| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 46th | Fair |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1410 Sheridan Dr, Lancaster, OH, 43130, US |
| Region / Metro | Lancaster |
| Year of Construction | 1972 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1410 Sheridan Dr, Lancaster OH Multifamily Investment
Neighborhood indicators point to steady renter demand with occupancy in the low 90s and just over half of housing units renter-occupied, according to WDSuite's CRE market data. This supports a durable tenant base and pragmatic rent management for a 52-unit asset in Fairfield County.
The property sits in an Inner Suburb of the Columbus, OH metro with a B neighborhood rating and a rank of 250 out of 580 metro neighborhoods, above the metro median. For investors, that positioning signals balanced fundamentals rather than a fringe outlier, helping underwriting assumptions around leasing and tenant retention.
Livability is anchored by parks and everyday retail access rather than lifestyle density. Park access ranks in the top quartile nationally, and grocery presence is above the national midpoint, while cafes and pharmacies are comparatively sparse. Average school ratings in the area are below national median levels, a consideration for asset positioning and tenant profile.
For-rent dynamics are constructive: neighborhood occupancy trends sit in the low 90s, and the renter-occupied share is about 52%, indicating meaningful renter concentration and a deeper tenant base for multifamily. Median home values are moderate for the region, which can temper move-outs to ownership and support lease retention, while a rent-to-income profile near one-fifth suggests manageable affordability pressure and room for disciplined rent growth.
Demographic trends within a 3-mile radius show a slight population dip recently but a projected increase in households alongside smaller average household sizes. That pattern typically expands the renter pool and supports occupancy stability. WDSuite's commercial real estate analysis also points to rising asking rents locally over the next five years, reinforcing the case for consistent income performance if unit finishes and amenities remain competitive.
Vintage and value-add: Built in 1972 in a submarket where the average construction year skews newer (2003), the asset is older than nearby stock. Investors should plan for targeted capital expenditures; in exchange, there is potential renovation and repositioning upside relative to newer comparables.
Safety metrics present a mixed but improving picture. Within the Columbus metro, the neighborhood's crime ranking (63 out of 580 neighborhoods) places it below the metro median for safety. Nationally, however, aggregate indicators align closer to the safer top third of neighborhoods, suggesting comparatively better standing versus many U.S. areas.
Trend-wise, both violent and property offense rates have declined materially over the past year, according to WDSuite's CRE market data. For investors, the direction of change is constructive for retention and leasing, though prudent security and on-site management practices remain advisable.
The employment base within commuting range mixes technology/services and corporate headquarters, supporting workforce housing demand and commute convenience for renters. Nearby employers include Avnet Services, The Xerox Company, Dr Pepper Snapple Group, L Brands, and American Electric Power.
- Avnet Services — technology services (20.1 miles)
- The Xerox Company — business services (20.3 miles)
- Dr Pepper Snapple Group — beverage distribution (25.4 miles)
- L Brands — retail & corporate (28.1 miles) — HQ
- American Electric Power — utilities (28.2 miles) — HQ
1410 Sheridan Dr offers a pragmatic workforce housing play in Fairfield County with neighborhood occupancy in the low 90s and a renter concentration around half of housing units. According to CRE market data from WDSuite, local renters benefit from moderate ownership costs and manageable rent-to-income levels, which can support retention while permitting measured rent movement. The asset's 1972 vintage is older than much of the nearby stock, creating clear value-add pathways through interior upgrades and systems modernization.
Within a 3-mile radius, WDSuite indicates households are poised to grow even as average household size trends lower, a combination that typically expands the renter pool and supports occupancy stability. Forward-looking rent benchmarks point to additional asking rent gains over the next five years, which, paired with targeted renovations, can enhance revenue consistency relative to older Class B competitors. Key watch items include thinner lifestyle amenities, below-median school ratings, and a metro-relative safety standing that warrants continued operational attention.
- Steady neighborhood demand: low-90s occupancy and meaningful renter concentration support leasing stability
- Value-add potential: 1972 vintage offers renovation upside versus newer nearby stock
- 3-mile trends: projected household growth and smaller household sizes expand the renter pool
- Pricing power: rent benchmarks are projected to rise over five years, aiding revenue management
- Risks: thinner amenity density, below-median school ratings, and metro-relative safety that requires ongoing attention