| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Fair |
| Demographics | 29th | Poor |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 523 Cambridge Ave, Zanesville, OH, 43701, US |
| Region / Metro | Zanesville |
| Year of Construction | 1973 |
| Units | 70 |
| Transaction Date | 2016-11-01 |
| Transaction Price | $2,415,000 |
| Buyer | --- |
| Seller | --- |
523 Cambridge Ave, Zanesville OH Multifamily Opportunity
Stabilized renter demand in an inner-suburb pocket with improving occupancy supports steady operations, according to WDSuite’s CRE market data. Neighborhood fundamentals lean service-oriented with accessible rents, positioning a 70-unit asset for durable cash flow with selective upgrades.
The property sits in an Inner Suburb neighborhood rated A- and competitive among Zanesville’s submarkets, ranking in the top quartile among 43 metro neighborhoods. Neighborhood occupancy is 92.2% with a modest five-year uptick, indicating resilient leasing conditions that can support revenue stability through cycles.
Renter concentration is roughly half of housing units (49.7% renter-occupied), which signals a meaningful tenant base for a 70-unit community without overreliance on transient demand. Median rent levels and a rent-to-income ratio near 0.16 point to manageable affordability, helping retention and reducing turnover sensitivity.
Local convenience is a differentiator: cafes and childcare density are top quartile nationally, and restaurants and groceries track above national midpoints. However, parks and pharmacies are limited within the neighborhood, and the average school rating is low versus national norms, which can influence family-oriented leasing strategies.
Within a 3-mile radius, recent population and household counts edged down, but projections call for population growth and a notable increase in households over the next five years, expanding the potential renter pool and supporting occupancy stability. Home values are comparatively lower for the region, which can create some competition from ownership options; even so, accessible rents help sustain multifamily demand, aligning with balanced leasing in this part of Muskingum County. This view is grounded in commercial real estate analysis from WDSuite.
Safety conditions are mixed. The neighborhood’s overall crime positioning trends below the national median, and it ranks near the bottom of Zanesville’s 43 neighborhoods for safety, indicating comparatively higher crime levels versus metro peers. At the same time, violent offense levels benchmark more favorably than many U.S. neighborhoods, while recent year-over-year changes indicate volatility that investors should monitor. Prudent operations planning—lighting, access control, and community engagement—can help manage risk and support leasing.
Proximity to regional distribution and logistics employment supports workforce housing demand and commute convenience for residents, with the following employer nearby.
- AutoZone Distribution Center — distribution & logistics (5.7 miles)
523 Cambridge Ave offers scale at 70 units with neighborhood occupancy at 92.2%, suggesting steady lease-up and retention. Built in 1973, the asset is newer than much of the local housing stock, which is older on average; that positioning can be competitive versus legacy properties, while still leaving room for targeted modernization of interiors, building systems, and curb appeal to drive rent lift and lengthen hold durability.
According to CRE market data from WDSuite, rent levels relative to income remain manageable, which supports retention and pricing power within reason. A forecasted increase in households within a 3-mile radius implies a larger tenant base over the medium term, while lower local home values can introduce ownership competition—calling for disciplined renewal strategies and ongoing value-add to sustain performance.
- Occupancy in the low-90s supports stable cash flow and predictable leasing.
- 1973 vintage presents value-add potential through targeted system and interior upgrades.
- Manageable rent-to-income dynamics bolster retention and reduce turnover risk.
- Household growth within 3 miles expands the renter pool over the next five years.
- Risks: crime levels below national median and ownership competition require active asset management and leasing strategy.