| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Best |
| Demographics | 51st | Good |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 784 County Road 411, Proctorville, OH, 45669, US |
| Region / Metro | Proctorville |
| Year of Construction | 1997 |
| Units | 35 |
| Transaction Date | 1994-11-14 |
| Transaction Price | $130,000 |
| Buyer | RIVERVIEW APARTMENTS LIMITEDPARTNERSHIP |
| Seller | --- |
784 County Road 411 Proctorville 35-Unit Multifamily
Neighborhood occupancy trends are solid and renter demand is supported by gradually expanding households within a 3-mile radius, according to WDSuite’s CRE market data. With a 1997 vintage and stable suburban fundamentals, the asset’s positioning favors steady operations with measured upside.
The property sits in a suburban pocket of Proctorville that is competitive among Huntington-Ashland neighborhoods (ranked 52 out of 180). Neighborhood occupancy is above the metro median (ranked 32 of 180) and stands above the national midpoint, supporting leasing stability. Within a 3-mile radius, households have inched higher over the past five years and are projected to grow further, which expands the local tenant base and supports occupancy over time.
The area’s livability profile is mixed. Everyday conveniences are present but limited: grocery access and childcare are competitive within the metro (ranks 42 and 21 out of 180, respectively), while cafes, restaurants, parks, and pharmacies are sparse. Average school ratings score modestly above the national midpoint and are strong relative to the metro (rank 31 of 180), which can aid family-oriented renter retention.
Multifamily demand is shaped by tenure patterns. The neighborhood shows a lower share of renter-occupied housing units, indicating a smaller immediate renter base. However, demographics aggregated within a 3-mile radius point to a larger pool of renters relative to the immediate neighborhood and a forecast increase in renter concentration, which supports depth of demand for professionally managed units and helps sustain occupancy stability.
Pricing signals are balanced. Neighborhood median contract rents have risen meaningfully over the past five years, while a rent-to-income ratio around the low teens suggests manageable affordability pressure that can support retention and disciplined rent management. Home values are lower than many national markets, which means ownership is relatively more accessible and could compete with rentals; still, steady population and household growth at the 3-mile level supports ongoing renter demand.
Vintage matters for positioning: built in 1997 versus a metro neighborhood average construction year around 1980, the asset should compare favorably to older local stock. Investors should still plan for typical system updates and selective renovations to maintain competitiveness and capture value-add upside where feasible.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically benchmark safety by comparing city and county trend data, visiting at different times of day, and aligning on on-site practices (lighting, access control) to support resident comfort and retention.
Commutable access to regional manufacturing and industrial employers helps support workforce housing demand and resident retention. The list below highlights a nearby corporate presence accessible by car.
- AK Steel — steel manufacturing offices (19.6 miles)
This 35-unit property combines a 1997 vintage with neighborhood occupancy trending above the metro median, pointing to steady leasing performance relative to older local stock. Household growth within a 3-mile radius expands the tenant base, while a moderate rent-to-income profile supports retention and measured pricing. Lower relative home values in the broader area may create some competition with ownership, but ongoing renter pool expansion and the asset’s more recent vintage help sustain competitiveness.
Based on commercial real estate analysis from WDSuite, neighborhood rents have advanced over the last five years and occupancy remains healthy versus metro peers, suggesting durable demand with operational upside through targeted renovations and amenity refreshes. Investors should underwrite for selective capital needs typical of late-1990s assets and account for limited nearby amenities when assessing rent growth and marketing strategy.
- 1997 construction compares well to older local stock, supporting leasing and value-add potential.
- Neighborhood occupancy above the metro median supports stability and cash flow consistency.
- 3-mile household and renter concentration growth expands the tenant base and supports absorption.
- Moderate rent-to-income dynamics aid retention and disciplined rent management.
- Risks: limited nearby amenities and relatively accessible ownership options may temper pricing power; plan for targeted CapEx and focused leasing.