| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 52nd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 McGibney Rd, Mount Vernon, OH, 43050, US |
| Region / Metro | Mount Vernon |
| Year of Construction | 2008 |
| Units | 45 |
| Transaction Date | 2006-06-29 |
| Transaction Price | $1,024,275 |
| Buyer | KNO HO CO HILLSIDE APARTMENT ASSOC LTD |
| Seller | FIRST HILLSIDE APARTMENS LTD |
100 McGibney Rd Mount Vernon Multifamily Investment
Neighborhood occupancy is strong and trending upward, indicating steady renter demand for a 2008-vintage, 45-unit asset in Mount Vernon, according to WDSuite's CRE market data.
This Inner Suburb neighborhood ranks 1st among 26 Mount Vernon areas (A+ rating), signaling competitive fundamentals locally. Amenity access is a relative strength: grocery, restaurants, cafes, childcare, and pharmacies all benchmark above the metro median, with several categories in the top quartile nationally. That mix supports daily convenience and can aid leasing velocity and retention for workforce-oriented properties.
Occupancy across the neighborhood sits in a nationally above-average band, with recent years showing incremental improvement. Renter-occupied housing accounts for roughly half of local units, indicating a meaningful tenant base that can support stabilization for mid-sized assets. Median rents and rent-to-income levels point to manageable affordability pressure, which can help reduce turnover risk while allowing disciplined rent management rather than aggressive concessions.
The property's 2008 construction is newer than the neighborhood's typical vintage (mid-1990s), suggesting relative competitiveness versus older local stock. Investors can expect lower near-term capital planning for fundamental systems compared with pre-2000 assets, while still considering modernization or light value-add to meet current renter preferences.
Within a 3-mile radius, population and households have expanded over the last five years and are projected to continue rising, pointing to a larger tenant base over time. Income trends also skew upward in the outlook, which supports rent growth potential in line with local fundamentals. Framed by multifamily property research from WDSuite, these dynamics align with sustained demand and occupancy stability, though school ratings in the area skew modest and park access is limited, which may influence certain renter cohorts.
Safety indicators are mixed compared with national and metro benchmarks. Violent-offense metrics track in the top quartile nationally, while overall crime conditions align closer to the national middle, suggesting comparatively better readings on severe incidents than on property-related activity.
At the metro level, the neighborhood's crime positioning is around the middle of Mount Vernon's 26 neighborhoods. Recent year-over-year volatility in estimated property-offense rates merits monitoring; investors may wish to track near-term trend direction rather than anchor on a single-year change. Overall, the current profile points to typical suburban risk management considerations rather than outlier conditions.
Regional employers within a commutable radius help underpin renter demand, with proximity to retail distribution and healthcare-related corporate offices supporting workforce housing dynamics. The following organizations illustrate the employment base accessible from Mount Vernon:
- L Brands — retail headquarters (33.0 miles) — HQ
- Wesco Distribution — industrial distribution (35.9 miles)
- Dr Pepper Snapple Group — beverage distribution (36.9 miles)
- Fuse by Cardinal Health — healthcare technology (39.6 miles)
- Cardinal Health — healthcare services (39.9 miles) — HQ
Positioned in Mount Vernon's top-ranked neighborhood, the asset benefits from above-average occupancy and a solid renter base supported by everyday amenities. According to CRE market data from WDSuite, local occupancy trends have edged higher in recent years while rent-to-income levels indicate manageable affordability pressure—conditions that favor leasing stability and disciplined pricing power.
Built in 2008, the property is newer than much of the surrounding stock, which can reduce near-term capital needs and support competitive positioning versus older assets. Within a 3-mile radius, recent and expected growth in population and households suggest a gradually expanding renter pool, although modest school ratings and variability in property-offense indicators warrant prudent underwriting and ongoing monitoring.
- Above-average neighborhood occupancy supports stable cash flows and retention
- 2008 vintage offers relative competitive edge vs. older local stock
- Amenity access and growing 3-mile households reinforce renter demand
- Manageable rent-to-income levels enable pricing discipline over concessions
- Risks: modest school ratings, property-offense volatility, and potential shifts in tenure mix