| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 43rd | Good |
| Amenities | 6th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1779 Whetstone St, Bucyrus, OH, 44820, US |
| Region / Metro | Bucyrus |
| Year of Construction | 1994 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1779 Whetstone St, Bucyrus OH Multifamily Investment
Neighborhood occupancy is steady around the low-90s and renter-occupied housing comprises a meaningful share of units in this area of Bucyrus, according to WDSuite’s CRE market data, supporting a stable tenant base for a 49-unit asset.
The property sits in a rural neighborhood of the Bucyrus–Galion, OH metro with a B- neighborhood rating. Local housing stock skews older (average vintage 1963), while this asset was built in 1994, giving it a relative age advantage versus nearby properties. For investors, that typically translates into lower near-term structural capex needs, with potential to pursue value-add upgrades as building systems age.
Renter concentration in the neighborhood is measured at 36.4% of housing units being renter-occupied. That level of renter-occupied stock supports depth of demand for multifamily, and the neighborhood occupancy rate is 92.2% — an indicator of leasing stability at the neighborhood level rather than this specific property (based on CRE market data from WDSuite).
Within a 3-mile radius, recent demographic data show a modest population pullback over the last five years, but forecasts point to growth ahead by 2028 alongside an increase in total households and a slightly larger average household size. This points to a larger tenant base and supports the outlook for occupancy stability and lease-up efficiency for well-positioned units.
Home values and typical rents in the neighborhood are comparatively low for the region, keeping the rent-to-income ratio around 0.12. For investors, this suggests manageable affordability pressure and some headroom for measured rent growth while maintaining retention, though pricing power will be influenced by local incomes and the area’s limited amenity density.
Neighborhood safety indicators compare favorably to many areas nationwide: crime measures land around the mid-to-upper national percentiles for safety, with violent offense rates positioned stronger than average and property offenses closer to national midpoints. According to WDSuite, the most recent year also shows meaningful declines in both violent and property offense estimates, indicating improving conditions. These are neighborhood-level trends and not block-specific.
Investors should interpret these figures as supportive of renter retention and leasing, while continuing to monitor local trends against regional benchmarks in the Bucyrus–Galion metro.
Regional employment is anchored by large corporate operations within commuting range, which can aid leasing consistency for workforce-oriented units. Notable employers include petroleum refining and diversified manufacturing.
- Marathon Petroleum — petroleum refining (40.0 miles) — HQ
- Parker-Hannifin Corporation — diversified manufacturing (44.2 miles)
This 1994-vintage, 49-unit asset benefits from a relative age advantage versus an older local housing base, offering potential for targeted value-add to interiors and common areas while avoiding some of the heavier structural capex associated with pre-1970 stock. Neighborhood occupancy around 92% and a renter-occupied share near one-third point to steady demand drivers, and, according to CRE market data from WDSuite, local rent levels remain modest relative to incomes, supporting retention and measured rent growth.
Within a 3-mile radius, recent softness in population is expected to give way to growth by 2028, alongside an increase in total households and slightly larger household sizes — factors that can expand the renter pool and support occupancy stability. The trade-off is a rural location with limited amenity density and a small metro employment base, which warrants conservative underwriting on lease-up velocity and renewal assumptions.
- 1994 construction offers relative age advantage versus older neighborhood stock with value-add potential
- Neighborhood occupancy near 92% and a meaningful renter-occupied share support demand stability
- Modest rents relative to incomes indicate manageable affordability pressure and retention support
- 3-mile forecasts point to population and household growth, expanding the tenant base
- Risk: rural location with limited amenities and smaller employment base may temper pricing power