| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 73rd | Best |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2156 Harshman Rd, Dayton, OH, 45424, US |
| Region / Metro | Dayton |
| Year of Construction | 1996 |
| Units | 72 |
| Transaction Date | 2013-10-01 |
| Transaction Price | $2,160,000 |
| Buyer | Premier Timber Ridge Ohio LLC |
| Seller | Timber Ridge Apartments Ltp |
2156 Harshman Rd Dayton Multifamily Investment Opportunity
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data, with the surrounding area showing strong lease-up resilience at the neighborhood level rather than the property level.
This suburban Dayton location balances everyday convenience with stable apartment demand. Neighborhood occupancy is high and has trended up over the past five years, placing the area in the top decile nationally for occupancy stability among neighborhoods, based on CRE market data from WDSuite. Median contract rents in the neighborhood sit near the national midpoint, which supports leasing velocity without overextending households.
Amenity access is service-oriented: grocery availability ranks competitive among 228 Dayton–Kettering neighborhoods and sits in a high national percentile, with pharmacies also above national norms. Restaurants are around national mid-percentile levels, while cafes and parks are sparse in the immediate neighborhood—considerations for marketing to lifestyle-focused tenants who prioritize walkable leisure amenities.
Tenure data signal a balanced tenant base. At the neighborhood level, renter-occupied share is relatively modest, indicating deeper single-family ownership nearby; however, within a 3-mile radius, renters account for a substantial portion of occupied housing units, creating a broader catchment for multifamily. For investors, this mix supports a steady pipeline of prospects while keeping single-family rentals and entry-level ownership as potential competitive sets.
Within a 3-mile radius, population slipped modestly in recent years, yet household counts increased and average household size declined—factors that typically expand the renter pool and support occupancy. Forward-looking estimates indicate moderate population growth and a sizable increase in households, pointing to incremental demand for rental housing and sustained leasing performance rather than outsized volatility.
Ownership costs in the neighborhood are comparatively accessible by national standards, which can create competition with for-sale options. That said, the neighborhood’s low rent-to-income ratio suggests manageable tenant affordability pressure, aiding retention and supporting consistent rent collections through typical cycles.
Safety indicators for this neighborhood sit near the middle of the Dayton–Kettering metro distribution (ranked around the metro median among 228 neighborhoods) and around the 40th percentile nationally, per WDSuite. In practical terms, that places the area somewhat below the national average for overall safety but not among the metro’s weakest pockets.
Property offense measures trend slightly better than national norms (around the low-50s percentile nationally), while violent offense metrics are closer to the national lower-middle range. Recent year-over-year changes show upticks across categories; investors should underwrite with current operating assumptions and consider common-sense measures (lighting, access control) that support tenant retention and asset performance.
Regional employers within commuting range help underpin renter demand, particularly for workforce and operations roles. The nearby base includes Waste Management, Anthem, AK Steel, Humana, and Duke Energy—diverse sectors that can support leasing stability.
- Waste Management — environmental services (17.9 miles)
- Anthem Inc Mason Campus II — health insurance (35.2 miles)
- AK Steel Holding — steel manufacturing (36.4 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (37.7 miles)
- Duke Energy — utilities (38.9 miles)
2156 Harshman Rd offers a 72-unit, 1996-vintage asset positioned in a suburban neighborhood with high occupancy and service-oriented amenities that support everyday living. Based on CRE market data from WDSuite, neighborhood occupancy ranks in a top national band and has improved over the last five years, a signal for stable cash flow and minimized downtime. Median rents benchmarking near national mid-percentile levels point to durable demand with balanced pricing power rather than outsized affordability pressure.
The 3-mile demographic pattern shows modest population softness alongside growth in households and smaller household sizes—conditions that typically broaden the renter base and support leasing. The property’s late-1990s construction suggests limited functional obsolescence, with selective modernization or common-area upgrades likely to drive value-add returns while competing effectively against older local stock. Investors should also consider ownership alternatives in a relatively accessible for-sale market and plan standard safety and asset-management measures given mixed-but-manageable crime indicators.
- High neighborhood occupancy and 5-year improvement support cash flow stability
- Service-oriented amenities (grocers, pharmacies) and commuting access underpin workforce demand
- 1996 vintage with potential for targeted renovations to enhance competitiveness
- Household growth within 3 miles and smaller household sizes expand the renter pool
- Risks: competition from entry-level ownership, limited leisure amenities nearby, and middle-of-metro safety profile