| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 38th | Fair |
| Amenities | 33rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 814 Mill Aly, Newcomerstown, OH, 43832, US |
| Region / Metro | Newcomerstown |
| Year of Construction | 1982 |
| Units | 51 |
| Transaction Date | 2017-06-15 |
| Transaction Price | $1,100,000 |
| Buyer | BUCKHORN VILLAGE LLC |
| Seller | TESTA NEWCOMERSTOWN LLC |
814 Mill Aly Newcomerstown Multifamily Investment
Neighborhood occupancy has trended stable with improving renter demand and modest rent levels, according to WDSuite s CRE market data, supporting an income-oriented hold with potential value-add upside.
The property sits in Newcomerstown s Inner Suburb fabric with a B neighborhood rating and performance that is above the metro median among 41 New Philadelphia Dover neighborhoods (rank 20 of 41). Daily-needs access is a relative strength: grocery and pharmacy availability track above national norms for places of this scale, while parks, cafes, and childcare options are thinner, pointing to a quieter residential setting rather than a lifestyle corridor.
For investors, the most actionable signal is rental durability at the neighborhood level: occupancy in the surrounding area has hovered near the low-90s and improved over the past five years, which supports income stability for comparable assets. Median contract rents in the neighborhood remain low versus national benchmarks, leaving measured room for management-driven rent optimization where quality supports it.
Tenant base and tenure: Neighborhood tenure data indicate a meaningful renter concentration (about 45% of housing units are renter-occupied), providing depth for leasing without being overly transient. Within a 3-mile radius, demographics show a smaller renter share today alongside an increase in total households and smaller average household sizes, which can expand the tenant pool for efficiently sized units and support occupancy stability.
Schools and amenities: Average school ratings sit near the national middle and are competitive among New Philadelphia Dover neighborhoods, which is serviceable for workforce renters. Restaurant options are present, and while destination amenities are limited, the essentials are nearby a practical fit for value-oriented multifamily.
Asset positioning: Built in 1982, the property is newer than much of the surrounding housing stock (local average vintage is mid-20th century). That relative youth can enhance competitive positioning versus older walk-up inventory, though investors should still plan for modernization of aging systems or targeted renovations to meet contemporary renter expectations.
WDSuite s CRE market data indicate the neighborhood scores in the upper quartile for safety nationally, with property offense rates positioned in a very high national safety percentile. Violent offense metrics also benchmark favorably against national norms, though recent year-over-year readings show some fluctuation that warrants routine monitoring rather than block-level conclusions.
In a smaller metro context like New Philadelphia Dover, localized swings can appear outsized over short windows. Investors should interpret the signal comparatively: the area s current profile reads safer than many neighborhoods nationwide, but trend vigilance remains prudent for underwriting and operations.
Regional employment is anchored by logistics, manufacturing, consumer goods, and insurance a mix that supports workforce housing demand and retention through commute-accessible jobs to the west and north of Newcomerstown.
- Autozone Distribution Center logistics & distribution (25.0 miles)
- International Paper Company manufacturing (40.4 miles)
- J.M. Smucker consumer packaged goods (40.8 miles) HQ
- Erie Insurance Group insurance (40.9 miles)
This 51-unit, 1982-vintage asset offers exposure to a value-oriented renter base with neighborhood occupancy readings that have improved over the past five years. Relative to older area stock, the vintage can compete well on basic functionality, while targeted system upgrades and unit refreshes may unlock rent optimization without overextending capex. According to CRE market data from WDSuite, neighborhood rents and rent-to-income levels suggest manageable affordability pressure, supporting lease retention and measured pricing power where renovations improve livability.
3-mile demographic data show a growing household count and smaller average household size, which can expand the renter pool for efficiently sized units and support occupancy stability. Local ownership costs are comparatively accessible, which can introduce some competition from entry-level ownership; however, the area s renter concentration and daily-needs amenity access provide a stable foundation for workforce housing demand.
- Neighborhood occupancy has strengthened, supporting income stability for comparable assets.
- 1982 vintage is newer than much of the area, with potential value-add via selective modernization.
- Renter concentration and smaller household sizes within 3 miles expand the tenant base for efficient units.
- Low rent-to-income levels indicate manageable affordability pressure and room for operational improvements.
- Risks: limited lifestyle amenities, potential competition from entry-level ownership, and local safety trends that require monitoring.