| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 37th | Fair |
| Amenities | 7th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 440 N Main St, Frankfort, OH, 45628, US |
| Region / Metro | Frankfort |
| Year of Construction | 1993 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
440 N Main St, Frankfort OH Multifamily Investment
Neighborhood occupancy is 89.4% and renter affordability is favorable with a rent-to-income ratio near 0.11, according to WDSuite’s CRE market data—supporting stable leasing conditions at the submarket level.
Frankfort’s rural setting offers a quieter living environment with limited retail and dining density, which is typical for this neighborhood type. Amenity coverage scores in the lower national percentiles, and parks, restaurants, and cafes are sparse; grocery access is present but not concentrated. For family renters, average school ratings around 2.0 (below national norms) may influence leasing decisions and retention strategies.
For investors, the area’s neighborhood occupancy of 89.4% indicates a baseline level of stabilized demand across nearby properties, while the share of renter-occupied housing units in the neighborhood (about one-third) suggests a defined, if niche, tenant base. Within a 3-mile radius, recent population growth has been modest, but projections indicate a larger renter pool ahead as the forecast shows more households and a higher renter-occupied share—signals that can support occupancy stability over the medium term.
Median contract rents in the neighborhood are on the lower side nationally, which, combined with the rent-to-income ratio near 0.11, points to relatively low affordability pressure for tenants. That dynamic can aid lease retention, though it may temper near-term pricing power compared with higher-cost metros. Median home values are also lower relative to national norms; in practice, this can introduce some competition from entry-level ownership, so positioning and amenities matter to sustain demand.
The property’s 1993 vintage is older than the neighborhood’s average construction year (2005). That age profile typically warrants targeted capital planning and offers value-add potential through interior updates and system modernization to remain competitive against newer stock.
Based on WDSuite’s data, overall crime levels benchmark near the national midpoint, while both property and violent offense rates trend in the safer half of neighborhoods nationwide (around the mid-60s percentiles). This suggests comparative safety versus many U.S. neighborhoods, although recent year-over-year increases in violent offenses warrant continued monitoring as part of risk management.
Investors should weigh these patterns alongside on-the-ground due diligence and operational controls (lighting, access, and resident screening) to maintain leasing stability.
Regional employment access is driven by corporate and logistics nodes within commuting range, supporting workforce renter demand and lease retention. Key nearby employers include Avnet Services, The Xerox Company, Avnet Services - LifeCycle Solutions, Staples Fulfillment Center, and Big Lots.
- Avnet Services — electronics distribution services (32.4 miles)
- The Xerox Company — business services (32.5 miles)
- Avnet Services - LifeCycle Solutions — electronics lifecycle solutions (33.6 miles)
- Staples Fulfillment Center — logistics/fulfillment (36.0 miles)
- Big Lots — retail corporate (38.1 miles) — HQ
This 36-unit, 1993-vintage asset competes in a rural neighborhood where occupancy across nearby properties is 89.4%, indicating a steady baseline of leasing activity. According to CRE market data from WDSuite, local rents sit on the lower end nationally and rent-to-income is near 0.11, supporting retention but likely moderating near-term pricing power. The property’s older vintage versus the neighborhood average (2005) points to practical value-add angles—interior refreshes and systems upgrades—to enhance competitiveness against newer stock.
Demand fundamentals are underpinned by a defined renter base: neighborhood renter-occupied share is roughly one-third, and within a 3-mile radius projections indicate a larger renter pool and more households over the next five years. Amenity density is limited and school ratings are below national norms, which should be factored into underwriting and positioning. Overall, the thesis centers on durable occupancy, operational execution, and targeted capital planning.
- Steady neighborhood occupancy supports baseline leasing stability
- Low rent-to-income improves retention, with measured rent growth expectations
- 1993 vintage offers value-add potential through unit and systems upgrades
- Forecasted growth in the 3-mile renter pool supports demand durability
- Risks: limited amenities and below-average school ratings may impact family renter appeal