| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 36th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1920 N Bridge St, Chillicothe, OH, 45601, US |
| Region / Metro | Chillicothe |
| Year of Construction | 2000 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1920 N Bridge St Chillicothe Multifamily Opportunity
Renter demand is supported by strong neighborhood amenities and a sizable renter-occupied base, while occupancy at the neighborhood level has been softer, according to WDSuite’s CRE market data.
Located on N Bridge St in suburban Chillicothe, the property sits in a neighborhood rated A+ (ranked 1 out of 39 metro neighborhoods), indicating competitive positioning within the local market. Amenity access is a relative strength: grocery, restaurant, and cafe density rank near the top among metro peers and fall in the upper half of neighborhoods nationally, which helps with day-to-day convenience and leasing appeal.
Multifamily fundamentals at the neighborhood level show mixed signals. Neighborhood occupancy is below national norms and has trended lower over the last five years; however, renter-occupied housing accounts for roughly half of units locally, indicating meaningful depth in the tenant base. Median asking rents in the neighborhood have moved upward over the past five years, while the rent-to-income ratio points to manageable, but not negligible, affordability pressure—useful context for pricing and renewal strategies.
The building’s 2000 construction is newer than the neighborhood’s average vintage from the early 1970s, suggesting comparatively modern layouts and systems. For investors, that can support competitive positioning versus older stock, while still warranting capital planning for mid-life system updates or selective renovations to drive rent premiums.
Within a 3-mile radius, demographics show recent population softness but a modest projected rebound alongside a notable increase in household count by the 2028 horizon. Smaller average household sizes and the expected expansion in households can translate into a larger renter pool over time, supporting occupancy stability if product and pricing are aligned with local incomes. Lower home values in the area mean ownership is relatively accessible, which can create competition; however, diversified amenities and commute convenience can sustain renter reliance on multifamily housing.
Safety trends are mixed. Compared with neighborhoods nationwide, this area sits below the median for safety, aligning with a lower national percentile. Within the Chillicothe metro (39 neighborhoods), it performs below metro average on crime measures. That said, WDSuite’s data indicates year-over-year decreases in both violent and property offense rates, a constructive trend investors can monitor for durability.
Practical takeaway for underwriting: position expectations conservatively relative to metro and national comparables, emphasize on-site security and lighting in CapEx where appropriate, and leverage improving trendlines as part of the leasing narrative without assuming rapid convergence to higher-performing peer areas.
Regional employment access includes manufacturing, technology services, and major corporate headquarters within commuting distance, supporting workforce housing demand and potential lease retention for residents employed along the Columbus corridor: General Mills, Avnet Services, The Xerox Company, Avnet Services – LifeCycle Solutions, and American Electric Power.
- General Mills — manufacturing (30.3 miles)
- Avnet Services — technology services (31.9 miles)
- The Xerox Company — business services (32.0 miles)
- Avnet Services - LifeCycle Solutions — technology services (33.2 miles)
- American Electric Power — utilities (40.7 miles) — HQ
This 84-unit, 2000-built asset benefits from strong neighborhood convenience and a substantial renter-occupied share in the immediate area, which supports demand depth. While neighborhood occupancy has been softer and trended down over the past five years, rents have generally moved upward, suggesting room for disciplined revenue management if product positioning matches local income bands and emphasizes livability advantages.
Relative to older local stock, the property’s vintage offers competitive appeal, with targeted modernization and common-area upgrades presenting potential value-add pathways. Within a 3-mile radius, households are expected to increase through the 2028 horizon, indicating a larger tenant base over time; according to CRE market data from WDSuite, this aligns with neighborhood-level renter concentration that can support leasing, even as ownership remains accessible and may create competition at certain price points.
- 2000 construction competes well against older neighborhood stock; plan for system refresh and selective renovations to capture premiums.
- Sizable renter-occupied share locally supports demand depth and potential occupancy stability.
- Amenity-rich corridor (groceries, dining, daily needs) enhances leasing appeal and renewal prospects.
- Household growth within 3 miles points to a larger renter pool over the medium term.
- Risks: below-median safety metrics and softer neighborhood occupancy; underwrite conservatively and prioritize security and product differentiation.