| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 42nd | Good |
| Amenities | 10th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 46730 Church St, New Waterford, OH, 44445, US |
| Region / Metro | New Waterford |
| Year of Construction | 1992 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
46730 Church St, New Waterford 25-Unit Investment
Neighborhood occupancy remains strong and stable, supporting small-unit leasing durability according to WDSuite’s CRE market data. In a rural pocket of the Salem, OH metro, renters benefit from comparatively low rent-to-income levels, favoring retention over turnover.
This rural neighborhood in the Salem, OH metro carries a B+ rating with high occupancy at the neighborhood level, indicating durable renter demand rather than property-specific performance. With a 1992 construction year, the property is newer than the local average vintage (1970), which can improve competitive positioning versus older stock; investors should still plan for selective modernization as systems age.
Local amenities are sparse (few cafes, grocers, or pharmacies within close reach), while parks access trends modestly above national norms. Average school ratings around 3.0 place the neighborhood roughly in the upper half nationwide, providing a balanced livability backdrop without being a primary draw for premium rents.
At the neighborhood level, occupancy trends rank 7 out of 51 metro neighborhoods and sit in the top quartile nationally, a positive signal for lease stability. Renter-occupied share in the neighborhood is relatively low, which can mean a smaller immediate renter pool but also less competition from newer multifamily supply. Home values skew more accessible for owners in this area, so pricing discipline and practical finishes are key to sustaining absorption and renewal performance.
Within a 3-mile radius, demographics show recent softness in population and household counts but a forward view that points to household expansion and higher incomes, supporting a larger tenant base over time. Low rent-to-income levels at the neighborhood scale suggest manageable affordability pressure that can aid retention, though it may temper near-term rent growth expectations. Overall, the submarket reads as steady workforce housing where consistent operations and targeted upgrades drive value over headline amenity appeal.
Safety indicators compare favorably at the national level, with both property and violent offense measures landing in higher national percentiles (safer than many neighborhoods nationwide). Recent year-over-year declines in estimated offense rates further support a constructive trend. As always, investors should evaluate block-by-block conditions during due diligence; these metrics reflect neighborhood-level patterns rather than property-specific outcomes.
The area draws from a regional employment base tied to rail, healthcare distribution, and diversified corporate services, supporting commute-driven renter demand and lease retention for workforce-oriented units. Nearby employment nodes include Norfolk Southern, Cardinal Health, Dick's Sporting Goods, PPG Industries, and PNC Financial Services Group.
- Norfolk Southern — rail & logistics offices (25.1 miles)
- Cardinal Health — healthcare distribution (29.4 miles)
- Dick's Sporting Goods — retail corporate (29.8 miles) — HQ
- PPG Industries — coatings & materials corporate (42.8 miles) — HQ
- PNC Financial Services Group — banking corporate (42.8 miles) — HQ
This 25-unit asset’s 1992 vintage is newer than the neighborhood average, offering relative competitiveness versus older local stock while leaving room for targeted upgrades to support rents and control capital planning. At the neighborhood scale, occupancy trends are strong and nationally competitive, which, combined with modest rent burdens, supports retention and steady cash flow. Based on CRE market data from WDSuite, the surrounding area functions as workforce housing with limited amenity pull, making operations, pricing, and practical finishes central to performance.
Within a 3-mile radius, recent demographic softness gives way to forward-looking growth in households and incomes, pointing to a larger tenant base over time. The neighborhood’s lower renter concentration and more accessible ownership landscape can create leasing competition, but they also limit direct multifamily supply pressure; compact average unit sizes (~527 sf) may align with cost-conscious renters seeking attainable options.
- Strong neighborhood occupancy supports leasing stability at the submarket level
- 1992 vintage offers competitive positioning versus older local stock with selective value-add potential
- Workforce demand drivers and low rent burdens favor renewals and cash flow consistency
- 3-mile outlook indicates future household and income growth expanding the tenant base
- Risks: limited nearby amenities and a smaller renter pool can slow lease-up and cap rent upside if pricing or finishes misalign