| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 66th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5605 Happy Hollow Rd, Milford, OH, 45150, US |
| Region / Metro | Milford |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2000-01-12 |
| Transaction Price | $1,200,000 |
| Buyer | HARRY S OSGOOD FAMILY LTD PTNS |
| Seller | HERN PROPERTIES |
5605 Happy Hollow Rd Milford Multifamily Investment
Neighborhood fundamentals point to durable renter demand, with high occupancy and a sizable share of renter-occupied housing units in the immediate area, according to WDSuite’s CRE market data. Expect steady leasing supported by Inner Suburb dynamics rather than outsized growth.
This Inner Suburb neighborhood in the Cincinnati metro scores an A overall (ranked 65 of 611), making it competitive among Cincinnati neighborhoods for multifamily. Local occupancy is strong and trending positively, and the area posts a high neighborhood renter concentration, reinforcing depth in the tenant base and supporting leasing stability.
Everyday convenience is a relative strength. Restaurant and cafe density sit in the mid‑80s to high‑80s national percentiles, and park access is around the 90th percentile nationally, indicating a well‑served amenity mix for residents. Average school ratings are strong for the metro (ranked 43 of 611), placing the area in the top quartile nationally — a factor that can aid retention for family renters.
The property’s 1974 vintage is slightly newer than the neighborhood average stock from around 1970. That positioning can be competitive versus older assets, while investors should still plan for selective modernization and systems upgrades typical of 1970s construction to enhance rentability and reduce near‑term capex surprises.
Ownership costs in the neighborhood are comparatively modest by national standards, while rents trend on the lower side. This mix suggests two countervailing dynamics: accessible ownership options may create some competition for move‑up renters, yet rent levels and a low rent‑to‑income burden can support retention and occupancy management for workforce‑oriented product.
Within a 3‑mile radius, demographics show recent population and household growth, with projections calling for continued household expansion alongside smaller average household sizes. For multifamily owners, that points to a broader tenant pool and sustained demand for rental units over the medium term.
Comparable crime data for this neighborhood are not available in WDSuite for a metro rank or national percentile. Investors typically benchmark safety using multiple sources; consider pairing property‑level diligence with broader Cincinnati metro context and trend checks rather than relying on block‑level anecdotes.
Nearby employment anchors span consumer goods, insurance, financial services, and healthcare — a diversified base that supports renter demand through commute convenience and job stability. Notable employers include Kroger DCIC, Anthem Inc Mason Campus II, Prudential Financial, Humana Pharmacy Solutions, and Procter & Gamble Co.
- Kroger DCIC — consumer goods/logistics (7.8 miles)
- Anthem Inc Mason Campus II — insurance (9.3 miles)
- Prudential Financial — financial services (10.9 miles)
- Humana Pharmacy Solutions — healthcare services (12.5 miles)
- Procter & Gamble Co. — consumer goods (12.6 miles)
The investment case centers on stable renter demand and livability advantages relative to the Cincinnati metro. Neighborhood occupancy is high and improving, the renter‑occupied share is elevated, and amenities (parks, restaurants, cafes) rank well nationally. According to CRE market data from WDSuite, local rent levels and rent‑to‑income dynamics suggest manageable affordability pressure, which can support retention and consistent leasing, though it may temper near‑term pricing power.
Built in 1974, the asset is slightly newer than average nearby stock, offering a platform for value‑add through targeted unit and systems upgrades to sharpen competitive positioning against older properties. At the same time, comparatively modest home values in the neighborhood imply some competition from ownership alternatives, making asset quality, management execution, and amenity programming important to sustain occupancy and drive rent growth.
- Strong neighborhood occupancy and elevated renter concentration support leasing stability
- Amenity access and above‑metro school ratings aid retention for a broad renter profile
- 1974 vintage offers value‑add potential through selective modernization and efficiency upgrades
- Manageable rent‑to‑income dynamics support occupancy, though may limit rapid rent increases
- Risk: comparatively accessible ownership options could compete for residents; execution and amenities remain key