| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 54th | Best |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3784 Frazeysburg Rd, Zanesville, OH, 43701, US |
| Region / Metro | Zanesville |
| Year of Construction | 1997 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3784 Frazeysburg Rd Zanesville Multifamily Opportunity
Neighborhood occupancy is steady and renter concentration is just over half of housing units, supporting demand resilience in this inner-suburb location, according to WDSuite’s CRE market data.
This inner-suburb pocket of Zanesville shows balanced fundamentals that matter for multifamily: neighborhood occupancy trends are around the metro median, while renter-occupied housing makes up a little over half of units. For investors, that tenure mix points to a dependable tenant base and supports leasing stability through cycles.
Amenity access is mixed. Cafes and grocery options are competitive among Zanesville neighborhoods (both ranked 3rd out of 43), placing the area near the top locally and in the top quartile nationally for cafes. Parks, pharmacies, and childcare options are limited within the neighborhood, so resident convenience relies more on nearby corridors and drive-time access than on immediate walkability.
From an income and value context, neighborhood value-to-income metrics are stronger than much of the nation, indicating a relatively high-cost ownership environment versus local incomes that can reinforce reliance on multifamily rentals. Rent-to-income levels sit near national mid-range, which supports retention and measured pricing power rather than aggressive rent moves.
Demographics aggregated within a 3-mile radius indicate modest population growth over the last five years and a projected increase through 2028, with households expected to expand faster than population. A rising household count and a renter share that is set to tilt above 50% over the forecast period suggest a larger tenant base and support for occupancy and lease-up velocity. Neighborhood NOI per unit trends lead the Zanesville metro (1st of 43; top quartile nationally), signaling that well-positioned assets can compete effectively on revenue.
Safety indicators are mixed when viewed against metro and national benchmarks. Overall neighborhood crime sits below the national mid-range and trends a bit weaker than the Zanesville metro average. Violent offense levels are comparatively favorable nationally (upper tiers by percentile) and near the metro median (22nd out of 43), while property offenses are closer to national mid-range but have shown a recent uptick, warranting continued monitoring by owners.
For underwriting, this suggests standard security measures and resident experience investments can help sustain leasing and retention, with particular focus on property-care practices that deter opportunistic property crime.
Distribution and logistics employment nearby provides a steady workforce renter pool and commute convenience, with proximity anchored by the AutoZone distribution facility noted below.
- AutoZone Distribution Center — distribution & logistics (6.9 miles)
This 59-unit asset is positioned in a neighborhood with renter-occupied housing just over half of units and occupancy near the metro median, indicating demand depth with room to outperform through asset-level execution. According to CRE market data from WDSuite, NOI per unit for the neighborhood is competitive among Zanesville sub-areas and ranks in the top quartile nationally, suggesting revenue potential for well-operated properties. Demographics aggregated within a 3-mile radius show recent population growth and a notably faster increase in households, pointing to a larger tenant base and support for leasing.
Ownership costs relative to income are elevated in the area by national comparison, which tends to sustain rental demand and supports lease retention. Amenities skew toward everyday convenience (cafes and groceries) with fewer parks, pharmacies, and childcare in the immediate neighborhood, making drive-time accessibility and on-site offerings important differentiators for resident satisfaction.
- Renter concentration and steady neighborhood occupancy support demand resilience and leasing stability.
- Top-quartile neighborhood NOI per unit indicates revenue headroom for competitive assets.
- 3-mile household growth and an expanding renter pool underpin future absorption and retention.
- Elevated ownership costs versus income reinforce reliance on multifamily and pricing power moderation.
- Risks: limited nearby parks/pharmacies/childcare and a recent uptick in property crime call for active asset management and resident-experience investments.