| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 64th | Best |
| Amenities | 7th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 988 Sulphur Spring Rd, Chillicothe, OH, 45601, US |
| Region / Metro | Chillicothe |
| Year of Construction | 2005 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
988 Sulphur Spring Rd Chillicothe 30-Unit Multifamily
2005 construction and smaller-format units position this asset competitively against older local stock while serving cost-conscious renter demand. According to WDSuite’s CRE market data, neighborhood-level occupancy and renter concentration indicate a stable but value-oriented tenant base rather than a premium rent story.
Chillicothe’s rural-edge setting offers everyday connectivity without dense urban competition. The property’s 2005 vintage is newer than the neighborhood’s average construction year (1983), which supports relative competitiveness versus older assets, though investors should still plan for mid-life systems updates and targeted renovations to sustain performance.
Within a 3-mile radius, demographics show population growth over the last five years and an increase in households, expanding the local renter pool. Forecasts point to continued population and household gains, with household sizes trending smaller—factors that can support occupancy stability for compact units and steady leasing activity.
Neighborhood tenure patterns suggest moderate renter depth: the neighborhood shows a renter-occupied share near one-third of housing units, while the 3-mile area trends closer to roughly two-fifths renter-occupied. For multifamily, this indicates a workable base of demand with a mix of workforce and value-focused renters.
Schools test above the metro median, with the neighborhood’s average school rating ranked 2 out of 39 metro neighborhoods and landing in the upper half nationally. Amenity density is limited for cafes, groceries, and parks, consistent with a rural context; investors should underwrite demand drivers from employment access and attainable pricing rather than walkable retail.
Home values in the neighborhood are elevated for the area but sit below high-cost coastal markets. In practice, this more accessible ownership landscape can introduce competition for renters at certain price points, putting a premium on operational execution and value positioning to sustain retention and pricing power.
Safety indicators are mixed but generally favorable in broader context. The neighborhood’s overall crime profile sits above the midpoint nationally (around the 60th–70th percentiles for key categories), suggesting comparatively safer conditions than many U.S. neighborhoods. Within the metro, however, the neighborhood ranks 26 out of 39 for crime, indicating it is not among the safest local areas and warranting routine, property-level safety practices.
Recent trends are nuanced: property offenses have declined year over year, while violent offenses show a recent uptick. For underwriting, this argues for standard security measures, good lighting, and resident engagement to support retention without assuming outsized risk premiums.
Regional employment centers within commuting distance support renter demand through diversified corporate offices. Key nodes include Avnet Services, The Xerox Company, Avnet Services – LifeCycle Solutions, General Mills, and American Electric Power.
- Avnet Services — corporate offices (28.7 miles)
- The Xerox Company — corporate offices (28.8 miles)
- Avnet Services - LifeCycle Solutions — corporate offices (30.0 miles)
- General Mills — corporate offices (30.9 miles)
- American Electric Power — electric utility (37.7 miles) — HQ
The 30-unit property at 988 Sulphur Spring Rd was built in 2005, offering a newer profile than much of the neighborhood’s 1980s-era stock. Smaller average unit sizes support an attainable positioning that aligns with value-focused renter demand. Based on CRE market data from WDSuite, neighborhood occupancy sits in the lower half nationally, so performance should be driven by affordability, careful lease management, and consistent unit turns rather than outsized rent growth.
Demand is reinforced by 3-mile population and household growth and forecasts for continued renter pool expansion, with smaller household sizes favoring compact formats. The local ownership market is comparatively accessible, which can introduce competition for some renter cohorts; targeted upgrades, strong service delivery, and disciplined pricing can help sustain retention and stabilize cash flow.
- 2005 vintage versus older neighborhood stock supports competitive positioning with manageable mid-life capex
- Compact units align with value-oriented renters, aiding lease-up and occupancy durability
- 3-mile population and household growth expand the tenant base and support steady demand
- Regional employers within commuting range provide diversified income sources for residents
- Risks: lower-half neighborhood occupancy nationally and accessible ownership options require disciplined pricing and resident retention focus