| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 43rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 Prairie Ave, Wilmington, OH, 45177, US |
| Region / Metro | Wilmington |
| Year of Construction | 1977 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | $919,949 |
| Buyer | PRAIREIVIEW LIMITED PARTNESHIP |
| Seller | ERS WILMINGTON PROPERTIES LLC |
360 Prairie Ave, Wilmington OH 74-Unit Multifamily
Positioned in Wilmington s inner-suburban fabric, the property benefits from a renter-occupied concentration measured for the neighborhood alongside strong daily-needs access, according to WDSuite s CRE market data. Relative affordability in the neighborhood supports tenant retention and leasing velocity for well-managed assets.
Livability leans on everyday convenience: the neighborhood ranks 1 out of 23 metro neighborhoods for grocery and pharmacy access and is also 1 out of 23 for restaurant density, indicating strong daily-needs and dining options near the asset. By contrast, limited parks, cafes, and childcare options (ranks near the bottom of the 23-neighborhood metro set) suggest fewer discretionary amenities, which investors should weigh against the area s basic service strength.
The property s 1977 vintage is newer than the neighborhood s older housing stock (average year built ranks near the bottom metro-wide), which supports competitive positioning versus legacy assets. That said, systems from the late-1970s era may warrant targeted modernization, creating potential value-add pathways while maintaining operational continuity.
Tenure dynamics point to a meaningful renter base: the neighborhood s share of housing units that are renter-occupied is high (84th percentile nationally), implying depth for multifamily demand and a broader tenant pool for leasing. Within a 3-mile radius, demographics show modest population growth in recent years alongside a slight reduction in household counts, with forecasts indicating more households and marginally smaller household sizes ogether these shifts can expand the renter pool and support occupancy stability for practical unit mixes.
Ownership costs in the neighborhood sit below national norms (home values and rents score in lower national percentiles), which can introduce some competition from entry-level ownership. However, a low rent-to-income ratio at the neighborhood level indicates manageable rents, supporting lease retention and reducing turnover risk for well-maintained apartments.
Comparable safety insights are limited, as neighborhood crime metrics were not available in the current feed. Investors should benchmark on-the-ground observations and third-party datasets against broader Wilmington trends for a balanced view, focusing on multi-year patterns rather than isolated incidents.
Regional employers within commuting distance help underpin renter demand for workforce housing, notably in healthcare, industrial services, steel manufacturing, grocery distribution, and pharmacy benefits. The following employers can support leasing through stable commuter flows:
- Anthem Inc Mason Campus II healthcare insurance (27.4 miles)
- Waste Management waste services (33.1 miles)
- AK Steel Holding steel manufacturing (33.5 miles) HQ
- Kroger DCIC grocery distribution (33.7 miles)
- Humana Pharmacy Solutions pharmacy benefits (34.1 miles)
This 74-unit, late-1970s asset offers durable renter demand fundamentals at a practical price point for the Wilmington, Ohio market. Daily-needs access is a clear strength (top-ranked grocery, pharmacy, and restaurant density among 23 metro neighborhoods), while a high neighborhood share of renter-occupied housing units reinforces the depth of the tenant base. Within a 3-mile radius, modest population growth with an outlook for more households and slightly smaller household sizes points to a gradually expanding renter pool that can support occupancy stability and steady leasing.
The 1977 construction is relatively newer than much of the area s older stock, offering competitive positioning and clear value-add opportunities through selective modernization and common-area upgrades. According to CRE market data from WDSuite, neighborhood-level rents remain comparatively manageable relative to incomes, supporting retention and disciplined rent setting without overextending affordability. Key watch items include competition from accessible ownership options and the commuter nature of major employers located 27 3 miles away.
- Renter demand depth supported by a high neighborhood share of renter-occupied units and strong daily-needs access
- 1977 vintage enables competitive positioning versus older stock with clear value-add modernization potential
- 3-mile demographics indicate gradual renter pool expansion and support for occupancy stability
- Relative rent-to-income positioning can aid retention and disciplined pricing strategies
- Risks: accessible entry-level ownership and commuter distances to major employers may temper near-term rent growth