| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 20th | Poor |
| Demographics | 35th | Fair |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 655 East St, Kenton, OH, 43326, US |
| Region / Metro | Kenton |
| Year of Construction | 1978 |
| Units | 36 |
| Transaction Date | 2015-12-15 |
| Transaction Price | $1,100,000 |
| Buyer | KENTON VILLAGE TOWNHOMES LLC |
| Seller | KENTON VILLAGE LTD |
655 East St, Kenton OH Multifamily Investment
Neighborhood occupancy and rent levels indicate durable workforce housing dynamics relative to regional peers, according to CRE market data from WDSuite, suggesting stable leasing with measured upside rather than rapid growth.
Kenton’s local fundamentals skew practical for workforce housing. Grocery, parks, and pharmacy access rank competitively among 16 Hardin County neighborhoods, with grocery and parks in the upper tier and restaurants also above the metro median, while cafés and childcare options are sparse. For investors, this translates to daily-needs convenience that supports retention, despite limited lifestyle amenities.
The neighborhood’s housing stock skews older than the property, with an average vintage near the late 1940s across the metro comparison set (measured against 16 neighborhoods). By contrast, the asset’s 1978 construction should be relatively competitive to nearby inventory while still warranting standard capital planning for aging systems and potential cosmetic upgrades to drive rent positioning.
Renter concentration is modest (renter-occupied share ranks competitively among 16 local neighborhoods but remains far from renter-heavy urban cores). This points to a smaller, but steady, tenant base; lease-ups may require targeted marketing, yet day-to-day demand can be resilient where residents prioritize proximity to employment and essential services.
Occupancy in the neighborhood sits below national norms but is competitive among Hardin County submarkets, implying some vacancy slack alongside room to capture share through unit turns and operational execution. Low absolute rents and a manageable rent-to-income profile indicate limited affordability pressure for tenants, which can aid retention and reduce delinquency risk.
Safety trends compare favorably. The neighborhood ranks well within Hardin County (measured against 16 neighborhoods) and sits in the higher national percentiles for safety, indicating comparatively safer conditions versus many U.S. neighborhoods. Recent data also shows notable year-over-year improvement in both property and violent offense rates, reinforcing a constructive trajectory rather than a one-off reading.
Investors should still underwrite property-level controls and lighting, but the broader pattern—top-quartile positioning nationally on composite safety metrics—supports leasing stability and resident retention relative to similar rural markets.
Proximity to established employers supports a consistent renter base and reasonable commute times, particularly for energy, manufacturing, and healthcare distribution roles that align with workforce housing demand.
- Marathon Petroleum — energy refining (27.5 miles) — HQ
- Parker-Hannifin Corporation — industrial manufacturing (33.0 miles)
- Cardinal Health — healthcare distribution (44.4 miles) — HQ
This 36-unit, 1978-vintage asset offers a practical, defensible position in a rural Ohio submarket where daily-needs amenities are accessible, renter affordability looks manageable, and safety trends are constructive. Compared with an older neighborhood baseline, the vintage provides relative competitiveness while leaving room for value-add through modernization and common-area updates.
According to CRE market data from WDSuite, local occupancy trails national levels but is competitive within the Hardin County set, suggesting achievable stabilization via focused leasing and turn execution. Low home values and modest rents indicate an ownership market that can compete with rentals, yet the manageable rent-to-income profile and access to regional employers point to steady workforce demand and retention.
- 1978 vintage is newer than much of the local stock, with clear modernization and value-add paths.
- Essential retail access (grocery, parks, pharmacy) supports day-to-day livability and retention.
- Workforce demand supported by proximity to regional employers across energy, manufacturing, and healthcare distribution.
- Manageable rent-to-income profile provides pricing flexibility while supporting occupancy stability.
- Risks: neighborhood occupancy below national norms and accessible ownership options may require sharper leasing and amenity positioning.