| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 41st | Fair |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 139 Fillmore Ave, Dover, OH, 44622, US |
| Region / Metro | Dover |
| Year of Construction | 1991 |
| Units | 40 |
| Transaction Date | 1990-09-24 |
| Transaction Price | $100,000 |
| Buyer | NEW SETON SQUARE DOVER II LIMITED PARTNE |
| Seller | --- |
139 Fillmore Ave, Dover OH — 40-Unit Multifamily
Renter concentration is strong in the surrounding neighborhood and rent-to-income levels suggest manageable affordability, according to WDSuite’s CRE market data. The location’s everyday retail access supports stable tenant demand without relying on destination amenities.
Located in Dover within the New Philadelphia–Dover, OH metro, the neighborhood holds an A- rating and ranks 7th out of 41 metro neighborhoods, which is competitive among New Philadelphia–Dover neighborhoods. Local occupancy is reported at 89.7%, indicating generally stable renter demand relative to the metro, based on CRE market data from WDSuite.
Everyday convenience is a strength: grocery and pharmacy access ranks near the top of the metro (both 3rd of 41), and the area’s restaurant density is similarly strong (3rd of 41). Cafés and parks are limited locally, so the amenity set skews practical rather than lifestyle-oriented—relevant for workforce housing strategies. Childcare availability also stands out in the metro context (2nd of 41), supporting family-oriented demand.
The property’s 1991 vintage is newer than the neighborhood’s average construction year of 1966, which can provide a competitive edge versus older stock. Investors should still plan for targeted system updates or common-area refreshes to keep positioning strong against renovated comparables.
Tenure patterns indicate depth in the renter base: renter-occupied units account for roughly half of neighborhood housing (51.0%; 4th of 41 in the metro and high nationally). This renter concentration supports leasing velocity and renewal potential for multifamily assets.
Within a 3-mile radius, recent trends show a slight population dip alongside growth in household counts, pointing to smaller household sizes and a modest expansion of the renter pool. Forward-looking projections for the same 3-mile area indicate increases in population, households, and median incomes, which would broaden the tenant base and support occupancy stability if realized.
Home values in the neighborhood are lower than many national markets, with a value-to-income profile that makes ownership relatively accessible. For multifamily investors, this can introduce some competition from entry-level ownership, but a low rent-to-income ratio around 0.13 suggests room for disciplined rent management while monitoring retention risk.
Neighborhood-level crime metrics are not available in WDSuite for this location, so investors should review city and county trend sources for additional context. When underwriting, consider standard measures such as visibility, lighting, access control, and resident screening to align with regional norms rather than block-level assumptions.
Regional employers within commuting distance—spanning insurance, food manufacturing, paper products, and industrial headquarters—support a diversified workforce renter base relevant to this neighborhood.
- Erie Insurance Group — insurance (23.4 miles)
- J.M. Smucker — food manufacturing (28.5 miles) — HQ
- International Paper Company — paper & packaging (31.9 miles)
- Goodyear Tire & Rubber — manufacturing (38.1 miles) — HQ
- FirstEnergy — utilities (39.8 miles) — HQ
This 40-unit 1991-vintage asset is positioned in a neighborhood that ranks 7th of 41 within the New Philadelphia–Dover metro, reflecting competitive fundamentals for workforce-oriented housing. Neighborhood occupancy near 90% and a renter-occupied share around half point to steady leasing dynamics. According to CRE market data from WDSuite, practical amenities (grocery, pharmacy, restaurants) are strengths locally, reinforcing day-to-day convenience that supports retention.
The building’s relatively newer vintage versus the area’s 1960s-average stock provides competitive positioning with scope for value-add via selective system upgrades or common-area enhancements. Within a 3-mile radius, household counts have been rising and projections show further growth in population and incomes, which, if realized, would expand the tenant base. Lower ownership costs in context can create some competition, but a conservative rent-to-income profile supports disciplined pricing while monitoring renewal risk.
- Competitive neighborhood rank (7 of 41) and stable occupancy support consistent leasing
- 1991 construction offers an edge versus older local stock with value-add potential
- Strong everyday amenities (grocery, pharmacy, restaurants) bolster retention
- 3-mile projections indicate growing households and incomes, expanding the renter pool
- Risks: ownership competition in a lower-cost market; limited parks/cafés require focus on property-level amenities