| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 66th | Good |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6200 Melody Ln, Milford, OH, 45150, US |
| Region / Metro | Milford |
| Year of Construction | 1976 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6200 Melody Ln Milford 24-Unit Multifamily Investment
Neighborhood occupancy trends sit in the top quartile nationally, supporting stable tenancy and measured rent growth potential, according to WDSuite’s CRE market data. With a 1976 vintage, the asset presents practical value-add levers relative to newer nearby stock while serving a suburban tenant base.
Milford’s suburban setting offers day-to-day convenience with grocery and pharmacy access competitive among 611 Cincinnati metro neighborhoods, though the immediate area is lighter on cafes and parks. Average school ratings are top quartile among 611 metro neighborhoods and strong nationally, a family-oriented signal that can support retention for multifamily assets.
From an operations lens, neighborhood occupancy has held in the mid-90s and ranks in the top quartile among 611 Cincinnati metro neighborhoods, indicating resilient leasing conditions through cycles. However, average NOI per unit trends below many U.S. neighborhoods, suggesting performance depends on hands-on management and selective upgrades rather than pure market lift.
The renter concentration within the neighborhood is comparatively low, reflecting an owner-leaning housing base. For investors, this points to a thinner but steadier renter pool where renewals and customer service can drive outcomes; it also means new supply pressure is less likely at the block level. Median home values are elevated versus many Midwest suburbs, reinforcing reliance on multifamily for households that prefer or need rental options without implying barriers to ownership.
Demographic indicators within a 3-mile radius show recent population growth alongside a larger increase in households and a forecast for continued household expansion and smaller household sizes. This combination typically broadens the tenant base for smaller formats and supports occupancy stability, a useful backdrop for multifamily property research focused on durable demand rather than rapid lease-up.
WDSuite does not provide neighborhood-specific crime rankings for this location in the current release. Investors typically compare broader city and county trends, speak with local property managers, and review recent incident maps to contextualize safety and on-site measures. Position safety as part of routine diligence rather than assuming block-level outcomes.
The property sits within commuting distance of several corporate offices that underpin professional employment and steady renter demand. Nearby employers include Anthem, Kroger’s data and innovation operations, Prudential Financial, Humana Pharmacy Solutions, and AK Steel Holding.
- Anthem Inc Mason Campus II — insurance services (10.1 miles)
- Kroger DCIC — data/innovation center (10.7 miles)
- Prudential Financial — financial services (13.8 miles)
- Humana Pharmacy Solutions — healthcare services (15.0 miles)
- AK Steel Holding — steel manufacturing offices (15.6 miles) — HQ
Built in 1976, this 24-unit asset is older than the neighborhood’s average vintage, creating a practical path for value-add and targeted capital planning to improve renter appeal versus newer stock. Neighborhood occupancy trends are in the top quartile nationally, and according to CRE market data from WDSuite, the rent-to-income profile suggests room for disciplined pricing while maintaining retention.
Within a 3-mile radius, recent population gains, a larger increase in households, and projections for continued household growth with smaller household sizes point to a gradually expanding renter pool. The submarket skews owner-occupied, so demand is steadier than surge-like; paired with strong schools and everyday retail access, the backdrop supports stable tenancy. Key risks include amenity-light pockets near the property and NOI per unit levels that trail national leaders, making operations and renovations central to the thesis.
- Top-quartile neighborhood occupancy supports leasing stability and renewal-driven performance.
- 1976 vintage enables value-add upgrades to enhance competitiveness versus newer stock.
- 3-mile population and household growth with smaller household sizes expands the renter base.
- Owner-leaning area favors steady demand and retention-focused asset management.
- Risks: amenity-light pockets and below-peak NOI per unit make execution and capex critical.