| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 68th | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 608 Happy Hollow Rd, Milford, OH, 45150, US |
| Region / Metro | Milford |
| Year of Construction | 1980 |
| Units | 36 |
| Transaction Date | 2017-12-07 |
| Transaction Price | $2,450,000 |
| Buyer | GAINES INVESTEMTNS LLC |
| Seller | VVA GROUP LLC |
608 Happy Hollow Rd Milford Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a sizable renter-occupied share, according to WDSuite’s CRE market data. Investors should view this as a stable, needs-based suburban location with balanced rent-to-income dynamics that can aid retention.
Milford’s Happy Hollow area ranks in the top quartile among 611 Cincinnati metro neighborhoods (A-rated), signaling durable fundamentals for workforce-oriented multifamily. Neighborhood occupancy runs high at 96.6%, which supports cash flow stability and reduces lease-up risk based on CRE market data from WDSuite.
Amenities are competitive among Cincinnati neighborhoods for daily convenience: restaurant and café density ranks competitive, and pharmacies are similarly strong. Parks access also trends competitive, while grocery and childcare options are limited within the neighborhood footprint — a consideration for resident convenience and site marketing.
Average schools in the area (around the middle-to-upper range locally) add to family-oriented appeal, with an average rating of roughly mid-3 out of 5 and a competitive rank versus the metro. The ownership market shows moderate home values and a value-to-income profile that can create some competition with entry-level ownership, but rental options remain relevant for households prioritizing flexibility and lower upfront costs; investors should translate this into thoughtful pricing and retention strategies rather than premium positioning.
Demographics aggregated within a 3-mile radius indicate recent population growth and an increase in households, with projections pointing to further household gains and smaller average household sizes through 2028. This trend typically expands the renter pool and supports occupancy stability; however, a higher owner share in the broader area suggests multifamily demand will be steady but not exclusively dominant.
The property’s 1980 vintage is older than the neighborhood’s average construction year (mid-1990s), implying capital planning for building systems and presenting potential value-add opportunities via targeted renovations to remain competitive against newer stock.
Specific neighborhood crime metrics are not available in WDSuite for this location. Investors typically benchmark safety by comparing neighborhood-level trends to metro and national patterns and by reviewing multi-year trajectories rather than single-year snapshots. As with any asset, underwriting should incorporate standard risk management and on-the-ground diligence.
Regional employers within commuting distance help support renter demand and retention, with a mix of corporate offices spanning retail, healthcare, financial services, and consumer goods that align with a diversified workforce.
- Kroger DCIC — corporate offices (8.1 miles)
- Anthem Inc Mason Campus II — health insurance (8.8 miles)
- Prudential Financial — financial services (11.2 miles)
- Humana Pharmacy Solutions — pharmacy benefit management (12.7 miles)
- Procter & Gamble Co. — consumer goods offices (13.3 miles)
608 Happy Hollow Rd offers scale at 36 units in an inner-suburban Cincinnati location where neighborhood occupancy is high and renter concentration is meaningful. Based on CRE market data from WDSuite, the surrounding neighborhood’s strong occupancy and competitive amenity access indicate stable day-to-day demand drivers, while low rent-to-income levels suggest manageable affordability pressure that can aid lease retention.
Built in 1980, the asset is older than nearby stock on average, which points to capital planning needs and an avenue for value-add renovations to protect competitiveness against mid-1990s and newer product. Within a 3-mile radius, recent population growth and a projected increase in households point to a larger tenant base over the next few years; however, relatively accessible homeownership and limited grocery/childcare options locally are underwriting considerations for pricing, renewal strategy, and resident experience.
- High neighborhood occupancy supports cash flow stability
- 36-unit scale in inner-suburban location with competitive amenities
- 1980 vintage suggests value-add and CapEx planning to enhance positioning
- 3-mile radius shows population and household growth, expanding the renter pool
- Risks: limited neighborhood grocery/childcare access and some competition from ownership