| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 17th | Poor |
| Demographics | 36th | Fair |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 451 N Main St, Cadiz, OH, 43907, US |
| Region / Metro | Cadiz |
| Year of Construction | 2012 |
| Units | 59 |
| Transaction Date | 2008-06-20 |
| Transaction Price | $116,000 |
| Buyer | BINGHAM TERRACE PRESERVATION LP |
| Seller | BINGHAM TERRACE LP |
451 N Main St Cadiz, OH Multifamily Opportunity
Newer-vintage asset in a rural submarket where renter affordability looks manageable and retention prospects are supported, according to WDSuite’s CRE market data. Positioning and operations will matter given modest neighborhood scale and slower local demand drivers.
Cadiz is a rural neighborhood with a B+ rating that ranks 6th out of 16 Harrison County neighborhoods, making it competitive among Harrison County neighborhoods by WDSuite benchmarks. The local fabric skews low-density with limited cafes, restaurants, and parks, while basic services such as a grocery option and pharmacy are present. For investors, this translates to quieter, convenience-driven living versus lifestyle-driven amenity demand.
Construction in the neighborhood trends older on average, so a 2012-built property stands out competitively against legacy stock and can attract residents seeking more modern finishes and systems. That relative positioning can aid leasing and reduce near-term capital exposure compared with older nearby assets, though investors should still plan for periodic modernization and lifecycle maintenance.
Neighborhood occupancy trends below national norms, indicating leasing may require hands-on management and disciplined concessions strategy. The share of housing units that are renter-occupied in this area is relatively low, pointing to a thinner renter pool and the need for targeted marketing to sustain traffic. At the same time, low rent-to-income levels in the neighborhood suggest affordability pressure is limited, which can support lease retention and reduce turnover volatility.
Demographic indicators within a 3-mile radius show a small market that has softened over recent years, with population contraction and smaller household sizes. This implies measured household demand and places a premium on competitive pricing and property condition to support occupancy stability over time.
Safety indicators for the neighborhood are favorable in a regional and national context. The area ranks 4th of 16 Harrison County neighborhoods on crime, and national percentiles indicate comparatively strong safety, particularly for violent offenses. According to WDSuite’s benchmarks, recent year-over-year trends show improvement in violent offense rates, while property-related incidents remain relatively low versus national norms.
Investors should frame these metrics as neighborhood-level context rather than property-specific outcomes and continue to monitor trends as part of standard underwriting and resident-experience planning.
Regional employment exposure is oriented toward commutable hubs, with access to a major retail headquarters that can support a portion of the renter base through stable office and distribution roles.
- Dick's Sporting Goods — retail headquarters (41.4 miles) — HQ
The 2012 construction provides a competitive edge versus predominantly older neighborhood stock, offering operational efficiency and appeal to renters seeking more modern buildings. In a small, rural market where neighborhood occupancy trails national norms, performance will hinge on disciplined leasing and property condition. Low rent-to-income levels suggest room to sustain tenants without undue affordability pressure, while comparatively low ownership costs in the area may limit pricing power and create competition from entry-level homeownership.
According to CRE market data from WDSuite, the neighborhood’s amenity set is basic but functional, and safety benchmarks are comparatively strong. Given a thinner renter-occupied share and softening 3-mile demographic trends, the investment case centers on steady operations, prudent capital planning, and capturing demand from residents prioritizing value, convenience, and newer construction within driving distance of regional employment nodes.
- 2012 vintage stands out versus older local stock, supporting leasing and competitive positioning.
- Neighborhood safety benchmarks are strong relative to national measures, aiding resident retention.
- Low rent-to-income dynamics support retention and reduce volatility risk for the tenant base.
- Basic amenities (grocery, pharmacy) meet daily needs in a rural setting, with regional job access within commuting range.
- Risks: below-average neighborhood occupancy, thinner renter-occupied share, and competition from ownership options may cap rent growth.