| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 66th | Good |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5801 Melody Ln, Milford, OH, 45150, US |
| Region / Metro | Milford |
| Year of Construction | 1978 |
| Units | 66 |
| Transaction Date | 2016-12-09 |
| Transaction Price | $2,825,000 |
| Buyer | JL Family Management LLC |
| Seller | Trebor Associates Ltd |
5801 Melody Ln Milford OH Multifamily Investment
Neighborhood occupancy has been resilient and supports stable operations at this address, according to WDSuite’s CRE market data. The focus here is steady renter demand in a suburban Cincinnati location, with the neighborhood occupancy figures reflecting area conditions rather than the property itself.
Milford sits within the Cincinnati, OH-KY-IN metro and reads as a suburban, car-oriented location with everyday conveniences. Grocery and pharmacy access track above national norms (neighborhood measures land near the 60–70th national percentiles), while cafes, parks, and childcare are thinner locally—typical of lower-density suburbs. The neighborhood’s average school rating is 4.0 out of 5, ranking 43rd among 611 metro neighborhoods, which places it in the top quartile nationally and supports family appeal.
Occupancy for the neighborhood stands at 95.6% (top-quartile nationally per WDSuite), indicating durable housing absorption; this is a neighborhood-level metric, not the property’s. Renter-occupied housing within a 3-mile radius is comparatively limited, which suggests a more selective but stable tenant base; lease-ups may rely on targeted positioning rather than broad renter churn.
Income levels in the neighborhood score strongly (around the 85th national percentile), and the rent-to-income ratio ranks near the 97th percentile nationally—signaling lower affordability pressure and supporting retention and credit quality for multifamily operators. Median home values are elevated for Clermont County context yet moderate relative to some coastal markets; a lower value-to-income ratio (nationally below the median) implies ownership is relatively accessible, which can temper pricing power for rentals and merits careful leasing strategy and amenity alignment.
The neighborhood’s average construction year skews newer (mid-2000s), whereas the asset’s 1978 vintage is older than nearby stock—an investor signal for value-add potential and capital planning to modernize interiors, common areas, and building systems. Within a 3-mile radius, recent population growth (+) and an increase in households (+) point to a larger tenant base; forward-looking data indicates continued population and household expansion, which can support occupancy stability and leasing velocity for well-positioned units.
Specific crime ranks and percentiles for this neighborhood were not available in WDSuite’s dataset. Investors typically benchmark local safety by comparing neighborhood trends to Cincinnati metro and Clermont County references, using multi-year patterns rather than single-year snapshots. Standard diligence—reviewing police reports, third-party indices, and speaking with local stakeholders—can help contextualize perceived safety relative to nearby suburban submarkets.
Regional employment access is diversified across healthcare, consumer goods, and industrial corporate offices, supporting commuter convenience and a stable renter pool. Notable nearby employers include Anthem, Kroger, Prudential, Humana Pharmacy Solutions, and AK Steel Holding.
- Anthem Inc Mason Campus II — healthcare services (10.4 miles)
- Kroger DCIC — consumer goods & operations (10.9 miles)
- Prudential Financial — financial services (13.9 miles)
- Humana Pharmacy Solutions — healthcare services (15.1 miles)
- AK Steel Holding — steel & industrial (15.8 miles) — HQ
5801 Melody Ln is a 66-unit, 1978-vintage community in suburban Milford, positioned near strong household incomes and a renter base that values attainability and commute convenience. Neighborhood occupancy trends are robust and, according to CRE market data from WDSuite, remain above many national benchmarks—an indicator of demand stability at the area level. The asset’s older vintage relative to a mid-2000s neighborhood average points to actionable value-add and modernization levers that can sharpen competitive positioning against newer stock.
Within a 3-mile radius, population has grown and households have expanded meaningfully, with forward projections indicating additional household gains—supporting a larger tenant base over time. A low rent-to-income burden at the neighborhood level suggests room for consistent retention and disciplined rent management, while relatively accessible ownership conditions in this area argue for careful amenity, finish, and pricing strategies to sustain leasing velocity.
- Neighborhood occupancy in the top tier nationally supports area-level demand stability.
- 1978 vintage versus newer nearby stock highlights value-add and systems upgrades potential.
- 3-mile household growth and projected gains expand the renter pool, aiding lease-up and retention.
- Low rent-to-income burden supports retention and credit quality with disciplined rent management.
- Risk: relatively accessible ownership may moderate pricing power—requires targeted amenities and positioning.