| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 37th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 250 Hillcrest Dr, Lancaster, OH, 43130, US |
| Region / Metro | Lancaster |
| Year of Construction | 1972 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
250 Hillcrest Dr Lancaster, Ohio Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a deeper tenant base and steady leasing, according to WDSuite’s CRE market data. Location fundamentals and everyday amenities suggest durable renter demand relative to comparable inner-suburb submarkets.
This inner-suburb location in Lancaster offers daily convenience that supports renter retention. Neighborhood amenity density is strong for groceries, dining, and cafes, while park space and formal childcare options are limited. These patterns typically favor properties positioned for workforce housing with value in proximity rather than lifestyle-driven green space.
The neighborhood shows a high share of renter-occupied units, indicating a sizable tenant pool for multifamily. Neighborhood occupancy trends sit closer to the middle of the pack for the Columbus metro, and lease-up velocity should benefit from the area’s food and retail access. Median rent levels in the neighborhood track to the more accessible end of the metro, which can aid absorption while still leaving room for targeted premium where renovations justify it.
Within a 3-mile radius, population and household counts have been rising and are projected to continue growing, expanding the local renter pool. This outlook, sourced from WDSuite’s CRE market data, points to more households entering the market, which supports occupancy stability and sustained demand for rental units.
The property’s 1972 vintage is older than the neighborhood average stock (1980s), which suggests investors should plan for capital expenditures and consider renovation programs to enhance competitiveness against newer product. In a high renter-concentration area with solid everyday amenities, well-executed upgrades can translate into improved positioning and pricing power while maintaining leasing momentum.
For context, neighborhood performance indicators land around the national middle on housing and overall scores, with stronger showings in food/retail access and a comparatively high renter share. Investors should underwrite with balanced assumptions: everyday convenience supports demand, while limited parks and childcare mean the submarket skews more toward practical accessibility than recreational amenity depth.
Safety indicators for the neighborhood are generally around the national midpoint, with recent year-over-year declines in both property and violent offense estimates, according to WDSuite’s data. This directional improvement supports leasing stability without implying block-level outcomes.
Framed comparatively, the area trends slightly safer than the national average and has posted meaningful improvement over the past year, which can help resident retention and reduce turnover risk. As always, investors should pair neighborhood-level metrics with on-site management practices and property-specific measures.
Nearby employers span corporate services and distribution, providing a diversified employment base that supports workforce housing demand and commute convenience for renters. Highlighted below are representative corporate offices within commuting range that can underpin leasing stability.
- Avnet Services — corporate offices (17.2 miles)
- The Xerox Company — corporate offices (17.4 miles)
- Avnet Services - LifeCycle Solutions — corporate offices (17.7 miles)
- Dr Pepper Snapple Group — corporate offices (23.3 miles)
- Wesco Distribution — corporate offices (24.8 miles)
250 Hillcrest Dr is a 60-unit, 1972-vintage asset positioned in a neighborhood with strong everyday amenities and a high share of renter-occupied housing units. Based on CRE market data from WDSuite, the area’s grocery, restaurant, and cafe access supports daily convenience—an important driver for workforce-oriented leasing—while recent neighborhood-level safety trends have improved. Demographics aggregated within a 3-mile radius point to ongoing population and household growth, which can expand the tenant base and support occupancy stability.
The 1972 vintage is older than nearby stock on average, creating a clear value-add path through targeted renovations and capital planning to compete with newer assets. Neighborhood rent levels align with more accessible segments of the metro, which can help absorption and retention; investors should underwrite balanced rent growth and consider amenity and systems upgrades to capture selective premiums. Risks to monitor include mid-pack neighborhood occupancy, limited parks/childcare depth, and the CapEx needs that come with older buildings.
- High renter concentration and strong daily amenities support a deeper tenant base
- 1972 vintage enables value-add through renovations and systems upgrades
- 3-mile radius shows ongoing population and household growth, supporting occupancy stability
- Neighborhood rent levels allow absorption with room for selective premiums where upgrades justify
- Risks: mid-pack occupancy, limited parks/childcare, and CapEx requirements for older construction