| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 59th | Good |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1846 Towne Park Dr, Troy, OH, 45373, US |
| Region / Metro | Troy |
| Year of Construction | 2004 |
| Units | 24 |
| Transaction Date | 2012-05-15 |
| Transaction Price | $8,000,000 |
| Buyer | 1850 TOWNE PARK DRIVE HOLDINGS LLC |
| Seller | TOWNE PARK TIC LLC |
1846 Towne Park Dr Troy Multifamily Investment
Neighborhood fundamentals point to steady renter demand and balanced occupancy, according to WDSuite’s CRE market data, with a renter-occupied share that supports consistent leasing in an inner-suburban setting.
The property sits in an Inner Suburb of Troy within the Dayton-Kettering metro, where the neighborhood is rated A and ranks 23 out of 228 metro neighborhoods — a top quartile position that signals competitive location fundamentals for multifamily. Amenity access trends above national medians across groceries, restaurants, and daily services, reinforcing day-to-day convenience for residents.
Rent levels in the surrounding neighborhood track in the lower national third, which can support retention and broaden the tenant base, while the neighborhood occupancy rate is around the national midpoint. The share of housing units that are renter-occupied is 50.7% at the neighborhood level, indicating a deep pool of renter households and demand stability for professionally managed apartments.
Schools in the area average around the national upper half, and neighborhood amenities (cafes, childcare, parks, pharmacies) sit solidly above national medians, supporting livability that helps with leasing and renewals. Compared with the metro, these standings are competitive among Dayton-Kettering neighborhoods rather than purely destination-oriented, which typically aligns with workforce housing demand profiles.
Demographic statistics aggregated within a 3-mile radius show households have grown modestly in recent years and are projected to increase further, with smaller average household sizes expected. This pattern generally expands the renter pool and supports occupancy stability for mid-size assets, while forecast rent levels remain measured relative to incomes, according to WDSuite’s commercial real estate analysis.
Asset positioning and vintage
Built in 2004, the property is newer than the neighborhood’s average construction year (1984). That recency typically enhances competitiveness versus older stock and may reduce near-term capital needs; however, investors should still plan for system updates and selective modernization to sustain rentability and capture value-add potential.
Safety indicators for the neighborhood are mixed relative to the metro and nation. The neighborhood’s crime rank sits below the metro median (ranked 153 out of 228), indicating safety levels that trail many Dayton-Kettering subareas. Nationally, the neighborhood tracks in the lower percentiles for both violent and property offenses, so risk management and tenant screening remain important for operations.
Recent trends are nuanced: estimated property offense rates have improved year over year, while violent offense estimates have moved higher. Investors should monitor these dynamics over time and consider security measures and community engagement as part of the operating plan, using updated local data to calibrate underwriting.
Employment access is oriented to regional employers reachable by highway, supporting commute convenience for a workforce renter base. Nearby industry presence includes environmental services.
- Waste Management — environmental services (23.1 miles)
This 24-unit, 2004-vintage asset benefits from a top-quartile neighborhood position within the Dayton-Kettering metro and a renter-occupied housing share above half, supporting a stable tenant base. Neighborhood rent levels sit in the lower national third, which can aid retention and steady lease-up, while occupancy trends are around the national midpoint. According to CRE market data from WDSuite, local amenities and schools are above national medians, reinforcing livability without pricing beyond workforce demand.
Within a 3-mile radius, households have grown and are projected to expand further as average household size declines, pointing to a larger pool of renters over time. The 2004 vintage should remain competitive against older nearby stock, though prudent capital planning for systems and targeted upgrades will help sustain performance. Neighborhood NOI per unit trends around national midpoints, suggesting in-place operations can be optimized but will rely on disciplined expense control and careful rent management.
- Top-quartile neighborhood rank (23 of 228) within Dayton-Kettering supports location durability
- 2004 vintage offers competitive positioning versus older stock with selective value-add upside
- Renter concentration above half of units locally deepens the tenant base and supports leasing stability
- 3-mile household growth and smaller household sizes point to gradual renter pool expansion
- Risk: Safety metrics trail metro medians and national percentiles in parts of the area; underwriting should include security and retention strategies