| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 66th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 105 Water St, Milford, OH, 45150, US |
| Region / Metro | Milford |
| Year of Construction | 2013 |
| Units | 104 |
| Transaction Date | 2012-09-27 |
| Transaction Price | $716,000 |
| Buyer | RIVERWALK FLATS LLC |
| Seller | CLC INVESTMENTS INC |
105 Water St Milford Multifamily Investment
Neighborhood occupancy remains strong and renter demand is deep, according to WDSuite s CRE market data, positioning this 2013-built, 104-unit asset for stable operations in an inner-suburban Cincinnati location.
Located in Milford (Cincinnati metro), the property sits in a neighborhood rated A and ranked 65 out of 611 metro neighborhoods, indicating competitive fundamentals among Cincinnati submarkets. The area 9s occupancy is high and trending positive, with the neighborhood 9s occupancy rate in the 86th percentile nationally providing a supportive backdrop for lease stability.
Renter concentration is elevated at the neighborhood level, with an estimated 58.3% of housing units renter-occupied (93rd percentile nationally). For multifamily investors, this signals a broad tenant base and durable demand for professionally managed product. Within a 3-mile radius, households have grown in recent years and are projected to expand further by 2028, pointing to a larger tenant pool and support for occupancy over a typical hold period.
Amenities skew favorable for daily convenience and lifestyle. Restaurant density ranks 67 of 611 in the metro (84th percentile nationally), café density ranks 32 of 611 (89th percentile nationally), and park access ranks 33 of 611 (91st percentile nationally) all consistent with renter-friendly, walkable or short-drive options that help retention. The average school rating is strong (ranked 43 of 611; 84th percentile nationally), which can underpin longer tenancies among households prioritizing school access.
On pricing dynamics, value-to-income sits comparatively high (70th percentile nationally), suggesting a high-cost ownership market relative to local incomes a condition that can reinforce reliance on rental housing. At the same time, the neighborhood 9s rent-to-income ratio indicates affordability pressure compared with many U.S. areas (low national percentile), warranting attentive renewal and rent-management strategies to sustain lease performance.
Vintage context matters: the average neighborhood construction year is 1970 (rank 311 of 611). With a 2013 completion, this asset competes favorably versus older local stock and may require selective mid-life system updates over the hold to preserve its competitive edge.
Comparable safety benchmarking for this specific neighborhood is not available in the provided WDSuite dataset. Investors typically evaluate safety by comparing neighborhood trends to the Cincinnati metro and by reviewing multi-year patterns rather than single-year snapshots. Standard underwriting measures such as lighting, access controls, and resident engagement can help support retention regardless of broader metro dynamics.
Proximity to major corporate offices supports commuter convenience and a stable renter base, with a concentration in retail distribution, insurance, consumer products, and healthcare services. Nearby employers include Kroger DCIC, Anthem Inc Mason Campus II, Prudential Financial, Procter & Gamble Co., and Humana.
- Kroger DCIC retail distribution (6.9 miles)
- Anthem Inc Mason Campus II insurance (9.4 miles)
- Prudential Financial financial services (9.9 miles)
- Procter & Gamble Co. consumer products offices (11.3 miles)
- Humana healthcare services (11.5 miles)
This 104-unit asset, built in 2013, benefits from a high-occupancy neighborhood and a renter-leaning housing stock, supporting day-one demand and lease stability versus older inner-suburban comparables. Household growth within a 3-mile radius with additional expansion projected through 2028 suggests a growing tenant base that can sustain absorption and retention. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile locally for schools and amenity access, reinforcing competitive positioning.
Relative to local norms, the newer vintage provides an edge over predominantly 1970s stock, though selective mid-life updates should be planned over the hold. Ownership costs appear comparatively elevated relative to incomes in the neighborhood, which tends to sustain reliance on rental housing; however, rent-to-income readings point to affordability pressure in some segments, underscoring the importance of thoughtful rent management and renewal strategies.
- High neighborhood occupancy and deep renter base support leasing stability
- 2013 construction competes well against older local inventory
- Amenity and school rankings in top quartile among 611 metro neighborhoods
- 3-mile household growth and projected expansion bolster tenant demand
- Risk: affordability pressure suggests careful rent management to protect retention