| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 23rd | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 623 Virginia St, Marietta, OH, 45750, US |
| Region / Metro | Marietta |
| Year of Construction | 1998 |
| Units | 42 |
| Transaction Date | 1997-03-28 |
| Transaction Price | $115,000 |
| Buyer | WINBERI PLACE LIMITED PA |
| Seller | --- |
623 Virginia St, Marietta OH Apartment Investment
Amenity-rich neighborhood fundamentals and a solid renter base point to steady leasing conditions, according to WDSuite’s commercial real estate analysis. Positioning focuses on renter demand and retention rather than outsized rent growth.
Located in Marietta’s Inner Suburb, the property sits in a neighborhood rated A and ranked 4 of 34 within the metro, indicating performance that is competitive among metro peers. Local occupancy is measured at the neighborhood level at 89.2%, holding roughly stable in recent years, which suggests predictable leasing conditions rather than volatility.
Daily convenience is a strength: restaurants, cafes, groceries, parks, and pharmacies all score in high national percentiles, reflecting dense amenity access within the immediate area. This level of walkable services supports renter satisfaction and lease retention even when broader market demand slows.
Construction in the neighborhood skews older on average (1939). With a 1998 vintage, this asset is newer than much of the surrounding stock, offering relative competitiveness and potentially lower near-term capital needs than pre-war buildings, while still leaving room for targeted modernization to drive incremental rent.
Tenure patterns point to depth in the tenant base: 51.1% of housing units in the neighborhood are renter-occupied. In parallel, within a 3-mile radius, households have inched higher despite a modest population decline, and forecasts indicate further household growth through 2028. This combination implies a gradually expanding renter pool and supports occupancy stability for well-positioned multifamily assets.
Ownership costs remain accessible by national standards, yet the neighborhood’s value-to-income ratio sits above many U.S. areas, which can sustain reliance on rentals. Neighborhood rent-to-income is measured at levels that suggest manageable affordability pressure for typical renters, supporting lease management and retention.
Safety indicators benchmark favorably at the national level. Overall, the neighborhood sits in a high national percentile for safety (top quartile nationally), based on CRE market data from WDSuite. Year over year, both violent and property offense rates have moved lower, pointing to improving conditions rather than deterioration.
Compared with other Marietta metro neighborhoods (34 total), safety performance is mid-pack to better-than-median depending on the measure. For investors, the key takeaway is that safety trends are supportive of renter retention and day-to-day livability, without signaling outlier risk at the block level.
This 42-unit asset, built in 1998, is positioned in a neighborhood with strong amenity density and a renter-occupied share above half, supporting steady demand and occupancy resilience. The vintage is newer than much of the local housing stock, which can reduce immediate capital intensity versus older comparables while leaving selective value-add opportunities.
At the neighborhood level, occupancy has been stable, and within a 3-mile radius, households are projected to increase through 2028, implying a larger tenant base over time. According to CRE market data from WDSuite, safety benchmarks are strong nationally and trending positively, while local rent-to-income levels suggest manageable affordability pressure that supports retention. Primary risks include small-metro scale and modest income levels, which may temper rent growth and require disciplined lease management.
- Amenity-rich location with strong national percentile scores supports day-to-day livability and leasing
- 1998 vintage competitive versus older neighborhood stock, with targeted value-add potential
- Neighborhood occupancy stable and 3-mile household growth outlook supports renter pool expansion
- Safety metrics in top national quartiles and improving year over year aid retention
- Risks: small-market scale and modest incomes may limit pricing power; active asset management is important