| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 18th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1505 Lawrence St, Ironton, OH, 45638, US |
| Region / Metro | Ironton |
| Year of Construction | 2001 |
| Units | 53 |
| Transaction Date | 1999-12-19 |
| Transaction Price | $75,000 |
| Buyer | IRONTON AND LAWRENCE COUNTY AREA COMMUNI |
| Seller | STORMS CREEK APARTMENTS |
1505 Lawrence St Ironton Multifamily Investment, 53 Units
Neighborhood occupancy trends are steady and the renter base is moderate, according to WDSuite’s CRE market data, supporting a pragmatic, income-focused hold in a car-dependent pocket of the Huntington–Ashland metro.
The property sits in a rural segment of Ironton within the Huntington–Ashland, WV–KY–OH metro, where neighborhood occupancy is competitive among metro subareas and roughly around the national median. Limited walkable retail and services nearby suggest most daily needs require a drive, which is typical for lower-density locations and should be underwritten with realistic assumptions on tenant mobility and parking demand.
Local housing stock in the neighborhood skews older (average vintage 1970 across 180 metro neighborhoods), while this asset’s 2001 construction is newer than the area norm. That positioning can help competitiveness versus legacy properties, though investors should still account for age-related system updates and selective renovations over the hold.
Renter-occupied share in the neighborhood sits above the national median and is competitive among Huntington–Ashland neighborhoods, indicating a workable tenant base for workforce housing. Median asking rents in the area trend on the lower end nationally, which supports retention and occupancy stability but may limit near-term pricing power; frame revenue growth expectations accordingly and focus on operational execution over outsized rent lifts as part of disciplined commercial real estate analysis.
Within a 3-mile radius, recent years show modest population softening but an outlook for slight population growth and a notable increase in household count alongside smaller average household sizes. For multifamily, that combination points to a larger renter pool over time and supports stable leasing, even if per-household incomes remain mixed.
Ownership costs in the neighborhood are relatively accessible by national standards. While that can introduce competition from entry-level ownership, it also reinforces the value proposition of well-managed rentals that emphasize predictability, convenience, and lower upfront costs—factors that can aid lease retention in this submarket.
Safety indicators present a mixed picture. Within the Huntington–Ashland metro (180 neighborhoods), this area ranks among the more challenged cohorts by rank; however, national percentiles place it in the safer half of neighborhoods across the U.S., indicating comparatively better standing at the national level than within the local metro context.
Year over year, WDSuite data shows meaningful declines in property offenses and a modest improvement in violent offense trends. Investors should monitor whether these improvements persist, but the recent directionality is favorable for resident satisfaction and retention.
Proximity to established employers provides steady, commute-friendly demand for workforce housing, with industrial and consumer goods operations anchoring the regional employment base.
- Ak Steel — steel manufacturing (3.5 miles)
- General Mills — consumer packaged goods (38.7 miles)
1505 Lawrence St offers 53 units built in 2001, positioning it newer than much of the surrounding housing stock. Neighborhood occupancy is competitive within the Huntington–Ashland metro and roughly near national norms, while lower rent levels support retention and steady absorption. Based on CRE market data from WDSuite, the renter-occupied share is above the national median for this neighborhood, suggesting durable tenant depth even as local incomes trend below national averages.
Within a 3-mile radius, projections point to slight population growth and a more pronounced increase in households as average household size declines—an underappreciated driver of renter pool expansion. Amenity density is limited and car dependence is high, so performance hinges on pragmatic operations, value-focused finishes, and maintaining cost-effective housing relative to accessible ownership options.
- 2001 vintage is newer than neighborhood average, supporting competitive positioning with targeted capex
- Neighborhood occupancy competitive within the metro; lower rent levels aid retention and leasing stability
- 3-mile outlook shows more households and smaller sizes, expanding the tenant base over time
- Risks: limited nearby amenities, income constraints, and potential competition from accessible ownership