| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 35th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 210 E Wagner St, Alger, OH, 45812, US |
| Region / Metro | Alger |
| Year of Construction | 1997 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
210 E Wagner St, Alger OH 36-Unit Multifamily
Neighborhood data points to an affordability-led renter base and comparatively low rent-to-income ratios, according to WDSuite’s CRE market data, which can support retention but may temper near-term pricing power. Metrics reflect neighborhood conditions, not the property, and should be weighed alongside asset-specific operations.
Located in a Rural neighborhood of Hardin County, the property benefits from a cost-conscious resident base and modest rent levels. Neighborhood median rents and rent-to-income ratios indicate relatively accessible housing costs, which can aid lease retention but may limit outsized rent growth. Local occupancy is below both metro and national norms, so underwriting should emphasize marketing efficiency and tenant retention strategies at the asset level.
The building’s 1997 vintage is newer than the neighborhood’s average construction year of 1969, offering a competitive edge versus older local stock. Investors should still budget for system updates and light value-add to modernize finishes and support leasing velocity against aging comparables.
Renter-occupied housing accounts for a moderate share of neighborhood units (renter concentration is above the metro median based on ranks), suggesting a defined—though not deep—tenant pool. In a smaller market, this typically supports stable day-to-day demand for workforce housing, but deal sizing and marketing should match the scale of the local renter base.
Livability indicators are mixed. School ratings are competitive among Hardin County neighborhoods (ranked 4th of 16), though they sit below national averages. Amenity density (retail, parks, cafes, and grocery) ranks last among 16 county neighborhoods and is low versus national peers, so the value proposition leans on affordability and convenience to regional job centers rather than walkable amenities. Demographic statistics aggregated within a 3-mile radius indicate population contraction and smaller household sizes over the past five years, which suggests careful attention to leasing, renewals, and unit mix positioning to sustain occupancy.
Neighborhood safety indicators compare favorably to national norms overall, with crime levels around the 63rd percentile nationally (safer than average), according to WDSuite’s data. Property offenses benchmark stronger—around the 91st percentile nationally—while violent offenses also index high for safety around the 88th percentile. Within Hardin County, the crime rank is 11th of 16 neighborhoods, indicating conditions that are above the metro median but not top-tier.
Recent year-over-year shifts show improvement in property offenses, but a less favorable short-term trend in violent offenses. These figures are neighborhood-level and should be corroborated with current local reporting and asset-specific security measures during due diligence.
Regional employment is anchored by energy and diversified industrial employers within commuting range, supporting workforce housing demand and lease retention for residents who prioritize drive-to-job convenience. The list below highlights nearby anchors relevant to the local renter base.
- Marathon Petroleum — energy & refining (24.9 miles) — HQ
- Parker-Hannifin Corporation — diversified industrial offices (43.8 miles)
This 36-unit asset built in 1997 is relatively newer than much of the surrounding housing stock, positioning it competitively against older properties while leaving room for selective renovations to enhance leasing appeal. The neighborhood skews affordability-driven, with low rent levels and rent-to-income ratios that can support tenant retention; however, local occupancy rates lag metro and national benchmarks, so performance will hinge on disciplined leasing and renewals. Based on commercial real estate analysis from WDSuite, investor focus should center on value-add execution, expense control, and alignment with a workforce renter profile.
The area’s moderate renter concentration supports a defined tenant base, and proximity to regional employers within 25–45 miles can underpin steady demand for drive-to-work housing. Limited amenity density and small-market scale are constraints, so underwriting should reflect conservative absorption, with upside tied to operational improvements and targeted unit updates rather than aggressive rent pushes.
- 1997 vintage versus older local stock supports competitive positioning with targeted renovations
- Affordability-led renter base can aid retention and stabilize occupancy through cycles
- Regional employers within commuting distance reinforce demand for workforce housing
- Risk: neighborhood occupancy trails metro and national norms—underwrite conservative lease-up and renewal assumptions