| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 68th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2921 Knollridge Dr, Dayton, OH, 45449, US |
| Region / Metro | Dayton |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2004-07-12 |
| Transaction Price | $2,300,000 |
| Buyer | CONSOLIDATED PROPERTIES IV LLC |
| Seller | COLUMBIA KNOLLS LTD |
2921 Knollridge Dr Dayton, Ohio Multifamily Investment
Occupancy in the surrounding neighborhood trends above the metro median, supporting steady renter demand, according to WDSuite’s CRE market data.
This suburban pocket of Dayton-Kettering is rated B+ and is competitive among 228 Dayton-Kettering, OH neighborhoods (ranked 61 of 228). Neighborhood occupancy trends above the metro median (nationally around the upper-middle range), which can support revenue stability for small and mid-size multifamily assets.
Livability is serviceable with parks as a relative strength (park access ranks in the higher national percentiles), while everyday amenities like restaurants and groceries are moderate for the metro and closer to mid-pack nationally. Median rents in the neighborhood sit near the national middle and have grown over the last five years, suggesting room for ongoing rent management without overreliance on outsized increases.
Vintage context matters: the property’s 1973 construction is older than the neighborhood’s average 1983 stock, implying near- to medium-term capital planning and potential value-add or renovation upside to sharpen competitive positioning against newer inventory.
Tenure patterns indicate a measured renter base at the neighborhood level, with a modest share of housing units renter-occupied, while the broader 3-mile radius shows a larger renter concentration. Combined with population growth and a projected increase in households within 3 miles, this points to a deeper tenant pool that can support leasing and retention over time.
Income conditions are comparatively strong for the metro and above national medians, and elevated home values locally (higher than the national midpoint) reinforce reliance on multifamily for households that prioritize flexibility. Together, these factors can sustain demand and help support pricing power while keeping an eye on affordability management.
Safety signals are mixed and should be contextualized at the neighborhood level rather than the block. Within the Dayton-Kettering metro, the neighborhood’s crime rank sits around the middle of 228 neighborhoods, while nationally it aligns somewhat below the median. At the same time, WDSuite’s indicators for both property and violent offenses compare favorably to neighborhoods nationwide (roughly top quartile nationally), though recent year-over-year changes point to an uptick that merits monitoring.
For investors, the takeaway is to underwrite with standard loss-prevention and security assumptions, track trendlines rather than single-year movements, and compare micro-location risk controls to peer assets in the submarket.
Regional corporate offices within commuting distance broaden the employment base that supports renter demand and lease retention, including Anthem, AK Steel, Humana Pharmacy Solutions, Waste Management, and Duke Energy.
- Anthem Inc Mason Campus II — corporate offices (24.66 miles)
- AK Steel Holding — corporate offices (25.50 miles) — HQ
- Humana Pharmacy Solutions — corporate offices (26.83 miles)
- Waste Management — corporate offices (27.60 miles)
- Duke Energy — corporate offices (28.13 miles)
The investment thesis centers on steady neighborhood fundamentals, a renter base supported by healthy incomes, and occupancy trends above the metro median. The 1973 vintage is older than the area’s average stock, creating clear value-add and capital planning angles to improve competitiveness versus newer properties. Population growth and a projected increase in households within a 3-mile radius suggest a larger tenant base over the next several years, which supports occupancy stability and leasing velocity.
Home values sit above the national midpoint, reinforcing sustained reliance on rentals, while rent levels and a balanced rent-to-income backdrop support retention strategies. According to CRE market data from WDSuite, the neighborhood’s performance indicators compare competitively within the metro and align near the national middle on several measures, offering a measured path to durable cash flow with targeted upgrades.
- Occupancy trends above the metro median support revenue stability and lease retention
- 1973 vintage provides value-add potential through renovations and operational improvements
- 3-mile population and household growth expand the tenant base and support absorption
- Income strength and elevated ownership costs reinforce multifamily demand and pricing power
- Risk: mixed but improving comparative safety signals; underwrite with prudent security and trend monitoring