| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 23rd | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 216 Putnam St, Marietta, OH, 45750, US |
| Region / Metro | Marietta |
| Year of Construction | 2013 |
| Units | 20 |
| Transaction Date | 1991-04-02 |
| Transaction Price | $225,000 |
| Buyer | HUNTER REAL ESTATE LLC |
| Seller | FIRST BANK OF OHIO |
216 Putnam St Marietta Multifamily Investment Opportunity
The surrounding neighborhood sits in the top quartile of the metro for renter-occupied housing share, supporting a deeper tenant base and steady leasing, according to WDSuite’s CRE market data. Occupancy in the neighborhood has been relatively stable, indicating demand resilience for well-managed assets.
Located in Marietta’s inner-suburb fabric, the property benefits from strong day-to-day convenience: restaurants, cafes, groceries, parks, and pharmacies all rank at or near the top among 34 metro neighborhoods, with national amenity percentiles well above average. This density of essentials can support resident retention and leasing velocity, though limited childcare options nearby may require residents to look to adjacent areas.
Vintage positioning is a differentiator. The asset was built in 2013, while the neighborhood’s average construction year skews much older (1939). Newer construction typically competes well against aging stock and may require fewer near-term system overhauls; investors should still underwrite routine modernization to maintain an edge over older comparables.
At the neighborhood level, renter-occupied units account for a high share of housing, ranking first among 34 metro neighborhoods and testing high nationally. For investors, that signals a sizable renter pool and supports occupancy stability for professionally operated multifamily. Neighborhood rent-to-income metrics sit in a moderate range, suggesting pricing power should be balanced with lease management to mitigate retention risk.
Demographic statistics aggregated within a 3-mile radius show a slight population dip in recent years alongside an increase in households and smaller average household size. Forward-looking projections point to further household growth, which typically expands the tenant base and supports steady demand for rental units. Rising median incomes in the same radius enhance the case for measured rent growth aligned with quality and service upgrades.
Home values in the neighborhood context are relatively elevated versus local incomes, which can sustain reliance on rental housing and reduce immediate competition from ownership. This dynamic, combined with the area’s amenity access and a high renter concentration, underpins a durable demand profile versus many small-metro peers.
Neighborhood safety indicators compare favorably in a broader context. Crime metrics place the area above the metro median among 34 Marietta neighborhoods and in the upper national percentiles, indicating comparatively safer conditions than many neighborhoods nationwide.
Property-related offenses have trended down materially year over year, and violent offense indicators also sit in high national percentiles. While block-level outcomes can vary, the comparative positioning suggests supportive conditions for resident satisfaction and lease retention.
This 20-unit, 2013-vintage asset offers competitive positioning versus older neighborhood stock, supported by a high share of renter-occupied housing and strong access to daily amenities. Based on commercial real estate analysis using WDSuite data, the surrounding neighborhood shows steady occupancy and robust renter depth, while 3-mile household growth and rising incomes point to a larger tenant base over the medium term.
Investor focus centers on sustaining occupancy and measured rent growth through operational quality rather than aggressive pricing. The newer vintage reduces near-term capital exposure relative to older comparables, though investors should plan for ongoing modernization to maintain competitiveness. Local ownership costs relative to incomes help sustain rental demand, but careful lease management remains important given the market’s small-metro scale and sensitivity to affordability.
- Newer 2013 construction competes well versus older neighborhood stock, with reduced near-term system capex risk.
- High neighborhood renter concentration supports a deeper tenant base and occupancy stability.
- Strong access to daily amenities (food, parks, pharmacies) can aid resident retention and leasing velocity.
- 3-mile household growth and rising incomes expand the renter pool, supporting measured rent increases tied to quality.
- Risk: small-metro dynamics and affordability sensitivity require disciplined pricing and proactive lease management.