| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 38th | Poor |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 240 S Main St, West Milton, OH, 45383, US |
| Region / Metro | West Milton |
| Year of Construction | 1975 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | $1,097,451 |
| Buyer | NEW MCKINLEY COMMONS LTD |
| Seller | MCKINLEY COMMONS LTD |
240 S Main St West Milton Multifamily Investment
Steady renter demand comes from a modest renter-occupied base and a generally accessible cost structure that supports retention, according to WDSuite’s CRE market data. The submarket’s ownership costs are comparatively low, so underwriting should emphasize operational execution and value-add to drive returns over aggressive rent growth.
West Milton sits within the Dayton–Kettering metro and skews rural, with limited cafes, restaurants, and parks compared with metro peers; grocery access is present but not dense. Neighborhood ratings place the area below the metro median on amenities (ranked 145 out of 228 neighborhoods), which suggests residents prioritize convenience retail and essential services over lifestyle destinations.
The average construction year in this neighborhood is 1958. With a 1975 vintage, the property is newer than much of the local stock, which can help competitive positioning versus older assets, though aging systems may still require targeted capital planning to modernize interiors and common areas.
Neighborhood occupancy trends are near the middle of the pack in the metro (ranked 174 of 228), indicating stable but competitive leasing conditions. Renter concentration is in the low 20% range locally, signaling a smaller but durable tenant pool; owners should expect demand tied to essential workers and long-term residents rather than transient renters.
Demographic indicators aggregated within a 3-mile radius show recent flat-to-soft population trends but a projected increase in households by the next five years, expanding the local tenant base and supporting occupancy stability. Median household incomes have been rising, which strengthens rent collections, while rent-to-income levels remain manageable for most renters, aiding lease retention.
Home values in the neighborhood are comparatively low versus national norms and the value-to-income ratio sits near the lower end of the national distribution. This more accessible ownership landscape can temper pricing power in upcycles, but it also encourages retention-focused strategies where well-maintained, functional units and professional management differentiate from older private stock.
Safety metrics for the neighborhood are mixed. Relative to neighborhoods nationwide, recent readings place violent and property offenses in stronger national percentiles (safer) even as the Dayton–Kettering metro rank sits around the middle of the pack (crime rank 120 out of 228). This implies conditions that compare favorably at the national level but are average locally.
Year-over-year volatility has been observed in both violent and property offense estimates, so investors should review trendlines rather than single-year snapshots and align security measures and lighting with operational standards typical for workforce-oriented assets.
Regional employment is anchored by essential services and industrial utilities, supporting workforce housing demand with reasonable commute tolerances. Nearby employers include Waste Management, AK Steel Holding, and Duke Energy, which help underpin leasing stability.
- Waste Management — waste & environmental services (26.2 miles)
- AK Steel Holding — steel manufacturing (43.9 miles) — HQ
- Duke Energy — utilities (44.5 miles)
This 33-unit, 1975-vintage asset offers relative competitiveness versus older neighborhood stock while leaving room for targeted upgrades to drive rent and resident experience. Based on CRE market data from WDSuite, neighborhood occupancy sits around the metro middle, and rent-to-income levels indicate manageable affordability pressure—favorable for collections and retention, with rent growth best achieved through renovation and service differentiation rather than outsized market moves.
Within a 3-mile radius, recent population trends have been subdued, but households are projected to grow over the next five years, expanding the renter pool and supporting steady lease-up. The area’s more accessible ownership costs can limit top-end pricing power, but also create a consistent value proposition for well-managed, functional units that compete effectively against older private stock.
- 1975 vintage is newer than much of the local stock, with clear interior/amenity upgrade potential
- Occupancy trends near the metro middle; retention supported by manageable rent-to-income levels
- Projected household growth within 3 miles supports a larger tenant base and leasing stability
- Workforce-oriented employer base within commutable distance underpins steady demand
- Risk: accessible ownership market may cap rent premiums; returns rely on operational and value-add execution