| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 43rd | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1035 County Road 1, South Point, OH, 45680, US |
| Region / Metro | South Point |
| Year of Construction | 1981 |
| Units | 60 |
| Transaction Date | 2016-10-26 |
| Transaction Price | $665,125 |
| Buyer | LAWRENCE MANOR APARTMENTS LLC |
| Seller | LAWRENCE MANOR LTD |
1035 County Road 1, South Point OH — Multifamily Value-Add Potential
Neighborhood rents remain modest relative to incomes, supporting retention with measured pricing power based on CRE market data from WDSuite. Focus is on durable, workforce demand rather than outsized rent growth.
Located in a rural pocket of the Huntington–Ashland metro, the area surrounding 1035 County Road 1 ranks in the top quartile among 180 metro neighborhoods, according to WDSuite’s CRE market data. Occupancy in the neighborhood trends below the national median, so operators should prioritize lease management and renewals to sustain stability.
Livability is serviceable for a workforce tenant base: pharmacies and parks benchmark above national medians, while grocery and restaurants track closer to the middle; cafes are sparse. School ratings trend slightly below national averages, which can influence family-driven demand but is less determinative for smaller-unit assets.
Vintage is 1981, a bit newer than the neighborhood’s typical housing stock from the late 1970s. That positioning can be competitive against older inventory, though systems may still warrant targeted capital planning and light renovations to capture value-add upside.
Tenure dynamics point to a measured renter base: neighborhood renter-occupied share is lower than many urban submarkets, but within a 3-mile radius the renter share is higher and projections indicate more households and a rising renter mix over the next five years. Combined with modest rent levels, this suggests a steady tenant pipeline and potential for improved lease retention rather than aggressive rent lifts.
Ownership costs in the area are comparatively accessible (home values and value-to-income ratios trail national highs), which means rentals compete with entry-level ownership. For investors, this favors keeping units well-maintained and appropriately amenitized, using affordability to support occupancy while calibrating rent increases to preserve leasing velocity.
Safety indicators compare favorably at the national level. Property and violent offense measures place the neighborhood in the top quartile nationally, and recent year-over-year trends show meaningful declines in both categories, based on WDSuite’s CRE market data. This backdrop supports resident retention and reduces operational friction versus weaker submarkets.
As with any location, conditions can vary by block and over time. Investors should validate on-the-ground patterns during due diligence, but the broader neighborhood trend profile is supportive relative to many peer locations nationwide.
Proximity to industrial and consumer-goods employers supports blue-collar and operations-focused renter demand, with commutes that are manageable for shift workers. Notable nearby employers include AK Steel and General Mills.
- AK Steel — steel manufacturing (7.0 miles)
- General Mills — consumer packaged goods (44.0 miles)
A 60-unit asset from 1981 with compact floor plans presents a pragmatic value-add angle in a rural metro setting that ranks competitively among local neighborhoods. Rents benchmark below income levels and homeownership remains relatively accessible, so the thesis centers on steady occupancy, operational efficiency, and selective upgrades to enhance rent rolls rather than outsized rent growth. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends sit below national medians, underscoring the importance of renewal management and resident experience.
Within a 3-mile radius, recent population growth has been modest and projections indicate an increase in households alongside smaller average household sizes over the next five years. For multifamily, that points to a larger tenant base and supports occupancy stability, with value capture more likely from unit turns, modest renovations, and disciplined rent steps than from rapid market rent expansion.
- Workforce demand with modest rents supports retention and measured pricing power
- 1981 vintage offers targeted value-add through system updates and light renovations
- Competitive neighborhood standing in the metro with serviceable amenities
- Risk: neighborhood occupancy trends below national median require proactive lease management
- Risk: relatively accessible ownership means rentals must compete on condition and convenience