| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 35th | Poor |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 W Funderburg Rd, Fairborn, OH, 45324, US |
| Region / Metro | Fairborn |
| Year of Construction | 1973 |
| Units | 25 |
| Transaction Date | 2017-04-24 |
| Transaction Price | $700,000 |
| Buyer | PINNACLE HEALTHCARE LLC |
| Seller | SUNDERBURG INVESTMENTS LLC |
400 W Funderburg Rd Fairborn 25-Unit Multifamily
Renter concentration near 54% and neighborhood occupancy around 90.9% point to a durable tenant base, according to WDSuite’s CRE market data. The 1973 vintage suggests potential value-add through targeted renovations to strengthen competitiveness.
Situated in Fairborn within the Dayton–Kettering metro, the property sits in an inner-suburban neighborhood rated C, placing it above metro median for some housing metrics but behind leading submarkets for broader demographics and amenities. Restaurants per square mile rank competitive among 228 metro neighborhoods (top quartile), while cafes, groceries, parks, and pharmacies are sparse locally—pointing to a car-leaning lifestyle and potential reliance on nearby corridors for daily needs, based on CRE market data from WDSuite.
Neighborhood occupancy is 90.9% with a modest positive trend over five years, a supportive backdrop for lease stability. The housing stock skews renter-occupied at roughly 54% of units, indicating depth in the tenant pool and reinforcing multifamily demand. With a rent-to-income ratio around 0.18 and median contract rents positioned in the lower half of national distributions, the area generally supports retention and measured pricing power rather than premium-rate strategies.
The asset’s 1973 construction precedes the neighborhood’s average vintage (1986), implying near- to medium-term capital planning for building systems and interiors. For investors, this often pairs with value-add potential to modernize finishes, improve energy efficiency, and differentiate versus older stock. Average unit size near 506 square feet suggests a compact mix that can cater to cost-conscious renters and single-occupant households.
Within a 3-mile radius, demographics indicate a recent dip in population but an increase in total households, with projections calling for additional household growth and smaller average household sizes. That pattern typically broadens the renter pool and supports occupancy stability for efficiently sized units, even as residents may commute to job centers elsewhere in the metro.
Safety indicators for the neighborhood track below national medians (crime measures are around the lower national percentiles), and the area ranks below the metro median when compared with 228 Dayton–Kettering neighborhoods. For investors, this warrants pragmatic assumptions on security, lighting, and property management presence to support resident satisfaction and retention.
Trends should be monitored over time rather than inferred from a single year. Operators in similar submarkets often focus on access control, site upkeep, and community standards to mitigate risk and sustain leasing performance relative to nearby alternatives.
Regional employment is diversified across services, logistics, and industrial leadership, supporting commuter demand for workforce housing. Nearby anchors include Waste Management, Staples Fulfillment Center, Anthem, AK Steel Holding, and Humana Pharmacy Solutions.
- Waste Management — environmental services (14.3 miles)
- Staples Fulfillment Center — logistics & distribution (34.6 miles)
- Anthem Inc Mason Campus II — healthcare insurance offices (36.1 miles)
- AK Steel Holding — steel manufacturing (38.2 miles) — HQ
- Humana Pharmacy Solutions — pharmacy services (39.5 miles)
This 25-unit, 1973-vintage asset in Fairborn offers exposure to a renter-heavy inner suburb where occupancy is about 90.9% and trending modestly higher. The neighborhood’s rent-to-income ratio near 0.18 supports retention and steady absorption for efficiently sized units, while compact layouts (~506 sq. ft. average) align with a tenant base seeking value and flexibility. According to CRE market data from WDSuite, restaurants density is competitive among metro peers, though daily-needs amenities are thinner—an operating consideration rather than a thesis driver.
Value-add remains the clearest lever: updating interiors and core systems can enhance competitiveness against older stock and sustain leasing velocity. Within a 3-mile radius, household counts have risen and are projected to grow further even as household sizes trend smaller—conditions that typically widen the renter pool and support occupancy stability over the hold period. Risks include below-median safety positioning and limited immediate amenities, both of which argue for disciplined operations and targeted capital projects.
- Renter-heavy area (~54% renter-occupied) supports depth of tenant demand
- Occupancy around 90.9% with a modest upward trend supports leasing stability
- 1973 vintage offers practical value-add via system upgrades and interior refresh
- Compact average unit size (~506 sq. ft.) fits demand from smaller households
- Risks: below-median safety and thinner amenities require focused management and capex