| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 68th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2961 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 |
2961 Knollridge Dr, Dayton OH — 24-Unit Value-Add Multifamily
Stabilized neighborhood occupancy and a low rent-to-income profile point to steady leasing and room for disciplined upgrades, according to WDSuite’s CRE market data. The 1973 vintage suggests targeted capital planning can enhance competitiveness against newer suburban stock.
This suburban Dayton-Kettering location shows broadly steady renter demand with the neighborhood s occupancy around the mid-90s; this is measured for the neighborhood and not the property. Within the metro, the area performs above the median on overall neighborhood quality (rank 61 of 228), indicating competitive fundamentals without paying core-submarket premiums.
Livability is supported by convenient park access (top quartile nationally) and adequate grocery coverage (above national median), while cafes and pharmacies are less dense locally. For investors, that mix generally aligns with workforce-oriented demand drivers and car-oriented suburban living rather than destination retail.
Tenure data point to depth in the renter base: within the 3-mile radius, an estimated ~40% of housing units are renter-occupied, while the immediate neighborhood s renter-occupied share is lower at roughly one-quarter. This split suggests nearby sub-areas help supply a broader tenant pool, supporting occupancy stability while moderating turnover risk.
Pricing context is constructive. A low neighborhood rent-to-income ratio (about 0.12) provides a buffer for lease management and measured rent pushes, and elevated home values relative to local incomes indicate a high-cost ownership market for many households factors that can sustain multifamily demand and retention. The property s 1973 construction is older than the neighborhood s average vintage (1983), creating a straightforward value-add path via unit modernization and system upgrades. These dynamics are drawn from commercial real estate analysis supported by WDSuite s data.
Safety indicators are mixed in comparative terms. Property and violent offense benchmarks place the neighborhood in stronger national percentiles (safer than many neighborhoods nationwide), yet recent-year trend lines show upticks that warrant monitoring. Within the Dayton-Kettering metro, overall crime positioning sits around the middle of the pack (rank 93 of 228 neighborhoods), which is consistent with a typical suburban profile rather than an outlier.
For underwriting, this suggests reasonable expectations for tenant retention and leasing, with prudent attention to security measures and lighting as part of capital plans. Use trend reviews and updated local reports to track whether the recent increases are episodic or persistent before setting longer-term assumptions.
Regional corporate corridors within commuting reach help diversify the employment base that supports renter demand, led by insurance, steel, energy, retail, and consumer products employers noted below.
- Anthem Inc Mason Campus II insurance services (24.7 miles)
- AK Steel Holding steel manufacturing (25.5 miles) HQ
- Humana Pharmacy Solutions healthcare services (26.9 miles)
- Waste Management environmental services (27.6 miles)
- Duke Energy utilities (28.2 miles)
- Cincinnati Financial insurance (29.2 miles) HQ
- Prudential Financial financial services (29.6 miles)
- Kroger DCIC retail/consumer goods (30.4 miles)
- Procter & Gamble Co. consumer products (35.5 miles)
- Humana healthcare insurance (40.4 miles)
2961 Knollridge Dr combines a steady suburban renter base with favorable affordability signals and a clear value-add angle. Neighborhood occupancy measures in the mid-90s (for the neighborhood, not the property) and a low rent-to-income ratio indicate room for disciplined pricing while preserving retention. The 1973 vintage is older than surrounding stock, positioning targeted renovations and system updates to lift competitive standing against 1980s-and-newer peers.
Within a 3-mile radius, recent population and household growth alongside projections for additional households and a modestly higher renter share point to a larger tenant base over time. Elevated ownership costs in the area help sustain demand for rentals, and, according to CRE market data from WDSuite, neighborhood amenities such as parks and grocery access support livability despite lighter cafe/pharmacy density. Key risks include monitoring recent crime trend upticks and ensuring renovation scopes align with achievable rents.
- Occupancy stability at the neighborhood level supports consistent leasing and renewals.
- Low rent-to-income ratio provides pricing headroom with managed retention risk.
- 1973 vintage offers value-add potential through unit upgrades and systems modernization.
- 3-mile demand drivers: growing households and a broad renter pool reinforce tenant depth.
- Risks: monitor recent safety trend upticks; tailor capex to achievable rent levels.