| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 37th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 356 Kent Dr, Bellefontaine, OH, 43311, US |
| Region / Metro | Bellefontaine |
| Year of Construction | 1996 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
356 Kent Dr Bellefontaine Multifamily Investment, 35 Units
Neighborhood fundamentals point to steady renter demand with renter-occupied housing near half of local units and occupancy in the low-90s, according to WDSuite’s CRE market data. 1996 construction offers a newer profile versus nearby stock, supporting competitive positioning with room for targeted upgrades.
Situated in an inner-suburb setting of Bellefontaine, the property benefits from a neighborhood rated A and ranked 2 out of 23 metro neighborhoods. That places it competitive among Bellefontaine neighborhoods, with amenity access also ranking 2 of 23 and national amenity measures around the mid-50s percentile. Cafes, groceries, restaurants, and parks register above the metro median, supporting day-to-day livability and resident retention.
The asset’s 1996 vintage is newer than the neighborhood’s average year built (1989). For investors, that typically translates into a more competitive offering against older stock, while still planning for mid-cycle system updates or value-add common-area and interior improvements to meet today’s renter expectations.
At the neighborhood level (not the property), occupancy trends have held around the low-90s and have improved over the last five years, reinforcing baseline stability for leasing. The share of housing units that are renter-occupied is just under half and ranks 1st of 23 in the metro with a high national percentile, indicating a deep tenant base for small and mid-size multifamily assets.
Within a 3-mile radius, population and households have grown over the past five years, with households expanding faster than population. Forward-looking data indicates continued population growth and a material increase in households, pointing to a larger tenant base and support for occupancy stability. Smaller average household size over time suggests ongoing demand for multifamily units.
Local contract rents sit on the lower end for the region, while five-year rent growth has been positive. Combined with an average rent-to-income ratio near the high teens at the neighborhood level, this points to manageable affordability pressures that can support lease retention. However, relatively accessible home values in this market can create some competition with ownership, so pricing power will be more tied to operational execution and asset quality than scarcity.
Neighborhood safety indicators compare around the national middle to somewhat better nationally, while ranking below the metro median within Bellefontaine (15th of 23). Recent trends are constructive: both property and violent offense rates have declined year over year in the neighborhood, with property offenses showing a notably sharp drop. These improvements help reduce volatility risk, though investors should still underwrite to submarket norms rather than assuming continued gains.
The area’s employment base is diversified across manufacturing, environmental services, logistics, and large healthcare and retail headquarters within commuting distance. This mix supports workforce housing demand and can aid retention for residents with stable regional employers, including Parker-Hannifin, Waste Management, Staples’ fulfillment operations, Cardinal Health, and Big Lots.
- Parker-Hannifin Corporation — manufacturing (24.6 miles)
- Waste Management — environmental services (28.5 miles)
- Staples Fulfillment Center — logistics (35.5 miles)
- Cardinal Health — healthcare distribution (37.2 miles) — HQ
- Big Lots — retail (43.1 miles) — HQ
356 Kent Dr offers a 35-unit footprint in a neighborhood that ranks near the top of the Bellefontaine metro, with amenity access that supports everyday convenience and renter retention. At the neighborhood level (not the property), occupancy has held in the low-90s and the renter-occupied share of units is relatively high for the metro, indicating depth in the tenant base. According to CRE market data from WDSuite, the submarket’s rent levels remain accessible, which supports lease stability while leaving room for value-add differentiation.
Built in 1996, the property is newer than nearby averages and should compete well against older stock, though investors should plan for targeted modernization of interiors and systems as part of an asset management program. Household growth within a 3-mile radius and a trend toward smaller household sizes point to continued demand for multifamily housing, with ownership affordability in the area suggesting that rent growth will be driven by execution, quality, and resident experience rather than scarcity.
- Neighborhood-level occupancy stability and a high metro ranking support leasing consistency
- 1996 vintage offers competitive positioning with clear value-add and modernization pathways
- 3-mile household growth and smaller household sizes expand the renter pool and support demand
- Risks: relatively accessible ownership options can cap pricing power; safety ranks below the metro median—underwrite to local comps and emphasize operational execution