| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 49th | Good |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 W Lima Ave, Ada, OH, 45810, US |
| Region / Metro | Ada |
| Year of Construction | 1994 |
| Units | 47 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
401 W Lima Ave, Ada OH Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by schools and workforce access, according to WDSuite’s CRE market data. Investor takeaway: the area’s renter concentration is elevated for the region while overall occupancy is measured at the neighborhood level, not the property.
Ada’s neighborhood scores are competitive within Hardin County, with an A rating and a rank of 2 out of 16 neighborhoods — placing it in the top quartile among 16 metro neighborhoods. For investors, this indicates submarket-level resilience rather than outlier performance.
Renter-occupied share is 36.3% (neighborhood tenure), ranked 1 of 16 and in the 76th percentile nationally. This deeper renter base supports leasing velocity and day-to-day demand for multifamily units, while neighborhood occupancy (not the property’s) is 86.9% and sits below both metro and national medians, suggesting the need for active leasing and retention strategies.
Schools rate above average, with the neighborhood’s average school score ranking 1 of 16 and in the 73rd percentile nationally — a tailwind for tenant retention among family households. Amenities are modest for a rural setting (amenity measures cluster near the middle of national distributions), with everyday needs like parks and pharmacies each near the low-60s national percentiles, which aligns with a practical but not highly amenitized location.
The property’s 1994 vintage is newer than the neighborhood’s average construction year of 1967, which can support competitive positioning versus older stock; investors should still plan for system updates typical of 1990s assets. Home values in this neighborhood index below national medians (around the 20th percentile), which can mean more accessible ownership options nearby; this dynamic may temper rent growth but can also support stable renewal rates when paired with prudent pricing. The neighborhood’s rent-to-income ratio sits in a high national percentile (91st), indicating relatively low rent burden, which can help limit affordability pressure and support lease stability.
Safety indicators compare favorably both locally and nationally. The neighborhood’s overall crime rank is 13 out of 16 within the metro, placing it above the metro median for safety, and national comparisons position the area around the upper mid-range (about the 59th percentile). Property-related incidents trend comparatively lower than many areas nationwide (roughly the 66th percentile) with an estimated one-year decline of about a quarter, which supports an improving backdrop for resident retention and operations.
These are neighborhood-level indicators, not property-level measures. Conditions can vary by block and over time, so investors should corroborate trends with current local data as part of standard diligence.
Regional employment anchors contribute to a stable renter pool by providing steady, commutable jobs; key among them is Marathon Petroleum, which supports workforce housing demand in the broader area.
- Marathon Petroleum — energy & refining (21.2 miles) — HQ
Built in 1994 with 47 units, the property is relatively newer than much of the local housing stock, offering a competitive edge against older inventory while leaving room for selective capital upgrades. The neighborhood sits in the top quartile among 16 metro neighborhoods and benefits from an elevated renter concentration and above-median school performance, which can support leasing and renewals. According to CRE market data from WDSuite, neighborhood occupancy trends below metro and national averages, so execution will matter — but the combination of a sizable renter base and practical rural amenities positions the asset for steady operations with disciplined management.
Ownership costs in the area are comparatively accessible versus national levels, which can introduce competition from for-sale alternatives; however, the neighborhood’s high national standing for rent-to-income suggests manageable affordability pressure that can aid retention when pricing is calibrated to local incomes.
- 1994 vintage is newer than neighborhood average, supporting competitive positioning with manageable capex planning
- Elevated renter-occupied share (neighborhood tenure) deepens the tenant base for multifamily demand
- Above-median school ratings bolster family demand and renewal prospects
- Rural amenity set is serviceable; operations benefit from workforce access within commutable range
- Risk: neighborhood occupancy trails metro/national; prudent leasing strategy and pricing discipline are important amid accessible for-sale alternatives