| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 42nd | Fair |
| Amenities | 25th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 W Market St, Celina, OH, 45822, US |
| Region / Metro | Celina |
| Year of Construction | 1980 |
| Units | 71 |
| Transaction Date | 2004-05-28 |
| Transaction Price | $1,828,200 |
| Buyer | NEW WILLIAMSBURG SQUARE LTD |
| Seller | --- |
1400 W Market St, Celina OH Multifamily Investment
Neighborhood occupancy has held in a stable range and rents remain comparatively accessible for local incomes, according to WDSuite s CRE market data. For investors, that combination supports steady tenant retention rather than outsized rent volatility.
The property sits in a B+ rated neighborhood in Celina, Ohio that ranks 8 out of 20 within the metro competitive among Celina neighborhoods and above the metro median on several stability measures. Neighborhood occupancy trends have been steady with a slight multi-year uptick, indicating durable leasing conditions at the sub-neighborhood level rather than short-lived spikes.
Livability is characteristic of a rural node: everyday necessities like groceries are present, while cafes, parks, and pharmacies are limited. School quality scores land in the higher half nationally, indicating serviceable education options that can support family renter retention over time. Amenity density trails national urban corridors, so leasing narratives should focus on value, convenience, and community stability rather than lifestyle variety.
Renter demand and tenure: The neighborhood shows a moderate share of renter-occupied housing units, implying a workable renter pool without excessive turnover pressure. In a 3-mile radius, demographic statistics indicate modest population growth in recent years with a projected increase in both population and households, expanding the potential tenant base. This points to stable absorption for workforce-oriented product, provided finishes and pricing remain aligned with local expectations.
Rents, incomes, and ownership context: Neighborhood rent levels sit on the lower end nationally with measured five-year growth, while median household incomes are near mid-national percentiles. The resulting rent-to-income profile is favorable, which can support lease renewals and occupancy stability. Home values in the area are relatively accessible compared with national averages; that can introduce some competition from ownership, but also tends to reinforce price-sensitive rental demand where convenience and upfront cost remain decisive factors.
Asset vintage: Built in 1980, the property is newer than the neighborhood s average construction year (late 1960s). Investors should plan for selective modernization and systems updates while evaluating light value-add to keep the asset competitive versus older local stock.
Safety indicators compare favorably. The neighborhood s crime profile ranks at the top of the Celina metro (1 out of 20 neighborhoods), translating to above-metro performance and top-quartile standing nationally based on WDSuite s benchmarks. Violent offense rates sit in the higher national percentiles for safety, while property offenses trend better than average.
Recent year-over-year trends show notable improvements, with violent and property offenses declining at a pace that outperformed many neighborhoods nationwide. While conditions can vary by block and over time, the comparative data supports a prudent underwriting assumption of stable safety relative to the broader region.
1400 W Market St offers a 71-unit 1980-vintage multifamily asset positioned in a competitive Celina neighborhood where occupancy has been steady and renter affordability is supportive of renewals. The area s lower rent levels relative to incomes suggest manageable affordability pressure and potential for disciplined revenue management rather than aggressive, volatile growth eading to predictable operations, according to CRE market data from WDSuite.
Demographic statistics aggregated within a 3-mile radius point to expanding population and households over the next few years, indicating a larger tenant base for workforce-oriented housing. The 1980 vintage implies targeted capex for modernization, but relative to older neighborhood stock it can compete well with thoughtful, cost-effective upgrades. Primary risks include limited amenity density typical of rural markets and some competition from accessible ownership options, both of which can be mitigated through positioning on convenience, value, and professional management.
- Stable neighborhood occupancy and favorable rent-to-income profile support retention and cash flow consistency.
- 1980 vintage offers light value-add and systems updates to enhance competitiveness versus older local stock.
- 3-mile radius projections indicate population and household growth, expanding the tenant base over time.
- Rural amenity depth is limited; leasing strategy should emphasize convenience, pricing discipline, and service.
- Ownership remains relatively accessible locally, which may compete with rentals; focus on value and upkeep to maintain occupancy.