| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 45th | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2419 Ohio Ave, Cincinnati, OH, 45219, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2003-02-28 |
| Transaction Price | $848,000 |
| Buyer | WELLS ROGER L |
| Seller | OHIO AVENUE LTD |
2419 Ohio Ave, Cincinnati Multifamily Investment Opportunity
Neighborhood fundamentals point to deep renter demand and amenity access, according to WDSuite s CRE market data, supporting steady leasing while leaving room for value-add execution. Metrics cited reflect the neighborhood, not the property, and suggest durable tenant depth near Cincinnati s urban core.
This Urban Core location is competitive among Cincinnati neighborhoods (150 out of 611), with strong lifestyle convenience: restaurants and cafes rank near the top of the metro, and parks are similarly abundant. These amenities can support retention and weekend leasing traffic for smaller-unit assets.
Renter-occupied housing is concentrated at the neighborhood level (72%+ share), indicating a deep tenant base for multifamily. While neighborhood occupancy has improved over the last five years, it remains below the metro s top-tier levels, so active leasing and management discipline remain important. Median home values are elevated relative to local incomes, which tends to sustain reliance on rental housing and supports pricing power when units are positioned well.
Within a 3-mile radius, population and households have grown and are projected to expand further over the next five years, pointing to a larger tenant base and support for occupancy stability. Household sizes are gradually shrinking, which often favors studio and one-bedroom demand consistent with this property s average unit size profile.
The average construction year in the immediate neighborhood skews older (early 1900s). Built in 1974, the subject asset is newer than much of the surrounding stock, which can be a competitive advantage; investors should still anticipate targeted system upgrades or modernization to meet current renter expectations.
Safety indicators for the neighborhood track below national averages, with violent and property offense percentiles on the lower end compared to neighborhoods nationwide. Relative to the Cincinnati metro, the area trends below the metro median among 611 neighborhoods. Investors commonly respond with measures such as access control, lighting, and partnership with professional security vendors to support resident comfort and leasing performance.
Proximity to a dense base of downtown corporate offices supports commuter convenience and renter demand, particularly for workforce and early-career tenants. The following nearby employers anchor daily foot traffic and help stabilize leasing in the submarket.
- Humana — corporate offices (1.1 miles)
- Kroger — corporate offices (1.4 miles) — HQ
- Macy's — corporate offices (1.6 miles) — HQ
- Hp — corporate offices (1.6 miles)
- Procter & Gamble — corporate offices (1.7 miles) — HQ
2419 Ohio Ave benefits from a concentrated renter base, robust food-and-beverage and park access, and growing household counts within a 3-mile radius — all supportive of stable tenant demand near the Cincinnati urban core. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years while renter-occupied share remains high, suggesting depth for smaller-format apartments when priced and managed effectively.
Constructed in 1974, the property is newer than much of the surrounding housing stock, offering relative competitiveness versus older assets while leaving room for targeted value-add upgrades to enhance rentability and NOI. Key watch items include below-median safety metrics and modest school ratings at the neighborhood level; underwriting should incorporate prudent security, marketing, and lease management assumptions.
- Deep neighborhood renter concentration supports tenant pool and leasing velocity
- Amenity-rich urban location (dining, cafes, parks) aids retention and absorption
- 1974 vintage enables competitive positioning with selective modernization for value-add
- 3-mile household growth and smaller household sizes favor studio/1-bed demand
- Risk: below-median safety metrics and uneven school ratings warrant conservative operations