| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 69th | Best |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4885 Cross Key Dr, South Lebanon, OH, 45065, US |
| Region / Metro | South Lebanon |
| Year of Construction | 2004 |
| Units | 20 |
| Transaction Date | 2003-05-19 |
| Transaction Price | $750,000 |
| Buyer | PEDCOR INVESTMENTS-2003-LX LP |
| Seller | PENNINGTON WASH |
4885 Cross Key Dr South Lebanon 20-Unit Multifamily
Neighborhood occupancy sits below the metro median, but strong 3-mile household and income growth point to a deepening renter base, according to WDSuite’s CRE market data.
South Lebanon is a suburban node within the Cincinnati metro, rated B+ and ranked 203 out of 611 metro neighborhoods — competitive among Cincinnati neighborhoods. The area’s housing stock skews newer than the metro (local average construction year 2014), while this property’s 2004 vintage positions it slightly older than nearby stock, creating potential value‑add and modernization angles to sharpen competitiveness.
Within a 3-mile radius, population and households have expanded at a robust pace in recent years and are projected to continue rising through 2028, supporting a larger tenant base and helping stabilize occupancy over time. The renter-occupied share in this 3-mile area remains relatively low today but is projected to increase, suggesting more renters entering the market and deeper demand for multifamily units as growth continues.
Local livability leans suburban and car-oriented. Amenities are modest within the immediate neighborhood, though everyday services and restaurants are present at a lower density than urban cores. Average school ratings score in the top quartile nationally, which can support family-oriented demand and lease retention among residents prioritizing school quality.
Home values in the neighborhood rank above the national median while value-to-income levels suggest ownership is more attainable than in high-cost metros. For investors, that means rental demand is supported by income growth and in-migration, but pricing power may face some competition from ownership options; careful lease management and product differentiation will be important. Neighborhood occupancy currently trails the metro median, yet growth in households and high incomes (top decile nationally) indicate a solid runway for demand as more renters enter the area.
Comparable crime metrics for this neighborhood are not available in WDSuite’s dataset for the current release. Investors should benchmark against broader Cincinnati metro trends and rely on multiple sources for risk assessment, using property-level measures and lender diligence to contextualize safety alongside leasing performance and retention.
The location sits within a diversified suburban employment corridor that supports renter demand through commute convenience to major corporate offices, including Anthem, AK Steel Holding, Humana Pharmacy Solutions, Kroger DCIC, and Prudential Financial.
- Anthem Inc Mason Campus II — corporate offices (5.7 miles)
- AK Steel Holding — corporate offices (11.4 miles) — HQ
- Humana Pharmacy Solutions — corporate offices (12.0 miles)
- Kroger DCIC — corporate offices (12.4 miles)
- Prudential Financial — corporate offices (13.5 miles)
Built in 2004, this 20‑unit property is slightly older than the neighborhood’s predominantly post-2010 inventory, creating a practical value‑add path via interior updates and systems modernization to compete effectively against newer stock. Household growth, rising incomes, and a projected increase in the 3‑mile renter pool support demand resilience and leasing depth even as neighborhood occupancy currently trails the metro median. According to commercial real estate analysis from WDSuite, local school quality ranks among the nation’s stronger cohorts and incomes sit in the top decile nationally — a backdrop that can aid retention and credit quality.
At the same time, relatively attainable homeownership for the area implies competition with for‑sale housing, so maintaining a quality-to-price edge and emphasizing convenience to major employers will be key. Overall, the balance of growth, income strength, and value‑add potential underpins a cautious but constructive long‑term thesis.
- 2004 vintage offers actionable value‑add/modernization to compete with newer 2010s‑era stock nearby
- Expanding 3‑mile population and households support a growing renter base and occupancy stability over time
- High incomes and strong school ratings bolster tenant quality and lease retention
- Suburban employment access to Anthem, AK Steel, Humana, and Kroger supports demand and reduces commute friction
- Risk: ownership alternatives are relatively attainable locally and neighborhood occupancy trails the metro median, requiring disciplined pricing and asset positioning