Description
THE LOCATION:
Xenia has a population of roughly 26,000 that saw slight growth in the 2020 census of half a percent. The median HHI is $46k with 56% of the population living in owner-occupied units. One of the largest resident draws to Xenia is the proximity to Beavercreek which is one of the most sought after submarkets in Dayton and is only 8 miles away. Beavercreek is home to 47k residents where the median HHI is $95k and the average cost of a home is $305k per census data and Coldwell Bank Realty. The close proximality of Xenia offers residents a convenient living options with a more affordable average rent of $764 compared to the average rent in Beavercreek at $1,414.
PROVEN RENTAL UPSIDE:
Current ownership has been actively renovating interior units on turns resulting in a $194 rental premium compared to the average effective rent of standard units. Roughly 35 units have been renovated over the last 12 months in addition to exterior improvements made to the property.
GROWING MARKET:
Xenia has seen an inflow of capital from the public and private sectors over the last 18 months. The school district has received $38m which will go towards building a new middle school and updating the high school. The town square is getting a $124m make over with a ground up mixed use building offering luxury apartment units, eateries, cafes, and retailers. The mixed use building is in the final planning phase and has a completion target of Fall 2024. Additionally there are four semi-custom home developments slated to deliver a total of 792 homes by the end of 2025. The average starting price for the first phase of deliveries is roughly $250k.
Listing Details
| Price: | $Market Bid |
|---|---|
| Address: | 1047 Fredrick Drive |
| City: | Xenia |
| State: | Ohio |
| Year Built: | 1973 |