| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 73rd | Best |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 502 Stonington Cir, Dayton, OH, 45458, US |
| Region / Metro | Dayton |
| Year of Construction | 1997 |
| Units | 108 |
| Transaction Date | 2012-12-31 |
| Transaction Price | $7,500,000 |
| Buyer | SaplingCenterville,LLC |
| Seller | AstonGlenApartments-FRIP, |
502 Stonington Cir, Dayton — Stabilized Suburban Multifamily
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data, with Inner Suburb location advantages supporting durable leasing performance.
This Inner Suburb pocket of Dayton-Kettering ranks among the top quartile nationally on overall neighborhood quality and shows competitive amenity access for daily needs. Grocery, dining, cafes, parks, and pharmacies index above national medians, helping support resident retention and day-to-day convenience for a 108-unit multifamily asset.
Schools in the area average roughly 4.0 out of 5 and are competitive among Dayton-Kettering neighborhoods (rank 12 out of 228), which can reinforce demand from households prioritizing education quality. Neighborhood occupancy is strong, supporting stability relative to both metro and national CRE trends.
Vintage context: the property’s 1997 construction is newer than the neighborhood average stock (1979), suggesting competitive positioning versus older assets while leaving room for selective modernization of interiors and building systems to capture value-add upside.
Tenure and demand: roughly two-fifths of nearby housing units are renter-occupied at the neighborhood level, indicating a meaningful renter concentration that supports a deeper tenant base for multifamily. Within a 3-mile radius, population and household counts have grown over the past five years, with further renter pool expansion projected by 2028—factors that can support occupancy stability and leasing velocity.
Affordability and pricing power: elevated local incomes and a rent-to-income structure that appears manageable by national standards point to room for disciplined rent growth and reduced turnover risk. Home values in this submarket reflect a high-cost ownership market relative to local incomes only in select pockets; overall, ownership costs remain moderate in context, which may create some competition for renters but still sustains reliance on professionally managed apartments for convenience and flexibility.
Safety indicators for the neighborhood are mixed. Compared with neighborhoods nationwide, overall safety sits below the national median (around the 29th percentile), while violent-offense metrics are closer to average nationally. Within the Dayton-Kettering metro, the neighborhood is below the metro average (rank 161 out of 228), suggesting investors should underwrite with conservative assumptions for security measures and loss mitigation.
Recent data signal a year-over-year uptick in both property and violent offense rates. While neighborhood-level trends can be volatile and block-level conditions vary, prudent planning for lighting, access control, and resident engagement can help support leasing and retention. These observations are framed at the neighborhood scale rather than the specific property.
Regional employers along the Dayton–Cincinnati corridor provide a broad white-collar and services employment base that supports commuter convenience and renter demand, including Anthem, AK Steel, Humana Pharmacy Solutions, Waste Management, and Duke Energy.
- Anthem Inc Mason Campus II — health insurance (22.5 miles)
- AK Steel Holding — steel manufacturing (24.6 miles) — HQ
- Humana Pharmacy Solutions — pharmacy benefits/services (25.8 miles)
- Waste Management — environmental services (27.6 miles)
- Duke Energy — utilities (28.1 miles)
502 Stonington Cir benefits from high neighborhood occupancy and a renter base supported by strong schools, daily-needs amenities, and steady demographic tailwinds within a 3-mile radius. The 1997 vintage positions the asset competitively versus older local stock while still offering value-add potential through targeted renovations and operational enhancements. According to CRE market data from WDSuite, the neighborhood’s performance sits above metro medians on key demand drivers, supporting an underwriting case for durable cash flow.
Household and population growth, rising incomes, and manageable rent-to-income dynamics point to sustained leasing depth and retention. Ownership remains attainable in parts of the submarket, which can create competition, but elevated convenience factors and professionally managed operations continue to reinforce multifamily relevance for a broad tenant pool.
- Strong neighborhood occupancy and competitive schools support demand and retention
- 1997 construction offers competitive positioning with selective value-add potential
- 3-mile population and household growth expands the tenant base, aiding leasing stability
- Amenity access (grocery, dining, parks) aligns with resident convenience and renewal rates
- Risk: Below-median safety metrics and some ownership competition warrant conservative underwriting