| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Good |
| Demographics | 49th | Good |
| Amenities | 26th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 565 Franklin St, Versailles, OH, 45380, US |
| Region / Metro | Versailles |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
565 Franklin St, Versailles OH — 20-Unit Multifamily Investment
Neighborhood occupancy is strong and rents remain manageable for local incomes, according to WDSuite’s CRE market data, pointing to stable cash flow potential with measured pricing power.
Versailles is a rural neighborhood within the Greenville, OH metro, rated A and ranked 6 out of 35 metro neighborhoods, making it competitive among Greenville neighborhoods. The area shows high occupancy at the neighborhood level and sits in the top quartile nationally for occupancy stability, which supports steady leasing for workforce-oriented assets. Based on multifamily property research, limited retail density and a small-town amenity footprint mean residents typically rely on nearby towns for broader services.
Vintage context matters: the property’s 1977 construction is newer than the neighborhood’s average vintage (1952). That positioning can be relatively competitive versus older local stock, while investors should still plan for aging systems and targeted modernization to maintain appeal.
Unit tenure data indicates a modest renter concentration within the immediate neighborhood and a predominantly owner-occupied landscape. Within a 3-mile radius, households and families have grown in recent years with projections for additional household growth, which can expand the tenant base and support occupancy. Rising incomes in the 3-mile radius further underpin demand, though the smaller renter pool should guide conservative lease-up and renewal assumptions.
Home values in the area are lower compared with many U.S. neighborhoods, which can introduce some competition from ownership options. At the same time, neighborhood rent-to-income metrics sit in a favorable national percentile, reinforcing retention and lease stability. Parks and pharmacies index near the national mid-60s percentiles, while restaurants and cafes are sparse—consistent with a rural setting. These dynamics suggest car-reliant living but manageable costs that support tenant retention over time.
Safety trends compare favorably. The neighborhood ranks 3 out of 35 metro neighborhoods for lower violent offense rates and sits around the top percentile nationally for safety on this measure. Property-related offenses also benchmark well, placing in a high national percentile. Year-over-year estimates indicate improving or steady conditions. Investors should view this as supportive of resident retention and lower disruption risk relative to many U.S. neighborhoods, while continuing standard property-level security practices.
Local employment is diversified across the broader region; proximity to regional operators supports commute convenience for renters. The list below highlights an employer with reachable access that can help sustain tenant demand.
- Waste Management — environmental services (39.9 miles)
This 20-unit 1977 asset offers a defensive profile in a rural A-rated neighborhood where occupancy is high at the neighborhood level and rent burdens are comparatively low. The vintage is newer than the neighborhood average, offering a relative edge versus older stock, with pragmatic capex planning for systems and unit modernization to protect competitiveness. According to CRE market data from WDSuite, the neighborhood’s occupancy performance is strong versus national benchmarks, while homeownership remains accessible locally—suggesting stable retention but measured rent growth expectations.
Within a 3-mile radius, population and households have expanded and are forecast to continue growing, which points to a gradually larger tenant base and supports occupancy stability. Amenity density is modest and car-reliant, but operating costs and rent-to-income dynamics are favorable for lease renewals. Net takeaway: steady cash flow potential with value-add upside in interiors and common areas rather than outsized top-line growth.
- High neighborhood occupancy and strong national standing support leasing stability
- 1977 construction is newer than local average, with targeted capex/modernization upside
- 3-mile radius shows growth in households, expanding the renter pool and aiding retention
- Favorable rent-to-income dynamics indicate manageable rent burdens and renewal potential
- Risks: modest renter concentration and limited amenity density may temper near-term rent growth