| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 68th | Best |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 623 Lovers Ln, Steubenville, OH, 43953, US |
| Region / Metro | Steubenville |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | 2019-06-28 |
| Transaction Price | $400,000 |
| Buyer | 623 LOVERS LANE LLC |
| Seller | 8E8 KEYS PARTNERSHIP |
623 Lovers Ln, Steubenville OH Multifamily Investment
Neighborhood occupancy is holding in the high 90s, supporting stable cash flow potential, according to WDSuite’s CRE market data. Strong schools and everyday amenities signal steady renter demand at the neighborhood level, not the property itself.
This suburban neighborhood carries an A+ rating and is ranked 1 out of 60 metro neighborhoods, indicating a leading position locally. Amenity access is mixed: cafés and restaurants are competitive nationally (café density is in a high national percentile), while groceries are reasonably available. Parks and pharmacies are limited nearby, so residents may rely more on short drives for select services.
Schools are a standout. The average school rating is 5.0, ranked 1 out of 60 metro neighborhoods and in the top national percentile, a family-friendly signal that can reinforce demand and lease retention for multifamily assets.
Rents in the neighborhood sit below national norms, which can enhance price-to-demand alignment for workforce renters. Occupancy is in the top quartile nationally and has trended higher over the last five years, pointing to stable leasing conditions at the neighborhood level. The renter-occupied share is roughly one-third of housing units, indicating a meaningful tenant base without excessive concentration; investors should plan for steady demand alongside some competition from ownership options.
Demographic statistics are aggregated within a 3-mile radius. Recent years show a modest population dip but an increase in households ahead, with smaller average household sizes. Forward-looking projections indicate population growth and a notable rise in household counts, which would expand the renter pool and support occupancy stability for well-positioned assets.
Safety signals are comparatively constructive at the neighborhood level. Property-offense risk is favorable versus neighborhoods nationwide (high national percentile), and the most recent year shows an improvement with a decline in estimated property offenses. Violent-offense indicators sit above national average safety levels but have risen year over year, suggesting investors should underwrite prudent security measures and monitor trendlines.
Overall, conditions compare better than many U.S. neighborhoods on property crime and are modestly favorable on violent crime, but year-to-year shifts underscore the importance of ongoing risk management and resident experience practices.
The area draws from a diversified employment base within commuting distance, supporting renter demand through access to corporate offices in retail, distribution, manufacturing, and financial services. Notable nearby employers include Dick’s Sporting Goods, WESCO Distribution, WESCO International, PPG Industries, and PNC Financial Services Group.
- Dick's Sporting Goods — retail headquarters (23.6 miles) — HQ
- WESCO Distribution — electrical distribution (35.3 miles)
- WESCO International — electrical distribution corporate (35.3 miles) — HQ
- PPG Industries — chemicals & coatings corporate (35.5 miles) — HQ
- PNC Financial Services Group — banking & financial services (35.6 miles) — HQ
623 Lovers Ln is a 24-unit asset built in 1980, newer than the neighborhood’s average vintage. That relative age can offer competitive positioning versus older stock, while still leaving room for targeted modernization to drive rentability and operational efficiency. At the neighborhood level, occupancy is strong and trending upward, and schools rank at the top of the metro—factors that typically support stable tenant retention and consistent leasing. According to CRE market data from WDSuite, local rents sit below national norms, suggesting an attainable price point that can broaden the renter pool without relying on aggressive concessions.
Within a 3-mile radius, forecasts point to population growth and a sizable increase in households alongside smaller household sizes—signals that can expand the tenant base and support occupancy stability. Ownership costs are relatively accessible in this market, which may create some competition with for-sale housing; disciplined leasing and resident experience can mitigate retention risk while maintaining pricing power for well-located, well-managed assets.
- Neighborhood occupancy is in the top quartile nationally, supporting leasing stability.
- Top-ranked local schools and everyday amenities underpin durable renter demand.
- 1980 vintage offers relative competitiveness with value-add upside through selective upgrades.
- Risk: more accessible ownership options require attentive lease management and resident retention strategies.