| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 42nd | Fair |
| Amenities | 16th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1811 E High Ave, New Philadelphia, OH, 44663, US |
| Region / Metro | New Philadelphia |
| Year of Construction | 1975 |
| Units | 34 |
| Transaction Date | 1995-12-28 |
| Transaction Price | $500,000 |
| Buyer | BEAVER CREEK APARTMENTS LLC |
| Seller | REAL ESTATE PROPERTIES INC |
1811 E High Ave, New Philadelphia OH Multifamily Opportunity
Neighborhood occupancy trends are steady and above the metro median, according to WDSuite’s CRE market data, suggesting consistent leasing fundamentals for well-managed assets in this submarket.
The property sits in a rural-leaning part of the New Philadelphia–Dover metro where neighborhood occupancy is above the metro median (ranked 19th of 41 neighborhoods), pointing to stable tenant retention relative to local peers. Rents in the neighborhood track below national averages (contract rent rank 22 of 41; low national percentile), which can support leasing velocity while limiting pricing power. Median home values are also modest for the region, which can introduce some competition with ownership and may temper rent growth.
Amenity access is competitive locally but limited by national standards. Within the metro, restaurant and grocery density place the neighborhood competitively among New Philadelphia–Dover neighborhoods (both ranks near the top third of 41), yet overall amenity depth is lower in national comparison. Assets here tend to be more car-reliant with fewer parks, pharmacies, or cafes in the immediate vicinity.
Demographic statistics aggregated within a 3-mile radius indicate modest population growth over the past five years and a notable increase in households alongside smaller average household sizes. This combination typically broadens the renter pool and supports occupancy stability for functional product. Roughly two-fifths of housing units in the 3-mile area are renter-occupied, signaling a meaningful base of multifamily demand without over-reliance on rentals.
Vintage context matters: the average construction year for nearby housing skews older than mid-century, while this asset’s 1975 vintage is comparatively newer than much of the local stock. That positioning can enhance competitiveness versus older alternatives, though investors should still plan for systems modernization and selective renovations to maintain appeal.
Comparable neighborhood crime metrics are not available in WDSuite for this location at this time. Investors typically benchmark safety by reviewing city and county trends alongside property-specific history and management practices to contextualize risk.
Regional employment is diversified across insurance, consumer goods, manufacturing, and distribution, supporting a steady renter base that values commute convenience to nearby job centers including Erie Insurance, J.M. Smucker, International Paper, Goodyear, and AutoZone Distribution.
- Erie Insurance Group — insurance (25.9 miles)
- J.M. Smucker — food & consumer goods (31.8 miles) — HQ
- International Paper Company — paper & packaging (35.2 miles)
- Goodyear Tire & Rubber — tire manufacturing (40.6 miles) — HQ
- Autozone Distribution Center — auto parts distribution (42.4 miles)
1811 E High Ave offers a 34-unit scale in a New Philadelphia submarket where neighborhood occupancy trends sit above the metro median, supporting consistent leasing for functional, well-managed product. The 1975 vintage is newer than much of the surrounding housing stock, creating an advantage versus older alternatives while leaving room for targeted value-add through systems upgrades and interior refreshes. According to CRE market data from WDSuite, local rents are comparatively modest by national standards, which can support demand depth and retention even as it moderates near-term pricing power.
Household counts within a 3-mile radius have expanded alongside smaller average household sizes, indicating a broader tenant base and potential for steady absorption. Amenity density is competitive locally but thinner in national comparison, reinforcing the importance of property-level improvements and management to drive leasing performance.
- Above-metro neighborhood occupancy supports stable leasing fundamentals
- 1975 vintage newer than much of local stock; scope for targeted value-add
- Modest rents relative to national levels deepen demand and aid retention
- Growing household counts within 3 miles point to a widening renter base
- Risks: thinner amenity depth and competition from homeownership may temper rent growth