| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 90th | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5006 Emerald Lakes Blvd, Powell, OH, 43065, US |
| Region / Metro | Powell |
| Year of Construction | 1994 |
| Units | 32 |
| Transaction Date | 2024-09-05 |
| Transaction Price | $8,180,000 |
| Buyer | 5006 EMERALD LAKES LLC |
| Seller | SANDRA L MAHONEY FAMILY TRUST |
5006 Emerald Lakes Blvd Powell Multifamily Investment
Positioned in a high-income suburban pocket of the Columbus metro, this 32-unit asset targets steady renter demand supported by top-tier schools and a high-cost ownership market, according to WDSuite’s CRE market data. Neighborhood occupancy trends and rent-to-income levels point to retention potential with selective value-add upside.
Powell ranks 2 out of 580 Columbus neighborhoods with an A+ neighborhood rating, signaling durable fundamentals and strong consumer amenities for a suburban location. Amenity access is competitive among Columbus neighborhoods (amenity rank 7 of 580) with dining, parks, groceries, and pharmacies testing in the top quartile nationally by density, reinforcing day-to-day convenience that supports renter satisfaction.
Schools are a standout: the neighborhood 0s average school rating ranks 1 of 580 in the metro and sits in the 100th percentile nationally. For multifamily investors, that quality often correlates with deeper family-oriented renter demand and resilient lease velocity. Neighborhood occupancy is 93.3%; while slightly off its five-year peak, it remains above many U.S. suburban submarkets and supports stable income performance in underwriting.
Ownership costs are elevated for the neighborhood, with median home values materially above national norms. That high-cost ownership market helps sustain reliance on multifamily, while neighborhood median rents and a rent-to-income ratio around 0.10 suggest manageable affordability pressure—favorable for lease retention and pricing discipline. This balance is consistent with broader commercial real estate analysis trends for high-income suburbs.
Vintage and unit mix considerations matter: the property was built in 1994, while the neighborhood skews newer on average (around 2000). The older vintage may invite targeted capital planning—common area refresh, systems efficiency, and in-unit updates—to enhance competitiveness against newer stock. Tenure patterns indicate a moderate renter base in the neighborhood, and within a 3-mile radius, renter-occupied housing accounts for roughly 30% of units; combined with population and household growth in the same 3-mile radius over the last five years, this points to a larger tenant base and supports occupancy stability over time.
Safety indicators are comparatively strong for this neighborhood versus the broader U.S. Violent offense rates benchmark in the high 90s national percentile, placing the area among the safer parts of the country. Within the Columbus metro, the neighborhood 0s overall crime profile ranks favorably (36 out of 580), indicating above-metro performance.
Property offenses sit in a stronger-than-average national percentile as well, though recent year-over-year estimates show an uptick. For investors, the read-through is to underwrite to today 0s trend while monitoring management practices (lighting, access control, resident engagement) that help maintain stability. These figures are neighborhood-level and not property specific.
The immediate employment base features healthcare and corporate headquarters that drive professional and managerial demand, supporting commute convenience and renter retention. Notable nearby employers include Cardinal Health 0s headquarters and tech hub, plus additional Columbus headquarters across retail and insurance.
- Cardinal Health — healthcare distribution HQ (2.6 miles) — HQ
- Cardinal Health — corporate offices (2.9 miles)
- Fuse by Cardinal Health — technology/innovation (2.9 miles)
- L Brands — retail apparel HQ (12.0 miles) — HQ
- Big Lots — retail HQ (12.5 miles) — HQ
- Nationwide — insurance HQ (12.8 miles) — HQ
This 1994-vintage, 32-unit property sits in one of Columbus 0s top-performing suburban neighborhoods, where high-income households, best-in-metro schools, and a high-cost ownership market underpin multifamily demand. Neighborhood occupancy near the low-90s and a rent-to-income ratio around 0.10 indicate supportive retention dynamics, while the slightly older vintage suggests actionable value-add through unit modernization and operational enhancements. According to CRE market data from WDSuite, the neighborhood 0s amenity access and education profile rank among the metro 0s leaders, reinforcing leasing durability.
Within a 3-mile radius, both population and household counts have increased and are projected to grow further, broadening the renter pool and supporting occupancy stability. Investors should note the recent uptick in property offenses at the neighborhood level and plan standard risk-mitigation and asset management practices accordingly.
- Top-tier Columbus suburb with best-in-metro schools supporting sustained renter demand
- High-cost ownership market reinforces reliance on multifamily and pricing power
- 1994 vintage offers value-add potential versus newer neighborhood stock
- 3-mile radius growth expands the tenant base and supports occupancy stability
- Risk: monitor property offense trends and implement standard security and management measures