| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Fair |
| Demographics | 31st | Poor |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3409 McHenry Ave, Cincinnati, OH, 45225, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1979 |
| Units | 36 |
| Transaction Date | 2008-10-21 |
| Transaction Price | $480,000 |
| Buyer | IB PROPERTY HOLDINGS LLC |
| Seller | EMRICH KARL W |
3409 McHenry Ave Cincinnati Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base, according to WDSuite’s CRE market data, while occupancy trends track near the metro median.
Located in an inner-suburban pocket of Cincinnati, the neighborhood carries a C rating with occupancy around the metro median, indicating generally steady leasing conditions for workforce-oriented units. Renter-occupied housing represents a large share of the local stock (top quartile nationally), which supports demand depth and day-to-day leasing velocity for multifamily investors.
Amenity density is mixed: grocery access is comparatively stronger than many peers in the metro, and parks score in the upper national percentiles, while cafes, restaurants, and pharmacies are limited. School ratings trend below national averages, which can influence family-driven demand but may be less material for smaller or efficiency-oriented floor plans.
Median contract rents in the neighborhood are lower than national norms yet have risen over the past five years, signaling room for targeted renovations to capture measured rent premiums without overextending affordability. With a value-to-income ratio elevated relative to incomes, ownership remains less accessible for many households, which tends to sustain reliance on rental housing and can aid retention.
Within a 3-mile radius, demographics indicate a largely stable population in recent years and forecasts point to growth in both population and households over the next five years, expanding the renter pool and supporting occupancy stability. According to CRE market data from WDSuite, the neighborhood’s average household size modestly contracts in forecasts, a trend that typically favors demand for smaller units.
Safety indicators for the neighborhood trend below national averages, reflecting higher-than-typical crime exposure compared with many U.S. neighborhoods. Relative to Cincinnati’s 611 tracked neighborhoods, the area ranks in the lower half for safety, suggesting investors should underwrite for enhanced on-site management, lighting, and access control.
Recent directional data are mixed: property offense rates show a year-over-year decline, while violent offense rates increased over the same period. For underwriting and operations, this supports a focus on preventative measures, resident screening, and partnerships with local public-safety initiatives to help stabilize perceptions and turnover risk.
Nearby corporate headquarters and major offices anchor a broad employment base that supports renter demand and commute convenience for residents. The list below highlights large employers within approximately five miles that can contribute to leasing stability.
- Kroger — retail & corporate offices (4.2 miles) — HQ
- Macy's — retail & corporate offices (4.4 miles) — HQ
- Humana — health insurance offices (4.5 miles)
- Fifth Third Bancorp — banking & corporate (4.6 miles) — HQ
- Procter & Gamble — consumer goods corporate (4.7 miles) — HQ
Built in 1979, the 36-unit property is newer than much of the surrounding housing stock, positioning it competitively versus older assets while still leaving room for targeted modernization and system upgrades. High renter concentration and occupancy near the metro median indicate a durable tenant base, and within a 3-mile radius, forward-looking data suggest an increase in households that can support leasing and minimize downtime.
Neighborhood rents start below national norms but have trended upward, creating potential to capture measured value-add upside without overreaching on pricing. At the same time, a 0.30 rent-to-income ratio points to affordability pressure that warrants careful renewal strategies and amenity-light upgrades. According to CRE market data from WDSuite, ownership remains relatively less accessible given local incomes, which can reinforce renter reliance on multifamily housing; however, lower absolute home values in the area may still create some competition with entry-level ownership.
- 1979 vintage offers competitive positioning versus older neighborhood stock with scope for targeted renovations
- High renter-occupied share supports tenant depth and leasing stability
- Forecast household growth within 3 miles expands the renter pool and supports occupancy
- Potential value-add via modest interior upgrades given sub-market rent positioning
- Risks: below-average safety metrics, limited nearby amenities, and affordability pressure require conservative underwriting and active management