| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 57th | Good |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 496 Bavarian St, Middletown, OH, 45044, US |
| Region / Metro | Middletown |
| Year of Construction | 1993 |
| Units | 107 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
496 Bavarian St, Middletown, OH Multifamily Investment
Neighborhood fundamentals suggest stable renter demand with occupancy near the area norm and strong school ratings, according to WDSuite’s CRE market data. The location offers midrange amenities and income levels that support rent collections without overextending tenants.
Positioned within the Cincinnati, OH-KY-IN metro, the immediate neighborhood is rated A- and ranks 96 out of 611 metro neighborhoods, placing it in the top quartile among 611 metro neighborhoods for overall performance. Amenity access sits around the national middle (amenities at the 54th percentile), with restaurants and pharmacies moderately represented; parks are limited locally, which may modestly affect lifestyle appeal but not core leasing fundamentals.
Schools are a relative strength: the neighborhood’s average school rating is near the top nationally (84th percentile), which can bolster long-term renter appeal and retention for family-oriented unit mixes. Typical neighborhood rents track near the U.S. midpoint, and occupancy is competitive versus national norms (around the 71st percentile), supporting income stability through cycles.
The share of housing units that are renter-occupied is lower within the neighborhood (indicating more ownership housing), which can constrain immediate multifamily supply yet still allow steady absorption for well-run assets. Within a 3-mile radius, households have grown in recent years and are projected to increase through the current forecast period, expanding the potential tenant base even as ownership remains a meaningful alternative.
Income dynamics are constructive: neighborhood median household income trends above many U.S. areas (74th percentile nationally), while rent-to-income levels are favorable for lease retention. Together with moderate rent levels, these conditions support pricing power that is incremental rather than aggressive, aligning with disciplined asset management.
Safety indicators compare favorably in a metro and national context. The neighborhood’s crime profile ranks 53 out of 611 Cincinnati metro neighborhoods, indicating comparatively lower crime than most of the metro, and sits around the 71st percentile nationally for overall safety. Violent incidents are especially low relative to U.S. neighborhoods (around the 98th percentile for safety) with recent improvement over the past year.
Property-related incidents are comparatively favorable in level (around the 87th percentile nationally for safety), though the most recent year showed an uptick versus the prior year. Investors should weigh the strong violent-crime position and metro-relative standing against this near-term fluctuation when underwriting security measures and loss assumptions.
The area draws from a diversified employment base that supports leasing stability, including steel manufacturing headquarters, health insurance and pharmacy services, utilities, and financial services offices within commuting distance.
- AK Steel Holding — steel manufacturing (13.3 miles) — HQ
- Anthem Inc Mason Campus II — health insurance (13.7 miles)
- Humana Pharmacy Solutions — pharmacy services (14.6 miles)
- Duke Energy — utilities (16.0 miles)
- Cincinnati Financial — insurance (17.0 miles) — HQ
496 Bavarian St totals 107 units and was built in 1993, a slightly older vintage than the neighborhood’s average year built. That positioning can support a value-add plan focused on system upgrades and common-area refreshes to remain competitive against newer stock while maintaining an affordability edge. Neighborhood occupancy is competitive nationally and schools rate strongly, which, combined with moderate amenity access, supports steady leasing and retention.
Within a 3-mile radius, recent household growth and projected gains through 2028 point to a larger tenant base over time. Rent levels sit near the national midpoint and rent-to-income is favorable, supporting collections and measured rent growth; based on commercial real estate analysis from WDSuite, these factors align with stable cash flow assumptions while leaving room for targeted renovations to drive NOI. Investors should underwrite against a low local renter concentration and a recent uptick in property-related incidents, balancing these risks against strong violent-crime trends and income fundamentals.
- Competitive neighborhood profile (top quartile among 611 metro neighborhoods) supports leasing stability
- 1993 vintage offers value-add and systems modernization upside versus newer comps
- Favorable rent-to-income and midrange rents support collections and measured pricing power
- 3-mile household growth and projections indicate a larger tenant base, supporting occupancy
- Risks: lower neighborhood renter concentration and a recent property-crime uptick warrant conservative underwriting