| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 53rd | Good |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 710 Devonshire Dr, Celina, OH, 45822, US |
| Region / Metro | Celina |
| Year of Construction | 1977 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
710 Devonshire Dr Celina OH Multifamily Investment
Neighborhood occupancy is robust and renter demand is supported by daily-needs access, according to WDSuite’s CRE market data. The asset’s older vintage may offer value-add potential while operating in a submarket with stable leasing dynamics.
Celina’s inner-suburb location provides daily convenience with grocery and pharmacy access ranking among the strongest locally (both near the top of 20 metro neighborhoods), while cafés and restaurants are also competitive. Park and childcare access runs thinner, so residents rely more on private or nearby municipal options. School quality trends slightly above national midline, offering a practical draw for workforce households.
The neighborhood posts an A rating and ranks 2 out of 20 within the Celina metro, placing it firmly in the top quartile locally. Occupancy in the neighborhood is high and has improved over the past five years, supporting lease stability for multifamily. Median rents trend on the lower side for the region, which can aid retention while leaving measured room for repositioning where renovations justify.
Renter-occupied housing accounts for roughly one-third of units in the neighborhood, indicating a meaningful but balanced renter concentration that supports a steady tenant base for multifamily assets. Home values sit in a mid-market range for Ohio, which can help sustain rental demand by positioning apartments as accessible relative to ownership costs without over-reliance on rent concessions.
Within a 3-mile radius, population and households have grown in recent years and are projected to continue expanding, pointing to a larger tenant base over the next cycle. Rising incomes in the same 3-mile area signal capacity for modest rent growth, while a low-teens rent-to-income profile suggests affordability pressure is manageable. Together, these dynamics support occupancy stability and measured pricing power for well-maintained properties.
Safety indicators are mixed when viewed against broader benchmarks. The neighborhood’s overall crime position sits around the national middle, and its local crime rank is toward the weaker end of Celina’s 20 neighborhoods. Nationally, violent incident rates benchmark better than average, while property incidents are near the national midline.
Recent trends show property-related incidents easing year over year, but violent incident rates have moved up from a low base. Investors should underwrite to standard risk controls—lighting, access management, and resident screening—and compare claims history and incident trends to submarket peers rather than relying on block-level impressions.
Built in 1977, this 32-unit property offers classic value-add angles—interior updates and system modernization—to better compete against newer stock in a neighborhood with high and improving occupancy. According to commercial real estate analysis from WDSuite, the submarket’s rental levels and mid-range ownership costs support a durable renter pool without requiring aggressive concessions.
Neighborhood quality ranks 2 of 20 within the metro, daily-needs amenities are close at hand, and a balanced renter concentration underpins demand. Within a 3-mile radius, population and household growth, alongside rising incomes, point to a gradually expanding tenant base that supports lease-up and renewal stability. Key underwriting considerations include capital planning for a 1970s asset and prudent assumptions on rent lift tied to renovations.
- High neighborhood occupancy and improving five-year trend support leasing stability
- 1977 vintage offers clear value-add path via unit and system upgrades
- Daily-needs amenities and above-median school trends enhance livability for renters
- 3-mile population and household growth expand the tenant base and support renewals
- Risk: mixed safety indicators and aging physical plant warrant conservative CapEx and security planning