| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 39th | Poor |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2750 W Fair Ave, Lancaster, OH, 43130, US |
| Region / Metro | Lancaster |
| Year of Construction | 1987 |
| Units | 43 |
| Transaction Date | 2021-05-28 |
| Transaction Price | $7,376,700 |
| Buyer | WELL PATH LANDLORD LLC |
| Seller | NRFHC LANCASTER II LLC |
2750 W Fair Ave Lancaster Multifamily Investment, 1987 Vintage
Neighborhood occupancy is solid for the Columbus metro context, supporting steady leasing at this suburban Lancaster location, according to WDSuite s CRE market data. With a 1987 build and a manageable 43 units, the asset lends itself to targeted upgrades aimed at rent and retention gains without overextending capital plans.
This rural-edge neighborhood in the Columbus, OH metro trends above the national middle on occupancy, and WDSuite indicates the neighborhood s occupancy is competitive among peer areas. The area s construction skew is newer than the property (average around the early 2000s), positioning a 1987-vintage asset for value-add modernization to remain competitive against younger stock.
Renter concentration varies by lens. At the neighborhood level, renter-occupied housing is lower, signaling a more owner-heavy pocket that can support stability. Within a 3-mile radius, roughly a third of housing units are renter-occupied, indicating a meaningful tenant base for multifamily leasing. This mix points to steady demand depth while limiting head-to-head competition from dense rental clusters.
Livability features are modest locally (few walkable amenities), so most residents drive for daily needs. That said, the submarket s household incomes sit around the national middle, and rent-to-income metrics trend favorable for operators, supporting retention and measured pricing power. Home values are similarly near national mid-range, which in practice sustains reliance on rental options while not overly constraining move-up pathways.
Demographics within a 3-mile radius show population and household growth over recent years with further expansion projected, implying a larger tenant base over the medium term. These dynamics, combined with metro-level stability, support a pragmatic leasing outlook grounded in data-driven multifamily property research from WDSuite.
Compared with Columbus metro neighborhoods (580 total), this area ranks competitive on safety, landing in a stronger cohort than many peers. Nationally, it trends above average for safety, and recent WDSuite indicators show year-over-year declines in both property and violent offense rates, reinforcing a constructive trajectory rather than a guarantee.
Investors should view these signals as supportive of leasing stability and resident retention while still underwriting prudently, as safety conditions can shift with broader regional trends.
Proximity to established employers across business services, consumer products, and utilities underpins workforce housing demand and supports commute convenience for residents. Featured employers include Avnet Services, The Xerox Company, Dr Pepper Snapple Group, American Electric Power, and Nationwide.
- Avnet Services electronics distribution & services (15.9 miles)
- The Xerox Company business services (16.1 miles)
- Dr Pepper Snapple Group beverages (22.6 miles)
- American Electric Power electric utility (24.7 miles) HQ
- Nationwide insurance (24.8 miles) HQ
The investment case centers on stable neighborhood fundamentals with room to enhance performance through targeted renovations. Built in 1987, the property is older than much of the surrounding stock, suggesting capital programs focused on interiors, systems, and common areas could bolster competitive positioning against early-2000s product. Neighborhood occupancy trends above the national middle and renter demand is supported by a sizable 3-mile tenant base, while rent-to-income readings indicate manageable affordability pressure that can aid retention.
Forward-looking demographics within a 3-mile radius point to population and household growth, expanding the renter pool and supporting lease-up and renewal prospects. According to CRE market data from WDSuite, the area s safety trajectory and balanced home value context further reinforce steady operations, though modest nearby amenities mean residents rely on driving for goods and services—an underwriting consideration rather than a deterrent.
- Occupancy in the neighborhood trends above national middle, supporting leasing stability
- 1987 vintage offers clear value-add pathways versus newer early-2000s comparables
- 3-mile population and household growth expands the tenant base over the medium term
- Favorable rent-to-income context supports retention and measured pricing power
- Risk: limited walkable amenities; residents drive for daily needs—underwrite accordingly