| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Best |
| Demographics | 44th | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 699 Morningside Dr, Kenton, OH, 43326, US |
| Region / Metro | Kenton |
| Year of Construction | 1982 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
699 Morningside Dr, Kenton OH Multifamily Investment
Neighborhood occupancy has been strong and rising, supporting stable cash flow potential for a 51-unit asset, according to WDSuite’s CRE market data. The area’s owner-leaning housing mix suggests a defined—but durable—renter segment for workforce-oriented product.
Kenton’s neighborhood surrounding 699 Morningside Dr is rated A+ and ranks 1st among 16 metro neighborhoods, indicating competitive location fundamentals for a smaller Ohio market. Amenity access trends near the national middle to upper range, with pharmacies and cafes testing above national medians, while parks are limited—an ordinary trade-off in Rural settings.
Multifamily demand signals are constructive: neighborhood occupancy is 96.3% and has improved over the past five years (measured for the neighborhood, not the property), suggesting solid leasing stability relative to many small-metro peers. Median contract rents remain low locally, and the rent-to-income ratio sits on the lower side, which reduces affordability pressure and can support retention; these dynamics align with commercial real estate analysis from WDSuite without signaling outsized pricing power.
The property’s 1982 vintage is newer than the neighborhood’s average construction year (1966), positioning it relatively well versus older stock while still warranting targeted system upgrades or cosmetic modernization to remain competitive. The share of housing units that are renter-occupied is about 29%, indicating an owner-leaning area; for investors, that implies a more focused but potentially stable tenant base rather than deep, transient renter churn—important for lease management and renewal strategies.
Demographic indicators aggregated within a 3-mile radius point to slight population growth over the last five years alongside smaller average household sizes. Together, that can support steady renter pool expansion for appropriately sized units, while the region’s relatively accessible home values may introduce some competition with ownership. Taken together, these factors suggest measured rent growth potential and a focus on asset quality and operations to sustain occupancy.
Safety metrics compare favorably at the national level. According to WDSuite, the neighborhood sits above the national median for safety (higher national percentiles indicate safer conditions) and trends show meaningful year-over-year declines in both property and violent incidents—an encouraging directional signal for investor underwriting.
Within the metro context, results are competitive among the 16 metro neighborhoods rather than an outlier. For investors, the combination of nationally above-median safety percentiles and improving recent trends supports lease-up and retention narratives without relying on speculative assumptions.
Regional employment anchors within commuting range include energy and diversified industrial employers, supporting workforce housing demand and commute convenience for tenants. This section highlights Marathon Petroleum and Parker-Hannifin, which contribute to the broader labor market accessible from Kenton.
- Marathon Petroleum — energy (26.5 miles) — HQ
- Parker-Hannifin Corporation — diversified industrials (33.7 miles)
A 51-unit asset built in 1982 offers relative competitiveness versus older neighborhood stock while leaving room for targeted value-add improvements. Based on CRE market data from WDSuite, the surrounding neighborhood posts high and rising occupancy (neighborhood-level), a low rent-to-income profile that supports retention, and national-level safety percentiles that are above the median—ingredients for steady operations in a smaller-market context.
Investor considerations include an owner-leaning housing mix (renter-occupied share near 29%), which means demand is present but concentrated, plus home values that are relatively accessible for owners, which may compete with rentals. Execution should focus on maintaining asset quality, calibrating rents to preserve retention, and selective modernization to differentiate against older inventory.
- Neighborhood occupancy is high and improving (neighborhood-level), supporting leasing stability.
- 1982 vintage is newer than local averages, with targeted value-add and systems upgrades as upside.
- Low rent-to-income profile points to lower affordability pressure and potential for measured rent growth.
- Risk: Owner-leaning tenure and relatively accessible ownership can temper depth of the renter pool.
- Risk: Limited parks and below-median school ratings may influence some renter segments.