| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 38th | Good |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1911 Western Ave, Chillicothe, OH, 45601, US |
| Region / Metro | Chillicothe |
| Year of Construction | 1980 |
| Units | 83 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1911 Western Ave, Chillicothe OH Multifamily Investment
Neighborhood occupancy has held in the low-90s with a renter-occupied housing share in the top quartile locally, supporting depth of tenant demand according to WDSuite’s CRE market data.
This Inner Suburb neighborhood ranks 4th out of 39 metro neighborhoods with an overall A rating, signaling balanced fundamentals for workforce-oriented multifamily. Neighborhood occupancy is 92.4% and has inched higher over five years, indicating steady leasing conditions rather than boom-and-bust swings.
Daily-needs access is a relative strength: grocery and pharmacy density rank 4th and 3rd of 39 locally, and both sit above the national median (60th–70th percentiles). Dining options are also competitive (4th of 39; ~64th percentile nationally). By contrast, parks, cafes, and childcare are sparse in this immediate area, which may modestly affect lifestyle appeal but typically has limited impact on workforce housing absorption at this price point.
Median contract rents in the neighborhood are on the lower end of the metro (10th of 39), and the rent-to-income ratio sits around the national mid-to-upper range, which can support retention while allowing measured rent management. Median home values are moderate for the region, suggesting ownership is comparatively accessible; investors should account for some competition from entry-level ownership when calibrating pricing power.
The property’s 1980 vintage is older than the neighborhood’s average construction year (1993). Investors should plan for capital programs that refresh interiors and building systems to sustain competitiveness against newer local stock and to capture renovation-driven upside where feasible.
Tenure data point to a meaningful renter base: the neighborhood’s share of renter-occupied housing units is in the top quartile among 39 metro neighborhoods, supporting a larger in-place audience for multifamily operators. Within a 3-mile radius, households have grown despite population contraction, indicating smaller household sizes and a gradual shift that can expand the renter pool and support occupancy stability.
Safety indicators are mixed in context. Compared with 39 metro neighborhoods, this area sits closer to the higher-crime end of the spectrum (ranked 32nd), yet national positioning is nearer the middle of the pack (around the 50th–54th percentiles). Recent WDSuite data show year-over-year declines in both property and violent offense rates, a modestly improving trend that investors can monitor alongside local leasing performance.
Proximity to a diversified employment base supports renter demand and commute convenience, including operations from General Mills, Avnet Services, The Xerox Company, Avnet Services – LifeCycle Solutions, and Big Lots.
- General Mills — food manufacturing (31.3 miles)
- Avnet Services — technology services (34.5 miles)
- The Xerox Company — business services (34.7 miles)
- Avnet Services - LifeCycle Solutions — technology services (35.9 miles)
- Big Lots — retail HQ/distribution (42.7 miles) — HQ
1911 Western Ave offers an 83-unit, 1980-vintage footprint in a metro neighborhood rated A (4th of 39), where occupancy has remained stable in the low-90s and renter-occupied housing share is among the highest locally. Lower relative rents and moderate ownership costs suggest steady demand from value-oriented renters, with room for disciplined rent management rather than outsized pushes. Based on CRE market data from WDSuite, amenity access favors daily needs (grocery, pharmacy, restaurants) while parks and cafes are limited—factors to weigh when positioning the asset.
Given its older vintage versus the neighborhood average (1993), the asset presents value-add potential through targeted renovations and systems upgrades to strengthen competitive standing. Within a 3-mile radius, households are expanding even as population has softened historically, implying smaller household sizes and a broader renter pool over time; forward-looking projections indicate additional household growth that can support occupancy and leasing stability.
- Occupancy stability in a top-ranked metro neighborhood supports consistent leasing
- Lower relative rents and daily-needs amenities back renter demand and retention
- 1980 vintage offers clear value-add and systems modernization opportunities
- 3-mile household growth and higher renter concentration deepen the tenant base
- Risks: older plant capex, limited park/cafe amenities, and safety perception versus metro peers