| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 51st | Fair |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 124 Pamela Dr, Morrow, OH, 45152, US |
| Region / Metro | Morrow |
| Year of Construction | 1996 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
124 Pamela Dr, Morrow OH Multifamily Investment
Neighborhood occupancy trends are steady and supportive for small multifamily, according to WDSuite’s CRE market data, pointing to durable demand in this rural Cincinnati metro pocket. The asset’s 1996 vintage positions it competitively versus older local stock while leaving room for targeted modernization.
Morrow sits within the Cincinnati, OH-KY-IN metro and is classified as a Rural neighborhood with a B- rating (ranked 341 of 611 metro neighborhoods). That places it near the metro midpoint, suggesting balanced fundamentals without the pricing volatility of top-growth corridors.
Occupancy in the neighborhood is strong and competitive nationally, with rates in the top quartile across U.S. neighborhoods. For investors, that backdrop supports cash flow stability and lowers lease-up risk for smaller properties. Neighborhood renter concentration is roughly one-third of housing units being renter-occupied, indicating a meaningful tenant base for multifamily while still operating alongside a sizable owner-occupied market.
Within a 3-mile radius, population and household counts have grown over the past five years and are projected to continue expanding, increasing the available renter pool. Forecasts also indicate a higher share of renter-occupied units by 2028, which points to deeper demand for rental housing and supports occupancy stability as new households form and age into rental options.
Amenities are limited locally — grocery, parks, and pharmacies are sparse — but cafe density scores are competitive versus national peers for a rural location, and average school ratings sit above the national midpoint. Median contract rents in the neighborhood are modest relative to incomes (high national percentile for rent-to-income), which can enhance resident retention and reduce turnover. Home values are moderate in the regional context; ownership remains accessible for some households, which can introduce competition with entry-level ownership, but the area’s stable occupancy and growing nearby household base still underpin multifamily demand.
The average local construction year skews older than 1973, while this property’s 1996 vintage provides a relative edge on functional layout and systems versus older stock, though investors should still plan for selective updates to maintain competitiveness and support rent trade-outs.
Comparable crime data for this specific neighborhood is not available in the provided WDSuite dataset. Investors typically benchmark property-level security measures and municipal policing trends against Cincinnati metro norms and peer rural submarkets. Given the rural context, underwriting should incorporate visibility into local incident trends and resident experience rather than block-level assumptions.
Proximity to regional employers supports commute convenience for residents and can aid leasing stability. Notable nearby employment nodes include healthcare, metals, logistics, and financial services as outlined below.
- Anthem Inc Mason Campus II — healthcare services (9.0 miles)
- AK Steel Holding — metals manufacturing (15.4 miles) — HQ
- Kroger DCIC — logistics/distribution (15.4 miles)
- Humana Pharmacy Solutions — healthcare services (15.9 miles)
- Prudential Financial — financial services (17.0 miles)
The investment case centers on durable neighborhood occupancy, a growing 3-mile household base, and a 1996 vintage that is newer than much of the local stock. Strong occupancy performance — above national midpoints — supports cash flow stability, while a projected increase in renter-occupied share within the 3-mile radius points to an expanding tenant base and sustained leasing velocity. Median rents remain manageable relative to incomes, which can bolster resident retention and reduce economic vacancy.
The rural setting offers cost discipline but comes with thinner amenity coverage and some competition from attainable ownership. Against that backdrop, the asset’s vintage provides a platform for selective value-add (interiors, common areas, efficiency upgrades) to improve positioning and capture rent trade-outs without relying on aggressive growth assumptions; this view is grounded in commercial real estate analysis from WDSuite’s datasets.
- Occupancy backdrop competitive nationally supports cash flow stability
- 3-mile population and household growth expand the local renter pool
- 1996 vintage offers value-add potential versus older neighborhood stock
- Manageable rent-to-income dynamics aid retention and limit turnover risk
- Risks: rural amenity depth and attainable ownership may temper pricing power