| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 28th | Poor |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2587 Lafeuille Ave, Cincinnati, OH, 45211, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1977 |
| Units | 23 |
| Transaction Date | 2012-12-28 |
| Transaction Price | $268,125 |
| Buyer | BBEG LLC |
| Seller | QC LAFF LLC |
2587 Lafeuille Ave Cincinnati Value-Add Multifamily
Neighborhood occupancy is strong and renter demand is deep, supporting stable leasing conditions for a 23-unit asset like this, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood rather than the property itself.
Located in an Inner Suburb of Cincinnati, the neighborhood shows competitive occupancy among 611 metro neighborhoods (96.6% at the neighborhood level), placing it in the top quartile nationally for occupancy. For investors, this indicates a relatively steady backdrop for renewals and lease-up; note that these figures describe the neighborhood’s multifamily occupancy, not the property.
Renter-occupied housing makes up a high share of neighborhood units (65.1%), ranking very high among Cincinnati areas. Elevated renter concentration typically supports a deeper tenant base and consistent leasing velocity for small multifamily. Median rent-to-income at the neighborhood level suggests manageable affordability pressure, which can aid retention and reduce turnover risk compared with tighter affordability submarkets.
Amenity density is limited locally (few cafes, groceries, parks, and pharmacies recorded), though restaurants are more present relative to some peers. Investors should underwrite the trade-off between day-to-day convenience and attainable rents; in similar submarkets, modest amenity footprints can align with workforce housing demand profiles and cost-conscious renters.
Within a 3-mile radius, population and households are projected to grow through 2028, with forecasts indicating a larger renter pool and more households even as average household size trends slightly lower. This combination generally supports occupancy stability and demand for smaller units. The property’s 1977 vintage is newer than much of the surrounding housing stock (neighborhood average skewing to early 20th century), which can be competitively advantageous versus older buildings, while still offering value-add potential through targeted interior and systems upgrades.
Ownership costs in the neighborhood are moderate by national standards, and alongside solid neighborhood occupancy, this tends to sustain reliance on rental housing. For multifamily investors, that context translates into potential pricing power at renewal when paired with thoughtful asset management and unit-level improvements.
Safety indicators for the neighborhood rank below the metro median and are in the lower percentiles nationally, signaling higher crime exposure than many U.S. neighborhoods. These rankings are measured against 611 Cincinnati-area neighborhoods and nationwide benchmarks, and they refer to the neighborhood context rather than the property.
Recent year-over-year trends indicate increases in both violent and property offenses at the neighborhood level. Investors commonly address this risk with enhanced lighting, access control, and resident engagement programs, which can support retention and mitigate operating disruptions while aligning with insurer and lender expectations.
The area draws from a diverse employment base that supports workforce rental demand and short commutes, including grocery retail, department store retail, banking, technology, and consumer goods—specifically Kroger, Macy's, Fifth Third Bancorp, HP, and Procter & Gamble.
- Kroger — grocery retail (4.4 miles) — HQ
- Macy's — department store retail (4.5 miles) — HQ
- Fifth Third Bancorp — banking (4.7 miles) — HQ
- HP — technology (4.8 miles)
- Procter & Gamble — consumer goods (5.0 miles) — HQ
The investment case centers on durable renter demand and operational upside. The neighborhood records high occupancy (competitive among Cincinnati neighborhoods and top quartile nationally) and a high share of renter-occupied units, indicating a sizable tenant base. The 1977 construction offers a relative edge versus older local stock while preserving value-add potential through unit upgrades and system modernization. Forward 3-mile demographics point to a larger tenant base, with projected growth in population and households supporting leasing stability and potential rent lifts over time, based on commercial real estate analysis from WDSuite.
Counterbalancing strengths, the neighborhood’s limited amenity footprint and below-metro safety rankings warrant prudent underwriting, attention to security measures, and active asset management. Affordability remains reasonable relative to local incomes, which may aid retention if operators calibrate renewal strategies and amenity enhancements to workforce demand.
- High neighborhood occupancy and deep renter-occupied share support stable leasing conditions
- 1977 vintage is competitive versus older local stock and suitable for targeted value-add
- 3-mile population and household growth projections expand the tenant base and support rent durability
- Balanced affordability backdrop may aid renewal capture with disciplined lease management
- Risks: below-metro safety rankings and limited nearby amenities require security focus and careful underwriting