| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 58th | Best |
| Amenities | 31st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1689 Colegate Dr, Marietta, OH, 45750, US |
| Region / Metro | Marietta |
| Year of Construction | 1983 |
| Units | 66 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1689 Colegate Dr Marietta Multifamily Investment Opportunity
Neighborhood occupancy has trended stable with signs of renter demand resilience, according to WDSuite’s commercial real estate analysis, offering investors a steady-income profile in a value-oriented Ohio market.
This Inner Suburb location in Marietta ranks in the top quartile among 34 metro neighborhoods, indicating generally favorable neighborhood fundamentals for a workforce-oriented asset. Amenity access skews practical rather than lifestyle-driven, with stronger coverage for parks and groceries than for cafes or pharmacies, which supports day-to-day convenience even if destination retail is limited.
Renter-occupied housing accounts for roughly two-fifths of neighborhood units, signaling a meaningful tenant base for multifamily operators and helping support demand depth and leasing stability. Neighborhood occupancy is around the low-90s and has improved over the past five years, a constructive backdrop for maintaining collections and mitigating downtime between turns.
Within a 3-mile radius, households have increased even as population has edged down, reflecting smaller household sizes and a shift that can expand the renter pool over time. Median contract rents in the neighborhood sit at the lower end relative to national benchmarks, which can support retention and measured pricing power without overextending affordability.
Home values are below national norms, which means ownership is relatively accessible compared with high-cost metros. For investors, that implies two countervailing forces: steady workforce demand for rentals due to lifestyle and credit considerations, alongside some competition from entry-level ownership that may cap rent growth outperformance. School ratings trend below national averages, so leasing narratives are likely to center on value, convenience, and livability rather than school-driven demand.
Relative to neighborhoods nationwide, this area benchmarks as safer, with crime metrics landing in a high national percentile. Within the Marietta metro, it performs around the middle of the pack, but year-over-year data indicate a notable decline in property offenses, reinforcing a constructive trend line rather than an outlier datapoint.
For investors, the takeaway is a safety profile that compares well nationally and has been improving, which can support tenant retention and leasing velocity without relying on block-level claims.
Regional logistics employment helps underpin renter demand, with proximity to the AutoZone Distribution Center supporting commute-oriented households who value predictable access to work.
- AutoZone Distribution Center — logistics & distribution (44.1 miles)
Built in 1983, the property is newer than much of the local housing stock, offering relative competitiveness versus older assets while still warranting targeted system upgrades or common-area refreshes typical for its vintage. Neighborhood occupancy has risen over the last five years and remains solid, and rent levels are positioned to support retention with room for disciplined adjustments. Based on CRE market data from WDSuite, these dynamics compare favorably against broader regional patterns where affordability supports stable renter demand.
Within a 3-mile radius, household counts are up and projected to grow further even as overall population trends modestly lower, implying smaller household sizes and a broader renter base. Ownership costs are comparatively accessible, which may temper peak rent growth but also sustain healthy leasing for value-positioned product as tenants prioritize convenience and total housing cost.
- 1983 vintage offers competitive positioning versus older local stock, with clear path for targeted value-add.
- Neighborhood occupancy has improved and remains solid, supporting income stability and manageable turnover.
- Household growth within 3 miles expands the renter pool despite modest population drift, aiding lease-up and retention.
- Rent levels at the lower end relative to national benchmarks support retention and measured pricing power.
- Risks: relatively accessible ownership may compete with rentals; amenity and school depth are limited versus top-tier metros.