| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 51st | Best |
| Amenities | 27th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 547 Plyleys Ln, Chillicothe, OH, 45601, US |
| Region / Metro | Chillicothe |
| Year of Construction | 1976 |
| Units | 68 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
547 Plyleys Ln, Chillicothe OH Multifamily Opportunity
Neighborhood occupancy is strong and has held near the top quartile nationally, according to WDSuite’s CRE market data, supporting stable operations for a 68-unit asset in a workforce location. These metrics reflect neighborhood conditions rather than the property and point to durable renter demand despite rural amenity depth.
The immediate neighborhood in Chillicothe is rated A+ and ranks 2 out of 39 metro neighborhoods, placing it in the top quartile locally. While the area is classified as Rural, grocery and pharmacy access test competitive for the metro, whereas parks and cafes are sparse. This mix suits workforce housing but suggests tenants may rely on broader trade areas for leisure and services.
For investors, the occupancy rate measured at the neighborhood level is high and sits in the top quartile nationally, which can help underpin leasing stability and reduce downtime. Median contract rents in the 3-mile radius are modest, and the rent-to-income profile indicates limited affordability pressure, which can support retention and measured pricing power when managed carefully.
Vintage matters here: the property was built in 1976, older than the neighborhood’s average construction year (1988). That typically implies near- to medium-term capital planning for systems and common areas, alongside potential value-add via interior renovations to compete effectively against newer stock.
Demographic statistics aggregated within a 3-mile radius show a recent period of population softness but a forward outlook that points to population growth and a notable increase in households by 2028. A larger household base and a projected rise in the renter-occupied share would expand the tenant pool and support occupancy. Median home values in the neighborhood context are comparatively accessible for the region, which can create some competition with ownership, but they also help sustain multifamily demand among households prioritizing flexibility.
Safety indicators are mixed when viewed against both metro and national benchmarks. The neighborhood ranks 39th of 39 metro neighborhoods for crime, signaling conditions below the metro median, while national positioning sits around the middle of the pack for violent offenses and slightly below median for property offenses. Recent trends indicate an uptick in violent incidents year over year, so underwriting should incorporate prudent security and operating assumptions. These data points reflect neighborhood-level trends, not property-specific conditions.
Regional employers within commuting range provide a diversified employment base that can support renter demand, including consumer goods, IT services, document solutions, discount retail, and an electric utility. The organizations below reflect the primary drivers relevant to this area’s workforce housing dynamic.
- General Mills — consumer foods manufacturing (29.5 miles)
- Avnet Services — IT services (35.9 miles)
- The Xerox Company — document solutions (36.1 miles)
- Avnet Services - LifeCycle Solutions — supply chain services (37.3 miles)
- Big Lots — discount retail (44.5 miles) — HQ
- American Electric Power — electric utility (44.6 miles) — HQ
This 68‑unit, 1976-vintage asset sits in a neighborhood that ranks near the top locally with high occupancy, supporting stable collections and limited downtime when operations are well-managed. According to CRE market data from WDSuite, neighborhood occupancy trends are strong versus national benchmarks, while 3-mile rent levels remain modest—an affordability profile that can aid tenant retention and measured rent growth. Given the older vintage relative to the area’s average, interior upgrades and system modernization offer a straightforward value‑add path to enhance competitiveness.
Looking ahead, 3-mile demographic projections point to population growth and a substantial increase in households by 2028, which would expand the renter pool and support leasing. Home values in the local context are relatively accessible, suggesting some competition with ownership; however, that environment can still reinforce steady multifamily demand among households prioritizing rental flexibility. Key underwriting considerations include rural amenity depth and neighborhood safety positioning, balanced by stable occupancy fundamentals and regional employer access.
- High neighborhood occupancy supports leasing stability and collections
- Value‑add upside from 1976 vintage through unit and systems upgrades
- Modest rents and manageable rent-to-income profile support retention
- 3-mile outlook shows population and household growth, expanding tenant base
- Risks: rural amenity depth and below-metro safety positioning warrant conservative underwriting