| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Good |
| Demographics | 46th | Good |
| Amenities | 5th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 E Orchard St, Payne, OH, 45880, US |
| Region / Metro | Payne |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
505 E Orchard St Payne Multifamily Investment Snapshot
Neighborhood occupancy trends are above the metro median and rent burdens are low, supporting tenant retention according to WDSuite’s CRE market data. This rural location favors stable, workforce-oriented demand, though rent growth may track conservatively.
Payne is a rural neighborhood in Paulding County with limited on-the-doorstep retail and services, so residents typically rely on nearby towns for daily needs. Public schools in the area average 4.0 out of 5 and test in the top quartile nationally, which helps overall livability for families and longer tenancies.
Neighborhood occupancy stands at 93.5% and ranks 5 out of 15 locally, placing it above the metro median and competitive among Paulding County neighborhoods. This indicates steady renter demand at the neighborhood level rather than property-specific performance.
Renter-occupied housing represents roughly one-fifth of units, signaling a smaller renter pool but one that can support consistent leasing for appropriately positioned product. Median contract rents are well below national norms, and the rent-to-income ratio is high-performing nationally, which supports retention but can temper pricing power.
Home values in the neighborhood are lower relative to national benchmarks, suggesting ownership is more accessible; for multifamily investors, this can introduce competition with for-sale options. The average construction year across the neighborhood skews older (1941), while this property’s 1984 vintage is newer than nearby stock, offering relative competitiveness; however, investors should still budget for system updates and selective modernization to sustain positioning.
WDSuite currently does not report comparable neighborhood-level crime figures for this area, so investors often benchmark safety using broader county and regional trends. Without consistent, like-for-like data, it is prudent to evaluate property operations, lighting, access control, and local law enforcement engagement as part of due diligence rather than drawing conclusions from block-level anecdotes.
The employment base is anchored by regional manufacturing and corporate offices within commuting distance, supporting workforce housing demand and lease stability. Listed below are key employers by proximity that underpin the area’s renter base.
- Steel Dynamics — steel manufacturing (27.4 miles) — HQ
- Kautex-Textron — automotive components (32.6 miles)
- RR Donnelley & Sons — printing & logistics (41.5 miles)
Built in 1984, this 24-unit asset is newer than much of the surrounding housing stock, providing a relative competitive edge while leaving room for value-add through targeted interior and systems modernization. At the neighborhood level, occupancy trends are above the metro median and rents are modest, which supports tenant retention and leasing stability, according to CRE market data from WDSuite.
Positioned in a rural setting with limited nearby amenities and more accessible ownership costs, the strategy that tends to perform best is durable workforce housing with disciplined expense control and measured rent increases. The low rent-to-income profile supports collections and renewal potential, while the smaller renter concentration implies the need for prudent marketing and asset differentiation.
- 1984 vintage is newer than local housing stock, with value-add upside via selective modernization
- Neighborhood occupancy above the metro median supports leasing stability
- Low rent-to-income dynamics favor retention and collections management
- Rural location and accessible ownership options may temper pricing power—differentiate on operations and product quality