| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 56th | Best |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 411 Chase Ave, Gambier, OH, 43022, US |
| Region / Metro | Gambier |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
411 Chase Ave, Gambier OH Multifamily Investment
Stabilized renter demand is supported by a college-oriented rural setting and household incomes that outpace many peer areas, according to WDSuite’s CRE market data.
Gambier sits within the Mount Vernon, OH metro and carries a B+ neighborhood rating (10th among 26 metro neighborhoods), signaling competitive livability for a small rural cluster. Amenities are sparse (limited cafes, groceries, parks), so residents rely on nearby towns for shopping and services, which keeps the immediate area quiet but still functional for workforce housing. Average schools score strongly — top-ranked in the metro (1st of 26) and top quartile nationally — a supportive backdrop for long-term family-oriented tenancy.
Neighborhood occupancy is around the metro median, indicating leasing conditions that are neither overheated nor distressed. The share of renter-occupied housing units is lower at the neighborhood level, but the 3-mile radius shows a larger renter base; for investors this implies thinner walkable demand right around the asset but broader capture potential from surrounding households. Contract rents in the area are modest relative to incomes, which can support retention while leaving room for measured rent growth.
Within a 3-mile radius, demographic statistics point to recent population softness but a projected increase in households alongside smaller household sizes over the next five years. A rising household count with fewer persons per household typically expands the tenant base for smaller units and supports occupancy stability. Median home values sit in the mid-range for the region; combined with a favorable rent-to-income profile, this high-cost ownership context for some households tends to sustain reliance on rental options — an investor-positive signal for lease-up and renewals grounded in commercial real estate analysis.
Vintage context: the property was built in 1986, a bit older than the neighborhood’s average construction year. Investors should underwrite routine capital planning and consider targeted renovations to enhance competitiveness versus slightly newer stock while capturing value-add upside.
Safety indicators for the neighborhood track close to the metro midpoint (12th of 26 by crime rank), and national comparisons land near the middle of the pack. Recent year-over-year shifts in reported offense rates warrant routine monitoring, but the overall signal suggests conditions comparable to many rural-suburban areas. Investors should incorporate standard security, lighting, and access controls appropriate for garden-style assets, with periodic reviews of trend data rather than block-level assumptions.
Regional employment anchors within commuting range include headquarters and major offices in retail, healthcare, utilities, and distribution — relevant for workforce housing demand and lease retention. The list below highlights notable employers accessible from Gambier.
- L Brands — retail (34.7 miles) — HQ
- Wesco Distribution — distribution (37.5 miles)
- Autozone Distribution Center — automotive distribution (38.3 miles)
- Dr Pepper Snapple Group — beverages (38.3 miles)
- International Paper Company — paper & packaging (38.5 miles)
This 24-unit, 1986-vintage asset in Gambier benefits from a steady renter base supported by strong local school ratings and household incomes that compare favorably within the metro. Neighborhood occupancy trends sit near the metro median, and rents remain manageable relative to incomes, which supports retention and measured rent growth, according to CRE market data from WDSuite.
Within a 3-mile radius, demographics show a projected increase in households and smaller household sizes over the next five years — dynamics that typically expand the tenant pool for smaller formats and support occupancy stability. The property’s slightly older vintage versus neighborhood norms points to targeted value-add potential (interiors, systems, curb appeal) to maintain competitiveness while preserving affordability-driven demand.
- Near-metro-median occupancy with rents positioned for retention and disciplined growth
- Household growth and smaller household sizes (3-mile radius) support a larger tenant base
- 1986 vintage offers clear value-add levers to enhance competitiveness versus newer stock
- Risk: rural amenity depth is limited; underwriting should account for broader drive-to demand and standard CapEx reserves