| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 52nd | Good |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 259 Northwest St, Bellevue, OH, 44811, US |
| Region / Metro | Bellevue |
| Year of Construction | 1984 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
259 Northwest St, Bellevue OH — Stabilized 40-Unit Multifamily
Neighborhood occupancy is strong and renter affordability is favorable, supporting retention and steady cash flow, according to WDSuite’s CRE market data. The asset’s suburban setting offers day-to-day convenience with grocery and pharmacy access while keeping operating risk profile measured.
Bellevue’s neighborhood fundamentals lean stable for workforce rentals. Neighborhood occupancy is high (measured for the neighborhood, not the property) and sits in the upper tier nationally, supporting lease continuity and lower downtime. Renter-occupied share in the neighborhood is roughly one-third of housing units, indicating a consistent but not saturated tenant base that can underpin demand for a 40-unit asset without relying on transient turnover.
Daily-needs access is a relative strength: grocery and pharmacy density rank in the top quartile among 31 Fremont metro neighborhoods, and restaurants also place competitively. By contrast, cafes and park space are limited, consistent with a suburban profile that prioritizes essentials over lifestyle retail. Average school ratings land above national mid-point, which can help mid- to longer-term stability for family renters.
At a 3-mile radius, population has inched higher over the last five years and households expanded faster, pointing to smaller household sizes and a gradual renter pool expansion. Forward-looking projections call for additional increases in households by 2028, which should translate into a larger tenant base and support occupancy stability for well-run multifamily.
Home values are comparatively accessible versus national norms, which can introduce some competition from ownership. However, low rent-to-income levels in the neighborhood imply manageable affordability pressure for renters, aiding retention and measured pricing power rather than outsized rent spikes. The property’s 1984 vintage is newer than the neighborhood’s older housing stock (average year 1953), suggesting competitive positioning versus legacy assets, while still warranting capital planning for aging systems or selective value-add.
Safety indicators benchmark near or better than national medians. Neighborhood violent-offense measures track in a higher national safety percentile, while property-offense measures sit modestly above the national mid-point. Recent year-over-year movement shows some uptick in violent metrics, so investors should underwrite with routine monitoring and standard security/lighting upkeep rather than assume a straight-line trend.
Overall, the area compares as broadly in-line to slightly safer than national norms for similar suburban neighborhoods, without signals that would materially disrupt leasing or retention based on the latest WDSuite data.
Regional employers provide diversified job nodes within commuting distance that can help sustain renter demand. The list below highlights a major headquarters presence relevant to the broader labor shed.
- Owens Corning — building materials HQ (44.1 miles) — HQ
This 40-unit property at 259 Northwest St benefits from stable neighborhood occupancy, accessible daily-needs retail, and renter affordability that supports retention. According to CRE market data from WDSuite, the neighborhood’s occupancy stands in the upper tier nationally, while rent-to-income levels are low, indicating limited affordability pressure and consistent cash flow potential. The 1984 vintage is newer than much of the surrounding housing stock, positioning the asset competitively versus older properties, though investors should plan for system updates and targeted renovations to capture value-add upside.
Within a 3-mile radius, modest population growth alongside faster household gains points to a gradually expanding tenant base and smaller household sizes—both constructive for multifamily demand. Ownership remains relatively accessible in this market, which may temper pricing power, but the combination of stable demand, essential retail proximity, and a manageable cost profile supports a durable, income-oriented thesis with selective repositioning potential.
- High neighborhood occupancy supports steady leasing and reduced downtime
- Low rent-to-income signals retention strength and measured pricing power
- 1984 vintage offers competitive edge versus older stock with value-add potential
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: relatively accessible ownership can compete with rentals; monitor safety trends and budget for aging systems