| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 66th | Good |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5800 Melody Ln, Milford, OH, 45150, US |
| Region / Metro | Milford |
| Year of Construction | 1978 |
| Units | 42 |
| Transaction Date | 1994-06-20 |
| Transaction Price | $1,550,000 |
| Buyer | --- |
| Seller | --- |
5800 Melody Ln, Milford OH Multifamily Investment
Suburban Milford location with above-average neighborhood occupancy and strong household incomes supports durable renter demand, according to WDSuite’s CRE market data. A 1978 vintage suggests potential value-add through selective renovations while maintaining competitive positioning.
This suburban neighborhood in the Cincinnati, OH-KY-IN metro carries a B rating and ranks 241 out of 611 metro neighborhoods, placing it above the metro median for overall fundamentals. Neighborhood occupancy is 95.6%, which WDSuite indicates sits in the 75th national percentile, a favorable signal for near-term leasing stability.
The renter-occupied share in the immediate neighborhood is modest, indicating a primarily owner-occupied area; however, within a 3-mile radius, population and household counts have grown over the last five years, with households expanding faster than population. That pattern typically reflects smaller household sizes and can broaden the tenant base over time, supporting steady absorption for well-managed assets.
Local schools average 4.0 out of 5 and rank 43 of 611 in the metro, landing in the top quartile nationally—an attribute that helps retain families and supports longer tenancies. Amenity depth is lighter (amenities in the 29th national percentile), but grocery and pharmacy access track around or better than national norms, suggesting day-to-day convenience for residents.
Home values in the neighborhood are elevated relative to incomes without being extreme, and the rent-to-income ratio sits in a high national percentile for renters’ capacity to pay (97th), implying limited affordability pressure and potential for stable renewals. With the average neighborhood construction year around 2005, the subject’s 1978 vintage is older than the area stock—an investor can plan for targeted capital projects to enhance competitiveness and capture renovation upside.
Comparable crime metrics for this neighborhood are not available in WDSuite’s current release. Investors should benchmark on-the-ground observations and public safety datasets against Cincinnati metro trends to gauge relative positioning.
As with any submarket evaluation, consider property-level measures (lighting, access control, and visibility), and compare incident trends to peer neighborhoods before underwriting assumptions related to retention or security-related operating costs.
Regional employment anchors within commuting distance span insurance, retail corporate operations, financial services, healthcare services, and manufacturing—supporting a diversified renter base and commute convenience for workforce and professional tenants.
- Anthem Inc Mason Campus II — insurance (10.2 miles)
- Kroger DCIC — retail/grocery corporate (10.8 miles)
- Prudential Financial — financial services (13.8 miles)
- Humana Pharmacy Solutions — healthcare services (15.0 miles)
- AK Steel Holding — steel manufacturing (15.7 miles) — HQ
5800 Melody Ln offers a 42-unit, 1978-vintage footprint in a suburban Milford location where neighborhood occupancy trends are strong and household incomes are high relative to many peer areas. Based on commercial real estate analysis from WDSuite, the neighborhood sits above the metro median overall and in the upper national percentiles for occupancy, supporting stable leasing and renewal prospects.
The renter pool is smaller than in urban cores, yet 3-mile population and household growth point to a gradually expanding tenant base. Elevated home values and a low rent-to-income ratio suggest retention-friendly affordability for renters, while the asset’s older vintage provides a clear path for targeted value-add—modernizing interiors and building systems to compete effectively with newer stock.
- Above-metro neighborhood ranking and strong occupancy support leasing stability
- Household income strength and low rent-to-income ratio favor renewal potential
- 1978 vintage offers value-add upside via selective renovations and system upgrades
- Diversified nearby employers underpin demand across workforce and professional tenants
- Risks: smaller renter concentration and lighter amenity density require disciplined leasing and asset management