| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 63rd | Good |
| Amenities | 34th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1350 N Locust St, Ottawa, OH, 45875, US |
| Region / Metro | Ottawa |
| Year of Construction | 2002 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1350 N Locust St, Ottawa OH — 43-Unit 2002 Multifamily
Neighborhood-level occupancy and safety trends, according to WDSuite’s CRE market data, point to steady performance for well-managed assets in Ottawa, with renter demand supported by schools and day-to-day conveniences.
This Ottawa neighborhood is rural with limited lifestyle density, but it maintains practical anchors like grocery and pharmacy access. Amenities track below national norms overall, yet daily needs are serviceable, and dining options are present at a lighter scale. The neighborhood ranks above the metro median on several fundamentals and is rated A (rank 2 of 23), signaling competitive positioning within Putnam County neighborhoods.
For multifamily investors, occupancy in the neighborhood sits at 92.8%, and the area is in the upper half of neighborhoods nationwide for occupancy. School quality is a relative strength: average school ratings near 4.5 out of 5 place the area in the top quartile nationally, a tailwind for family-oriented renter retention.
Tenure patterns indicate an ownership-leaning market with about 17.7% of housing units renter-occupied. This implies a smaller but stable renter pool, where professionally managed properties can capture demand with limited direct multifamily competition. Within a 3-mile radius, median household income trends in the upper half nationally, and a low rent-to-income profile suggests manageable affordability pressure — supportive for retention and measured rent optimization.
With a neighborhood average construction year around 1987, this property’s 2002 vintage is newer than much of the surrounding stock. That positioning can enhance competitiveness versus older assets, though two-decade systems planning and selective modernization should be considered to sustain leasing and operational performance.
Home values land around mid-range for the region and below the national midpoint, with a value-to-income profile indicating that ownership is relatively accessible. For investors, that can introduce some competition from entry-level ownership, but it also supports stable household balance sheets and potentially steadier leasing outcomes for quality rentals.
Safety is a relative advantage here. Among 23 neighborhoods in the metro, this area ranks near the top for lower crime, and national comparisons place it in the top quartile for safety. Recent year-over-year estimates also indicate declines in both property and violent offenses, reinforcing a constructive trend for tenant retention and long-term holding strategies.
Regional employers within commuting range help anchor demand, with roles spanning energy, manufacturing, and packaging. The following nearby corporate offices shape the employment base relevant to renters here: Marathon Petroleum, Owens-Illinois, and Dana.
- Marathon Petroleum — energy refining corporate offices (20.6 miles) — HQ
- Owens-Illinois — glass packaging corporate offices (39.8 miles) — HQ
- Dana Holding — auto parts corporate offices (41.0 miles) — HQ
- Dana — auto parts corporate offices (41.0 miles)
The investment case centers on durable neighborhood fundamentals, a relatively newer 2002 vintage, and stable occupancy patterns. According to CRE market data from WDSuite, neighborhood occupancy is 92.8% and sits in the upper half nationally, which supports income stability for well-operated assets. School quality ranks among the strongest nationally and can aid retention for family renters, while the ownership-leaning tenure signals limited multifamily competition for a well-positioned 43-unit property.
At the same time, ownership remains relatively accessible in this market, suggesting measured pricing strategy is prudent. The rent-to-income profile indicates low affordability pressure, creating room for operational improvements and gradual rent optimization, particularly if paired with selective updates typical for a two-decade-old building to maintain competitiveness against older stock in the area.
- 2002 vintage offers competitive positioning versus older neighborhood stock, with targeted modernization potential.
- Neighborhood occupancy around 92.8% supports income stability and consistent leasing.
- Strong school ratings aid family-renter retention and underpin long-term demand.
- Low rent-to-income profile supports measured rent optimization and lease management.
- Risks: smaller renter-occupied share and accessible ownership alternatives may moderate rent growth and require careful underwriting.