| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 32nd | Poor |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3620 Washington Ave, Cincinnati, OH, 45229, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1972 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3620 Washington Ave Cincinnati 27-Unit Value-Add Opportunity
Steady renter demand in this inner-suburban pocket of Cincinnati supports small-format units and operational upside, according to WDSuite's CRE market data. Neighborhood indicators point to stable occupancy at the area level, with fundamentals shaped by proximity to major employers and a deep renter base.
Location fundamentals lean workforce-oriented. The surrounding neighborhood carries a C+ rating and sits below the metro median (ranked 421 of 611 Cincinnati neighborhoods), yet amenity access is competitive among Cincinnati neighborhoods based on its amenity rank (231 of 611). Strong park coverage and convenient childcare density enhance day-to-day livability relative to nearby areas, while walkable retail such as cafes, groceries, and restaurants is limited within the immediate neighborhood.
Occupancy at the neighborhood level is near 90% and has trended upward over the past five years, based on CRE market data from WDSuite. A high share of renter-occupied housing (roughly 70% of units) indicates depth in the tenant base and supports leasing stability for multifamily. Rent levels in the neighborhood are modest compared with many U.S. areas, which can help sustain absorption but may temper near-term pricing power.
Within a 3-mile radius, population and household counts have grown in recent years, and forecasts point to additional household growth, expanding the potential renter pool. Median rents in this radius have risen over the past five years, while rent-to-income ratios remain comparatively manageable, suggesting some headroom for disciplined revenue management.
Vintage matters for competitive positioning. Built in 1972, the property is newer than much of the nearby housing stock (average vintage skews to the 1920s), which can be an advantage versus older product; investors should still plan for systems modernization and selective renovations to defend occupancy and capture value-add upside.
School ratings in the neighborhood are below national averages, which may limit appeal to households prioritizing schools; however, the submarket's renter concentration and proximity to employment centers align it more with adult and student renters. Home values in the area are relatively accessible by national standards, which can introduce some competition from ownership, but the high renter concentration continues to reinforce reliance on multifamily options.
Safety metrics point to elevated crime relative to many Cincinnati neighborhoods, with the area ranking in the lower half locally (crime rank 337 of 611) and below the national median for safety. Nationally, this places the neighborhood in a lower percentile compared with safer areas across the country.
Recent trends are mixed: estimated property offenses have declined year over year, while violent offense estimates have moved less favorably. Underwriting typically accounts for enhanced security measures, resident screening, and community partnerships to support retention and protect revenue where safety trends are uneven.
Proximity to major employers downtown and in nearby districts supports commuter convenience and a durable renter base. Key anchors include Humana, Kroger, Procter & Gamble, Macy's, and Western & Southern Financial Group.
- Humana — insurance & healthcare services (2.26 miles)
- Kroger — grocery & consumer goods (3.13 miles) — HQ
- Procter & Gamble — consumer products (3.24 miles) — HQ
- Macy's — retail corporate offices (3.35 miles) — HQ
- Western & Southern Financial Group — insurance & financial services (3.38 miles) — HQ
3620 Washington Ave offers a 27-unit, smaller-format multifamily asset positioned for value-add execution in an inner-suburban Cincinnati location. The neighborhood shows stable renter demand supported by a high renter-occupied share and occupancy that has improved over the past five years. According to CRE market data from WDSuite, local rents are modest relative to many U.S. areas, which supports absorption and retention while leaving room for measured rent optimization tied to renovations and operations.
Constructed in 1972, the property is newer than much of the surrounding housing stock, offering a competitive edge versus older buildings; targeted system upgrades and unit refreshes can further differentiate the asset. Within a 3-mile radius, recent and projected increases in households suggest a larger tenant base over time, which can support occupancy stability and value creation with disciplined capital planning.
- High renter concentration and steady neighborhood occupancy support demand durability
- 1972 vintage is newer than nearby stock, enabling competitive positioning post-renovation
- 3-mile household growth and rising rents indicate a widening renter pool
- Modest area rents and manageable rent-to-income ratios provide room for disciplined revenue management
- Risks: below-median safety metrics, limited walkable retail, and potential competition from relatively accessible homeownership