| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Poor |
| Demographics | 45th | Good |
| Amenities | 9th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 385 Bernard Rd, New Vienna, OH, 45159, US |
| Region / Metro | New Vienna |
| Year of Construction | 1991 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
385 Bernard Rd, New Vienna OH Multifamily Investment
Neighborhood occupancy has remained steady with a modest renter-occupied base, pointing to durable but targeted demand, according to WDSuite’s CRE market data.
This rural neighborhood of the Wilmington, OH metro skews more owner-occupied, with renter-occupied housing representing roughly a quarter of units. For investors, that smaller renter concentration suggests a tighter but more stable tenant base and measured lease-up expectations rather than rapid absorption.
Amenities are sparse locally (limited grocery, parks, pharmacies, and cafes), while restaurants are closer to the national middle. Average school ratings trend above the national median, which can help tenant retention among households seeking stability even in lower-amenity pockets.
Rents and incomes indicate relatively favorable rent-to-income positioning, supporting retention and day-to-day collections management. By contrast, more accessible ownership costs in the area can create intermittent competition with single-family alternatives, so compelling property operations and resident experience remain important for pricing power.
At the property level, a 1991 vintage is newer than the neighborhood’s older housing stock, offering a competitive edge versus pre-1960 assets. Investors should still plan for system updates typical of 1990s construction to preserve curb appeal and operating reliability. Neighborhood occupancy has been stable over the past five years, reinforcing expectations for consistent, if measured, demand.
Within a 3-mile radius, population has edged down in recent years while household incomes have risen and household counts are projected to increase by mid-decade. This points to demographic shifts that can maintain a viable renter pool even as the area remains low-density, supporting baseline occupancy for well-managed multifamily assets.
Safety indicators compare favorably at the national level, with recent readings placing violent and property offenses in the top decile nationally for safer neighborhoods. Year-over-year trends also show sharp declines in estimated offense rates, which supports tenant retention and reduces operational disruptions for owners.
While safety conditions are a positive relative tailwind, investors should evaluate property-specific measures (lighting, access control, and incident tracking) and maintain standard risk management practices consistent with regional norms.
Regional employment anchors within commuting range support workforce housing demand, including insurance and healthcare services, grocery distribution, steel manufacturing, and financial services.
- Anthem Inc Mason Campus II — insurance and healthcare services (32.9 miles)
- Kroger DCIC — grocery distribution (38.3 miles)
- AK Steel Holding — steel manufacturing (39.7 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (40.0 miles)
- Prudential Financial — financial services (40.6 miles)
This 52-unit, 1991-vintage asset competes against older local stock, offering a relative advantage on functionality and appeal while still warranting targeted modernization to sustain performance. The neighborhood’s renter-occupied share is modest, but occupancy has been steady in recent years, indicating a dependable tenant base for disciplined operators. Based on CRE market data from WDSuite, rent levels align with incomes in a way that supports retention and consistent collections, though accessible ownership options can temper pricing power.
Longer-term fundamentals reflect a low-density setting with limited amenities but supportive safety trends and a commuting shed tied to regional employers. Investors can underwrite stable operations with value-add upside via systems updates and interior refreshes, while keeping an eye on NOI headwinds typical of lower-rent rural submarkets and the potential for competition from entry-level ownership.
- 1991 vintage offers competitive positioning versus older neighborhood stock; plan selective capex for durability
- Stable neighborhood occupancy and a smaller but steady renter base support consistent leasing
- Rent-to-income dynamics favor retention and day-to-day collections management
- Safety indicators trend strong nationally, reinforcing tenant appeal and operational stability
- Risks: limited local amenities, lower NOI per-unit norms, and competition from accessible ownership