| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 54th | Good |
| Amenities | 31st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4 Posey Dr, Fredericktown, OH, 43019, US |
| Region / Metro | Fredericktown |
| Year of Construction | 1974 |
| Units | 32 |
| Transaction Date | 2011-10-21 |
| Transaction Price | $336,375 |
| Buyer | ELLIOTT PAULA S |
| Seller | FREDERICKTOWN LTD |
4 Posey Dr Fredericktown 32-Unit Multifamily Opportunity
Renter demand is supported by competitive neighborhood occupancy and manageable rent-to-income levels, according to WDSuite’s CRE market data. This positions the asset for stable operations while leaving room for value-add upgrades based on disciplined commercial real estate analysis.
The property sits in a rural pocket of the Mount Vernon, OH metro with an A- neighborhood rating (ranked 6 out of 26 metro neighborhoods), signaling competitive fundamentals among Mount Vernon neighborhoods. Neighborhood occupancy is strong and has trended up in recent years, supporting day-to-day leasing stability and lower downtime risk.
Livability is practical rather than amenity-dense: grocery and pharmacy access are present but cafes, restaurants, and parks are limited relative to urban cores. Average school ratings test well (top quartile nationally), which can aid retention for family renters and longer tenancy horizons.
Tenure data indicates a smaller renter-occupied share in the immediate area (roughly one-fifth of units), implying a thinner but steady multifamily renter pool. Rent levels sit at the lower end of the metro, and a low rent-to-income ratio suggests reduced affordability pressure—supportive for renewal rates, though it may moderate near-term pricing power.
The asset’s 1974 vintage is newer than much of the surrounding housing stock (average build year in the neighborhood skews older), which enhances competitive positioning versus legacy properties. Investors should still plan for targeted system updates and interior refreshes to capture value-add upside and support rent premiums.
Demographic statistics are aggregated within a 3-mile radius: the past five years show softer population and household counts alongside shrinking household sizes, but forward-looking projections indicate potential population and household growth, which would expand the renter pool and support occupancy stability if realized.
Safety indicators compare favorably at the national level. Violent offense measures track in the top quartile nationwide, and property offense rates have improved markedly year over year (also top quartile for improvement nationally), according to WDSuite’s CRE market data. These trends can reinforce resident retention and reduce operational volatility.
At the metro scale, conditions are competitive among Mount Vernon neighborhoods rather than outlier-low risk. Investors should underwrite to local management practices and lighting/security upgrades typical for similar assets, while recognizing that recent momentum has been positive.
Fredericktown benefits from the broader Columbus commute-shed, with proximity to several regional headquarters and corporate offices that support renter demand and lease stability for workforce housing. Key nearby employers include L Brands, Wesco Distribution, Dr Pepper Snapple Group, International Paper, and Cardinal Health.
- L Brands — retail HQ (34.7 miles) — HQ
- Wesco Distribution — industrial distribution (37.7 miles)
- Dr Pepper Snapple Group — beverage offices (38.9 miles)
- International Paper Company — paper & packaging offices (39.6 miles)
- Cardinal Health — healthcare services (39.8 miles) — HQ
This 32-unit property at 4 Posey Dr offers durable operations supported by competitive neighborhood occupancy and manageable rent-to-income dynamics. Built in 1974, the asset is newer than much of the local housing stock, creating a value-add pathway via targeted interior renovations and system updates to strengthen positioning against older comparables. According to CRE market data from WDSuite, neighborhood occupancy sits among the stronger cohorts in the Mount Vernon metro, reinforcing day-to-day leasing stability.
Demographic statistics within a 3-mile radius show recent softness in population and household counts but forecast an expansion in both, which would enlarge the tenant base and support steady absorption. Ownership remains relatively accessible in this market, which can temper pricing power; however, low renter cost burdens favor renewal capture and retention, providing a solid foundation for a measured upgrade strategy.
- Competitive neighborhood occupancy supports stable collections and lower downtime
- 1974 vintage offers clear value-add potential through targeted renovations
- Low rent-to-income levels aid renewal capture and resident retention
- Projected growth (3-mile radius) points to a larger renter pool over time
- Risks: smaller renter-occupied share and accessible ownership may limit near-term pricing power