| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 69th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 Thompson Heights Ave, Cincinnati, OH, 45223, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1973 |
| Units | 100 |
| Transaction Date | 2011-03-11 |
| Transaction Price | $2,657,000 |
| Buyer | Heritage Estates Limited |
| Seller | Cornell Investment Group, |
1600 Thompson Heights Ave Cincinnati Value-Add Multifamily
Neighborhood occupancy trends sit above national medians while renter demand is supported by nearby employment nodes, according to WDSuite’s CRE market data. For investors, the submarket's stability suggests steady leasing with upside through targeted upgrades.
The property sits in a suburban Cincinnati neighborhood rated C+ (ranked 398 of 611 metro neighborhoods), indicating performance below the metro median but with identifiable pockets of stability that can support consistent operations. Demographics rank 135 of 611 (out of 611), placing the area in the top quartile nationally per this measure and signaling a deeper professional talent base that can underpin workforce renter demand.
Within a 3-mile radius, population and households have grown modestly and are projected to expand further by 2028, pointing to a larger tenant base ahead. Forecasts show more households and smaller average household sizes, which typically support multifamily demand and occupancy stability rather than single-family ownership growth.
Local tenure patterns show a renter-occupied share of 26.6% at the neighborhood level, suggesting the immediate area is more ownership-oriented. However, within 3 miles, the renter-occupied share is notably higher (around 61%), providing a deeper pool of prospective tenants for a 100-unit asset drawing from nearby districts. Median contract rents align with regional norms and the neighborhood’s rent-to-income ratio near 0.14 indicates manageable affordability pressure, aiding retention and lease management.
Amenity density (restaurants, cafes, groceries, parks, pharmacies) ranks at or near the bottom of the metro (each 611th of 611), indicating a car-dependent setting where on-site features and proximity to job centers matter more than walkability. Average school ratings around 2.0/5 (ranked 155 of 611; below national averages) may temper family-focused leasing, so positioning toward workforce renters and value-forward finishes can be effective.
Vintage context: the neighborhood’s average construction year is 1928, while the property was built in 1973. Being newer than much of the local stock can improve competitive positioning versus older assets; investors should still plan for system modernization and selective renovations typical for 1970s buildings to sustain occupancy and rent growth.
Safety indicators for the neighborhood trend below national averages: overall crime ranks 350 of 611 within the Cincinnati metro (below metro median), and national comparisons place the area in lower percentiles for safety. Recent year-over-year readings indicate offense rates have risen, so underwriting should account for practical security measures, thoughtful tenant screening, and appropriate insurance assumptions.
Conditions can vary within short distances and change over time. Compare trends to peer neighborhoods across the Cincinnati, OH-KY-IN metro and monitor updated readings from WDSuite when evaluating lighting, access control, and staffing investments that can support resident retention.
The area draws from a diverse downtown and near-downtown employment base that supports commuter convenience and steady renter demand, including corporate offices such as Procter & Gamble, Humana, Kroger, Macy's, and HP.
- Procter & Gamble Co. — corporate offices (2.5 miles)
- Humana — corporate offices (4.4 miles)
- Kroger — corporate offices (4.7 miles) — HQ
- Macy's — corporate offices (5.0 miles) — HQ
- HP — corporate offices (5.0 miles)
1600 Thompson Heights Ave offers scale at 100 units with fundamentals supported by a larger 3-mile renter pool and neighborhood occupancy that trends above national medians. Built in 1973, the asset is newer than much of the surrounding housing stock (average 1928), giving it a competitive edge over older product while still presenting value-add potential through system upgrades and modernizations. According to CRE market data from WDSuite, the neighborhood’s rent-to-income positioning suggests manageable affordability pressure, supporting retention and disciplined rent growth strategies.
Investors should balance these positives against a car-dependent location with limited walkable amenities and safety readings that track below metro and national norms. Nearby corporate employment nodes help deepen demand, but underwriting should include pragmatic assumptions for security capex and amenity programming to drive leasing and renewals.
- Scale and demand: 100 units drawing from a deeper 3-mile renter pool supports occupancy stability.
- Competitive vintage: 1973 construction is newer than neighborhood averages, with clear modernization upside.
- Income-to-rent positioning: neighborhood ratios indicate room for disciplined rent growth and retention focus.
- Risks: below-average safety indicators and limited walkable amenities warrant security and amenity capex planning.