| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 57th | Good |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1020 Chapel St, Cincinnati, OH, 45206, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1989 |
| Units | 30 |
| Transaction Date | 2015-01-29 |
| Transaction Price | $1,554,857 |
| Buyer | WALNUT COURT LIMITED PARTNERSHIP |
| Seller | EPISCOPAL RETIREMENT HOMES AFFORDABLE LI |
1020 Chapel St Cincinnati Multifamily Investment Opportunity
Renter demand is supported by a high neighborhood renter concentration and strong food-and-beverage density, according to WDSuite’s CRE market data. Investors should underwrite for operational upside in a submarket where occupancy has trended up but still trails metro norms.
This Inner Suburb location is competitive among Cincinnati neighborhoods (ranked 270 of 611 overall, B rating), with a notable concentration of restaurants and cafes. Food-and-beverage density sits in the top tier nationally, while daily-needs options such as groceries, parks, and pharmacies are thinner within the neighborhood boundary, suggesting residents may rely on nearby districts for errands.
For schools, the neighborhood’s average rating of 2.5 out of 5 places performance around the national middle, which is typical for urban-adjacent areas. Amenity access ranks competitive among the metro (222 of 611), led by dining strength; this supports lifestyle appeal for renters even as family-oriented amenities are less concentrated locally.
The housing stock skews older across the neighborhood (average vintage 1916), while the subject property’s 1989 construction is newer than much of the local inventory—an advantage for leasing versus prewar product. That said, systems from the late 1980s may still warrant modernization planning to sharpen competitive positioning.
Renter-occupied share is high at 71.9%, indicating a deep tenant base and steady multifamily demand. Neighborhood occupancy has improved over the last five years yet remains below metro averages, reinforcing the need for disciplined leasing and asset management to capture demand from the sizable renter pool.
Within a 3-mile radius, population has grown in recent years and households expanded at a faster clip, pointing to smaller average household sizes and a larger renter base. Forward-looking projections show continued population growth and a substantial increase in households, which should support occupancy stability and absorption for well-run multifamily assets.
Elevated home values relative to incomes at the neighborhood level (high value-to-income ratio) signal a high-cost ownership market locally, which tends to sustain renter reliance on multifamily housing. Median contract rents in the immediate area are lower than many urban cores, keeping rent-to-income levels manageable for retention while leaving room for thoughtful, market-supported upgrades.
Safety metrics benchmark below national averages for comparable neighborhoods, with violent and property offense rates tracking in lower national percentiles. Investors should plan for appropriate security measures, lighting, and access controls and consider these factors in underwriting, tenant profile, and insurance assumptions.
At the metro level (611 neighborhoods), the area does not rank among the safer cohorts, so comparative positioning should be reflected in marketing, on-site operations, and partnership with community resources. Monitoring trend movement is advisable as part of ongoing risk management.
Nearby corporate offices create a diversified employment base that supports workforce renter demand and commute convenience. Key anchors include Humana, Procter & Gamble, Kroger, American Financial Group, and Fifth Third Bancorp.
- Humana — insurance (1.2 miles)
- Procter & Gamble — consumer goods (2.2 miles) — HQ
- Kroger — grocery retail (2.3 miles) — HQ
- American Financial Group — insurance (2.4 miles) — HQ
- Fifth Third Bancorp — banking (2.5 miles) — HQ
The 30-unit property at 1020 Chapel St benefits from a renter-heavy neighborhood, strong dining amenity density, and a 1989 vintage that is newer than much of the surrounding housing stock. Within a 3-mile radius, recent population growth and a faster increase in households point to renter pool expansion, supporting occupancy stability for well-managed assets. Based on CRE market data from WDSuite, neighborhood occupancy has improved but still trails metro averages, making hands-on leasing and targeted upgrades important for capture and retention.
Homeownership remains relatively costly versus incomes at the neighborhood level, reinforcing reliance on rentals and aiding pricing power for quality units. The 1989 construction should compete well against older inventory, though investors should budget for modernization of systems and common areas to enhance positioning and drive rent premiums in line with submarket demand.
- High renter concentration supports a deep tenant base and leasing durability
- 1989 vintage offers competitive edge versus older neighborhood stock with value-add potential
- 3-mile population and household growth expand the local renter pool, supporting occupancy
- Elevated ownership costs sustain renter reliance, aiding rent stability and renewal capture
- Risk: Safety metrics benchmark below national averages; plan security, marketing, and insurance accordingly