methodology
Negative Apartment Location Attributes
Negative location attributes also consider Submarket, Immediately Surrounding Area, and Site-Specific concerns as:
Submarket Characteristics Reducing a Location’s Rating
Area demographics reflect a disproportionate presence of very low-income households
Weak availability, and/or quality, of area employment
Generally limited, or deteriorated condition of area commercial development and services; functional obsolescence of existing shopping facilities
Area access is substantially inconvenient
High area unemployment relative to metropolitan area statistics
Immediate Surrounding Area Characteristics Reducing a Location’s Rating
Substantially deteriorated surrounding neighborhood development – housing, and commercial
A “high violent-crime area” designation
High immediate area unemployment relative to metropolitan area statistics
Site-Specific Characteristics Reducing a Location’s Rating
Ingress/egress limitation to site accessibility resulting from obstacles, or inconvenience such
as:
- Presence of a traffic median prohibiting direct access;
- Excessively high drive-by traffic volume resulting in inconvenient access; or
- Frontage onto a one-way street.
Limitation of street exposure if the property includes frontage onto a major traffic carrier (i.e a narrow entry, with minimal street frontage).
Limited marketing exposure to prospective resident traffic due to frontage onto a low volume neighborhood street.