| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Fair |
| Demographics | 31st | Poor |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3375 McHenry Ave, Cincinnati, OH, 45225, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1973 |
| Units | 80 |
| Transaction Date | 2011-04-12 |
| Transaction Price | $730,000 |
| Buyer | THE GUARDIAN APARTMENTS LLC |
| Seller | TRITEX REAL ESTATE ADVISORS INC |
3375 McHenry Ave Cincinnati Multifamily Investment
Neighborhood data point to a deep renter base and steady occupancy around the area, according to WDSuite’s CRE market data, supporting durable leasing for professionally managed assets nearby. Metrics cited are at the neighborhood level, not the property, and indicate demand stability with room for targeted operational improvement.
The property sits in an Inner Suburb of Cincinnati where renter-occupied housing is prevalent. The neighborhood’s renter concentration is high (71.7% of units renter-occupied), placing it in the 97th percentile nationally, which typically supports a larger tenant base and consistent leasing for multifamily operators. Neighborhood occupancy is about 91% and has trended higher over the last five years; these figures are for the neighborhood, not the property, and point to demand that can underpin retention strategies.
Access to daily needs is reasonable: grocery options are competitive among Cincinnati neighborhoods (ranked 150 of 611), and park access performs in the top quartile among the 611 metro neighborhoods (ranked 78). Dining, cafes, and pharmacies are limited within the immediate neighborhood (ranks nearer the bottom of the metro distribution), so residents may rely on nearby districts for those amenities. Average school ratings in the neighborhood are below national norms (around the 15th percentile), which can affect tenant mix and marketing, though affordability and proximity to employment nodes often offset school-driven turnover in workforce housing segments.
Ownership costs in the neighborhood are modest in absolute terms but relatively elevated against local incomes (value-to-income ratio in the 78th national percentile). That context can sustain reliance on rental housing and support pricing power, while the neighborhood’s rent-to-income ratio near 0.30 (low national percentile) suggests more manageable rent burdens that can aid lease retention. Median home values and median rents track below national averages, aligning the submarket with workforce demand rather than luxury positioning.
The asset’s 1973 vintage is newer than the neighborhood’s older housing stock (average construction year 1956). That relative age can improve competitive positioning versus pre‑1960s buildings, though investors should still plan for ongoing system updates or selective renovations to capture value-add upside and align interiors with tenant expectations.
Demographic statistics aggregated within a 3-mile radius show a broadly stable population in recent years with projections for meaningful household growth through 2028. Forecasts indicate a sizable increase in households and higher median incomes, expanding the renter pool and supporting occupancy stability and achievable rent lifts for well-managed communities.
Safety indicators for the neighborhood sit below both metro and national benchmarks. The area ranks 341 out of 611 Cincinnati metro neighborhoods for crime, placing it below the metro median, and national comparisons indicate lower relative safety (around the 20th percentile nationwide). Violent offense measures compare unfavorably at the national level, while property offense estimates have improved year over year, suggesting recent directional progress.
Investors should underwrite with appropriate security planning, resident engagement, and operational controls. Monitoring submarket trends and coordinating with local resources can help sustain leasing and retention even as the neighborhood works through safety challenges.
Proximity to major employers in Downtown Cincinnati supports commuter convenience and durable renter demand, notably in retail, financial services, healthcare, and consumer products. Nearby anchors include Kroger, Macy’s, Humana, Fifth Third Bancorp, and Procter & Gamble.
- Kroger — consumer staples HQ (4.2 miles) — HQ
- Macy's — retail HQ (4.4 miles) — HQ
- Humana — healthcare services (4.5 miles)
- Fifth Third Bancorp — banking HQ (4.6 miles) — HQ
- Procter & Gamble — consumer products HQ (4.7 miles) — HQ
This 80‑unit, 1973 multifamily asset is positioned within a renter-heavy Cincinnati neighborhood that shows stable occupancy and improving directionality. The vintage is newer than much of the nearby stock, offering relative competitiveness and the potential to unlock value through targeted renovations and systems modernization. According to CRE market data from WDSuite, neighborhood rents and home values sit below national levels while renter concentration is high, supporting depth of demand for workforce housing.
Within a 3‑mile radius, forecasts call for notable increases in households and incomes by 2028, pointing to a larger tenant base and improved rent-achievement potential for well-operated communities. Employers in the urban core provide a substantial commuter base, while disciplined asset management can address safety perceptions and limited nearby dining/retail options.
- Renter-heavy neighborhood and steady occupancy support demand and leasing stability
- 1973 vintage newer than local stock, with clear value-add and modernization potential
- 3-mile forecasts show strong household growth and income gains, expanding the renter pool
- Proximity to major employers underpins workforce housing fundamentals and retention
- Risks: below-average neighborhood safety and limited nearby dining/retail; plan for security and amenity strategies