| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 52nd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11701 Upper Gilchrist Rd, Mount Vernon, OH, 43050, US |
| Region / Metro | Mount Vernon |
| Year of Construction | 2010 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11701 Upper Gilchrist Rd Mount Vernon Multifamily Investment
Neighborhood occupancy remains competitive and renter demand is supported by a sizable renter-occupied share, according to CRE market data from WDSuite. This positioning suggests stable leasing conditions relative to the metro, with scope to manage pricing and retention over time.
This inner-suburb location in Mount Vernon balances convenience and everyday needs with measured growth dynamics. Neighborhood occupancy is competitive among Mount Vernon neighborhoods (ranked 10 out of 26) and sits above the national midpoint (around the 70th percentile), indicating a supportive backdrop for maintaining tenancy at the submarket level rather than at the property level. The neighborhood’s renter-occupied share is elevated at the area level (48.2%; ranked 2 out of 26 and in the upper quartile nationally), signaling a deep tenant base for multifamily operators.
Livability is underpinned by access to restaurants, groceries, and childcare options that score above national norms for density, though park access is limited within the neighborhood. Average school ratings trend below national medians, which may temper family-driven demand but can position the area for workforce housing appeal. The property’s 2010 vintage is newer than the neighborhood average year built (1994), offering relative competitiveness versus older stock while leaving room for selective modernization and systems updates as part of a value-preservation or light value-add plan.
Within a 3-mile radius, population and household counts have grown in recent years, and forecasts point to further population growth and a sizable increase in households by 2028. Smaller projected household sizes suggest more one- and two-person households, which can expand the renter pool and support occupancy stability. Median contract rents in the area have risen over time, yet rent-to-income ratios near 0.19 indicate manageable affordability pressure from an operator’s perspective, supporting lease retention and measured rent growth strategies.
Home values in the neighborhood sit around the national middle while the value-to-income relationship trends above national medians, creating a high-cost ownership context relative to local incomes that can reinforce renter reliance on multifamily housing. Operators should still watch for competition from ownership alternatives if mortgage costs ease, but today’s ownership landscape generally supports sustained rental demand and steady leasing.
Neighborhood safety indicators present a mixed but manageable picture. Overall crime performance trends around the middle of the pack within the Mount Vernon metro (crime rank 14 out of 26 neighborhoods), while national comparisons place the neighborhood near the middle overall. Violent-offense metrics track favorable versus many U.S. neighborhoods (upper percentiles nationally), which can support renter confidence and retention.
Property-related incidents have shown a notable recent increase at the neighborhood level, even as the current property-offense rate aligns closer to national midpoints. Investors should monitor local trends and coordinate with management on lighting, access control, and community engagement to maintain leasing stability. These insights reflect neighborhood conditions rather than property-specific security.
Regional employment access is driven by major Columbus-area corporate offices, supporting commuter convenience and a diversified demand base. Key nearby employers include L Brands, Wesco Distribution, Dr Pepper Snapple Group, International Paper, and the Autozone Distribution Center.
- L Brands — corporate offices (34.3 miles) — HQ
- Wesco Distribution — corporate offices (37.2 miles)
- Dr Pepper Snapple Group — corporate offices (38.1 miles)
- International Paper Company — corporate offices (38.7 miles)
- Autozone Distribution Center — corporate offices (40.8 miles)
The investment case centers on durable renter demand, competitive neighborhood occupancy, and a 2010-vintage asset that out-positions older local stock. Based on CRE market data from WDSuite, the neighborhood’s renter-occupied share ranks among the strongest in the metro, reinforcing depth of the tenant base. Amenity access for daily needs is solid, while limited park availability and below-average school ratings shape the likely renter profile toward workforce and convenience-oriented households.
Forward-looking neighborhood and 3-mile trends point to population growth, a larger number of households, and smaller household sizes—conditions that can widen the renter pool and support steady leasing. Operators can pair light modernization with disciplined rent management, given area rent growth and rent-to-income levels that support retention. Monitoring safety trends and potential shifts toward ownership will be important for risk management and pricing discipline.
- Competitive neighborhood occupancy and strong renter-occupied share support demand depth
- 2010 vintage offers relative advantage over older local stock with light value-add potential
- 3-mile growth and smaller household sizes expand the renter pool and support leasing stability
- Daily-needs amenities are accessible; schools and limited parks may concentrate demand among workforce renters
- Risks: monitor recent property-incident trends and potential ownership competition as mortgage costs evolve