| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 38th | Good |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2179 Anderson Station Rd, Chillicothe, OH, 45601, US |
| Region / Metro | Chillicothe |
| Year of Construction | 1981 |
| Units | 50 |
| Transaction Date | 2012-12-19 |
| Transaction Price | $1,459,000 |
| Buyer | OVERBROOK PARK MULTIFAMILY LLC |
| Seller | OVERBROOK PARK APARTMENTS LLC |
2179 Anderson Station Rd Chillicothe Multifamily Investment
According to WDSuite’s CRE market data, the surrounding neighborhood shows low‑90s occupancy and a renter concentration near two-fifths, pointing to steady tenant demand and manageable turnover risk for a well-run asset.
The property is situated in an Inner Suburb location within the Chillicothe, OH metro, where the neighborhood holds an A rating and ranks 4 out of 39 neighborhoods — competitive among Chillicothe neighborhoods. Neighborhood occupancy is 92.4%, with stability improving over the past five years, according to CRE market data from WDSuite. The share of housing units that are renter-occupied is 38.7% (79th percentile nationally), indicating a meaningful tenant base to support multifamily leasing.
Daily-needs access is a relative strength: grocery stores (ranked 4 of 39; 60th percentile nationally), pharmacies (3 of 39; 70th percentile), and restaurants (4 of 39; 64th percentile) are accessible for residents. Softer amenity categories include cafes, childcare, and parks (each ranked 39 of 39 in the metro), which may modestly limit lifestyle appeal compared with amenity-dense urban cores but typically aligns with workforce-oriented renter profiles.
Within a 3-mile radius, recent trends show modest population contraction alongside relatively stable household counts, and WDSuite’s data indicates households are projected to rise by 2028 even as population remains roughly flat. This combination suggests shifting household composition and supports a larger tenant base over time, which can bolster occupancy and leasing velocity for well-positioned units.
Rent levels remain accessible relative to income: the neighborhood’s median contract rent is in the lower national quartiles while the rent-to-income ratio is near the national mid-range, aiding retention and pricing flexibility. Median home values sit below many coastal markets and a mid-range value-to-income ratio implies homeownership is attainable for some households, creating some competition with rental options; however, accessible rents can sustain renter reliance on multifamily housing. The average building vintage in the neighborhood is 1993; with a 1981 construction year, this asset is older than nearby stock, which points to potential value‑add and capital planning opportunities to enhance competitiveness.
Safety indicators for the neighborhood are mixed and generally around metro norms. Based on WDSuite’s data, overall crime ranks 32 out of 39 neighborhoods in the Chillicothe metro, indicating room for improvement versus the region. Nationally, violent‑offense safety trends track slightly better than average (54th percentile), while property‑offense safety is closer to the national midpoint (46th percentile).
Recent directionality is constructive: estimated property offenses declined by about 9% year over year, and violent‑offense trends improved slightly. For investors, this suggests monitoring remains prudent, but safety conditions do not appear to be deteriorating at the neighborhood level.
The employment base within commuting range blends manufacturing, technology services, and Fortune 500 headquarters, supporting renter demand through diversified job drivers. The list below highlights nearby employers that can underpin steady leasing through commute convenience and workforce stability.
- General Mills — consumer foods (32.3 miles)
- Avnet Services — technology services (34.0 miles)
- The Xerox Company — business services (34.1 miles)
- Avnet Services - LifeCycle Solutions — technology services (35.4 miles)
- Big Lots — retail HQ & distribution (42.0 miles) — HQ
2179 Anderson Station Rd offers a 50‑unit multifamily footprint in an A‑rated neighborhood that ranks 4th of 39 in the Chillicothe metro, with neighborhood occupancy in the low‑90s and a renter‑occupied share near two‑fifths. Accessible rent levels relative to income support retention and a broad tenant base, while proximity to regional employers provides diversified demand. The 1981 vintage is older than the area’s early‑1990s average, suggesting clear value‑add and capital planning pathways to sharpen competitive positioning and drive NOI durability.
Based on CRE market data from WDSuite, daily‑needs access (groceries, pharmacies, restaurants) compares favorably within the metro, and safety trends are broadly stable with recent improvement in property‑offense directionality. Compact average unit sizes may align with cost‑conscious renters, supporting lease‑up and occupancy stability if operations and finishes meet market expectations.
- Competitive neighborhood (rank 4 of 39) with low‑90s occupancy supporting stable leasing
- Accessible rents versus incomes bolster tenant retention and pricing flexibility
- 1981 vintage presents value‑add and CapEx levers to enhance competitiveness
- Commutable access to diversified employers underpins demand durability
- Risk: amenity depth (cafes/parks) lags metro leaders; vigilant safety monitoring is prudent