| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 49th | Good |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 126 W North Ave, Ada, OH, 45810, US |
| Region / Metro | Ada |
| Year of Construction | 1989 |
| Units | 93 |
| Transaction Date | 2025-04-16 |
| Transaction Price | $1,300,000 |
| Buyer | BUTLERS INVESTMENT PROPERTIES CO |
| Seller | WYNDHAM ENTERPRISES LTD |
126 W North Ave Ada Multifamily Investment
Renter-occupied housing is comparatively strong in the neighborhood, supporting demand stability, according to WDSuite’s CRE market data. Neighborhood figures such as occupancy and school quality reflect conditions around the property, not performance of the property itself.
The property sits in an A-rated, Rural neighborhood that ranks 2 out of 16 within the metro, placing it in the top quartile among 16 metro neighborhoods for overall neighborhood quality. This positioning suggests durable livability fundamentals that can help underpin leasing, even as investors should underwrite conservatively for a smaller-market setting.
Schools in the area score above the metro median and land in the top quartile nationally, a supportive indicator for family-oriented renter demand. Neighborhood amenities are modest but functional for a rural context, with grocery and pharmacy access measuring above national midpoints, while cafes and restaurants are thinner than urban counterparts.
Multifamily demand is reinforced by a leading share of renter-occupied housing units in the neighborhood (ranked best among 16 local neighborhoods), indicating a deeper tenant base for this submarket. By contrast, the neighborhood’s occupancy rate ranks below the metro median, so investors should plan for active leasing and asset management to sustain performance relative to peers.
Within a 3-mile radius, demographic statistics point to a modest population base typical of rural Ohio. Ownership costs in the area are comparatively lower versus many U.S. neighborhoods, which can introduce some competition from entry-level ownership; however, relatively favorable rent-to-income dynamics (high national percentile) can support retention and reduce turnover risk from affordability pressure.
The asset’s 1989 construction is newer than the neighborhood’s average vintage (1967), which can be a competitive edge versus older housing stock. Still, systems are approaching mid-life, so selective modernization or value-add improvements may be warranted to differentiate on finishes and energy efficiency.
Neighborhood safety indicators are comparatively favorable versus many U.S. neighborhoods, with overall crime metrics sitting above the national median. Within the metro, the neighborhood ranks 13 out of 16 on crime, which is below the metro median and suggests investors should budget for standard safety-forward property management practices.
Property offense measures trend better than national norms and have improved year over year, while violent offense indicators sit above the national median but warrant ongoing monitoring. Taken together, trends are directionally constructive at the national comparison level, and metro-relative positioning highlights the value of pragmatic, prevention-oriented operations.
Regional employment access is anchored by energy and corporate services within commuting range, supporting workforce housing demand and lease retention for residents traveling to nearby job centers.
- Marathon Petroleum — energy refining (20.1 miles) — HQ
This 93-unit asset offers exposure to an A-rated neighborhood with a leading share of renter-occupied housing units, indicating depth in the tenant base. The property’s 1989 vintage is newer than much of the local housing stock, which can support competitiveness against older alternatives, though targeted upgrades may enhance positioning. According to CRE market data from WDSuite, neighborhood conditions show strong schools and adequate daily-needs amenities, while occupancy ranks below the metro median—suggesting value in disciplined leasing and renewal strategies.
From a risk-reward standpoint, relatively favorable rent-to-income dynamics can support retention and pricing discipline, while lower regional ownership costs may create incremental competition from entry-level buyers. On balance, the mix of stable community fundamentals, commuter access to regional employers, and potential value-add through modernization presents a measured, long-term thesis.
- A-rated neighborhood; competitive schools and everyday amenities support renter appeal
- Newer 1989 vintage versus local average provides an edge over older stock
- High renter-occupied share signals a deeper local tenant base
- Active leasing focus advisable as neighborhood occupancy trails metro median
- Monitor competition from comparatively accessible ownership options in the region