| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Fair |
| Demographics | 50th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13579 State Route 550, Athens, OH, 45701, US |
| Region / Metro | Athens |
| Year of Construction | 1984 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
13579 State Route 550 Athens, OH Multifamily Investment
Positioned in a rural Athens submarket, this 112-unit, 1984-vintage asset offers comparatively newer stock versus much of the area and potential value-add through selective renovations, according to WDSuite s CRE market data.
Athens rural setting delivers quiet living but limited retail and daily conveniences nearby. Neighborhood amenity density ranks near the bottom among 31 metro neighborhoods, and national percentiles indicate sparse grocery, restaurant, and park access reinforcing a drive-to-amenities profile. For investors, this typically means leasing anchored by residents prioritizing space and price over walkability, with commute patterns extending to regional employment nodes.
The property s 1984 construction is newer than the neighborhood s average vintage (1966), suggesting relative competitiveness versus older local stock. That positioning can reduce near-term obsolescence risk while still allowing for practical value-add such as systems updates, curb appeal, and common-area modernization to capture rent premiums where feasible.
Neighborhood-level occupancy is soft relative to national norms and sits below most Athens peers, signaling a cautious leasing environment. Separately, tenure data show a low renter concentration at the neighborhood level, while demographics aggregated within a 3-mile radius indicate renters comprise a minority of housing units. Together, these factors suggest demand may be more selective, and leasing success is likely tied to clear affordability, functional unit sizes, and reliable property management.
Within a 3-mile radius, population and households have trended down, pointing to a smaller tenant base over time; investors should underwrite to slower absorption and place emphasis on retention. Home values in the neighborhood are moderate for Ohio, and value-to-income metrics indicate ownership is relatively accessible compared with high-cost metros which can create some competition with entry-level ownership options. Balanced against that, larger household sizes (top decile nationally) may support demand for 2 -bedroom layouts, benefitting assets that deliver practical space at attainable effective rents based on commercial real estate analysis from WDSuite.
Safety indicators compare favorably at the national level: the neighborhood sits above average nationwide overall and is in a high national percentile for lower violent and property offense rates. At the metro scale, however, its crime rank is in the lower half among 31 Athens neighborhoods, so local positioning is weaker than the national comparison. Investors should evaluate property-level controls (lighting, access, surveillance) to sustain leasing and retention.
Recent trend signals are mixed: estimated property offenses have improved year over year, while estimated violent offenses show an uptick. This pattern argues for continued operational focus and coordination with local resources, while recognizing that the broader national comparison remains favorable.
Regional employment access is driven by distribution and corporate operations within commuting range, supporting workforce housing demand for residents willing to drive to jobs. The following employers illustrate the nearest larger nodes referenced in leasing conversations.
- General Mills food manufacturing corporate offices (34.7 miles)
- Autozone Distribution Center distribution & logistics (40.5 miles)
This 112-unit property s 1984 vintage is newer than much of the local stock, creating a practical platform for targeted improvements that can sharpen its competitive position relative to older properties. Based on CRE market data from WDSuite, the surrounding neighborhood shows limited amenity density and below-median metro occupancy conditions that typically reward disciplined pricing, durable operations, and a focus on retention. Demographics within a 3-mile radius have softened, so demand is likely to be value- and commute-driven rather than amenity-led.
Ownership appears comparatively accessible in this market, which can introduce competition for some renter cohorts; however, larger household sizes locally may favor functional 2 -bedroom layouts at attainable effective rents. Investors can frame the thesis around reliable property management, cost-effective capex, and capturing steady tenancy from residents prioritizing space and price over walkability.
- 1984 vintage offers renovation and systems-upgrade runway versus older neighborhood stock
- Rural setting supports space/price-sensitive renter demand with commute-based leasing
- Operational focus on retention can offset softer neighborhood occupancy levels
- Unit mix emphasizing practical 2 BR layouts aligns with larger household sizes locally
- Risks: shrinking 3-mile population and accessible ownership alternatives may pressure absorption and pricing power