| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 69th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 719 Sterling Ave, Dover, OH, 44622, US |
| Region / Metro | Dover |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 1988-11-28 |
| Transaction Price | $265,000 |
| Buyer | BAKER MICHAEL R |
| Seller | LEEPER THOMAS J |
719 Sterling Ave, Dover OH Multifamily Investment
Neighborhood occupancy is at the top of the metro, indicating stable renter demand near this 20-unit asset, according to CRE market data from WDSuite. Investors should underwrite steady leasing while planning for asset-specific operations and capital needs.
The property sits in a Rural neighborhood of New Philadelphia-Dover rated B+, ranked 15 out of 41 neighborhoods — competitive among New Philadelphia-Dover neighborhoods. WDSuite s CRE market data indicates neighborhood occupancy is the highest in the metro (rank 1 of 41) and tests among the strongest nationally, a supportive signal for stabilizing cash flows at the submarket level. Note that occupancy figures reflect the neighborhood, not this specific property.
Average construction vintage in the neighborhood skews older (1930s), while this asset s 1972 build is newer than much of the surrounding stock. For investors, that typically means moderate capital planning with potential value-add via interior upgrades, systems modernization, and curb appeal to differentiate versus older comparables.
Renter-occupied housing accounts for a meaningful share locally (the neighborhood s renter concentration sits around the 65th national percentile). That depth supports a consistent tenant base for small multifamily, though leasing strategies should calibrate to a market where price sensitivity can vary by unit quality and finish level.
Within a 3-mile radius, recent data show a small decline in population alongside growth in the number of households and smaller household sizes — dynamics that typically expand the renter pool for well-located apartments. Forward-looking projections point to population and household growth through 2028, which would support occupancy stability and leasing velocity if realized.
Local amenities are limited within the immediate neighborhood (ranked near the bottom of the metro for retail, cafes, parks, and groceries), so residents often rely on short drives for daily needs. For investors, the amenity-light setting underscores the importance of on-site features, parking, and unit functionality to drive retention.
Home values in the area are modest by national standards, and the neighborhood s rent-to-income metrics indicate relatively low rent burden. This context can aid lease retention, while also suggesting that outsized rent lifts may require demonstrated value through renovations or enhanced services rather than pricing alone.
Neighborhood-level crime data are not available in WDSuite for this location. Investors typically benchmark safety by comparing city and county trends, reviewing recent incident patterns, and incorporating resident feedback and property-level history. As with any small-market asset, prudent diligence includes confirming local policing coverage, lighting, and on-site security practices relative to nearby communities.
Regional employment anchors within commuting range include insurance, food manufacturing, industrial paper, and major tire and utility corporate offices. These employers support a diversified renter base and commute convenience for workforce renters referenced below.
- Erie Insurance Group — insurance (22.3 miles)
- J.M. Smucker — food manufacturing (27.3 miles) — HQ
- International Paper Company — industrial paper (30.9 miles)
- Goodyear Tire & Rubber — tire & rubber corporate (36.8 miles) — HQ
- FirstEnergy — utility corporate (38.6 miles) — HQ
719 Sterling Ave is a 20-unit 1972 vintage asset positioned in a neighborhood that ranks at the top of the metro for occupancy, a favorable indicator for leasing stability. According to CRE market data from WDSuite, renter concentration in the neighborhood is above national midrange, and 3-mile trends show more households even as household sizes edge lower — historically supportive of multifamily demand. Given modest regional home values and comparatively low rent-to-income levels, retention prospects are constructive, while rent growth is best supported by targeted renovations rather than pricing alone.
The 1972 vintage suggests useful value-add pathways — kitchens/baths, building systems, and common areas — to outcompete older local stock. Counterbalancing strengths, the amenity-light setting means on-site functionality and parking carry added weight, and investors should underwrite small-market liquidity and measured rent lifts. Overall, the thesis centers on durable occupancy with pragmatic, renovation-led upside in a workforce-oriented location.
- Neighborhood occupancy leads the metro, supporting stable leasing and cash flow
- 1972 vintage offers value-add potential to differentiate from older comparables
- 3-mile outlook indicates population and household growth, expanding the tenant base
- Rent-to-income levels suggest retention tailwinds; emphasize renovations to drive pricing power
- Risks: amenity-light area, small-market liquidity, and disciplined assumptions for rent growth