| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 53rd | Good |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3797 Summit Glen Dr, Dayton, OH, 45449, US |
| Region / Metro | Dayton |
| Year of Construction | 1994 |
| Units | 114 |
| Transaction Date | 2014-01-27 |
| Transaction Price | $11,000,000 |
| Buyer | NIC 14 Dayton Owner, LLC |
| Seller | LL Dayton Realty, LLC |
3797 Summit Glen Dr 114-Unit Dayton Multifamily
Neighborhood fundamentals point to durable renter demand supported by accessible rents and everyday retail access, according to WDSuite’s CRE market data. While occupancy in the surrounding neighborhood is not top-tier, stability improves with a broader tenant base drawn from nearby suburbs and employment centers.
This suburban Dayton location delivers daily convenience: restaurants and pharmacies score well relative to regional peers, and grocery access is above the metro average, while parks and cafes are limited. In metro terms, amenities are competitive among Dayton-Kettering neighborhoods (84th of 228), and nationally the area sits above the midpoint for restaurants and pharmacies, which can support leasing and retention even without destination retail.
Built in 1994, the property is newer than the neighborhood’s average 1970s-era stock. That positions the asset competitively versus older buildings, though investors should anticipate selective modernization to keep systems current and to capture value-add potential.
Tenure patterns signal a steady renter base: the immediate neighborhood shows a renter-occupied share near three-tenths of housing units, indicating multifamily demand without over-reliance on rentals. Within a 3-mile radius, demographics show a broad mix of age cohorts and incomes, with recent population holding near flat and projections calling for low double-digit population growth and a sizable increase in households through 2028. That trajectory implies a larger tenant base and supports occupancy stability for well-positioned assets.
Pricing context is constructive for multifamily. Home values in the neighborhood track below national norms, and rent-to-income readings sit near national mid-range, suggesting manageable affordability pressure that can aid retention. Median school ratings are around the national midpoint, aligning with workforce-oriented product rather than premium family demand. Taken together, these factors point to consistent, needs-based rental demand in this submarket.
Safety indicators are mixed and should be underwritten thoughtfully. The neighborhood ranks 176 out of 228 within the Dayton-Kettering metro, indicating higher crime levels than many local neighborhoods. Nationally, property-incident readings sit close to the middle of the pack, while violent-incident metrics trail national medians. One-year changes can be volatile at the neighborhood scale; investors often address this with lighting, access controls, and community programming to support tenant retention.
Regional employment is diversified across healthcare, insurance, metals, and utilities, with large corporate offices within commuting range that can broaden the renter pool and support leasing stability. Notable nearby employers include Anthem, AK Steel Holding, Humana Pharmacy Solutions, Duke Energy, and Cincinnati Financial.
- Anthem Inc Mason Campus II — corporate offices (23.4 miles)
- AK Steel Holding — corporate offices (24.3 miles) — HQ
- Humana Pharmacy Solutions — corporate offices (25.6 miles)
- Duke Energy — corporate offices (26.9 miles)
- Cincinnati Financial — corporate offices (28.0 miles) — HQ
3797 Summit Glen Dr offers a 1994-vintage, 114-unit asset in a suburban Dayton submarket where daily-needs retail and services perform above metro averages. According to CRE market data from WDSuite, the neighborhood’s renter share and rent-to-income positioning support a broad tenant base, while newer-than-average vintage provides a platform for targeted upgrades to drive performance. Within a 3-mile radius, projections point to population growth and a meaningful increase in households through 2028, reinforcing renter pool expansion and supporting occupancy stability for competitively positioned units.
Key underwriting considerations include neighborhood safety readings that trail many Dayton peers and an occupancy profile that has been softer than top-quartile areas. Amenity gaps (notably parks and cafes) suggest the value proposition should emphasize convenience, parking, and in-unit features. With disciplined capital planning, the vintage and location fundamentals support a practical value-add thesis focused on modernization and resident experience.
- 1994 vintage supports targeted renovations and competitive positioning versus older local stock
- Daily-needs retail and services above metro averages support leasing and retention
- 3-mile outlook shows population and household growth, expanding the renter pool through 2028
- Pricing context and rent-to-income near national mid-range aid renewals and steady demand
- Risks: below-median metro safety, softer neighborhood occupancy, and limited parks/cafes call for proactive operations and security