| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 50th | Good |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1350 Benden Way, Greenville, OH, 45331, US |
| Region / Metro | Greenville |
| Year of Construction | 1999 |
| Units | 60 |
| Transaction Date | 1997-12-10 |
| Transaction Price | $145,000 |
| Buyer | GREENVILLE MANOR LTD PTNS |
| Seller | ENGELKEN EDNA M |
1350 Benden Way, Greenville OH Multifamily Investment
Neighborhood occupancy is strong and household growth is projected to expand the local renter pool, according to WDSuite’s CRE market data.
This Inner Suburb neighborhood ranks 1st out of 35 in the Greenville, OH metro with an A+ neighborhood rating, signaling durable location fundamentals for multifamily investors. Neighborhood occupancy is high at 99.2% (neighborhood metric, not property-specific), which supports stable leasing assumptions. Grocery access is competitive (ranked 1 of 35), and restaurants, cafes, parks, and pharmacies score above national midpoints, reinforcing day-to-day livability that helps retention.
The average construction year in the neighborhood is 1985. With a 1999 vintage, the property is newer than much of the local stock, which can enhance leasing competitiveness versus older comparables while still warranting selective system updates and common-area refreshes as part of prudent capital planning.
Tenure patterns indicate a renter concentration of 34.6% of housing units (neighborhood-level), suggesting a meaningful but not saturated base of renter-occupied units. This balance typically supports demand depth for workforce-oriented product while limiting excessive turnover risk.
Within a 3-mile radius, demographics point to steady demand drivers. Recent data show marginal population growth and stable household counts, with forecasts calling for approximately 9.5% population growth and a 33%+ increase in households over five years. A smaller projected average household size implies more households competing for rental units, supporting occupancy stability. Median home values in the neighborhood are elevated relative to local incomes, and a low rent-to-income ratio indicates limited affordability pressure for renters. For multifamily property research, these conditions translate to a larger tenant base and measured pricing power without overextending residents.
Median school ratings in the neighborhood are around mid-range (about 2.5 out of 5), which is typical for the metro and should be underwritten neutrally for family-oriented unit mixes. Overall, the submarket’s amenity access, strong neighborhood ranking, and high neighborhood occupancy create a supportive backdrop for stabilized operations.
Safety indicators are comparatively solid versus national benchmarks and above the metro median among 35 neighborhoods. Overall crime performance sits in the upper third nationally, and property offenses are in a high national percentile with an improving year-over-year trend. Violent offense levels benchmark favorably at a high national percentile, though the recent year’s change shows some volatility; investors should monitor trend durability rather than any single reading.
Given these mixed but generally favorable signals, underwriting can assume conditions that are competitive among Greenville-area neighborhoods while allowing for standard security measures and community engagement policies to support resident retention.
The employment base includes regional services that support workforce housing demand and commute convenience for residents, notably in environmental services.
- Waste Management — environmental services (43.6 miles)
Built in 1999, this 60-unit asset is newer than the neighborhood’s 1985 average, positioning it competitively against older stock while leaving room for targeted value-add through systems modernization and amenity refreshes. High neighborhood occupancy (99.2%, neighborhood-level) and a renter share around one-third suggest a durable tenant base and steady leasing. According to CRE market data from WDSuite, local livability indicators (grocery access, daily services) and a low rent-to-income ratio support retention with measured rent growth assumptions.
Within a 3-mile radius, forecasts point to population growth and a sizable increase in households over the next five years, expanding the renter pool and supporting occupancy stability. Homeownership remains a higher-cost path relative to neighborhood incomes, which reinforces reliance on multifamily housing and can underpin pricing power for well-maintained, competitively positioned assets.
- Newer 1999 vintage versus local 1980s stock supports leasing competitiveness
- High neighborhood occupancy and balanced renter concentration indicate demand depth
- 3-mile forecasts show population and household growth, expanding the tenant base
- Low rent-to-income dynamics support retention and measured pricing power
- Risk: safety trends show some volatility; maintain standard security and prudent underwriting