| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 29th | Poor |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6000 Townvista Dr, Cincinnati, OH, 45224, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1981 |
| Units | 100 |
| Transaction Date | 2006-09-25 |
| Transaction Price | $4,500,000 |
| Buyer | THE SALVATORE ARMY BOOTH RESIDENCE LP |
| Seller | BOOTH RESIDENCE INC |
6000 Townvista Dr Cincinnati Multifamily Investment
Neighborhood occupancy remains firm and renter demand is deep, according to WDSuite’s CRE market data for the surrounding area, supporting stable cash flow potential for well-managed assets. These statistics reflect the immediate neighborhood, not the property, and point to steady leasing fundamentals in an inner-suburban Cincinnati location.
The property sits in an Inner Suburb of Cincinnati with neighborhood occupancy measured at 97.8% and ranked 156 out of 611, making it competitive among Cincinnati neighborhoods. While amenities like cafes, groceries, and parks are sparse within the neighborhood, the area’s high renter concentration (measured as a large share of renter-occupied housing units) helps sustain depth of tenant demand and supports leasing stability for multifamily operators.
Within a 3-mile radius, WDSuite’s data shows modest population growth over the past five years and an increase in households, both of which translate into a larger tenant base and reinforce demand for rental units. Forward-looking projections indicate continued population and household gains through 2028, which should support occupancy stability and absorption for renovated or well-priced units.
Home values in the neighborhood sit at lower absolute levels but are elevated relative to local incomes, indicating a high-cost ownership market for nearby residents; this dynamic can sustain reliance on multifamily housing and aid lease retention. Rent-to-income trends point to some affordability pressure, so disciplined lease management and measured rent setting remain important for pricing power without increasing turnover risk.
Schools in the neighborhood score below average and local retail/amenity density is limited, which may temper appeal for some renter segments. However, the subject’s 1981 vintage is newer than the neighborhood’s average 1959 construction year, offering relative competitiveness versus older stock; investors should still anticipate targeted modernization and systems upgrades as part of capital planning to capture value-add upside.
Based on WDSuite neighborhood benchmarks, this area ranks 352 out of 611 Cincinnati metro neighborhoods on crime, placing it below the metro average for safety and toward the lower end nationally. National percentiles indicate higher reported crime relative to many U.S. neighborhoods, so underwriting should reflect prudent security, lighting, and operational controls.
Recent year-over-year trends show increases in reported violent incidents alongside relatively stable property offenses. For investors, this suggests adding practical risk mitigants (e.g., access control, cameras, and resident engagement) and aligning insurance assumptions and operating reserves with current neighborhood conditions rather than historical lows.
Proximity to established employers supports workforce housing demand and commute convenience, with nearby offices for Procter & Gamble Co., Humana, Prudential Financial, Kroger, and HP contributing to a diversified employment base.
- Procter & Gamble Co. — consumer goods offices (0.65 miles)
- Humana — healthcare & insurance (5.9 miles)
- Prudential Financial — financial services (6.1 miles)
- Kroger — grocery & consumer goods (6.5 miles) — HQ
- HP — technology offices (6.8 miles)
The investment case centers on resilient renter demand and competitive occupancy at the neighborhood level, with a renter-occupied housing share that supports a durable tenant base. According to CRE market data from WDSuite, neighborhood occupancy is competitive among Cincinnati submarkets, while 3-mile demographic trends point to modest population growth and increasing households, reinforcing leasing stability for value-focused apartments.
Built in 1981, the asset is newer than much of the local housing stock, positioning it well versus older comparables while leaving room for targeted renovations and systems modernization. Ownership costs remain relatively high for many nearby households given local incomes, which can sustain reliance on rentals and aid lease retention; operators should balance this strength with prudent affordability management and attention to safety and amenity-light surroundings.
- Neighborhood occupancy competitive among Cincinnati areas, supporting leasing stability
- 3-mile radius shows population and household growth, expanding the renter pool
- 1981 vintage offers relative competitiveness with value-add/modernization upside
- Ownership costs vs. local incomes reinforce renter reliance, aiding retention
- Risks: lower safety rankings and limited neighborhood amenities require operational mitigants