| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 27th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 205 W Shadley St, Alger, OH, 45812, US |
| Region / Metro | Alger |
| Year of Construction | 1992 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
205 W Shadley St, Alger OH Multifamily Investment
Steady renter demand in a rural submarket, with neighborhood occupancy trending stable according to WDSuite’s CRE market data. For investors, the combination of moderate renter concentration and lower fixed housing costs supports predictable operations over a full cycle.
Located in rural Hardin County, the neighborhood offers a quieter setting with limited nearby retail and services, which can favor modest operating costs but requires thoughtful leasing strategy. Amenity access ranks last among 16 metro neighborhoods, reinforcing that most daily needs may require short drives.
Neighborhood occupancy is reported at 89.5%, and has improved over the past five years, indicating stable renter demand and support for cash flow durability. The share of housing units that are renter-occupied is 30.9%, a level that is competitive among Hardin County neighborhoods (rank 2 of 16), suggesting a viable tenant base for a 25‑unit property.
Median contract rents are lower in this area ($480), while the rent-to-income ratio sits near the national midrange, pointing to manageable affordability pressure that can aid resident retention. Median home values around $126,700 indicate a more accessible ownership market relative to larger metros; for multifamily owners this can mean some competition from entry-level home purchases, so pricing and retention strategies matter.
The property’s 1992 vintage is newer than the neighborhood’s older housing stock (average year 1949). That positioning can be a leasing advantage against aging comparables, while still planning for selective system updates and light modernization to sustain competitiveness. These dynamics align with pragmatic, small-market multifamily property research focused on durable occupancy rather than outsized rent growth.
Safety indicators compare favorably to national norms: the neighborhood sits around the 60th percentile nationally for overall crime, with violent and property offense measures nearer the upper 80s to low 90s percentiles, indicating comparatively safer conditions than many U.S. neighborhoods. Within the Hardin County context, ranks signal mid-pack performance among 16 neighborhoods.
Recent year-over-year trends show a rise in estimated violent offense rates, so investors should incorporate ongoing monitoring and standard property-level measures (lighting, access control, resident engagement) to preserve tenant confidence and leasing stability. As with any submarket, focusing on well-managed operations helps maintain the area’s relative safety position over time.
Regional employment anchors within commuting distance include Marathon Petroleum and Parker-Hannifin, supporting renter demand from commuting households that value stable hours and predictable drive times.
- Marathon Petroleum — energy & refining (24.7 miles) — HQ
- Parker-Hannifin Corporation — diversified manufacturing (44.2 miles)
This 25‑unit asset (average unit size ~623 sf) offers defensive characteristics in a rural Ohio location: stable neighborhood occupancy, a renter-occupied share that is competitive among local neighborhoods, and operating costs supported by lower market rents. According to CRE market data from WDSuite, area occupancy has improved over the past five years, reinforcing the case for steady leasing even as amenities remain limited.
Built in 1992, the property is newer than much of the surrounding housing stock, positioning it well versus older comparables while still benefiting from targeted upgrades to extend useful life and refresh interiors. With more accessible ownership costs in the area, operators should emphasize value positioning, retention, and resident experience to mitigate competition from entry-level home purchases.
- Neighborhood occupancy near 90% supports cash flow stability
- Renter-occupied share competitive within Hardin County (2 of 16) indicates a viable tenant base
- 1992 vintage offers competitive positioning versus older local stock with light value‑add potential
- Lower market rents and midrange rent-to-income ratio can aid retention and lease management
- Risks: limited nearby amenities and more accessible homeownership require disciplined pricing and resident retention strategy