| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 59th | Good |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 Crescent Dr, Troy, OH, 45373, US |
| Region / Metro | Troy |
| Year of Construction | 1973 |
| Units | 67 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
505 Crescent Dr, Troy OH Multifamily Investment
Neighborhood fundamentals point to stable renter demand and steady occupancy, according to WDSuite’s CRE market data, with positioning suited for value-add execution. Investors may find durability from a balanced tenant base and Inner Suburb location near Dayton-Kettering.
Located in Troy’s Inner Suburb fabric within the Dayton-Kettering metro, the neighborhood is competitive among Dayton-Kettering neighborhoods (ranked 23 out of 228) with a balanced mix of services and mid-range schools. Amenity access trends in the middle of the pack nationally, with everyday needs like groceries, pharmacies, parks, and childcare represented at levels that support day-to-day livability for renters.
The neighborhood’s occupied housing share remains in the low 90s, and roughly half of housing units are renter-occupied, indicating a durable renter concentration that supports depth of the tenant base and leasing stability. Median contract rents in the area sit at accessible levels relative to incomes, and the neighborhood’s rent-to-income ratio is favorable, which can aid retention and reduce turnover risk from affordability pressure.
Within a 3-mile radius, demographics show moderate population growth alongside an increase in households and families, with forecasts indicating additional household gains and smaller average household sizes over the next five years. For multifamily owners, that trend typically widens the renter pool and can support occupancy as more one- and two-person households seek rental options.
The median home value here is lower than many high-cost metros, which can introduce some competition from ownership options; however, it also helps sustain renter reliance on multifamily housing for those prioritizing flexibility. Average school ratings around 3.0 out of 5 suggest a serviceable education environment that, combined with steady household incomes, supports workforce housing demand.
The property’s 1973 vintage is older than the neighborhood’s average construction year, pointing to potential capital expenditure needs and renovation upside. Thoughtful upgrades can improve competitive positioning against newer stock while targeting rent premiums consistent with local demand.
Safety indicators for the neighborhood are below the national median, with the area ranking 153 out of 228 within the Dayton-Kettering metro, indicating higher crime relative to many metro peers. Nationally, the neighborhood sits in the lower percentiles for safety, so investors should underwrite prudent security measures and be selective with value-add scopes to support resident comfort and retention.
Recent trends are mixed: estimated property offenses declined year over year, while estimated violent offenses increased. These signals warrant monitoring over the hold period and may influence operating practices such as lighting, access controls, and resident engagement initiatives.
Regional employers provide a commutable job base that can reinforce renter demand, led by Waste Management and the Staples Fulfillment Center. Proximity supports workforce housing dynamics and lease stability for residents with regional commutes.
- Waste Management — environmental services (21.8 miles)
- Staples Fulfillment Center — distribution & logistics (44.5 miles)
505 Crescent Dr sits in an Inner Suburb neighborhood that is competitive within the Dayton-Kettering metro and supported by a balanced amenity base, mid-range schools, and a renter-occupied share around half of housing units. Occupancy at the neighborhood level has held in the low 90s, and rent levels relative to income suggest manageable affordability pressure that can help stabilize retention, based on CRE market data from WDSuite.
Built in 1973, the asset is older than the area’s average vintage, indicating clear value-add and capital planning opportunities to close the competitive gap with newer stock. Household growth within a 3-mile radius and a trend toward smaller household sizes point to a gradually expanding renter pool, while ownership remains relatively accessible, requiring disciplined positioning and amenity strategy to maintain pricing power.
- Competitive neighborhood standing within Dayton-Kettering supports consistent leasing
- Favorable rent-to-income dynamics aid retention and reduce turnover risk
- 1973 vintage provides clear value-add/CapEx pathways to enhance NOI
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-median safety indicators and competition from ownership options warrant conservative underwriting