| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 40th | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 784 Blacksnake Rd, Utica, OH, 43080, US |
| Region / Metro | Utica |
| Year of Construction | 1975 |
| Units | 24 |
| Transaction Date | 2010-02-19 |
| Transaction Price | $100,000 |
| Buyer | MADAMA APT LLC |
| Seller | GREENTREE APARTMENTS LIMITED PARTNERSHIP |
784 Blacksnake Rd, Utica OH: 24-Unit Multifamily
Steady neighborhood occupancy near the upper-80s and renter affordability (low rent-to-income ratios) point to durable leasing fundamentals, according to WDSuite’s CRE market data. This suburban location serves workforce demand from the Columbus corridor while offering operational predictability.
Utica sits on the northeastern edge of the Columbus, OH metro with a suburban profile and car-dependent daily living. Local retail and dining density is modest and parks are limited, reflecting amenity measures that sit below national medians; schools trend roughly around the national midpoint by average rating. For residents, that mix supports quieter living while concentrating daily needs along key corridors.
From an investor lens, the neighborhood occupancy rate is about 89% with a multiyear uptick, signaling stable utilization of existing housing. The share of units that are renter-occupied is competitive among Columbus neighborhoods and above national norms, indicating a meaningful tenant base for a 24-unit asset without overreliance on a thin pool.
Within a 3-mile radius, demographics point to population growth over the last five years with a larger household income profile and a projected increase in households by the mid‑term forecast window. That pattern suggests a gradually expanding renter pool and supports occupancy stability for well-managed properties. Median contract rents in the neighborhood remain comparatively low versus incomes, which can aid retention and reduce turnover risk, while still allowing room for measured rent optimization.
Home values in the area sit in a lower-priced ownership context by national comparison. That can introduce some competition from entry-level ownership, but for professionally managed multifamily, it also anchors steady demand from residents prioritizing flexibility, maintenance convenience, and proximity to regional employment. The property’s 1975 vintage is newer than the area’s older housing stock, which can be a competitive advantage versus pre‑war buildings, though investors should still plan for targeted system updates and common‑area modernization to sustain performance.
Safety indicators for the neighborhood are mixed but generally compare favorably at the national level. National percentiles place the area above the U.S. median for safety overall, with both violent and property offense measures trending in the better half of neighborhoods nationwide. Recent year-over-year declines in both categories point to gradual improvement rather than acute risk spikes.
Against the Columbus metro peer set (580 neighborhoods), relative ranks suggest some subareas of the metro outperform this neighborhood, underscoring the importance of standard property-level practices: lighting, access control, and tenant screening. For investors, the takeaway is a location that is competitive nationally with improving trends, even if not top-tier within the metro.
Regional employment anchors within commuting range include corporate offices and distribution operations that help support renter demand and retention for workforce housing. Notable nearby employers include L Brands, Wesco Distribution, Dr Pepper Snapple Group, AutoZone Distribution, and Nationwide.
- L Brands — corporate offices (27.4 miles) — HQ
- Wesco Distribution — distribution (29.9 miles)
- Dr Pepper Snapple Group — beverages corporate offices (30.4 miles)
- Autozone Distribution Center — distribution (32.7 miles)
- Nationwide — insurance (35.3 miles) — HQ
784 Blacksnake Rd offers a 24‑unit scale in a suburban Columbus, OH metro setting where neighborhood occupancy is near 89% and renter affordability is favorable. Renter-occupied share is competitive within the metro, supporting a reliable tenant base for a small‑to‑mid scale asset. The 1975 construction is newer than much of the area’s older housing stock, providing relative positioning against pre‑war product while still warranting selective upgrades to systems and finishes.
According to CRE market data from WDSuite, local rents remain modest relative to household incomes, supporting retention and measured rent growth without overextending affordability. Within a 3‑mile radius, population has grown and households are projected to increase, which points to a gradually expanding renter pool and supports occupancy stability. Limited nearby amenities and varying safety performance inside the metro suggest underwriting should incorporate conservative lease‑up timelines and continued investment in property-level security and maintenance.
- Stable neighborhood occupancy and renter affordability support steady cash flows
- Competitive renter-occupied share provides depth to the tenant base
- 1975 vintage offers positioning versus older stock with targeted value-add potential
- 3-mile population and household growth underpin future leasing demand
- Risks: thinner amenity density, metro-relative safety variability, and potential competition from entry-level ownership