| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 46th | Best |
| Amenities | 30th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 596 W 5th St, Chillicothe, OH, 45601, US |
| Region / Metro | Chillicothe |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 2006-10-31 |
| Transaction Price | $2,950,000 |
| Buyer | NAW INVESTMENTS LLC |
| Seller | WESTERN VIEW APARTMENTS INC |
596 W 5th St Chillicothe Multifamily Investment
Neighborhood occupancy is in the low 90s and has trended upward over the past five years, according to WDSuite’s CRE market data, pointing to steady renter demand. Position within an inner-suburb setting supports workforce housing dynamics and stable leasing.
Located in an inner-suburb pocket of Chillicothe, the area rates well locally (A neighborhood rating) and is competitive among Chillicothe neighborhoods for everyday needs, ranking 5 out of 39 on amenity access. Nationally, amenity density is lighter, but proximity to childcare and pharmacies stands out, which can support resident convenience and retention for multifamily assets.
Renter demand is reinforced by a majority of housing units being renter-occupied at the neighborhood level, indicating a deeper tenant base for small and mid-size communities. Neighborhood occupancy is solid and near the metro middle while tracking above national midpoints, supporting income stability for well-managed properties.
Within a 3-mile radius, demographics show households have held roughly flat recently with smaller average household sizes, which can favor apartment demand. Forward-looking projections point to population growth and a notable increase in households over the next five years, suggesting an expanding renter pool and support for occupancy and lease-up velocity.
Ownership remains a higher-cost path relative to local incomes (value-to-income measures are elevated versus national norms), which tends to sustain reliance on rental housing and can aid pricing power for competitively positioned units. Median contract rents in the area are below national levels and have increased over the past five years, balancing affordability pressure with room for continued rent performance for properties offering quality and convenience.
Safety indicators are mixed but generally favorable in a broader context. The neighborhood sits in higher national safety percentiles (around the upper quartile nationwide for both overall and violent measures), indicating comparatively safer conditions versus many U.S. neighborhoods. Recent trends show meaningful declines in both violent and property incidents year over year, which supports resident retention and leasing stability.
Within the Chillicothe metro (39 neighborhoods total), patterns vary by offense type: violent incidents rank closer to the less favorable side (around 12 of 39), while property incidents rank better than most peers (around 31 of 39). Investors should view safety as an improving factor nationally with some intra-metro variability, and underwrite to property-level security, lighting, and management practices accordingly.
Regional employment access is anchored by manufacturing, technology services, and retail headquarters within commuting range, supporting workforce housing demand and lease stability for nearby multifamily assets. Notable employers include General Mills, Avnet Services, The Xerox Company, Avnet Services – LifeCycle Solutions, and Big Lots headquarters.
- General Mills — manufacturing (29.5 miles)
- Avnet Services — technology services (35.5 miles)
- The Xerox Company — technology services (35.6 miles)
- Avnet Services - LifeCycle Solutions — technology services (36.8 miles)
- Big Lots — retail HQ and corporate (44.0 miles) — HQ
596 W 5th St is a 36-unit 1972 vintage community positioned to capture stable renter demand in an inner-suburban Chillicothe location. Neighborhood occupancy trends are steady and have improved over time, with a majority of nearby housing units renter-occupied—both supportive of multifamily income durability. Median rents remain below national levels, helping sustain leasing while leaving room for renovations to translate into measured rent premiums. Based on CRE market data from WDSuite, the area’s safety profile compares favorably at the national level, and year-over-year offense reductions further support retention.
The 1972 construction offers potential value-add through system upgrades and unit modernization, while still competing well against older local stock. Within a 3-mile radius, forward projections show population growth and a sizable increase in households, implying a larger renter pool and support for occupancy stability. Ownership costs remain relatively elevated versus local incomes, which tends to reinforce reliance on rental housing rather than direct competition from entry-level ownership options.
- Stable neighborhood occupancy with improving trend supports income consistency
- Majority renter-occupied housing nearby indicates deep tenant demand for multifamily
- 1972 vintage presents value-add potential via modernization and system upgrades
- Below-national rent levels and favorable national safety standing support retention
- Risk: lighter national amenity density and mixed intra-metro safety require active management