| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 33rd | Poor |
| Amenities | 9th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 459 S Mulberry St, Wilmington, OH, 45177, US |
| Region / Metro | Wilmington |
| Year of Construction | 1988 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
459 S Mulberry St Wilmington 20-Unit Multifamily
The surrounding neighborhood shows full occupancy and a renter base approaching half of households, supporting leasing stability, according to WDSuite’s CRE market data.
Located in Wilmington, Ohio, the property sits in a Suburban neighborhood rated B that ranks 11 out of 23 within the metro — competitive among Wilmington neighborhoods. According to CRE market data from WDSuite, neighborhood occupancy is full and ranked 1 of 23 locally, placing it among the strongest nationally for stability. Median contract rents in the area have risen over the last five years, with additional growth projected, which supports revenue durability if managed with disciplined renewals.
Local livability skews practical rather than lifestyle-driven. Amenity density (cafes, restaurants, parks) is limited relative to both the metro and nation, while grocery access is around the national median. For investors, this mix points to a renter pool prioritizing value and commute convenience over entertainment options — a profile that can sustain steady demand but may temper premium rent capture.
Housing stock and vintage: The average neighborhood construction year is 1959, while this asset was built in 1988. Being newer than much of the local stock can help competitiveness versus older properties; however, systems from the late 1980s may still warrant targeted capital planning for modernization and efficiencies.
Tenure and demographics (3-mile radius): Roughly two-fifths of housing units are renter-occupied, indicating a meaningful tenant base without over-reliance on rentals. Population has edged up recently, and projections call for an increase in households alongside slightly smaller average household sizes by 2028, pointing to a larger tenant base and support for occupancy stability. Median home values in the neighborhood sit below national norms, which can introduce some competition from entry-level ownership; investors should calibrate pricing and retention strategies accordingly.
Comparable crime statistics for this neighborhood are not available in WDSuite for the current period. Investors typically benchmark neighborhood safety against city and county trends and review recent reports to understand directional changes and how they may influence leasing, insurance, and operational risk.
Regional employment access spans healthcare, manufacturing, insurance, and corporate services, supporting workforce housing demand and commute convenience for renters. Key nearby employers include Anthem Inc Mason Campus II, AK Steel Holding, Kroger DCIC, Humana Pharmacy Solutions, and Cincinnati Financial.
- Anthem Inc Mason Campus II — healthcare services (26.7 miles)
- AK Steel Holding — manufacturing (32.8 miles) — HQ
- Kroger DCIC — distribution (32.9 miles)
- Humana Pharmacy Solutions — healthcare services (33.4 miles)
- Cincinnati Financial — insurance (38.1 miles) — HQ
This 20‑unit 1988 multifamily asset offers smaller average unit sizes that align with value-oriented renter demand in Wilmington. Based on CRE market data from WDSuite, the neighborhood posts full occupancy and the top rank in the metro (1 of 23), signaling strong absorption and retention potential relative to many peer submarkets. Newer vintage versus the area’s largely 1950s housing stock can underpin competitive positioning with targeted upgrades rather than heavy repositioning.
Investor considerations include a practical amenity profile and a homeownership market that is more accessible than in higher-cost metros, which can introduce competition with entry-level buying. Even so, a meaningful share of renter-occupied units within a 3-mile radius, rising household incomes, and projected household growth through 2028 point to a deepening tenant base and sustained leasing fundamentals if pricing and retention are managed carefully.
- Full neighborhood occupancy and top metro ranking support leasing stability
- 1988 construction is newer than much of the local stock, enabling targeted value-add
- 3-mile outlook shows increasing households and income growth, expanding the renter pool
- Practical amenity mix suits value renters, though it may moderate premium rent capture
- Risk: relatively accessible ownership can compete with rentals; pricing and retention discipline are key