| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 52nd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 55 Sychar Rd, Mount Vernon, OH, 43050, US |
| Region / Metro | Mount Vernon |
| Year of Construction | 1988 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
55 Sychar Rd Mount Vernon Multifamily Investment
Neighborhood occupancy is competitive among Mount Vernon neighborhoods and sits in the top quartile nationally, according to WDSuite’s CRE market data, supporting stable renter demand near core amenities. These metrics reflect the surrounding neighborhood, not the property, and point to durable cash flow potential for well-managed assets.
Mount Vernon’s inner-suburb setting offers daily-life convenience that supports renter retention. Amenity access is a relative strength: cafes and childcare density both rank 1st out of 26 metro neighborhoods and score in the upper national percentiles, while grocery and restaurant density rank 2nd of 26—useful for workforce renters and day-to-day needs.
From a fundamentals standpoint, the neighborhood’s apartment occupancy is above the metro median and around the 70th percentile nationally. The share of renter-occupied housing is close to half, signaling a sufficiently deep tenant base for a 39-unit asset. These are neighborhood-level indicators, based on CRE market data from WDSuite, not property performance.
Within a 3-mile radius, population and households have increased in recent years, with projections for further household growth alongside slightly smaller average household sizes. This typically expands the renter pool and supports occupancy stability and steady leasing velocity for well-positioned multifamily assets.
Ownership context: home values in the neighborhood benchmark higher relative to local incomes than many U.S. areas (above the national median on value-to-income), which can sustain reliance on rental housing and support pricing power. Meanwhile, a neighborhood-level rent-to-income ratio near typical levels points to manageable affordability pressure that can aid retention.
Balanced view: average school ratings sit below national medians, and park access ranks last among 26 metro neighborhoods. These factors may modestly influence family-driven demand, increasing the importance of on-site amenities and unit finishes to compete.
Safety indicators show a mixed but workable profile. Violent offense exposure benchmarks in the top quintile nationally and ranks above the metro median (12th of 26), while property offense exposure is closer to national mid-percentiles with a recent year-over-year uptick. These are neighborhood-level trends rather than block-level conditions and should be weighed alongside on-site security measures and resident profile.
For underwriting, frame the area as competitive among Mount Vernon neighborhoods but not top-tier on all measures. Monitoring property offense trends and aligning lighting, access control, and resident engagement can help sustain leasing performance comparable to peer submarkets.
Regional employment access is anchored by Columbus-area corporate hubs to the south, which can support workforce renter demand and retention for residents commuting to the following employers.
- L Brands — retail headquarters (32.8 miles) — HQ
- Wesco Distribution — industrial distribution (35.7 miles)
- Dr Pepper Snapple Group — beverages (36.7 miles)
- Fuse by Cardinal Health — healthcare technology (39.4 miles)
- Cardinal Health — healthcare services (39.8 miles) — HQ
The property’s 1988 vintage is modestly older than the neighborhood average construction year, creating potential value-add and capital planning opportunities to sharpen competitiveness versus newer stock. Leasing fundamentals around the asset are constructive: the neighborhood’s occupancy ranks above the metro median and in the top quartile nationally, and a renter-occupied share near half indicates a durable tenant base. Within a 3-mile radius, recent population and household growth—along with projections for additional household expansion and slightly smaller household sizes—suggest a gradually widening renter pool that can support steady absorption and retention, according to CRE market data from WDSuite.
From a pricing-power lens, neighborhood home values benchmark higher relative to incomes than many U.S. areas, which often sustains reliance on multifamily housing, while rent-to-income levels near typical ranges support lease retention and collection consistency. Execution focus should include targeted renovations, energy and systems upgrades typical for a late-1980s asset, and amenity programming that offsets below-median school ratings and limited park access.
- Competitive neighborhood occupancy and depth of renter base support leasing stability
- 1988 vintage offers clear value-add and CapEx planning pathways
- 3-mile household growth and smaller household sizes point to sustained renter demand
- Ownership costs vs. incomes reinforce reliance on rental housing and pricing power
- Risks: below-median school ratings, limited parks, and recent property offense variability