| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 66th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5615 Happy Hollow Rd, Milford, OH, 45150, US |
| Region / Metro | Milford |
| Year of Construction | 1981 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5615 Happy Hollow Rd Milford Multifamily Investment
Neighborhood fundamentals point to steady renter demand, with high neighborhood occupancy and a sizable renter-occupied share supporting income durability, according to WDSuite’s CRE market data.
Milford’s inner-suburban location offers a balanced mix of livability and access. The neighborhood ranks 65 out of 611 Cincinnati metro neighborhoods overall, placing it in the top quartile among 611 metro neighborhoods, which signals competitive positioning for multifamily relative to nearby submarkets. Amenity access trends slightly above national norms, with strong food-and-beverage density (restaurants and cafes track in the 84th–89th percentiles nationally) and parks in the 91st percentile, aiding resident retention and leasing.
Neighborhood schools average 4.0 out of 5 (ranked 43 of 611; 84th percentile nationally), a positive marker for family appeal that can lengthen tenancy. At the same time, local childcare and pharmacy options are limited within the immediate neighborhood footprint, which may modestly affect convenience expectations for some residents and should be considered in marketing and amenity strategy.
From a housing performance standpoint, neighborhood occupancy is strong at roughly the high‑90s, and renter concentration is elevated (ranked 43 of 611; 93rd percentile nationally). For investors, this translates to a deeper tenant base and historically resilient lease-up. Median contract rents in the neighborhood sit below many peer areas, and the rent-to-income ratio is low by national standards (6th percentile), which reduces affordability pressure and supports retention while leaving room for targeted renovations to capture value.
Vintage context: the area’s average construction year is 1970. With a 1981 build, the property is newer than the local average, which can enhance competitive positioning versus older stock; however, systems modernization and selective interior updates may be warranted to meet current renter expectations and drive rent premiums.
Within a 3‑mile radius, demographics indicate a growing tenant base: population and households have increased over the past five years and are projected to continue rising through 2028. Smaller average household sizes and rising incomes in the area point to continued demand for professionally managed apartments, supporting occupancy stability and pricing power for well-maintained assets based on commercial real estate analysis from WDSuite.
Comparable neighborhood-level crime metrics are not available in the provided WDSuite dataset for this location. Investors typically benchmark safety perceptions against broader Cincinnati trends and on-the-ground observations, supplementing with third-party sources. Framing risk at the neighborhood level (rather than block-by-block) helps ensure an appropriate comparison to similar inner-suburban areas.
Proximity to established corporate employers supports leasing from a diverse commuter base, particularly in grocery retail, insurance, financial services, healthcare, and industrial headquarters noted below.
- Kroger DCIC — grocery retail offices (7.8 miles)
- Anthem Inc Mason Campus II — insurance (9.2 miles)
- Prudential Financial — financial services (10.9 miles)
- Humana Pharmacy Solutions — healthcare services (12.5 miles)
- AK Steel Holding — steel manufacturing (13.4 miles) — HQ
The property’s 1981 vintage positions it newer than the neighborhood’s average housing stock, offering a relative edge versus older assets while still leaving scope for targeted value‑add through systems upgrades and interior refreshes. Neighborhood multifamily indicators are favorable: high occupancy and an elevated renter-occupied share suggest a durable tenant base, while comparatively low rent-to-income levels point to manageable affordability pressure and potential for measured rent growth as improvements are executed, according to CRE market data from WDSuite.
Within a 3‑mile radius, population and households have grown in recent years and are projected to rise further through 2028, expanding the renter pool and supporting occupancy stability. Amenity access is competitive for parks and dining, and school ratings are strong for the metro, all of which can bolster retention. Counterbalancing factors include relatively accessible home values in the immediate neighborhood—which can create some competition with ownership—along with limited nearby childcare and pharmacy options and typical capex needs for a 1980s asset.
- Newer-than-local-average 1981 vintage with value‑add potential via modernization
- Strong neighborhood occupancy and high renter concentration support leasing stability
- Growing 3‑mile population and household counts expand the tenant base through 2028
- Risk factors: relatively accessible ownership options, limited nearby childcare/pharmacy, and typical 1980s capex