| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 65th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 840 Union Rd, Englewood, OH, 45322, US |
| Region / Metro | Englewood |
| Year of Construction | 1991 |
| Units | 96 |
| Transaction Date | 1999-07-01 |
| Transaction Price | $3,700,000 |
| Buyer | Vineyards |
| Seller | Connor/Murphy |
840 Union Rd, Englewood OH Multifamily Investment
Stabilized renter demand in the surrounding neighborhood and competitive positioning versus older local stock point to steady operations, according to WDSuite’s CRE market data. Focus is on durable occupancy with measured upside from thoughtful updates rather than aggressive lease-up risk.
The property is situated in a suburban pocket of Englewood that ranks favorably within the Dayton–Kettering metro. The neighborhood holds an A rating and is competitive among metro peers (12 out of 228), reflecting balanced fundamentals that support multifamily performance without relying on a single demand driver.
Local amenity access is a relative strength: restaurants, cafes, parks, and pharmacies track in the top quartile nationally, helping with resident retention and leasing velocity. Average school ratings sit modestly above national midpoints, which can add to neighborhood livability for family renters.
Neighborhood occupancy is elevated and competitive among Dayton–Kettering neighborhoods, supporting cash flow consistency. Renter-occupied housing accounts for roughly one-third of units in the neighborhood, indicating a moderate renter concentration and a sufficiently deep tenant base for garden-style communities.
Within a 3-mile radius, demographics show a slight population contraction alongside stable household sizes, while WDSuite’s data point to rising household incomes and an expected increase in household counts over the next five years. For investors, that combination suggests a larger tenant base and reinforced demand for rentals, aligning with disciplined multifamily property research focused on demand depth and lease stability.
The 1991 construction year is newer than the area’s average vintage from the 1970s, which can be a competitive advantage versus older product. Investors should still plan for targeted modernization and systems upkeep to maintain positioning against recent deliveries in the broader metro.
Home values in the neighborhood trend below national medians and the value-to-income ratio is comparatively low. In practice, this can create some competition from ownership options; however, it also supports renter retention for households prioritizing convenience, flexibility, or near-term affordability, which can sustain occupancy and reduce turnover.
Safety indicators present a mixed picture. The neighborhood compares better within the Dayton–Kettering metro than it does nationally, where crime measures sit below the national median. For investors, this points to typical suburban risk management: emphasize on-site lighting, access controls, and resident engagement to support community standards and retention.
Ranked against 228 metro neighborhoods, recent readings suggest the area is competitive locally, but national percentiles indicate room for improvement versus nationwide benchmarks. Monitoring year-over-year volatility is prudent when evaluating insurance costs, security practices, and potential operating expense variability.
Regional employment is anchored by corporate offices within commuting distance, supporting renter demand through diversified white- and blue-collar jobs. Notable nearby employers include Waste Management, AK Steel, Anthem, Duke Energy, and Humana.
- Waste Management — environmental services (25.7 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)
- Humana Pharmacy Solutions — healthcare services (39.0 miles)
This 96-unit asset built in 1991 offers a favorable blend of neighborhood stability and operational predictability. Neighborhood occupancy is strong relative to the metro, while renter-occupied housing sits at a moderate share — a profile that supports steady leasing without overreliance on transient demand. According to CRE market data from WDSuite, local amenities test well against national peers, adding to retention and day-to-day resident satisfaction.
The vintage is newer than the area’s 1970s average, positioning the property competitively against older stock; targeted capital to refresh interiors, common areas, and building systems can capture value-add potential while sustaining rent-to-income balance. Ownership is comparatively accessible in this market, which can increase competition from for-sale options — a manageable risk with disciplined pricing, resident experience, and ongoing maintenance.
- Durable neighborhood demand with competitive occupancy versus metro peers
- 1991 vintage offers edge over older stock with targeted modernization upside
- Amenity-supported suburban location aids retention and leasing velocity
- Risk: accessible ownership can compete with rentals — mitigated by quality, service, and pricing discipline