| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 50th | Good |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 888 E Russ Rd, Greenville, OH, 45331, US |
| Region / Metro | Greenville |
| Year of Construction | 1994 |
| Units | 24 |
| Transaction Date | 2010-06-24 |
| Transaction Price | $1,742,000 |
| Buyer | WAYNE CROSSING LIMITED PARTNERSHIP |
| Seller | RUSS ROAD LIMITED PARTNERSHIP |
888 E Russ Rd Greenville Multifamily Investment
Positioned in an Inner Suburb pocket with near-full neighborhood occupancy, this 24-unit asset benefits from durable renter demand and favorable rent-to-income dynamics, according to CRE market data from WDSuite. The result is a steady, needs-based tenant base with potential for consistent retention and measured rent growth.
The property sits in a Greenville, Ohio neighborhood rated A+ and competitive among Greenville neighborhoods (1 of 35), with amenity access above national norms. Grocery, pharmacy, and restaurant density register in higher national percentiles, supporting daily convenience that tends to bolster leasing velocity and renewal likelihood.
Neighborhood occupancy is approximately 99% and ranks in the upper tier nationally, based on CRE market data from WDSuite. For investors, that level of stability points to limited downtime on turns and supports pricing power when paired with prudent lease management.
Construction trends in this area skew a bit older than 1994; this asset’s vintage is relatively newer than the neighborhood average (1985), which can help competitive positioning versus older stock. At the same time, investors should plan for selective modernization as systems age to maintain rentability.
Tenure patterns indicate a meaningful renter-occupied share within the 3-mile radius, providing depth to the tenant pool and supporting occupancy. Neighborhood-level rents sit in lower national percentiles, which translates to lower affordability pressure and can aid lease retention while still allowing thoughtful rent steps over time.
Home values in the area are moderate for the region, which can introduce some competition from ownership. However, this typically sustains a core renter segment that values turn-key housing and predictable monthly costs, a dynamic often favorable for multifamily properties in workforce-oriented locations.
Safety indicators for the neighborhood are comparatively favorable versus national norms, with overall crime measures tracking better than average nationwide. Property offenses have shown improvement year over year, while violent offenses remain comparatively low by national standards but exhibited a recent uptick that warrants ongoing monitoring.
Within the Greenville metro context (35 neighborhoods), the area performs above the metro average on several safety dimensions. For underwriting, this supports renter appeal and retention, but investors should still factor in standard security measures and periodic trend reviews as part of risk management.
Regional employment nodes contribute to the renter base by offering diverse blue- and white-collar roles within commuting distance. The listing below reflects nearby corporate presence relevant to workforce housing demand.
- Waste Management — environmental services (44.3 miles)
Built in 1994 with larger-than-typical average unit sizes, this 24-unit property aligns with workforce demand drivers and benefits from neighborhood occupancy near full, according to CRE market data from WDSuite. The combination of low rent-to-income levels and everyday amenity access supports consistent leasing and manageable turnover risk.
Relative to older nearby stock, the 1994 vintage provides competitive positioning, while leaving room for targeted value-add through system updates and light renovations to enhance rentability. Moderate ownership costs in the area mean some competition from for-sale options, but the stable renter base and projected population and household growth within a 3-mile radius point to a durable tenant pipeline.
- High neighborhood occupancy supports steady cash flow and reduced downtime
- 1994 vintage offers competitive standing versus older local stock with value-add potential
- Large average unit sizes align with renter demand and renewal potential
- Amenity access and favorable rent-to-income balance aid retention and pricing discipline
- Risks: some competition from homeownership, limited immediate corporate anchors, and mixed crime trend signals warrant monitoring