| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Fair |
| Demographics | 48th | Good |
| Amenities | 34th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 111 Village Dr S, Eaton, OH, 45320, US |
| Region / Metro | Eaton |
| Year of Construction | 1974 |
| Units | 48 |
| Transaction Date | 2016-01-06 |
| Transaction Price | $1,550,000 |
| Buyer | Village South Apartments LLC |
| Seller | Village South Associates |
111 Village Dr S, Eaton OH Value-Add Multifamily
Neighborhood occupancy near 94.6% suggests durable leasing fundamentals for a 48-unit asset, according to WDSuite’s CRE market data. A 1974 vintage points to potential renovation upside while preserving cost basis in a steady renter market.
Rated A and ranked 3rd among 29 metro neighborhoods, this area sits in the top quartile locally—supporting consistent renter demand and operational stability. Neighborhood occupancy is 94.6% (above the national median), indicating steady absorption and a foundation for cash flow continuity.
Renter concentration is roughly one-quarter of housing units, signaling a smaller but dependable tenant base for multifamily. Median contract rents trend on the lower side for the metro, and the neighborhood’s rent-to-income ratio is favorable, which can aid lease retention though it may temper near-term pricing power.
Livability signals are mixed but serviceable for workforce housing. Grocery access ranks among the strongest locally (ranked 3rd of 29), while parks and childcare availability trend in the top quartile nationally. Restaurant and cafe density is limited, and overall amenities place near the lower third nationally—an operational consideration for tenant expectations and marketing. Average school ratings are among the best in the metro (ranked 1st of 29 and around the top quartile nationally), a potential draw for longer-term households.
Home values are relatively accessible in context, which can create some competition with ownership. For investors, this typically translates to stable occupancy with measured rent growth, emphasizing renewal management and resident experience over aggressive rate pushes. These dynamics align with practical, data-grounded commercial real estate analysis from WDSuite.
Comparable neighborhood crime metrics were not available in WDSuite for this location. Investors typically benchmark property-level security measures and local reporting trends against county and regional figures to assess trajectory and to calibrate operating practices (lighting, access control, and resident communication). Given the lack of a verified rank or percentile here, a conservative underwriting approach is prudent until third-party indices can be reviewed.
Regional employers within commuting range support a broad workforce tenant base, with proximity to energy, insurance, steel, healthcare services, and financial services providing diversified employment nodes relevant to leasing stability.
- Duke Energy — energy services (28.1 miles)
- Cincinnati Financial — insurance (30.2 miles) — HQ
- AK Steel Holding — steel manufacturing (30.3 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (31.5 miles)
- Prudential Financial — financial services (34.1 miles)
111 Village Dr S offers a 1974-vintage, 48-unit footprint in a top-quartile neighborhood (3rd of 29) where occupancy of 94.6% supports stable operations. The vintage suggests actionable value-add potential—targeted unit and system updates can enhance competitiveness versus older local stock while maintaining a favorable basis. Low median rents and a supportive rent-to-income profile point to retention strength, though they may limit outsized rent lifts without renovations.
Home values are comparatively accessible for the region, implying some competition with ownership; this typically places a premium on resident experience and renewal strategy to sustain occupancy. Amenities skew practical rather than lifestyle-driven (stronger in groceries, lighter in restaurants/cafes), aligning with workforce housing dynamics. According to CRE market data from WDSuite, these fundamentals indicate a demand profile geared toward steady leasing rather than rapid rate expansion.
- Occupancy near mid-90s and top-quartile neighborhood rank support cash flow stability.
- 1974 vintage presents clear value-add angles through interior and system upgrades.
- Favorable rent-to-income dynamics aid retention and renewal management.
- Practical amenity mix (strong groceries; limited dining/cafes) suits workforce positioning.
- Risks: smaller renter base, competition from ownership, and limited lifestyle amenities may cap rent growth without upgrades.