| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 59th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1834 Countryside Dr, Lancaster, OH, 43130, US |
| Region / Metro | Lancaster |
| Year of Construction | 2006 |
| Units | 92 |
| Transaction Date | 2015-07-31 |
| Transaction Price | $21,000,000 |
| Buyer | NHI-Bickford RE LLC |
| Seller | The Inn at Fairfield Village |
1834 Countryside Dr Lancaster OH Multifamily Investment
Neighborhood occupancy trends point to steady renter demand in a lower-amenity, rural pocket of the Columbus metro, according to WDSuite’s CRE market data. For investors, the combination of stable occupancy and newer vintage supports a straightforward operations-focused thesis.
Lancaster’s rural setting offers quieter living with limited immediate amenities, as indicated by low food-and-retail density relative to the Columbus metro (ranked below the metro median among 580 neighborhoods). Park access tests stronger, sitting in a higher national percentile than most local amenities, which can aid livability despite the amenity-light profile.
The neighborhood’s occupancy rate is above the national median, a constructive signal for lease stability at this location. Within a 3-mile radius, an estimated 40.6% of housing units are renter-occupied, indicating a meaningful tenant base for multifamily operators and supporting ongoing leasing activity.
Vintage and competitive positioning: built in 2006, the asset is newer than the neighborhood’s average construction year of 1989. That generally enhances competitive standing versus older local stock, while still warranting mid-life capital planning for systems upgrades and targeted common-area refreshes to preserve rentability.
Home values in the neighborhood sit near the national midpoint, and the value-to-income ratio is lower than many U.S. areas. In practice, a relatively accessible ownership market can create some competition with entry-level homebuying, so multifamily pricing and retention strategies should emphasize convenience, professional management, and unit quality.
Demographics within a 3-mile radius show modest recent population gains with forecasts calling for additional population growth and a notable increase in households alongside smaller average household sizes. For investors, this points to potential renter pool expansion and steady demand for professionally managed apartments, particularly efficient one- and two-bedroom layouts.
Safety indicators are mixed. The neighborhood’s overall crime rank is competitive among Columbus neighborhoods (ranked 229 out of 580), yet national comparisons place it below the midpoint, signaling that investors should underwrite prudent security and operating practices.
Property-related offenses trend closer to the national median or better, while violent offense measures sit below national medians and have recently moved higher. Framing this at the portfolio level, investors often mitigate risk through lighting, access controls, and resident engagement, calibrated to submarket norms rather than block-level assumptions.
Proximity to Columbus-area corporate offices supports workforce housing demand and commute convenience, with notable employers spanning technology services, consumer brands, and utilities headquartered in the urban core.
- Avnet Services — technology services (19.1 miles)
- The Xerox Company — technology services (19.2 miles)
- Dr Pepper Snapple Group — consumer products (24.4 miles)
- L Brands — retail & consumer brands (27.1 miles) — HQ
- American Electric Power — utilities (27.1 miles) — HQ
This 92-unit, 2006-vintage property pairs stable neighborhood occupancy with a newer-than-average build for the area, supporting a durable, operations-led thesis. According to CRE market data from WDSuite, the neighborhood’s occupancy sits above national medians, while a 3-mile renter-occupied share near two-fifths indicates sufficient depth in the tenant base. Forecasts show population growth and a sizable increase in households alongside smaller household sizes, which can underpin demand for well-managed, efficient units.
The amenity-light rural context and relatively accessible ownership market suggest disciplined pricing and retention strategies are important. Mid-life capital planning—targeted interior refreshes, common-area updates, and systems maintenance—can further differentiate the asset versus older local stock and support leasing stability over a long hold.
- Newer-than-area vintage (2006) enhances competitiveness versus older neighborhood stock
- Neighborhood occupancy above national median supports steady leasing and retention
- 3-mile renter concentration provides a meaningful tenant base with potential renter pool expansion
- Practical value-add via mid-life systems upkeep and selective interior/common-area upgrades
- Risks: amenity-light rural location, accessible ownership alternatives, and mixed safety trends require disciplined operations and underwriting