| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Fair |
| Demographics | 31st | Poor |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3401 McHenry Ave, Cincinnati, OH, 45225, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1975 |
| Units | 24 |
| Transaction Date | 2012-12-28 |
| Transaction Price | $195,000 |
| Buyer | BBEG LLC |
| Seller | MC H2 LLC |
3401 McHenry Ave Cincinnati Multifamily Investment
Neighborhood renter concentration and steady occupancy point to durable tenant demand, according to WDSuite’s CRE market data. This asset suits investors prioritizing stable workforce housing dynamics over luxury amenity appeal.
Located in Cincinnati’s inner-suburban fabric, the immediate neighborhood carries a C rating with occupancy near the national midpoint (49th percentile) and a high share of renter-occupied housing units at the neighborhood level (71.7%). For multifamily investors, that renter concentration indicates a deep tenant base and supports leasing stability, though rent-to-income levels suggest careful revenue management.
The property’s 1975 vintage is newer than the area’s average construction year of 1956. That positioning can be competitively advantageous versus older stock while still warranting targeted capital planning for building systems and interiors to support retention and maintain pricing power.
Amenities are mixed: grocery access is comparatively strong (64th percentile nationally), and park access trends even higher (79th percentile), while cafes, restaurants, and pharmacies are sparse. Average school ratings in the area sit at the lower end (approximately 15th percentile nationally), which may modestly narrow appeal for households prioritizing school quality. These dynamics suggest an emphasis on workforce and value-oriented renters rather than amenity-driven lease-up.
Within a 3-mile radius, current population is roughly flat, but WDSuite data indicate forward-looking expansion with forecast population and household growth through 2028 and rising median contract rents. For investors, projected household increases and a larger renter pool support demand depth and occupancy stability; aligning unit finishes and operations to value-sensitive renters may optimize absorption and retention.
Home values are lower in absolute terms locally, yet the value-to-income ratio ranks in the top quartile nationally, signaling a relatively high-cost ownership landscape for local incomes. That context tends to reinforce reliance on rental housing and can sustain renter demand, though it also underscores the importance of affordability management to mitigate turnover risk.
Safety conditions should be evaluated closely. The neighborhood ranks below the metro median for crime (341 out of 611 metro neighborhoods), and its national safety standing is weak (around the 20th percentile). This indicates higher reported crime levels than many Cincinnati submarkets and most U.S. neighborhoods.
Trend signals are mixed: property offenses show a recent year-over-year decline, while estimated violent offenses increased over the same period. Investors typically address these conditions with robust security measures, lighting, and resident engagement to support retention and asset performance at the neighborhood level.
Proximity to major employers in downtown Cincinnati underpins workforce housing demand and commute convenience, notably across retail headquarters, banking, health insurance, and technology offices listed below.
- Kroger — grocery retail (4.3 miles) — HQ
- Macy's — retail (4.4 miles) — HQ
- Humana — health insurance (4.5 miles)
- Fifth Third Bancorp — banking (4.6 miles) — HQ
- Hp — technology (4.6 miles)
This 24-unit, 1975-vintage asset aligns with value-oriented demand drivers in an inner-suburban Cincinnati neighborhood where renter concentration is high and occupancy trends sit near the national midpoint. According to CRE market data from WDSuite, the area shows growing household counts within 3 miles over the next five years alongside rising median contract rents, supporting a steady tenant base and potential for disciplined revenue growth when paired with targeted renovations.
The property’s relative youth versus the neighborhood average (1956) suggests competitive positioning against older stock while still benefiting from modernization to enhance retention. Ownership remains comparatively expensive relative to incomes locally, which can reinforce reliance on multifamily rentals; however, investors should underwrite to affordability pressure, mixed amenity depth, and safety variability.
- High renter concentration supports a deep tenant base and leasing stability.
- 1975 vintage offers value-add and systems upgrades to strengthen competitiveness versus older stock.
- Forecast increases in households and contract rents within 3 miles bolster long-term demand and occupancy.
- Ownership costs relative to incomes sustain rental reliance, supporting retention potential.
- Risks: below-median safety metrics, modest amenity depth, and affordability pressure require active management.