| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Best |
| Demographics | 44th | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 815 Morningside Dr, Kenton, OH, 43326, US |
| Region / Metro | Kenton |
| Year of Construction | 2000 |
| Units | 72 |
| Transaction Date | 2016-06-06 |
| Transaction Price | $2,200,000 |
| Buyer | PREMIER NORTHFIELD MN LLC |
| Seller | EAGLES POINT LP |
815 Morningside Dr, Kenton OH Multifamily Investment
Steady neighborhood occupancy and renter affordability point to durable leasing for a 72-unit asset, according to WDSuite’s CRE market data. Expect stable day-to-day operations with measured rent positioning rather than outsized growth.
Kenton’s neighborhood fundamentals lean toward stable operations for workforce-oriented multifamily. Neighborhood occupancy is strong (96.3%) and sits in the top quartile nationally, based on WDSuite’s CRE market data. Renter-occupied share is moderate at 29.2%, indicating a meaningful but not oversaturated tenant base that can support consistent leasing without relying on transient demand.
Local amenity access is balanced for a rural setting: pharmacies, childcare, and cafés rank first among 16 metro neighborhoods, with groceries and restaurants near the top (ranked second of 16). Park access is limited (last of 16), which may slightly reduce lifestyle appeal, but everyday services remain convenient for residents.
Construction year averages in the neighborhood skew older (average 1966; ranked 8 of 16 in the metro), while the subject property’s 2000 vintage offers a competitive edge versus older stock. Investors should still plan for typical system updates as the asset approaches its mid-life cycle, but the vintage supports leasing versus pre-1980 comparables.
Within a 3-mile radius, population has edged up in recent years and median household incomes are modest relative to national levels, reinforcing the need for value-oriented positioning. A low rent-to-income ratio (0.09) suggests affordability pressure is limited, which can aid retention and occupancy stability. Home values are lower than national norms, so ownership is comparatively accessible; this can temper rent growth expectations and underscores the importance of maintaining a quality, convenience-forward offering.
School ratings trail national norms (national percentile 37), which may slightly constrain deep family-driven demand, but the neighborhood’s amenity convenience and high occupancy indicate everyday practicality for renters. Overall, performance is above the metro median across several operating metrics and should support steady cash flow outlooks for well-managed assets.
Safety indicators are generally favorable compared with national benchmarks. Crime sits around the 69th percentile nationally (higher percentile indicates safer conditions), while metro positioning is near the midpoint (8 of 16 neighborhoods), suggesting conditions that are competitive for the region but not top-tier within the metro.
Trend-wise, both property and violent offense rates have declined year over year, with improvements scoring in the upper national percentiles (property offense change around the 81st percentile; violent offense change around the 78th percentile). For investors, the directional improvement supports leasing stability and reduces headline risk, though continued monitoring remains prudent.
Regional employment anchors help support renter demand via commutable access to energy and industrial corporate offices. The list below highlights nearby employers that can contribute to a stable tenant base and retention.
- Marathon Petroleum — energy (26.3 miles) — HQ
- Parker-Hannifin Corporation — diversified industrials (33.9 miles)
This 72-unit, 2000-vintage asset competes well against older neighborhood stock, supporting leasing versus pre-1980 alternatives while leaving room for targeted modernization as systems age. Neighborhood occupancy is strong and in the top quartile nationally, and a moderate renter concentration provides a steady tenant pool rather than cyclical surges. A low rent-to-income ratio indicates room for measured rent optimization without materially elevating retention risk, based on CRE market data from WDSuite.
Counterbalancing factors include relatively accessible ownership in the area and school ratings that trail national norms, which may cap premium positioning. Even so, amenity convenience (pharmacies, childcare, cafés) and improving safety trends help underpin day-to-day leasing and limit volatility for a well-managed property.
- Strong neighborhood occupancy supports stable cash flow and lease retention.
- 2000 vintage offers a competitive edge versus older stock with value-add via selective modernization.
- Moderate renter concentration and amenity convenience bolster demand durability.
- Improving crime trends reduce headline risk and support leasing stability.
- Risks: accessible ownership and below-average school ratings may temper rent growth and premium positioning.