| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 78th | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1551 Causeway Dr, Dayton, OH, 45458, US |
| Region / Metro | Dayton |
| Year of Construction | 1986 |
| Units | 32 |
| Transaction Date | 2001-06-25 |
| Transaction Price | $7,115,600 |
| Buyer | CHESAPEAKE LANDING APARTMENTS LLC |
| Seller | LP CHESAPEAKE LANDING APARTMENTS PARTN |
1551 Causeway Dr Dayton Multifamily Value-Add Angle
Neighborhood multifamily occupancy is high and rising, supporting stable cash flow potential according to WDSuite’s CRE market data, with this 1986 asset positioned for operational tuning alongside a deep renter base.
Located in Dayton’s inner suburb context, the neighborhood ranks 10 out of 228 metro neighborhoods (A+ rating), placing it firmly in the top quartile locally. Amenities skew favorable for daily needs—restaurants and childcare density both benchmark in the top quartile among metro peers—while parks and grocery access also outperform, reinforcing livability drivers that sustain renter demand.
Renter-occupied share in the neighborhood is about 55%, which is top quartile nationally, indicating a deep tenant base and resilient leasing backdrop for multifamily operators. Neighborhood occupancy is approximately 95.5% and above the metro median, a positive signal for renewal rates and lease stability. Median contract rents in the area have trended upward over the last five years, suggesting durable demand alongside measured pricing power.
The average construction year in the neighborhood is 1997. With a 1986 vintage, the property is slightly older than nearby stock, implying potential value-add through targeted capital planning (exteriors, unit finishes, common areas) to sharpen competitive positioning versus newer comparables. Rent-to-income metrics track near national medians, which can support retention while still allowing for selective revenue optimization.
Within a 3-mile radius, population and households have grown in recent years (with additional growth projected), expanding the renter pool and supporting occupancy stability. Household incomes in the 3-mile area are relatively strong and rising, which, together with a balanced value-to-income landscape, can underpin steady absorption without overreliance on concessions. These dynamics are consistent with neighborhood-level signals highlighted by WDSuite’s multifamily property research.
Neighborhood-level safety metrics were not available in WDSuite for this specific area at the time of publication. Investors typically benchmark submarket and metro trends alongside property operations (lighting, access control, and visibility) to evaluate resident experience and retention risk.
The broader employment base includes insurance, steel, utilities, and healthcare services, offering diversified white- and gray-collar demand that supports leasing and retention for workforce and professional tenants. Notable nearby employers include Anthem, AK Steel, Humana Pharmacy Solutions, Duke Energy, and Cincinnati Financial.
- Anthem Inc Mason Campus II — insurance (22.7 miles)
- AK Steel Holding — steel manufacturing (24.0 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (25.3 miles)
- Duke Energy — utilities (27.1 miles)
- Cincinnati Financial — insurance (28.0 miles) — HQ
This 32-unit, 1986 vintage property benefits from a neighborhood that ranks in the top quartile among 228 metro neighborhoods for overall quality and convenience-oriented amenities. Occupancy in the neighborhood is above the metro median, and renter concentration is high, supporting demand depth and renewal stability. Given the asset’s age versus a 1997 neighborhood average, targeted renovations present a straightforward path to sharpen competitiveness and capture measured rent premiums where supported by finish and common-area upgrades.
Household and population growth within a 3-mile radius point to a larger tenant base over time, while rent levels have moved upward in recent years, reinforcing absorption without heavy incentives. Based on commercial real estate analysis from WDSuite, these fundamentals suggest a focus on operations and selective capital improvements could support durable performance, while mindful underwriting should account for potential capex and cyclical rent-growth moderation.
- Top-quartile neighborhood fundamentals and daily-needs amenities
- Above-metro-median occupancy and strong renter concentration support leasing stability
- 1986 vintage offers clear value-add via focused unit and common-area upgrades
- Risks: aging systems and cyclical rent-growth normalization warrant conservative capex and revenue assumptions