| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 90th | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4406 Emerald Lakes Blvd, Powell, OH, 43065, US |
| Region / Metro | Powell |
| Year of Construction | 1994 |
| Units | 32 |
| Transaction Date | 2012-03-26 |
| Transaction Price | $1,116,000 |
| Buyer | BJ APARTMENTS LLC |
| Seller | MAHONEY SANDRA L |
4406 Emerald Lakes Blvd Powell Multifamily Investment
Positioned in an A+ Powell neighborhood with strong incomes, top-rated schools, and steady renter demand that supports occupancy stability, according to WDSuite’s CRE market data. Elevated ownership costs in the area point to durable multifamily pricing power without relying on aggressive assumptions.
The property sits in one of the Columbus metro’s highest-performing suburban neighborhoods (A+ rating; ranked 2 out of 580 metro neighborhoods), indicating strong livability and fundamentals for long-term multifamily performance. Amenity access is robust for a suburban location, with above-median density of grocery, parks, pharmacies, restaurants, and cafes—conveniences that typically aid retention and lease-up velocity.
Schools in the neighborhood are top-tier (average rating among the best in the metro and in the top percentile nationally), a draw for households seeking stability. Median home values are elevated relative to most neighborhoods, which reinforces reliance on multifamily rentals and can support pricing power for well-managed assets. Neighborhood rents have trended upward over the past five years, aligning with sustained demand.
Construction patterns skew relatively new across the neighborhood, while this asset’s 1994 vintage is older than the local average (2000). Investors should plan for targeted modernization and systems updates to enhance competitiveness against newer stock, creating potential value-add upside where renovations elevate finishes and operating efficiency.
Within a 3-mile radius, demographic data show population growth alongside an increase in households and a renter-occupied share of roughly one-third, expanding the tenant base for smaller-format units and supporting occupancy stability. Forward-looking projections within the same 3-mile radius indicate continued household expansion and income gains, pointing to a deeper renter pool over time and potential for sustained rent growth with disciplined lease management.
Safety indicators are favorable compared with both the metro and national benchmarks. Violent-offense rates score in the top percentile nationally and rank among the best within the Columbus metro’s 580 neighborhoods, which supports resident appeal and leasing stability. Property offenses remain favorable by national comparison, though the most recent year showed an uptick; investors may wish to incorporate practical measures such as lighting, access control, and package management into capital plans.
Proximity to major employers anchors demand for workforce and professional renters, with nearby healthcare, retail headquarters, and industrial distribution providing commute convenience that can aid retention.
- Cardinal Health — healthcare services (2.7 miles) — HQ
- Fuse by Cardinal Health — technology/innovation lab (2.9 miles)
- Cardinal Health — corporate offices (3.0 miles)
- L Brands — retail/apparel (11.9 miles) — HQ
- Wesco Distribution — industrial distribution (12.5 miles)
This 32-unit, small-format multifamily asset benefits from an A+ Powell location with high-income households, top-ranked schools, and strong amenity access that supports tenant retention. Elevated home values in the neighborhood bolster reliance on rentals and can sustain pricing power, while neighborhood occupancy levels and rising rents point to durable demand. According to CRE market data from WDSuite, the area’s fundamentals compare favorably against many suburban submarkets, reinforcing a long-term hold thesis grounded in demand depth rather than speculative growth.
Built in 1994, the property is slightly older than the neighborhood average, creating a clear value-add path through unit and common-area updates to compete with newer stock. With an average unit size of 406 square feet, the asset is positioned to serve singles and downsizers seeking quality locations at smaller footprints—an efficient format that can support occupancy stability when paired with disciplined lease management and targeted capex.
- A+ Powell location with top-ranked schools and strong amenity access that supports retention
- Elevated ownership costs reinforce multifamily demand and pricing power for well-managed assets
- Value-add potential: 1994 vintage offers modernization upside versus newer neighborhood stock
- Small-format units align with a deepening renter base within a 3-mile radius, supporting occupancy stability
- Risks: recent property-crime volatility and competitive newer product warrant security and capex planning