| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 74th | Best |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 791 Neeb Rd, Cincinnati, OH, 45233, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1978 |
| Units | 36 |
| Transaction Date | 2011-08-31 |
| Transaction Price | $1,360,000 |
| Buyer | NEEB ROAD LLC |
| Seller | THE ROELL FAMILY LIMITED LIABILITY COMPA |
791 Neeb Rd, Cincinnati Value-Add Multifamily
Strong neighborhood occupancy and rising incomes point to durable renter demand, according to CRE market data from WDSuite, while the 1978 vintage suggests clear value-add potential through targeted renovations.
Situated in a suburban pocket of Cincinnati with a B+ neighborhood rating, this location is competitive among Cincinnati neighborhoods (191 out of 611). Neighborhood occupancy is high and sits in the top quintile nationally, indicating stable leasing conditions for nearby multifamily assets; note this reflects neighborhood trends, not this specific property.
Livability skews toward everyday convenience rather than dense urban amenity clusters. Restaurant density is above national norms, while grocery access is steady; cafes, parks, and pharmacies are thinner locally. Average school ratings test well (top quintile nationally), a factor that can underpin family-oriented retention and longer tenures.
Within a 3-mile radius, demographic data show a recent dip in population, but projections indicate population and household growth over the next five years alongside smaller average household sizes. For investors, that mix points to a larger tenant base over time and potential renter pool expansion, which can support occupancy stability.
Tenure patterns within 3 miles are owner-tilted, with roughly a quarter of housing units renter-occupied, which can temper the immediate depth of demand but often supports steadier tenancy for well-managed properties. Elevated household incomes and a low rent-to-income ratio in the neighborhood translate to manageable affordability pressure, creating room for measured rent steps with attention to lease management and retention. The median home value locally is higher than many Midwest submarkets; in practice, this high-cost ownership market helps sustain reliance on rental housing and can support pricing power for quality multifamily.
The property s 1978 construction predates the neighborhood s average vintage (late 1980s). From an investor perspective, that typically implies near- to medium-term capital planning needs and a clear value-add or modernization path to compete effectively with newer stock.
Neighborhood safety indicators compare favorably at the national level, with crime measures in the top quartile nationwide. Recent data also point to year-over-year improvement in both property and violent offense rates. These metrics describe broader neighborhood trends rather than block-level conditions, and they can support leasing stability and retention when paired with active on-site management.
Within the Cincinnati metro (611 neighborhoods), the area s crime profile is competitive, and national percentiles indicate relatively safer conditions versus many U.S. neighborhoods. Investors should still underwrite for standard security measures and monitoring to maintain performance over the hold period.
Proximity to major employers provides a diversified white-collar employment base that supports commuter convenience and multifamily leasing. Nearby anchors include utilities, retail headquarters, banking, and consumer goods.
- Duke Energy utilities (4.8 miles)
- Kroger grocery retail (6.6 miles) HQ
- Macy's department store retail (6.7 miles) HQ
- Fifth Third Bancorp banking (6.8 miles) HQ
- Procter & Gamble consumer goods (7.1 miles) HQ
This 36-unit property combines stable neighborhood fundamentals with clear renovation upside. Neighborhood occupancy trends are strong relative to national norms, and within a 3-mile radius incomes are high with rent levels that leave headroom for measured increases tied to improvements. Based on CRE market data from WDSuite, ownership costs in the area skew higher than many Midwest markets, which helps sustain reliance on rental housing and supports pricing power for well-positioned assets.
The 1978 vintage suggests actionable value-add levers interior updates, building systems, and curb appeal to sharpen competitiveness against newer stock (the neighborhood skews late-1980s on average). Smaller average unit sizes can align with attainability and broaden the renter base, but investors should budget for modernization to capture that demand. Forward-looking 3-mile projections indicate growth in households and a smaller average household size, pointing to a larger renter pool over time and supporting occupancy stability.
- Strong neighborhood occupancy and high national safety positioning support leasing stability
- 1978 vintage offers clear value-add potential through targeted renovations and systems upgrades
- High incomes and low rent-to-income dynamics suggest room for measured rent steps with focus on retention
- 3-mile projections show household growth and smaller sizes, expanding the renter pool over time
- Risks: owner-tilted tenure and thinner amenity mix require disciplined marketing and active asset management