| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 809 Luther Dr, Xenia, OH, 45385, US |
| Region / Metro | Xenia |
| Year of Construction | 2002 |
| Units | 57 |
| Transaction Date | 2011-01-31 |
| Transaction Price | $5,600,000 |
| Buyer | LEGACY VILLAGE HEALTHCARE FACILITIES INC |
| Seller | LEGACY MINISTRIES INTERNATIONAL INC |
809 Luther Dr Xenia OH 2002 Multifamily Investment
Newer-than-neighborhood vintage and steady renter demand point to durable operations, according to WDSuite’s CRE market data, though submarket occupancy trends warrant disciplined leasing strategies.
Located in Xenia within the Dayton–Kettering metro, the property sits in a rural neighborhood where daily conveniences are limited; cafes, grocers, parks, and pharmacies are sparse while childcare access is comparatively better than other local categories. For investors, this favors car-centric renters and workforce households over amenity-driven living, which can still support stable tenancy when pricing and management align with the submarket.
The asset’s 2002 construction is materially newer than the area’s typical 1950s housing stock, giving it competitive positioning versus older properties while leaving room for targeted system upgrades or light interiors to sustain rentability over time.
At the neighborhood level, occupancy trends track below the metro median among 228 Dayton–Kettering neighborhoods, so underwriting should emphasize marketing efficiency and retention. Even so, rent levels are mid-market for the region and recent growth has been constructive, suggesting room for measured rent optimization without overreaching on price.
Demographic statistics within a 3-mile radius show modest population growth and an increase in households alongside slightly smaller household sizes through the forecast period, expanding the tenant base for smaller-format units and supporting occupancy stability. A balanced share of renter-occupied housing units indicates sufficient depth in the renter pool for multifamily demand, while ownership remains accessible enough to introduce some competition at renewal, requiring attention to value and resident experience.
Relative to the Dayton–Kettering metro, this neighborhood ranks 20th out of 228 for crime, placing it in the top quartile among metro neighborhoods. Nationally, it trends around the upper third for safety, indicating comparatively favorable conditions versus many U.S. neighborhoods.
Recent year-over-year trends show notable declines in both property and violent offense rates, according to WDSuite’s CRE market data. While safety varies by block and over time, the directional improvement and above-metro standing support renter retention and leasing narratives without relying on sensational claims.
The broader labor base features industrial, logistics, insurance, and healthcare employers within commuting range, supporting workforce renter demand and lease retention for properties positioned to serve drive-to-work households. Employers highlighted below reflect nearby options likely to influence tenant employment stability.
- Waste Management — environmental services (18.6 miles)
- Staples Fulfillment Center — logistics & fulfillment (31.9 miles)
- Anthem Inc Mason Campus II — insurance & admin offices (32.0 miles)
- AK Steel Holding — steel manufacturing offices (35.9 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (37.0 miles)
Built in 2002, the property is newer than much of the surrounding housing stock, which skews mid‑century. This positions the asset competitively versus older Class B/C comparables while leaving room for targeted capital planning on aging systems and light interiors to capture steady leasing without overcapitalizing. Neighborhood occupancy performs below the metro median, but rent levels and recent growth trends are constructive, suggesting potential for disciplined revenue management tied to resident value.
Within a 3-mile radius, modest population growth and a projected increase in households point to renter pool expansion, while smaller household sizes favor efficient unit mixes and support lease-up and renewal stability. Affordability appears manageable relative to local incomes, which can aid retention. Based on CRE market data from WDSuite, the area’s safety profile is comparatively favorable in the metro with improving year-over-year offense trends, supporting consistent demand, though limited nearby amenities and accessible homeownership options introduce competitive pressures that should be reflected in underwriting.
- 2002 vintage outcompetes older local stock; targeted upgrades can drive durable rentability
- 3-mile renter pool expansion and smaller household sizes support occupancy stability
- Manageable rent-to-income dynamics aid retention and measured pricing power
- Above-metro safety standing and improving trends bolster leasing narratives
- Risks: below-metro neighborhood occupancy, limited amenities, and ownership competition require disciplined underwriting and resident experience focus