| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1046 Pershing Rd, Zanesville, OH, 43701, US |
| Region / Metro | Zanesville |
| Year of Construction | 1977 |
| Units | 30 |
| Transaction Date | 2012-08-06 |
| Transaction Price | $400,000 |
| Buyer | PERSHING GROUP LLC |
| Seller | MEJ RENTALS LLC |
1046 Pershing Rd, Zanesville OH Multifamily Investment
Stabilized renter demand at the neighborhood level and workforce pricing support consistent leasing, according to WDSuite’s CRE market data. Monitor occupancy management for upside in a submarket where rents trend below national norms.
Located in an inner-suburb pocket of Zanesville, the property sits in a neighborhood with modest amenity density but practical access to daily needs. Grocery availability benchmarks around the national midpoint, while restaurants, cafes, parks, and childcare are sparse nearby—conditions that favor car-based living and value-oriented renters.
Renter-occupied housing accounts for a substantial share of units locally; the neighborhood ranks among the top quartile within the metro (out of 43 neighborhoods), signaling depth in the tenant base for small to mid-size multifamily. Neighborhood occupancy trends are below the national median and have softened modestly over five years, suggesting disciplined leasing and retention programs can add value.
Pricing positions as workforce housing: neighborhood rents sit in the lower national tiers, and the rent-to-income ratio reads near the national midpoint. This setup can support tenant retention while limiting near-term pricing power—important for underwriting. Home values are also lower versus national levels, which may create some competition from ownership options; operators should emphasize convenience, maintenance, and flexible lease terms to sustain occupancy.
Demographic statistics aggregated within a 3-mile radius show recent softness in population and households historically, with WDSuite projections indicating a rebound ahead—population growth and an increase in households are expected through the forecast period, alongside a shift toward a higher renter share. For investors, that points to a larger tenant base over time and supports steady multifamily demand when paired with competitive positioning and thoughtful renovations informed by multifamily property research.
Safety indicators are mixed: overall crime benchmarks below the national median (national percentile in the 30s), placing the area on the less-safe side compared with neighborhoods nationwide. Within the Zanesville metro, the neighborhood ranks near the lower end among 43 neighborhoods, indicating below-metro-average safety.
Recent year-over-year movements show volatility in both property and violent incident estimates. For underwriting, assume conservative security and lighting upgrades, clear house rules, and coordination with local resources, then track multi-year trends rather than single-year swings.
The area draws from a regional employment base suited to workforce renters, with commuting access to distribution and light industrial roles that can support leasing stability.
- Autozone Distribution Center — distribution/logistics (7.4 miles)
Built in 1977, this 30-unit asset is materially newer than much of the surrounding housing stock, giving it a competitive position versus older properties while still offering room for targeted system updates and unit renovations typical of late-1970s construction. According to CRE market data from WDSuite, neighborhood rents track in the lower national tiers and the rent-to-income profile sits near the national midpoint—conditions that support demand from value-seeking tenants and can bolster retention with the right finishes and service level.
Investor focus should be on operational blocking and tackling: lift occupancy in a submarket that has trended below national medians, prioritize efficient turns, and deploy cost-effective interior refreshes to capture durable, workforce rent levels. Monitor neighborhood safety and limited amenity density by enhancing on-site appeal (lighting, common-area upkeep, resident services) to reinforce leasing momentum as 3-mile demographics point to future renter pool expansion.
- Workforce positioning with below-national rent levels supports retention and steady tenant demand.
- 1977 vintage offers value-add through targeted system upgrades and unit refreshes versus older local stock.
- High renter concentration in the neighborhood provides depth to the leasing funnel.
- Operational upside from occupancy management and expense control in an amenities-light location.
- Risks: below-metro-average safety and limited nearby amenities call for on-site improvements and conservative underwriting.