| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Best |
| Demographics | 54th | Good |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 650 Wagner Ave, Greenville, OH, 45331, US |
| Region / Metro | Greenville |
| Year of Construction | 1973 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
650 Wagner Ave, Greenville OH Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by steady local fundamentals, according to WDSuite s CRE market data. Expect stable operations with a focus on affordability and retention rather than outsized rent growth.
Greenville s inner-suburb setting offers practical livability with an emphasis on everyday conveniences over destination amenities. The neighborhood ranks 2 out of 35 in the metro with an A+ neighborhood rating, placing it above the metro median and signaling consistent performance drivers for multifamily. Local parks and pharmacies score in the top quartile nationally, suggesting day-to-day needs are well served, while limited cafes and grocery options in the immediate area indicate residents typically rely on broader retail corridors.
Rents in the neighborhood benchmark at the lower end of the market, and the rent-to-income ratio trends in a high national percentile, reinforcing affordability that can support lease retention. Home values are modest relative to national norms, which can introduce some competition from ownership; however, pricing for rentals still positions the area as a more accessible housing option, supporting occupancy stability and measured pricing power. These interpretations reflect commercial real estate analysis from WDSuite s data.
Occupancy for the neighborhood is high (97.5% for the neighborhood, not the property), ranking competitively among the 35 metro neighborhoods and in the top quartile nationally. The neighborhood s renter-occupied share is roughly one-third, indicating a meaningful but not oversupplied tenant base, while WDSuite s 3-mile demographic figures point to a larger renter pool nearby (about two-fifths of housing units renter-occupied), which deepens the draw for multifamily product.
Within a 3-mile radius, recent population has grown modestly with median household incomes rising, and WDSuite s forward view shows further population and household expansion over the next five years. More households alongside somewhat smaller average household sizes suggest a gradual expansion of the renter pool, which tends to support occupancy stability and steady absorption for well-managed assets.
Neighborhood-level crime figures are not available in WDSuite for this location, so investors should benchmark safety using broader city and county trends and tour-based observations. When assessing risk, compare the property s positioning and tenant profile with peer neighborhoods across the Greenville metro rather than relying on block-level anecdotes.
Regional employment is diversified across services and logistics, with commuting ties that can support renter demand and lease retention. The following nearby employer illustrates the broader employment base accessible to residents.
- Waste Management
This 80-unit asset sits in a Greenville neighborhood that ranks near the top of the metro, where occupancy is strong and rents remain comparatively accessible. Based on CRE market data from WDSuite, neighborhood occupancy trends are competitive among the 35 local neighborhoods and in the top quartile nationally, supporting stable operations. Affordability (low rent-to-income ratios) bolsters retention, while modest home values imply some competition from ownership that can be managed with value, maintenance, and service.
Within a 3-mile radius, population and household counts are projected to increase over the next five years, pointing to a larger tenant base and steady leasing. Unit sizes at the property average under 500 square feet, which positions the asset toward smaller-format demand; lease strategy and unit mix should focus on singles, couples, and downsizing households while monitoring any mismatch with larger-household demand in the area.
- High neighborhood occupancy supports stable cash flow potential
- Accessible rent levels and low rent-to-income ratios aid retention
- 3-mile population and household growth expand the renter pool
- Smaller average unit size aligns with demand for studios/1BRs
- Risks: competition from entry-level ownership and limited nearby retail options