| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 52nd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 McGibney Rd, Mount Vernon, OH, 43050, US |
| Region / Metro | Mount Vernon |
| Year of Construction | 1977 |
| Units | 47 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10 McGibney Rd Mount Vernon Multifamily Opportunity
Neighborhood occupancy is in the mid-90% range with a renter-occupied share around half of units, supporting steady leasing fundamentals according to WDSuite’s CRE market data. For investors, that combination points to resilient demand in Mount Vernon with room to manage retention and pricing through cycles.
Located in Mount Vernon’s inner-suburb fabric, the property sits in a neighborhood rated A+ and ranked 1st out of 26 metro neighborhoods, indicating strong local fundamentals relative to the metro. Amenity access is a local strength: cafes, childcare, groceries, pharmacies, and restaurants rank near the top of 26, while national amenity percentiles generally land above the median. Park access is limited, which modestly tempers the overall livability profile.
The building’s 1977 vintage is older than the neighborhood’s average construction year (1994 across 26 neighborhoods). That age profile suggests investors should plan for targeted capital improvements and potential value-add upgrades to keep the asset competitive against newer stock, while leveraging stable neighborhood demand conditions.
Renter concentration at the neighborhood level is high (ranked 2nd of 26 by renter-occupied share), signaling a deep tenant base for multifamily product and supporting occupancy stability. Neighborhood rents have risen over the past five years, while rent-to-income remains around one-fifth, which implies balanced affordability pressure that can sustain leasing with thoughtful renewal management.
Within a 3-mile radius, demographics show recent population growth and an increase in households, with forecasts pointing to further household gains even as household sizes trend smaller. For multifamily, this typically translates into a larger tenant base and ongoing demand for rental units, reinforcing occupancy durability at the neighborhood level.
Home values sit in a mid-range for the region, and the value-to-income profile indicates a high-cost ownership market relative to local incomes in parts of the area. That ownership landscape tends to reinforce renter reliance on multifamily housing, supporting lease-up velocity and pricing power when paired with careful income screening and renewal strategies. Average school ratings are below national medians (around 2 out of 5; rank 8 of 26), which is a consideration for family-oriented demand segments.
Neighborhood safety indicators present a mixed but generally serviceable picture for workforce-oriented multifamily. At the metro level, the neighborhood sits mid-pack (crime rank 14 out of 26), suggesting conditions comparable to many Mount Vernon neighborhoods. Nationally, violent offense levels benchmark in a higher safety percentile, while property offenses track closer to the national middle with a recent year-over-year uptick. Investors should underwrite standard security measures and monitor trends rather than assume block-level outcomes.
Regional employment anchors within commuting distance help support renter demand and retention, particularly among tenants tied to corporate services, distribution, and healthcare-related offices. Notable nearby employers include L Brands, Wesco Distribution, Dr Pepper Snapple Group, Fuse by Cardinal Health, and Cardinal Health.
- L Brands — corporate offices (32.9 miles) — HQ
- Wesco Distribution — distribution (35.9 miles)
- Dr Pepper Snapple Group — consumer beverages (36.8 miles)
- Fuse by Cardinal Health — healthcare technology offices (39.5 miles)
- Cardinal Health — healthcare services (39.8 miles) — HQ
10 McGibney Rd offers investors exposure to a top-ranked Mount Vernon neighborhood with mid-90% occupancy at the neighborhood level, a deep renter base, and daily-needs amenities that score near the top among 26 metro neighborhoods. The 1977 vintage is older than the local average, creating a clear path for targeted renovations and operational upgrades to enhance competitiveness versus newer stock while leveraging stable demand. According to CRE market data from WDSuite, neighborhood rent-to-income sits near one-fifth, which supports ongoing leasing while allowing for disciplined rent management.
Within a 3-mile radius, recent population growth and increasing households point to a larger tenant base ahead, even as household sizes edge smaller. Ownership remains comparatively costly for many households in the area, which tends to sustain multifamily demand and retention. Key risks include below-median school ratings, limited park access, and a recent uptick in property offenses—factors best addressed through targeted amenities, resident engagement, and standard security protocols.
- Top-ranked neighborhood within the Mount Vernon metro (1 of 26) supports durable demand
- Deep renter-occupied concentration provides a broad tenant base and occupancy stability
- 1977 vintage presents value-add potential through modernization and operational enhancements
- 3-mile radius shows population and household growth, expanding the renter pool
- Risks: below-median school ratings, limited parks, and recent property offense uptick