| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 72nd | Best |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 603 Hanna Ave, Loveland, OH, 45140, US |
| Region / Metro | Loveland |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2021-10-08 |
| Transaction Price | $2,160,000 |
| Buyer | AUTUMN OAKS INVESTMENTS LLC |
| Seller | SUINDANCE PROPERTY MANAGEMENT INC |
603 Hanna Ave Loveland 24-Unit Multifamily Opportunity
Neighborhood occupancy is strong and has trended up, pointing to steady leasing conditions in this part of Loveland, according to WDSuite s CRE market data. For investors, the implication is durable demand with potential for disciplined rent management rather than aggressive concessions.
The property sits in a Suburban neighborhood with a B rating that is competitive among Cincinnati neighborhoods (ranked within the top 40% out of 611). While small in scale, Loveland benefits from family-oriented housing patterns and access to jobs across the northeast Cincinnati corridor, supporting stable renter demand at the neighborhood level rather than volatility-driven lease-ups.
Neighborhood occupancy (measured for the neighborhood, not the property) is elevated and in the top quartile nationally, based on CRE market data from WDSuite. This suggests limited downtime between turns and supports underwriting for steady collections versus outsized concessions. At the same time, the amenity profile within the immediate neighborhood is modest, with few cafes and groceries per square mile, so residents typically draw on nearby retail nodes along major corridors for daily needs.
Within a 3-mile radius, renter-occupied housing accounts for a smaller share of units, indicating a thinner renter concentration but a relatively stable tenancy profile. Household incomes are high relative to many Midwest suburbs, and elevated home values in the area tend to reinforce reliance on multifamily housing for those prioritizing commute convenience or flexibility, which can aid retention and pricing power for well-managed assets.
Rents in the 3-mile area have risen meaningfully over the past five years and are projected to continue growing, which supports a measured rent-growth thesis while highlighting the need to monitor affordability pressures. Looking ahead, forecasts indicate population and household growth within 3 miles, with slightly smaller average household sizes; for investors, this points to a gradually expanding renter pool and supports occupancy stability over the medium term.
Safety indicators compare favorably. The neighborhood ranks well nationally for lower violent offense rates (top decile nationwide) and sits above average for property offenses (safer than most neighborhoods nationally), according to WDSuite s CRE market data. These are neighborhood-level readings rather than block-level measures.
Recent trends are mixed: estimated violent offenses have moved down year over year, while estimated property offenses have increased from a low base. For investors, the takeaway is a generally favorable safety profile versus national norms, with routine property management practices (lighting, access control, and resident engagement) remaining prudent.
Proximity to major employers supports leasing stability as workforce renters balance commute times and housing costs. Nearby anchors include Anthem, Kroger s corporate operations, Prudential Financial, Humana Pharmacy Solutions, and AK Steel Holding.
- Anthem Inc Mason Campus II — insurance/healthcare services (4.0 miles)
- Kroger DCIC — retail/grocery corporate operations (7.2 miles)
- Prudential Financial — financial services offices (9.6 miles)
- Humana Pharmacy Solutions — healthcare services (9.9 miles)
- AK Steel Holding — steel manufacturing corporate offices (10.2 miles) — HQ
Built in 1978, the 24-unit asset offers a practical value-add or modernization path relative to older nearby stock while remaining competitive for workforce households. Neighborhood occupancy is high and trending favorable (neighborhood metric, not property-specific), supporting stable operations and measured rent growth potential. Elevated home values in the immediate area tend to sustain renter reliance on multifamily housing, and demographic forecasts within 3 miles point to a larger household base and slightly smaller household sizes, which can widen the renter pool over time.
According to CRE market data from WDSuite, this Loveland location compares well for safety and income fundamentals while the immediate amenity density is limited. The investment case hinges on pairing steady demand with targeted upgrades and disciplined affordability management to protect retention as rents continue to reset.
- Elevated neighborhood occupancy supports consistent leasing and collections
- 1978 vintage allows targeted value-add to improve NOI versus older comps
- High ownership costs nearby reinforce multifamily demand and retention
- 3-mile forecasts indicate renter pool expansion via more households and smaller sizes
- Risk: modest amenity density and rising rents require active lease and affordability management