| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 25th | Poor |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 45 Vine St, Leipsic, OH, 45856, US |
| Region / Metro | Leipsic |
| Year of Construction | 1978 |
| Units | 32 |
| Transaction Date | 2023-07-25 |
| Transaction Price | $135,500 |
| Buyer | WEIS ERIC W |
| Seller | WEIS WILLIAM R |
45 Vine St, Leipsic OH — 32-Unit Multifamily
Neighborhood renter concentration and relatively manageable rent-to-income levels point to a stable tenant base, according to WDSuite s CRE market data, while the 1978 vintage suggests potential value-add through targeted upgrades.
Leipsic is a rural neighborhood setting within Putnam County. Amenity access ranks 10th among 23 metro neighborhoods (above the metro median), though nationally it falls in a lower percentile, so residents rely more on local conveniences than on dense retail clusters. Parks access ranks 1st of 23 and sits in a higher national percentile, giving outdoor space a relative advantage despite limited cafes and grocery/pharmacy density nearby.
Multifamily demand signals are mixed. The neighborhood occupancy rate is 86.0% and has edged lower over the past five years, the lowest rank among 23 metro neighborhoods, indicating that active leasing and renewal management matter. At the same time, the share of housing units that are renter-occupied is 34.4% (ranked 1st of 23, a strong national percentile), which implies a deeper local renter pool than many nearby areas. Median contract rent remains comparatively modest and the rent-to-income ratio of 0.13 suggests lower affordability pressure, which can support retention.
Within a 3-mile radius, population has contracted in recent years while average household size has ticked up, signaling demographic shifts that could concentrate demand among certain segments. Housing units per person have decreased slightly, which can still support occupancy stability for well-positioned assets. Home values are comparatively low in the national context, reflecting a more accessible ownership market; for investors, that can introduce competition with entry-level ownership, but it also underscores the role of rentals as flexible, lower up-front housing options.
Construction across the neighborhood skews newer than this property s 1978 vintage (average year 1995, competitive nationally). For investors, the older vintage presents a straightforward playbook: plan for capital improvements to keep pace with newer stock and unlock rent premiums where renovations elevate functionality and durability. These dynamics, combined with measured pricing and a renter base that is above the metro median, shape the commercial real estate analysis for this submarket.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location, so no definitive comparison to metro peers can be made. Investors typically contextualize risk using broader regional reporting and on-the-ground diligence rather than block-level conclusions.
Proximity to regional employers supports renter demand through commuter access to energy, manufacturing, and building materials offices noted below.
- Marathon Petroleum energy refining (17.8 miles) HQ
- Owens-Illinois glass packaging (34.2 miles) HQ
- Dana Holding auto parts (35.5 miles) HQ
- Dana auto components (35.5 miles)
- Owens Corning building materials (44.2 miles) HQ
45 Vine St offers a 32-unit footprint in a rural Ohio neighborhood where renter-occupied share ranks highest among 23 metro neighborhoods, providing depth to the tenant base even as overall neighborhood occupancy trends have softened. Median rents and a rent-to-income ratio near 0.13 point to relatively manageable monthly burdens that can aid retention and stabilize collections, according to CRE market data from WDSuite.
Built in 1978, the asset is older than the neighborhood s average vintage (1995). That gap creates a clear value-add angle: targeted systems upgrades and interior renovations can sharpen competitiveness against newer stock while remaining mindful of pricing relative to local incomes. Demographic shifts within a 3-mile radius and a more accessible ownership market are watch items, suggesting the need for disciplined leasing, resident experience, and cost control to maintain occupancy and cash flow.
- Renter-occupied share leads the metro cohort, supporting a deeper tenant base.
- Manageable rent-to-income levels support renewal rates and payment performance.
- 1978 vintage offers value-add potential via targeted renovations and systems work.
- Regional employers within commuting distance help underpin workforce housing demand.
- Risks: softer neighborhood occupancy trend, population contraction within 3 miles, and competition from accessible ownership options.