| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 65th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 800 Union Blvd, Englewood, OH, 45322, US |
| Region / Metro | Englewood |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | 1999-07-08 |
| Transaction Price | $3,700,000 |
| Buyer | VINEYARDS OF ENGLEWOOD LTD |
| Seller | VINEYARD PROPERTIES LMTD |
800 Union Blvd Englewood Multifamily Investment
Neighborhood occupancy around 96.7% suggests steady renter demand, according to WDSuite’s CRE market data, with performance competitive within the Dayton–Kettering metro. The asset’s suburban positioning supports stable leasing relative to nearby alternatives.
The property sits in an A-rated suburban neighborhood ranked 12th out of 228 Dayton–Kettering neighborhoods, indicating strong local fundamentals for multifamily. Amenity access is a relative strength, with restaurants, cafes, groceries, parks, and pharmacies placing the area in the upper national percentiles, which can aid resident retention and day-to-day convenience.
Occupancy for the neighborhood is high and competitive among Dayton–Kettering submarkets (96.7% and in the 81st percentile nationally), based on CRE market data from WDSuite. Median contract rents in the neighborhood are moderate relative to income, and the rent-to-income ratio sits below national mid-range levels, which supports lease stability while leaving some room for thoughtful revenue management rather than aggressive hikes.
Vintage matters for competitive positioning: built in 1990, the asset is newer than the neighborhood’s average construction year (1972). This typically reduces near-term capital needs versus older stock, though investors should still plan for system upgrades and selective renovations to keep pace with resident expectations and to position against older comparables.
Tenure patterns point to a measured but durable renter base. At the neighborhood level, renter-occupied housing comprises roughly one-third of units, while within a 3-mile radius renters represent roughly one-quarter of occupied units. For investors, this implies a stable—though not deep—tenant pool in which demand is driven by convenience and value, with less exposure to rapid churn.
Within a 3-mile radius, population has edged lower over the last five years while household counts have been relatively resilient and are projected to increase by 2028 even as total population is forecast to contract. This mix suggests smaller average household sizes and a gradual shift toward more households, which can support occupancy for efficient floor plans and reinforce demand for rental units that emphasize practicality and price-to-space value.
Home values in the neighborhood sit below national mid-range levels, indicating a more accessible ownership market. For multifamily, this means pricing power should be managed carefully, but the area’s convenience amenities and strong occupancy trend help underpin leasing velocity and renewal potential without relying on outsized rent growth.
Safety indicators are mixed and should be evaluated alongside property-level measures. The neighborhood’s crime rank places it 188th out of 228 Dayton–Kettering neighborhoods, which is below the metro average, and national comparisons indicate safety levels below the national midpoint. Recent data also reflect an uptick in reported incidents year over year. Investors may wish to account for enhanced lighting, access control, and community engagement as part of operating plans.
Comparative framing is important: while broader suburban amenities and occupancy stability support leasing, underwriting should incorporate conservative assumptions for security-related operating expenses and potential insurance considerations relative to stronger-ranked peer areas.
Regional employers within commuting distance support renter demand through diversified office and corporate services employment, including Waste Management, AK Steel Holding, Anthem, Duke Energy, and Cincinnati Financial. Proximity helps stabilize leasing by broadening the pool of income-qualified tenants.
- Waste Management — environmental services (25.6 miles)
- AK Steel Holding — steel manufacturing (37.6 miles) — HQ
- Anthem Inc Mason Campus II — healthcare insurance (38.4 miles)
- Duke Energy — utilities (38.5 miles)
- Cincinnati Financial — insurance (40.1 miles) — HQ
This 24-unit 1990-vintage property benefits from an A-rated suburban location ranked 12th of 228 in the Dayton–Kettering metro, with neighborhood occupancy near 96.7% supporting steady cash flow potential. The area’s amenity access and moderate rent-to-income positioning suggest retention advantages and manageable turnover relative to pricier submarkets, while a measured renter concentration supports consistent demand without overreliance on transient tenants, according to CRE market data from WDSuite.
Forward-looking dynamics within a 3-mile radius indicate households are projected to increase even as population trends soften, implying smaller household sizes and an expanding tenant base for efficient units. Given its newer-than-average vintage, the asset can compete effectively against older stock, with targeted upgrades and operational discipline offering potential value-add upside while keeping capital planning focused on building systems and unit modernization.
- Competitive suburban location with high neighborhood occupancy supporting leasing stability
- 1990 vintage offers relative advantage versus older area stock; targeted renovations can unlock further NOI
- Household growth within 3 miles broadens the renter pool for efficient floor plans
- Moderate rent-to-income dynamics favor renewal rates over aggressive pricing
- Risks: below-metro safety rankings and soft population trend warrant conservative underwriting and security-focused OPEX