| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 46th | Fair |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1690 Chartwell Dr, Lancaster, OH, 43130, US |
| Region / Metro | Lancaster |
| Year of Construction | 2001 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1690 Chartwell Dr Lancaster Multifamily Investment
Neighborhood occupancy trends point to steady renter demand and a durable tenant base, according to CRE market data from WDSuite. A higher share of renter-occupied housing in the immediate area further supports leasing stability for a 50-unit asset.
Located in Lancaster's Inner Suburb within the Columbus, OH metro, the neighborhood carries a B rating and sits above the metro median (ranked 250 of 580 neighborhoods), suggesting balanced fundamentals and competitive positioning for workforce-oriented multifamily.
Livability is supported by everyday conveniences more than lifestyle retail: park access and grocery presence track above national midpoints (parks around the upper quartile; groceries solidly above average), while cafes and pharmacies are limited. Average school ratings trend below national midpoints, which may modestly affect family-driven leasing decisions but tends to align with workforce housing demand profiles.
For investors, local rental dynamics are the key story. Neighborhood occupancy is healthy relative to national norms, and the share of housing units that are renter-occupied is high versus peers (around the top decile nationally), indicating a deep tenant pool and potential for retention. Median contract rents in the area remain accessible in context, and rent-to-income levels suggest manageable affordability pressure—a positive for renewal strategies and pricing discipline.
Demographic statistics are aggregated within a 3-mile radius: recent years show a slight population contraction alongside a stable household count, implying smaller household sizes and continued reliance on rental options. Forward-looking data point to growth in households and incomes over the next five years, with rents expected to trend upward—together indicating a larger tenant base and support for occupancy stability.
Vintage considerations: the property's 2001 construction is slightly older than the neighborhood's early-2000s average stock. Investors should plan for selective modernization and systems updates to compete effectively with newer deliveries while capturing value-add upside where finishes or common areas can be refreshed.
Safety indicators show a mixed but improving picture. Within the Columbus metro, the neighborhood's safety rank sits closer to the higher-crime cohort (rank 63 of 580), yet nationally it compares above average for overall safety. Recent year-over-year declines in both property and violent offense estimates suggest momentum in the right direction, which can support leasing and retention if the trend persists.
Investors should underwrite with neighborhood-level context: view safety on a relative basis versus the metro and national benchmarks, emphasize on-site measures and lighting, and monitor local trends as part of ongoing asset management.
Employment access is driven by regional corporate offices across technology distribution, business services, and retail, supporting commuter convenience and a steady renter pipeline. Nearby employers include Avnet Services, The Xerox Company, Avnet Services - LifeCycle Solutions, Wesco Distribution, and L Brands.
- Avnet Services — technology distribution (20.2 miles)
- The Xerox Company — business services (20.4 miles)
- Avnet Services - LifeCycle Solutions — technology distribution (20.5 miles)
- Wesco Distribution — industrial distribution (26.8 miles)
- L Brands — retail corporate offices (27.9 miles) — HQ
This 50-unit property benefits from neighborhood fundamentals that support stable operations: solid occupancy at the neighborhood level, a high concentration of renter-occupied housing units, and everyday amenities that favor workforce tenants. According to CRE market data from WDSuite, the area's relative positioning within the metro is above the median, while nationally it reads as steady with improving safety trends—a setup conducive to consistent leasing and retention.
Constructed in 2001, the asset is slightly older than nearby early-2000s stock, creating potential for targeted value-add through interior refreshes and common-area upgrades to enhance competitiveness against newer alternatives. Within a 3-mile radius, households and incomes are expected to grow even as household sizes shrink, expanding the renter pool and supporting rent trajectories over the medium term. Ownership costs in the broader area are not low by national standards, which tends to sustain reliance on multifamily rentals and supports pricing power when paired with prudent lease management.
- Healthy neighborhood occupancy and high renter-occupied share support steady leasing
- 2001 vintage offers value-add potential via selective modernization
- 3-mile household and income growth point to a larger tenant base and rent support
- Everyday amenities (parks, groceries) align with workforce demand; limited cafes/pharmacies are a leasing consideration
- Risks: metro-relative safety rank and below-average school ratings warrant active management and underwriting discipline