| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 52nd | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 195 E McMillan St, Cincinnati, OH, 45219, US |
| Region / Metro | Cincinnati |
| Year of Construction | 2005 |
| Units | 121 |
| Transaction Date | 2017-11-14 |
| Transaction Price | $26,780,000 |
| Buyer | Nelson Brothers Professional Real Estate, LLC |
| Seller | --- |
195 E McMillan St Cincinnati Multifamily Investment
Positioned in Cincinnati s urban core, this 121-unit, 2005-vintage asset benefits from deep renter demand supported by nearby employment and dense amenities, according to WDSuite s CRE market data. The investment angle centers on durable tenant depth and relative competitiveness versus older neighborhood stock.
The property sits in an Urban Core neighborhood rated A- and ranked 93 out of 611 Cincinnati metro neighborhoods, placing it in the top quartile locally. Amenity access is a clear advantage: parks, restaurants, and cafes rank among the metro s most concentrated (each competitive among 611 neighborhoods), supporting lifestyle convenience and leasing appeal.
Relative to the metro, neighborhood occupancy is below average but has trended higher over the past five years, indicating improving stability. The share of housing units that are renter-occupied is high (above the national 90th percentile), which signals a deep tenant base for multifamily operators. Median home values are elevated for the area, and the value-to-income ratio ranks high nationally, which tends to reinforce reliance on rental housing and can support pricing power when managed with retention in mind.
Within a 3-mile radius, households increased over the last five years and are projected to grow substantially by 2028, pointing to renter pool expansion. Median incomes have also advanced, and contract rents are expected to rise from today s levels over the next five years, which supports a constructive outlook for rent growth and lease-up velocity when paired with thoughtful affordability management.
Vintage matters here: with a construction year of 2005 versus much older neighborhood averages, this property is relatively newer and can compete well against older housing stock. Investors should still plan for ongoing system upgrades and selective modernization to maintain positioning and capture demand from nearby employment centers.
Safety indicators are mixed and should be considered in underwriting. Compared with neighborhoods nationwide, this area sits well below national safety percentiles, and it ranks below the metro median among Cincinnati s 611 neighborhoods. Recent year-over-year estimates also indicate increases in both violent and property offenses. Operators often respond with targeted measures such as access controls, lighting, and coordinated community engagement; investors should evaluate cost-effective safety enhancements and their impact on retention.
Proximity to major employers underpins workforce housing demand and commute convenience for residents. Notable nearby offices include Humana, Kroger, HP, Procter & Gamble, and Macy s.
- Humana corporate offices (0.74 miles)
- Kroger corporate offices (1.47 miles) HQ
- Hp corporate offices (1.61 miles)
- Procter & Gamble corporate offices (1.62 miles) HQ
- Macy's corporate offices (1.70 miles) HQ
This 2005-built, 121-unit asset offers a favorable balance of tenant depth and relative competitiveness in an amenity-rich, employment-dense pocket of Cincinnati. The neighborhood ranks in the top quartile among 611 metro neighborhoods and shows improving occupancy trends, while elevated ownership costs locally tend to sustain multifamily demand and support lease retention. According to CRE market data from WDSuite, the area exhibits strong income potential at the neighborhood level and a high renter concentration, both supportive of long-run absorption.
Within a 3-mile radius, households have grown and are projected to expand meaningfully, reinforcing a larger renter pool over the next five years. The asset s newer vintage relative to nearby housing stock helps positioning, though prudent capital planning for aging systems and targeted upgrades will be important to maintain competitiveness. Key underwriting considerations include below-average school ratings, a weaker safety profile compared with national benchmarks, and neighborhood occupancy that, while improving, remains softer than metro leaders.
- Newer 2005 vintage versus much older local stock supports competitive positioning
- High renter-occupied share and amenity density underpin tenant depth and leasing
- 3-mile household growth and projected expansion point to sustained renter demand
- Elevated ownership costs locally can reinforce rental reliance and pricing power
- Risks: below-average safety metrics, weak school ratings, and neighborhood occupancy still below metro leaders