| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 63rd | Best |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Old Rix Mills Rd, New Concord, OH, 43762, US |
| Region / Metro | New Concord |
| Year of Construction | 1975 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10 Old Rix Mills Rd, New Concord OH Multifamily Investment
Neighborhood occupancy remains resilient with stable renter demand, according to CRE market data from WDSuite. For investors, the mix of high occupancy and moderate rents points to steady cash flow potential with selective value-add upside.
Situated in the Zanesville, OH metro, the neighborhood ranks 4th of 43 with an A rating, placing it in the top quartile among metro neighborhoods. WDSuite data shows neighborhood occupancy at 96.7% (ranked 9th of 43), which is above the metro median and supportive of lease stability for a 50‑unit asset at 10 Old Rix Mills Rd.
Renter concentration is meaningful at roughly 40% of housing units being renter‑occupied in the neighborhood, indicating depth to the tenant base. Within a 3‑mile radius, households have inched higher over the past five years while population edged down, suggesting smaller average household sizes and a steady flow of renters. Forecasts point to additional growth in households by 2028 within that 3‑mile radius, which can expand the local renter pool and support occupancy.
The area offers practical conveniences rather than lifestyle density. Grocery access is comparatively strong (ranked 6th of 43 and above national midrange), while cafes, parks, and pharmacies are sparse. For investors, this translates to reliable essentials but fewer walkable amenities—more in line with suburban living and car‑oriented patterns common to the metro. School ratings are not available in this dataset; investors may choose to underwrite school quality via third‑party diligence if it is material to the strategy.
Median contract rents in the neighborhood remain modest versus national levels, and the rent‑to‑income ratio sits near 10%, which can reduce affordability pressure and aid retention. The submarket’s housing stock skews older (average vintage circa 1947), making the 1975 construction at this property relatively newer than local norms—typically competitive for operations, with potential for selective renovations to elevate finishes, systems, and curb appeal.
Safety indicators are comparatively favorable in context. The neighborhood’s overall crime profile sits around the 58th percentile nationally, indicating it performs somewhat better than the national midpoint. Property offenses trend safer: the property offense rate ranks 4th of 43 within the metro and is around the 75th percentile nationally, with a notable year‑over‑year decline. Violent offense levels are also around the 73rd percentile nationally, though recent change data show volatility. Investors should interpret these as metro‑relative strengths with some short‑term fluctuation and underwrite accordingly, rather than as block‑level guarantees.
The local employment base is oriented to distribution and logistics, supporting workforce housing demand and commute convenience for renters working nearby. Key employer access includes:
- AutoZone Distribution Center — distribution and logistics (8.6 miles)
This 1975, 50‑unit asset benefits from a high‑ranking suburban neighborhood (4th of 43 in the Zanesville metro) with occupancy above the metro median. According to CRE market data from WDSuite, the combination of resilient neighborhood occupancy, modest rent levels, and a rent‑to‑income profile near 10% supports retention and cash flow stability. The property’s vintage is newer than the area’s average housing stock, suggesting competitive positioning today and room for targeted value‑add work to modernize systems and finishes.
Investor underwriting can lean on a stable tenant base, supported by neighborhood renter concentration and a 3‑mile radius outlook that points to additional households by 2028—expanding the renter pool and helping sustain occupancy. Counterpoints include smaller‑market scale, limited lifestyle amenities, and signs of short‑term volatility in violent offense trends, warranting prudent assumptions on rent growth and spend reserves.
- High neighborhood rank (4th of 43) and occupancy above metro median support leasing stability
- Modest rents and low rent‑to‑income profile bolster retention and reduce turnover risk
- 1975 construction is newer than local average, with value‑add potential through targeted upgrades
- 3‑mile radius shows household growth through 2028, expanding the tenant base
- Risks: smaller‑market scale, limited amenity depth, and recent safety trend volatility