| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 90th | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5303 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 |
5303 Emerald Lakes Blvd Powell Suburban Multifamily Investment
High-income suburban fundamentals, top-tier schools, and elevated ownership costs support durable renter demand in the surrounding neighborhood; according to WDSuite’s CRE market data, neighborhood occupancy trends in the low-90s and rents sit above metro norms.
Powell sits within the Columbus metro and this neighborhood ranks near the very top among 580 local neighborhoods (A+ rating), signaling strong location fundamentals for long-term hold strategies. Amenities density for restaurants, cafes, groceries, parks, and pharmacies tracks above national norms, supporting resident convenience and day-to-day livability that aids leasing and retention.
Public schools score at the highest tier in the metro (ranked 1st of 580), a differentiator for family-oriented renters and workforce households seeking stability. Neighborhood contract rents have run above the metro median, while neighborhood occupancy has remained in the low-90s, suggesting competitive product-market fit without relying on deep concessions, based on CRE market data from WDSuite.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing through the current forecast window, which supports a larger tenant base and steadier lease-up. Renter-occupied housing comprises roughly one-third of units within this 3-mile area, indicating a meaningful renter concentration that can sustain multifamily absorption.
Elevated home values in the neighborhood relative to the Columbus metro reinforce reliance on rental options, while a modest rent-to-income profile points to manageable affordability pressure and supports lease retention. Taken together, these dynamics position the submarket as competitive among Columbus neighborhoods and attractive for investors prioritizing occupancy stability and pricing resilience.
Neighborhood safety indicators compare favorably at the national level, with violent-offense metrics in the high end of national percentiles (safer than the vast majority of neighborhoods nationwide). This aligns with the area’s broader suburban profile and supports resident retention and property operations.
Property offenses benchmark better than most neighborhoods nationally, though the most recent year showed an uptick from a low base. Investors should monitor trend direction alongside Columbus metro comparisons to ensure insurance, security measures, and budgeting remain calibrated to current conditions.
The area benefits from a deep white-collar employment base anchored by healthcare and retail corporate offices nearby, which supports weekday demand and short commute times for renters. Notable employers include Cardinal Health’s campuses and regional headquarters, plus L Brands and Big Lots headquarters within a commutable radius.
- Cardinal Health — corporate offices (2.5 miles) — HQ
- Cardinal Health — corporate offices (2.8 miles)
- Fuse by Cardinal Health — corporate innovation center (2.9 miles)
- L Brands — corporate offices (12.0 miles) — HQ
- Big Lots — corporate offices (12.5 miles) — HQ
This 32-unit property built in 1994 is positioned in a top-tier Powell neighborhood where high household incomes, elite school performance, and elevated ownership costs reinforce multifamily demand. According to CRE market data from WDSuite, the surrounding neighborhood has sustained low-90s occupancy with rents above metro norms, indicating stable renter depth and pricing power relative to older product nearby.
The vintage is slightly older than the neighborhood average, suggesting targeted capital planning and selective renovations could enhance competitive positioning and support rent premiums without over-improving for the submarket. Within a 3-mile radius, continued growth in population and households expands the tenant base, while a roughly one-third renter-occupied share supports steady absorption and retention. Key risks to underwrite include monitoring the recent uptick in property offenses and keeping an eye on any metro-wide softening that could pressure lease-up velocity.
- Top-performing Powell location with elite schools and strong amenities
- Neighborhood occupancy in the low-90s and rents above metro norms
- 1994 vintage offers value-add/modernization levers to boost competitiveness
- 3-mile growth in households enlarges the tenant base and supports absorption
- Risk: monitor property offense trends and potential metro-level softening