| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 52nd | Good |
| Amenities | 21st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 Lincoln Blvd, Russells Point, OH, 43348, US |
| Region / Metro | Russells Point |
| Year of Construction | 1982 |
| Units | 51 |
| Transaction Date | 2016-03-11 |
| Transaction Price | $2,597,400 |
| Buyer | INDIAN LAKE VILLA SENIOR HOUSING LTD |
| Seller | NATIONAL CHURCH RESIDENCES OF RUSSELLS P |
601 Lincoln Blvd Russells Point Multifamily Investment
Positioned in a rural pocket of Logan County with steady 3-mile population and household growth, the property benefits from a renter base with relatively low rent-to-income burden, according to CRE market data from WDSuite. Investors should weigh demand stability against an ownership market that remains comparatively accessible.
Russells Point is a rural neighborhood in the Bellefontaine, OH metro that pairs small-town living with essential conveniences. Grocery access trends competitive within the metro, and restaurant density stands above many nearby areas, while cafes, parks, childcare, and pharmacies are less concentrated. For investors, this mix points to day-to-day practicality rather than lifestyle-driven amenity premiums.
Neighborhood housing occupancy is below national norms and has improved in recent years, indicating some available supply alongside gradual tightening. This figure reflects the neighborhood overall, not the property, and suggests prudent underwriting for lease-up assumptions.
Within a 3-mile radius, demographic data shows population and households have grown and are projected to continue expanding, creating a larger tenant base over the medium term. Forecasts also point to smaller household sizes, which can support steady demand for smaller units and bolster occupancy stability for well-managed multifamily assets.
Renter-occupied housing comprises roughly a quarter of the local stock both at the neighborhood level and within 3 miles, supporting a defined but not dominant renter pool. Median contract rents are relatively low compared with national levels and pair with a favorable rent-to-income profile, which can aid retention and reduce turnover risk; however, comparatively accessible home values in the area may temper pricing power and require disciplined revenue management as renewals cycle.
Safety indicators benchmark favorably at the national level, with property and violent offense rates positioned in the higher national percentiles (safer than many U.S. neighborhoods). Recent year-over-year estimates indicate notable declines in both property and violent incidents. These figures describe neighborhood conditions rather than this specific property and should be incorporated into risk assessments alongside on-the-ground diligence.
The renter base benefits from commutable access to regional employers, supporting stable demand for workforce housing. Key drivers within reach include industrial manufacturing, environmental services, and energy.
- Parker-Hannifin Corporation — manufacturing and engineering (34.7 miles)
- Waste Management — environmental services (37.1 miles)
- Marathon Petroleum — energy (41.4 miles) — HQ
This 51-unit asset sits in a rural, needs-based rental market where neighborhood rents remain comparatively low and rent-to-income levels are favorable, supporting retention and day-to-day leasing stability. Within a 3-mile radius, population and household growth expand the tenant base, while projections of smaller household sizes can sustain demand for efficient floor plans. According to CRE market data from WDSuite, the neighborhood’s overall housing occupancy has trended upward from a low base, warranting conservative lease-up assumptions but indicating gradual tightening.
The local ownership market is relatively accessible by national standards, which may limit outsized rent growth and keep some renters considering for-sale options. Successful strategies are likely to emphasize operational execution, right-sized upgrades, and competitive positioning on value and convenience rather than amenity premiums. Investors should underwrite to steady occupancy with measured rent growth and consider capital plans that enhance durability and resident retention.
- Favorable rent-to-income dynamics support retention and reduce turnover risk.
- 3-mile population and household growth expands the renter pool over the medium term.
- Competitive access to groceries and restaurants supports everyday livability for tenants.
- Risk: Neighborhood housing occupancy is below national norms; underwrite conservative lease-up and renewal assumptions.
- Risk: Accessible ownership options may temper pricing power; emphasize operational discipline and value-focused upgrades.