| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 51st | Fair |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1240 Garbry Rd, Piqua, OH, 45356, US |
| Region / Metro | Piqua |
| Year of Construction | 1997 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1240 Garbry Rd Piqua OH Multifamily Investment
Stabilized renter demand and above-median neighborhood occupancy suggest durable cash flow potential, according to WDSuite’s CRE market data. Affordability metrics point to manageable rent-to-income levels that can support retention while leaving room for measured rent growth.
The property sits in a suburban neighborhood in Piqua with an A neighborhood rating and a competitive position within the Dayton-Kettering metro (ranked 30th out of 228 neighborhoods). Amenity access is slightly above national norms, with grocery and restaurant density supportive of daily needs; childcare options are thinner locally and may influence unit mix appeal for households with young children. Average school ratings sit near the metro middle, making the area competitive among Dayton-Kettering neighborhoods without being a regional standout.
Neighborhood multifamily occupancy is strong and steady, with the area landing in the top quartile nationally for occupancy stability. Renter-occupied housing is elevated relative to national norms, indicating a deeper tenant base for multifamily product and typically steadier lease-up and renewal pipelines. Median contract rents are lower versus many U.S. submarkets, and the rent-to-income ratio remains moderate, which can support lease retention while allowing for disciplined revenue management.
Within a 3-mile radius, demographics show a small decline in population over the past five years alongside growth in households and families, reflecting smaller household sizes and a potential tilt toward rental demand. Forward-looking estimates indicate population and household growth over the next five years, expanding the renter pool and reinforcing occupancy stability based on CRE market data from WDSuite.
Median home values are around national midlevels locally. This ownership landscape can create some competition with entry-level for-sale options, yet it also supports sustained renter reliance on multifamily housing, particularly for residents prioritizing flexibility and upfront cost savings. For an asset built in 1997, the vintage is newer than the neighborhood’s average stock (1990), offering relative competitiveness versus older properties while warranting planning for mid-life system updates or targeted renovations to drive performance.
Safety indicators are mixed relative to peers. The neighborhood’s crime rank is 148 out of 228 Dayton-Kettering neighborhoods, which is below the metro median, and it sits around the 30th percentile nationally for safety, indicating weaker comparative safety versus many U.S. neighborhoods. Investors should underwrite with attention to security measures and tenant experience, while tracking local trendlines.
Recent year-over-year estimates show an uptick in both property and violent offense rates locally. While single-year changes can be volatile, prudent operators typically consider lighting, access control, and collaboration with local community resources to support resident satisfaction and retention.
Regional employment access is driven by a diverse base within commuting range, supporting workforce housing demand. Notable nearby employer presence includes the following within typical drive times.
- Waste Management — environmental services (25.2 miles)
This 84-unit 1997 asset benefits from a suburban location where neighborhood occupancy trends are strong and renter concentration is elevated, supporting depth of demand and leasing stability. Lower median contract rents and a moderate rent-to-income profile provide room for disciplined rent growth while supporting renewal rates. Compared with local stock that skews earlier vintage, the property’s newer construction enhances competitive positioning; targeted mid-life upgrades can unlock value without overreliance on outsized rent lifts.
Within a 3-mile radius, households and families have grown despite a modest population dip, implying smaller household sizes and sustained demand for rental housing; forward-looking projections indicate population growth and a larger tenant base in the coming years. According to CRE market data from WDSuite, the neighborhood ranks competitively in the metro, with occupancy in the top quartile nationally, supporting a thesis centered on stable income and measured operational improvements.
- Strong neighborhood occupancy and elevated renter concentration support leasing stability
- Moderate rent levels and rent-to-income dynamics enable disciplined revenue management
- 1997 vintage offers competitive positioning with targeted value-add via system and interior updates
- 3-mile household and family growth, with forecasts indicating a larger renter pool ahead
- Risks: safety metrics below metro median and recent offense-rate upticks warrant prudent security and underwriting