| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 45th | Fair |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3640 Church St, Cincinnati, OH, 45244, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1990 |
| Units | 40 |
| Transaction Date | 2014-01-31 |
| Transaction Price | $3,000,000 |
| Buyer | Jody T. Klekamp |
| Seller | Glacid Group, Inc. |
3640 Church St, Cincinnati OH Multifamily Opportunity
Positioned in a suburban pocket of Hamilton County with a renter-occupied presence, the area shows steady demand at attainable rent levels, according to WDSuite’s CRE market data. Neighborhood occupancy has softened in recent years, so underwriting should prioritize leasing strategy and tenant retention.
This Cincinnati suburban neighborhood carries a C+ rating and sits below the metro median on overall performance (ranked 409 among 611 neighborhoods), indicating a market where careful operations and pricing discipline matter. Median asking rents in the neighborhood are above the metro median (57th percentile nationally), while neighborhood occupancy has trended down over five years; these are neighborhood-level indicators, not property performance. For investors, that combination suggests attention to lease management and value positioning will be important to sustain occupancy.
Livability features are mixed. Amenity depth is below the metro median overall, with limited access to neighborhood grocery, parks, and pharmacies, though café density tests above many U.S. peers (73rd percentile nationally). Average household size in the neighborhood is comparatively higher than many areas (nationally 84th percentile), which can support larger-unit demand. School rating data is not available here, so diligence should include district and campus-level checks.
Tenure patterns signal a renter base to serve. Neighborhood renter-occupied share is meaningful (77th percentile nationally), indicating depth for multifamily, while the broader 3-mile area is more owner-heavy today. In the 3-mile radius, households increased over the last five years and are projected to continue rising even as population is expected to contract modestly, implying smaller household sizes and a potentially expanding renter pool over time. All demographic statistics are aggregated within a 3-mile radius.
Vintage context favors the subject property. The neighborhood’s average construction year skews older (1937), while the property’s 1990 build should compete well against older stock; investors should still plan for aging systems and targeted modernization to bolster leasing and retention versus renovated comparables.
Neighborhood safety indicators compare favorably to many U.S. areas. Overall crime levels are in the 68th percentile nationally (safer than average), and both violent and property incident rates improved year over year, with notable declines in estimated property offenses and a measurable decrease in violent incidents. These are neighborhood-level trends and can support renter retention when combined with sound onsite practices.
Investors should evaluate micro-level patterns and recent comps during diligence, but the directional improvements and mid-to-higher national standing suggest conditions that are competitive among many Cincinnati neighborhoods.
Proximity to major employers in and around downtown Cincinnati supports a commuter tenant base and can aid leasing stability. Key nearby employers include Humana, Kroger DCIC, Procter & Gamble, Western & Southern Financial Group, and HP.
- Humana — insurance & healthcare services (7.6 miles)
- Kroger DCIC — corporate offices (8.1 miles)
- Procter & Gamble — consumer goods (8.1 miles) — HQ
- Western & Southern Financial Group — financial services (8.2 miles) — HQ
- Hp — technology offices (8.3 miles)
3640 Church St is a 1990-vintage, 40-unit asset competing in a neighborhood where rents are above the metro median but occupancy has eased, based on CRE market data from WDSuite. That backdrop favors disciplined pricing, targeted renovations, and strong tenant services to sustain occupancy while capturing rent growth consistent with submarket fundamentals. The property’s newer vintage relative to the neighborhood’s older stock provides a competitive edge, though investors should budget for system updates common to late-1980s/1990s construction.
Within a 3-mile radius, households have grown and are projected to increase further even as overall population is expected to decline, pointing to smaller household sizes and a broader base of potential renters. Ownership costs in the area are elevated relative to incomes by national comparison, while rent-to-income readings suggest manageable affordability pressures—conditions that can support lease retention and steady absorption when paired with effective operations.
- 1990 vintage competes well versus older neighborhood stock; plan for targeted system and finish upgrades.
- Neighborhood rents above metro median with manageable rent-to-income readings support pricing power with careful underwriting.
- 3-mile households rising despite flat-to-down population implies a larger renter base over time.
- Nearby blue-chip employers underpin commuter demand and retention potential.
- Risks: softer neighborhood occupancy and lighter amenity depth require proactive leasing and operations.