| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 38th | Good |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1957 Western Ave, Chillicothe, OH, 45601, US |
| Region / Metro | Chillicothe |
| Year of Construction | 1998 |
| Units | 72 |
| Transaction Date | 2014-12-23 |
| Transaction Price | $1,080,400 |
| Buyer | SCIOTO WOODS APARTMENTS LLC |
| Seller | SCIOTO WOOD LIMITED PARTNERSHIP |
1957 Western Ave, Chillicothe OH Multifamily Investment
Neighborhood renter concentration and mid-range occupancy point to steady leasing conditions, according to WDSuite s CRE market data. Positioned for durable cash flow in an inner-suburban setting with service amenities nearby.
The property sits in an Inner Suburb of Chillicothe rated A and ranked 4 out of 39 metro neighborhoods, indicating strong local fundamentals relative to the metro. Neighborhood occupancy trends land around the national mid-range and have inched higher over the past five years, supporting stable operations rather than volatile lease-ups.
Livability is anchored by convenient daily needs: grocery access ranks 4 of 39 and pharmacies 3 of 39 in the metro, while restaurants rank 4 of 39. Lighter coverage for parks, cafes, and childcare (each near the bottom of the 39-neighborhood metro set) suggests fewer discretionary amenities, but the essentials for residents are close by and help with day-to-day convenience.
Vintage 1998 is slightly newer than the area s average construction year (1993). This positioning can be competitive versus older stock, though investors should plan for targeted modernization and system updates typical of 1990s assets.
Within a 3-mile radius, households have increased even as population trended down in recent years, and forecasts point to additional household growth ahead. This pattern often reflects smaller household sizes and can translate into a broader tenant base for multifamily. Neighborhood renter concentration is 38.7% (ranked 4 of 39; high nationally), indicating a sizable pool of renter-occupied units that supports demand depth. Median contract rents in the neighborhood sit on the lower side within the metro and nationally, while the rent-to-income profile is around the national mid-range 0 context that can aid retention and reduce turnover risk.
Ownership costs, as reflected in value-to-income metrics, sit above national mid-point levels, which can sustain reliance on rentals and reinforce pricing power at attainable rent tiers. Combined with mid-50s national percentile occupancy, these dynamics point to durable renter demand and manageable lease management.
Safety indicators for the neighborhood are mixed. Overall crime performance sits near the national middle, with recent year-over-year trends showing modest improvement. Within the metro, the neighborhood ranks 32 out of 39 on crime, placing it in the lower tier locally, while national violent and property offense measures hover around mid-percentiles. For investors, this argues for standard security, lighting, and property management practices to support resident comfort and retention.
The broader labor shed includes regional corporate offices within commuting distance, supporting renter demand tied to steady administrative, logistics, and headquarters roles. Notable nearby employers include General Mills, Avnet Services, The Xerox Company, Big Lots, American Electric Power, Nationwide, and a Staples fulfillment operation.
- General Mills consumer packaged goods offices (31.3 miles)
- Avnet Services technology distribution services (34.5 miles)
- The Xerox Company business services offices (34.7 miles)
- Avnet Services - LifeCycle Solutions technology lifecycle services (35.9 miles)
- Big Lots retail corporate (42.7 miles) HQ
- Nationwide insurance (43.2 miles) HQ
- Staples Fulfillment Center distribution (43.2 miles)
- American Electric Power utilities (43.0 miles) HQ
A 72-unit, 1998-vintage asset in an A-rated Inner Suburb of Chillicothe offers a mix of attainable rents and a sizable renter base. Neighborhood occupancy trends sit around the national mid-range with incremental gains over five years, while value-to-income conditions suggest a high-cost ownership context relative to incomes factors that typically sustain multifamily demand and support retention. Essentials-oriented amenities (grocery, pharmacy, restaurants) rank among the metro s stronger concentrations, balancing lighter discretionary options.
Households within a 3-mile radius have grown and are projected to expand further, indicating a larger tenant base even as household sizes trend smaller. Based on CRE market data from WDSuite, the submarket s renter concentration ranks near the top of the metro, pointing to depth in renter-occupied units. Given 1990s construction, investors should plan for selective modernization to remain competitive versus older stock while managing standard operational risks.
- Inner-suburban A-rated location (rank 4 of 39) with stable, mid-range occupancy
- Large renter base (high metro ranking) supports lease-up and renewal depth
- Essentials-focused amenity access (grocery/pharmacy/restaurants) aids day-to-day livability
- 1998 vintage offers competitive positioning vs. older stock with targeted upgrade upside
- Risks: metro crime ranking (32 of 39), thinner discretionary amenities, and small-metro employer concentration