| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 31st | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3750 Reading Rd, Cincinnati, OH, 45229, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1975 |
| Units | 29 |
| Transaction Date | 2013-04-29 |
| Transaction Price | $383,926 |
| Buyer | PE GEORGIA MORRIS REALTY LLC |
| Seller | DOWNTOWN PROPERTY MANAGEMENT INC |
3750 Reading Rd Cincinnati Multifamily Investment
Neighborhood renter-occupied share is among the highest in the Cincinnati metro, supporting depth of tenant demand and lease-up resilience, according to WDSuite's CRE market data.
Located in an Inner Suburb of Cincinnati, the property sits in a predominantly renter-oriented neighborhood. The renter-occupied share ranks near the top among 611 metro neighborhoods, indicating a deep tenant base that can help support occupancy and leasing velocity for multifamily assets.
Neighborhood occupancy is reported at 87.8% with an upward trend over the past five years, based on CRE market data from WDSuite. That directional improvement suggests stability potential even as the submarket remains price-sensitive. Local amenities within the immediate neighborhood are limited, which places more weight on access to employment nodes and transportation corridors for day-to-day convenience.
Vintage context matters: the average construction year in the neighborhood skews early 20th century, while this asset was built in 1975. Being newer than much of the surrounding stock can enhance relative competitiveness versus older buildings nearby, but investors should still plan for typical mid-1970s systems, common area refreshes, and unit renovations as part of a value-add or capital program.
Within a 3-mile radius, population has edged higher and households have increased, with forecasts pointing to further household gains through 2028. This pattern implies a larger tenant base over time and supports occupancy stability. Median home values in the neighborhood are elevated relative to incomes, signaling a high-cost ownership environment that tends to sustain reliance on rental housing and can aid lease retention for well-managed multifamily properties.
Safety indicators are mixed. The neighborhood’s crime rank sits around the metro median (302 out of 611), suggesting conditions that are neither among the best nor the worst locally. Nationally, the area trends below median safety percentiles, so prudent security practices and tenant screening remain important considerations for operations.
Recent momentum is noteworthy: property-related offenses show a sizable year-over-year decline, placing the improvement in a higher national percentile for reduction. However, violent incident rates remain elevated relative to national norms. For investors, the takeaway is to underwrite to enhanced safety measures and consider targeted improvements that reinforce on-site security and resident peace of mind.
Proximity to major employers underpins renter demand, with a cluster of corporate offices a short drive away. The employers below represent nearby anchors that can support leasing and retention via steady commuter flows.
- Humana — health insurance (2.5 miles)
- Kroger — grocery retail (3.5 miles) — HQ
- Procter & Gamble — consumer goods (3.5 miles) — HQ
- Hp — technology offices (3.5 miles)
- Western & Southern Financial Group — financial services (3.7 miles) — HQ
This 29-unit, 1975-vintage asset aligns with a neighborhood that demonstrates strong renter concentration and improving occupancy, providing a foundation for cash flow durability. Within a 3-mile radius, rising household counts and projected growth suggest a larger tenant base ahead, while the local ownership market’s elevated costs reinforce reliance on multifamily housing.
According to commercial real estate analysis from WDSuite, the immediate neighborhood is amenity-light and price-sensitive, which points to value-add potential through targeted unit upgrades and practical property improvements that enhance livability. Underwriting should account for operational focus on resident experience, safety measures, and affordability management to support retention and steady leasing.
- High renter concentration among 611 metro neighborhoods supports a deep tenant base and leasing resilience.
- 1975 vintage offers value-add potential through systems updates, interior renovations, and common area refreshes.
- 3-mile household growth and a high-cost ownership landscape support sustained multifamily demand and occupancy stability.
- Risks: below-median national safety standing, amenity scarcity, and rent-to-income pressure call for prudent underwriting and active management.