| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 47th | Fair |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1070 Bethel New Richmond Rd, New Richmond, OH, 45157, US |
| Region / Metro | New Richmond |
| Year of Construction | 1972 |
| Units | 30 |
| Transaction Date | 2011-10-11 |
| Transaction Price | $373,333 |
| Buyer | TIMBERWIND NEW RICHMOND LLC |
| Seller | TRITEX REAL ESTATE ADVISORS INC |
1070 Bethel New Richmond Rd New Richmond Multifamily Investment
Neighborhood-level data points to steady renter demand supported by above-median household incomes and manageable rent-to-income levels, according to WDSuite’s CRE market data. Focus is on durable occupancy at the neighborhood level, with pricing set by a largely owner-occupied, rural submarket near Cincinnati.
The property sits in a Rural neighborhood within the Cincinnati, OH-KY-IN metro that carries a B neighborhood rating and ranks 269 out of 611 neighborhoods—above the metro median. Amenity access is serviceable rather than dense: parks and pharmacies index modestly above national medians, while cafes are sparse, consistent with lower-density living. Average school ratings trend slightly above national norms (3.0 average; top quartile nationally would be higher), supporting family-oriented renter appeal without implying premium school-driven pricing.
Renter concentration in the neighborhood is comparatively low (roughly one-fifth of housing units are renter-occupied), which suggests a smaller multifamily tenant base but potentially steadier tenancy among households that do rent. Median contract rents benchmark on the lower side for the region, and the neighborhood’s rent-to-income ratio is favorable, indicating limited affordability pressure and room for disciplined rent management rather than outsized near-term pricing power.
Within a 3-mile radius, demographics show a modest population decline in recent years alongside slight household growth—pointing to smaller household sizes and a gradual shift toward more, smaller households. Looking ahead, WDSuite data indicates households are projected to increase further even as total population contracts, a pattern that can maintain a stable renter pool and support occupancy management for value-oriented product.
Ownership remains relatively accessible in this submarket versus coastal peers (home values and value-to-income levels track near national mid-range), which can create competition with entry-level ownership options. For investors, that dynamic underscores a focus on unit quality, maintenance, and lease retention over aggressive rent pushes. The neighborhood’s occupancy levels are close to national norms rather than tight, suggesting disciplined operations and targeted renovations may be the primary levers for NOI growth.
Relative to the Cincinnati metro, the neighborhood’s crime ranking is 177 out of 611 neighborhoods, placing it above the metro median for safety. Nationally, overall crime indicators trend slightly better than average, while violent crime benchmarks closer to the national mid-to-lower range, suggesting mixed but generally manageable risk for typical workforce housing.
Property-related offenses show notable year-over-year improvement, with WDSuite data indicating a strong downward trend. As always, underwriting should assume block-level variation and rely on property-specific security, lighting, and tenant screening to sustain leasing stability.
Proximity to major Cincinnati employers supports commute convenience and a diversified white-collar employment base, which can aid leasing stability for workforce-oriented rentals. The nearby employment anchors below include utilities, insurance/financial services, and consumer goods headquarters.
- Duke Energy — utilities (14.7 miles)
- American Financial Group — insurance (16.0 miles) — HQ
- Western & Southern Financial Group — financial services (16.0 miles) — HQ
- Procter & Gamble — consumer goods (16.1 miles) — HQ
- Fifth Third Bancorp — banking (16.3 miles) — HQ
Built in 1972, the asset is newer than much of the area’s housing stock, offering a competitive edge versus older neighborhood inventory while leaving room for targeted system updates or cosmetic upgrades. According to CRE market data from WDSuite, the surrounding neighborhood shows above-median household incomes and a favorable rent-to-income ratio, which supports collections and lease retention for value-oriented units more than aggressive rent growth.
Investor focus should center on durable operations in a largely owner-occupied submarket: maintain quality, address deferred maintenance, and calibrate rents to preserve occupancy. With households in the 3-mile radius expected to rise even as total population eases, smaller household sizes can sustain a steady renter pool, particularly for well-maintained, appropriately priced units.
- 1972 vintage provides competitive positioning versus older neighborhood stock, with potential value-add through targeted updates
- Favorable rent-to-income dynamics support collections and tenant retention over time
- Diversified regional employment base within commuting distance underpins renter demand
- Operational upside via preventative maintenance and selective renovations in a price-sensitive, rural submarket
- Risks: smaller renter base and accessible ownership options can temper pricing power; sustained leasing requires disciplined management