| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 32nd | Poor |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 625 Mill St, New Lexington, OH, 43764, US |
| Region / Metro | New Lexington |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
625 Mill St New Lexington Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand supported by stable occupancy and an elevated share of renter-occupied units, according to WDSuite’s CRE market data. Positioned for workforce housing, the asset benefits from attainable rents that support retention while leaving room for disciplined revenue management.
Occupancy in the immediate neighborhood is strong and steady, with rates in the mid-90s and little change over the past five years, according to CRE market data from WDSuite. At 271 out of 580 metro neighborhoods, occupancy performance sits above the metro median while the national percentile is also favorable, indicating comparatively firm leasing conditions that can support pricing discipline.
The area shows an elevated renter-occupied share (40%+), ranking in the higher end among neighborhoods nationwide. For investors, this renter concentration translates into a deeper tenant base and supports demand stability for a 36‑unit community. Median contract rents in the broader neighborhood sit at accessible levels and rent-to-income is low by national standards, which can aid renewal retention and reduce turnover risk.
Livability is serviceable for a suburban setting, with groceries, parks, childcare, cafes, and pharmacies registering around the mid-50s to low-60s national percentiles. Average school ratings trend below national norms, which may influence tenant mix and marketing strategy but does not preclude steady workforce demand.
Demographic indicators within a 3‑mile radius show a modest population dip in the recent period alongside rising household counts in the outlook window as average household size declines. This pattern typically expands the pool of renting households and supports occupancy stability for well-managed assets. Median home values are relatively low for the region, which can increase competition from ownership options; however, attainable multifamily rents continue to sustain rental reliance among a meaningful share of households.
The property’s 1973 vintage is newer than the neighborhood’s older housing stock (average year circa 1948). That positioning can be competitively advantageous versus pre‑war inventory, while investors should still plan for ongoing system updates and targeted renovations to meet current renter expectations.
Neighborhood‑level crime benchmarking is not available in WDSuite for this location, so comparative safety insights at the block or property level can’t be stated. Investors typically supplement with local law enforcement reports, recent incident trends, and property‑level security measures to assess risk and inform underwriting.
Regional employers within commuting range help underpin workforce housing demand, including logistics, technology services, business services, beverages, and a major retail headquarters noted below.
- Autozone Distribution Center — distribution & logistics (24.3 miles)
- Avnet Services — technology services (39.6 miles)
- The Xerox Company — business services (39.8 miles)
- Dr Pepper Snapple Group — beverages (42.8 miles)
- L Brands — retail (44.2 miles) — HQ
625 Mill St offers exposure to a renter‑oriented suburban neighborhood where occupancy trends are stable and above the metro median. Based on CRE market data from WDSuite, attainable rent levels and a high renter concentration support steady absorption and renewal retention, while the area’s mid‑range amenity access caters to workforce households. Within a 3‑mile radius, forecasts point to more households as average household size decreases, a dynamic that typically broadens the tenant base for well‑managed multifamily assets.
The 1973 vintage is newer than much of the surrounding housing stock, suggesting relative competitiveness versus older properties. Investors should still plan for selective capital improvements to modernize interiors and systems, balancing rent management with affordability to maintain occupancy. Low rent‑to‑income ratios indicate room for disciplined revenue optimization without overextending affordability, though relatively low home values mean ownership can be a viable alternative—an important consideration for leasing strategy.
- Stable neighborhood occupancy above the metro median supports leasing durability
- Elevated renter-occupied share indicates a deeper tenant base for a 36‑unit asset
- 1973 construction provides competitive positioning versus older local stock with targeted value‑add potential
- Low rent‑to‑income ratios enable careful revenue management while supporting retention
- Risks: below‑average school ratings and accessible homeownership may increase competition and require focused leasing strategy