| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 68th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2940 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 |
2940 Knollridge Dr, Dayton OH Multifamily Investment
Neighborhood occupancy trends are in the mid-90s, pointing to stable renter demand and steady leasing conditions, according to WDSuite’s CRE market data. For investors, the balance of renter households and income depth suggests potential for durable cash flows with prudent expense management.
This suburban Dayton-Kettering neighborhood carries a B+ rating and ranks 61 out of 228 metro neighborhoods, indicating performance that is competitive among area peers. Neighborhood occupancy averages 94.7% (69th percentile nationally), supporting a case for income stability relative to broader U.S. multifamily markets.
Livability indicators point to solid daily convenience. Amenity access ranks 101 of 228 in the metro (above the metro median), with grocery availability around the national median and restaurants slightly below national norms. Park access scores in the top quartile nationally, a quality-of-life feature that can support retention even when pricing power tightens.
Vintage is a consideration: the property’s 1973 construction is older than the neighborhood’s average 1983 vintage. For investors, this typically implies planning for systems upgrades and a targeted value-add program to enhance competitiveness versus newer stock while capturing operational efficiencies.
Tenure patterns indicate a balanced renter base. At the neighborhood scale, renter-occupied share is measured alongside a sizable owner presence; within a 3-mile radius, approximately 40% of housing units are renter-occupied. This mix points to a meaningful tenant pool that can support occupancy across cycles without overreliance on transient demand.
Demographic data aggregated within a 3-mile radius show population growth over the last five years with additional gains projected through 2028, alongside an increase in households and income levels. These trends translate into a larger tenant base and reinforce demand for rental units, which can aid lease-up velocity and reduce downtime relative to softer submarkets.
On affordability, neighborhood home values are elevated for the region while the rent-to-income ratio sits near 0.12. In practice, this combination can sustain renter reliance on multifamily housing and support lease retention, while keeping rent burdens in a range consistent with stable collections and lower turnover risk.
Safety signals are mixed but comparatively favorable in a national context. Property and violent offense rates benchmark in the upper quartile nationwide, indicating lower incident levels than many U.S. neighborhoods. Within the Dayton-Kettering metro, the neighborhood’s crime rank sits in the middle of the pack (93 of 228), reflecting conditions that are neither the best nor the worst among local peers.
Investors should note recent year-over-year upticks in both property and violent offense estimates. While single-year changes can be volatile, this trend warrants routine monitoring and alignment of onsite security, lighting, and access controls with standard multifamily risk management practices.
Regional corporate offices within commuting range help diversify employment drivers and can support renter demand for workforce housing. The employers below represent nearby anchors that contribute to the area’s white-collar and operational job base.
- Anthem Inc Mason Campus II — insurance services (24.7 miles)
- AK Steel Holding — steel manufacturing (25.5 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (26.8 miles)
- Waste Management — environmental services (27.6 miles)
- Duke Energy — utilities (28.1 miles)
The investment case centers on occupancy stability, balanced renter demand, and potential value-add upside. Neighborhood occupancy runs in the mid-90s and benchmarks above national norms; coupled with a rent-to-income ratio near 0.12, the area supports retention and consistent collections. According to CRE market data from WDSuite, neighborhood income levels and home values point to a high-cost ownership market locally, which tends to reinforce multifamily demand.
The 1973 vintage is older than the neighborhood average and calls for targeted capital planning. This can create an avenue to reposition interiors and common areas to improve competitiveness against 1980s-and-newer stock. Demographics aggregated within a 3-mile radius indicate recent population growth and a projected increase in households through 2028, expanding the renter pool and supporting occupancy and leasing velocity over the medium term.
- Occupancy above national norms supports income durability and lowers downtime risk.
- Balanced renter concentration and growing 3-mile population expand the tenant base.
- Elevated ownership costs locally sustain multifamily demand and aid lease retention.
- 1973 vintage enables value-add through system upgrades and unit modernization.
- Risk: mixed safety signals with recent upticks warrant proactive security and asset management.