| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 52nd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 Randy Dr, Mount Vernon, OH, 43050, US |
| Region / Metro | Mount Vernon |
| Year of Construction | 2004 |
| Units | 110 |
| Transaction Date | 2006-01-01 |
| Transaction Price | $7,370,000 |
| Buyer | --- |
| Seller | COSHOCTON GILCHRIST LLC |
801 Randy Dr Mount Vernon Multifamily Investment
Neighborhood occupancy trends are above the national median, supporting lease stability according to WDSuite’s CRE market data, with a renter-occupied share that indicates depth in the local tenant base.
Location and renter demand
Positioned in Mount Vernon’s Inner Suburb, the subject benefits from a neighborhood rated A+ and ranked 1 out of 26 metro neighborhoods, signaling strong local fundamentals. Occupancy for the neighborhood sits above the national median (70th percentile), a constructive backdrop for maintaining stabilized cash flow and limiting downtime between turns.
Amenity access is competitive among Mount Vernon neighborhoods, with grocery, restaurants, cafés, childcare, and pharmacies ranking near the top locally and generally above national medians. While park space is limited in the immediate area, daily-needs retail and services help support renter retention and day-to-day convenience.
At the neighborhood level, rents are comparatively accessible versus many U.S. areas (around the national mid-range), which can widen the renter pool but may temper near-term pricing power. Home values are also on the lower side nationally, which can introduce some competition from entry-level ownership; investors should calibrate renewal strategies accordingly to sustain occupancy. The share of housing units that are renter-occupied is elevated relative to most neighborhoods nationwide, reinforcing depth of demand for multifamily units.
Demographic statistics aggregated within a 3-mile radius indicate recent population and household growth, with forecasts pointing to additional household expansion and smaller average household sizes by 2028. A larger household count with smaller household sizes typically supports a broader tenant base and more consistent absorption of multifamily inventory.
Property positioning
Built in 2004, the asset is newer than the neighborhood’s average vintage (1990s), which generally improves competitive positioning versus older stock. Investors should still plan for selective modernization and systems upkeep appropriate for a 2000s-era property to protect rents and reduce maintenance variability over the hold.
Safety context
Neighborhood safety signals are mixed. Overall crime ranks near the middle of Mount Vernon (14 out of 26 neighborhoods), indicating conditions broadly around regional norms rather than a clear outlier on either end. Nationally, the neighborhood sits below the midpoint for overall safety, so prudent operational practices (lighting, access control, coordination with local authorities) remain important for tenant experience.
Violent-offense indicators compare favorably nationally (upper-tier percentile), while property-offense levels are closer to the national middle with a recent uptick. For investors, this suggests focusing on property-level measures that deter opportunistic incidents and maintaining consistent resident communication to support retention and reputation.
Regional employment is anchored by corporate offices and distribution nodes within commuting range, supporting workforce housing demand and lease stability for residents employed at L Brands, Wesco Distribution, Dr Pepper Snapple Group, International Paper Company, and the Autozone Distribution Center.
- L Brands — retail HQ (33.9 miles) — HQ
- Wesco Distribution — industrial distribution (36.8 miles)
- Dr Pepper Snapple Group — beverage operations (37.7 miles)
- International Paper Company — paper & packaging (39.1 miles)
- Autozone Distribution Center — auto parts distribution (40.5 miles)
This 110-unit, 2004-vintage community aligns with Mount Vernon’s strongest neighborhood fundamentals, where occupancy runs above the national median and amenity access is among the most competitive locally. According to commercial real estate analysis from WDSuite, the elevated share of renter-occupied housing units and steady household growth point to a durable tenant base, while the asset’s newer vintage provides a competitive edge over older stock in the submarket.
Rents in the neighborhood trend near the national mid-range and home values are relatively accessible, which can broaden demand but may limit outsized pricing power and introduce some competition from ownership alternatives. School ratings track below national medians and recent property-crime trends have ticked up, suggesting the need for disciplined operations, resident engagement, and targeted capital to sustain leasing velocity and renewal rates.
- Stabilized demand: neighborhood occupancy above national median supports cash flow consistency.
- Renter depth: higher renter-occupied share indicates a larger tenant base for multifamily.
- Competitive positioning: 2004 vintage versus largely 1990s neighborhood stock.
- Amenity convenience: strong access to daily-needs retail supports retention.
- Risks: below-median school ratings, recent property-crime uptick, and potential competition from ownership options may temper pricing power.