| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 40th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 240 Main St, Ashley, OH, 43003, US |
| Region / Metro | Ashley |
| Year of Construction | 1974 |
| Units | 46 |
| Transaction Date | 2018-11-20 |
| Transaction Price | $336,000 |
| Buyer | BUCKEYE COMMUNITY SEVENTY SEVEN LP |
| Seller | ASHLEY VILLA |
240 Main St, Ashley OH Multifamily Holding
Neighborhood occupancy is near 90% with a renter-occupied share competitive within the Columbus metro, according to WDSuite’s CRE market data. This suggests a stable tenant base for smaller-unit product in a suburban setting.
Ashley sits within the Columbus, OH metro and scores below the metro median on broad neighborhood rankings (527 of 580), indicating modest amenities and small-town dynamics. Cafes, groceries, parks, and restaurants are sparse locally, so residents typically rely on nearby towns for daily needs, which can influence leasing to tenants prioritizing value and quiet suburban living.
School quality trends are comparatively favorable: the average school rating is around 3.0 out of 5 and ranks 90 of 580 within the metro, which is competitive among Columbus neighborhoods and above the national median percentile. For investors, that can support retention among family renters even when local retail is limited.
On fundamentals, neighborhood occupancy is about 90%, though this level ranks below the metro median, while the share of housing units that are renter-occupied is 36.8%—competitive among Columbus neighborhoods and in the upper quartile nationally. Together, these signals point to a workable depth of tenant demand for workforce-oriented units, with leasing stability driven more by value than convenience retail.
Within a 3-mile radius, population edged down over the last five years while household counts increased, reflecting smaller household sizes. Forecasts point to additional household growth over the next five years, which can expand the local renter pool and support occupancy. Median contract rents in the neighborhood are lower than many metro peers and have risen over the past five years, while a rent-to-income ratio near 0.15 suggests manageable affordability pressure for tenants, aiding renewal potential.
Ownership costs remain moderate in context: median home values trail high-cost metro cores, and the value-to-income ratio sits near national mid-range levels. That mix can create some competition from entry-level ownership, but it also sustains rental demand among households prioritizing lower monthly housing costs and flexibility over longer commutes.
Neighborhood-level crime metrics are not available in the current dataset for this location. Investors typically benchmark safety by comparing local trends to peer Columbus neighborhoods and monitoring owner/manager reports and municipal data over time.
Given the small-town context and limited amenity density, prudent underwriting would incorporate standard measures such as lighting, access control, and coordination with local authorities, while tracking regional trends rather than drawing block-level conclusions.
Major employers within commuting range include Cardinal Health, Fuse by Cardinal Health, Parker-Hannifin, L Brands, and Nationwide. These corporate anchors broaden the employment base accessible from Ashley and can support renter demand and retention for workforce housing.
- Cardinal Health — healthcare distribution (22.1 miles) — HQ
- Fuse by Cardinal Health — innovation lab (22.5 miles)
- Parker-Hannifin Corporation — industrial manufacturing (23.5 miles)
- L Brands — retail & apparel (24.3 miles) — HQ
- Nationwide — insurance (30.1 miles) — HQ
Built in 1974, the asset is newer than much of the surrounding housing stock, positioning it competitively versus older properties while still presenting potential for targeted renovations and systems modernization. Neighborhood signals point to a value-oriented renter base: occupancy is near 90% and renter concentration is competitive within the Columbus metro, based on CRE market data from WDSuite, supporting steady lease-up for smaller units.
Within a 3-mile radius, households have increased despite modest population decline, and forecasts call for further household growth—factors that can expand the tenant base and support occupancy stability. Rents remain relatively accessible in this submarket, and a rent-to-income ratio near the mid-teens indicates manageable affordability pressure, aiding retention. Key risks include limited nearby amenities and some competition from entry-level ownership, warranting disciplined leasing strategy and selective capital improvements.
- 1974 vintage offers competitive positioning vs. older local stock with targeted value-add potential
- Neighborhood occupancy near 90% and competitive renter concentration support leasing stability
- Household growth within 3 miles enlarges the tenant base and underpins demand
- Accessible rents and mid-teens rent-to-income help retention and pricing flexibility
- Risks: limited amenity density and entry-level ownership competition require disciplined execution