| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 40th | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1 Cross St, Utica, OH, 43080, US |
| Region / Metro | Utica |
| Year of Construction | 1996 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1 Cross St, Utica OH Multifamily Investment
Steady renter demand and improving neighborhood occupancy provide a pragmatic basis for underwriting, according to WDSuite’s CRE market data. Focus is on durable cash flow rather than outsized rent growth in this suburban Columbus submarket.
Utica sits on the outer edge of the Columbus, OH metro and functions as a suburban node with modest retail and service coverage. Neighborhood amenities index in the lower half of Columbus neighborhoods (580 total), with limited cafes and parks but basic grocery access. For investors, this points to a resident base that values quiet, essential services and drive-to retail rather than destination amenities.
The neighborhood’s housing stock skews older on average (many properties pre-1950), while this asset was built in 1996. Newer vintage relative to the area can support competitive positioning versus aging supply, while still warranting targeted capital for systems refresh and contemporary finishes to sustain leasing velocity.
Occupancy at the neighborhood level has trended up in recent years and sits near the middle of national performance, supporting stable operations rather than volatility. The share of housing units that are renter-occupied is about 38% and ranks in a stronger tranche nationally, indicating a meaningful tenant base for multifamily product and potential depth during leasing and renewals.
Within a 3-mile radius, demographics show recent population growth with an increase in families and higher median incomes over the last five years. Forward-looking estimates anticipate additional population gains and a rise in households, which typically expands the renter pool and supports occupancy stability. Home values in this area remain comparatively accessible for the region, so rental demand is reinforced more by value and convenience than by ownership cost pressure; however, the neighborhood’s low rent-to-income profile suggests room for retention-focused pricing strategies without outsized affordability pressure.
Schools average in the middle of national performance, which is consistent with the suburban profile and supports family-oriented renter demand, though not a distinct premium driver. Overall, relative to Columbus neighborhoods (580 total), the area is competitive for workforce housing and offers predictable fundamentals for investors prioritizing durable tenancy over amenity-driven premiums.
Safety indicators compare favorably to national benchmarks, with both property and violent offense rates landing above the national median for safer neighborhoods. Recent year-over-year declines in estimated offense rates suggest incremental improvement rather than a sharp shift. This positioning is consistent with suburban Columbus patterns and generally supports tenant retention and leasing stability without requiring a safety premium in underwriting.
As always, conditions can vary by block and over time; investors should pair these neighborhood-level signals with property-specific measures (lighting, access control, and resident engagement) to maintain performance.
Regional employment access is anchored by large corporate offices within commuting range of Utica, supporting workforce housing demand and lease retention for residents commuting to these hubs. Notable employers include L Brands, Wesco Distribution, Dr Pepper Snapple Group, Nationwide, and American Electric Power.
- L Brands — corporate offices (26.9 miles) — HQ
- Wesco Distribution — distribution (29.4 miles)
- Dr Pepper Snapple Group — beverages (29.9 miles)
- Nationwide — insurance & financial services (34.8 miles) — HQ
- American Electric Power — utilities (35.0 miles) — HQ
This 40-unit property, built in 1996, benefits from a newer vintage relative to an older neighborhood housing base, offering competitive positioning with potential to capture steady demand from renter households. Neighborhood occupancy has improved in recent periods and, according to CRE market data from WDSuite, sits around mid-pack nationally—leveraging stability rather than speculative upside. The share of renter-occupied units in the area is meaningful, providing depth to the local tenant base and supporting sustained leasing.
Within a 3-mile radius, recent population growth and rising incomes, alongside projections for additional household increases, point to continued renter pool expansion. Ownership remains comparatively accessible in the area, which may temper peak rent growth, but a low rent-to-income profile supports retention-focused pricing and manageable turnover risk. Targeted value-add—particularly systems updates and interior upgrades—can enhance competitiveness against older stock while maintaining affordability relative to urban Columbus alternatives.
- 1996 vintage outcompetes older neighborhood stock; targeted refreshes can drive leasing strength.
- Neighborhood occupancy trending upward supports cash flow stability versus volatility.
- Renter-occupied share provides a solid tenant base for multifamily absorption and renewals.
- 3-mile demographics show population growth and higher incomes, supporting demand durability.
- Risk: accessible home ownership and limited local amenities may cap premium rent growth; focus on retention and value positioning.