| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 37th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 307 Scotland Pl, Lancaster, OH, 43130, US |
| Region / Metro | Lancaster |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 1988-02-01 |
| Transaction Price | $712,500 |
| Buyer | --- |
| Seller | --- |
307 Scotland Pl Lancaster OH Multifamily Opportunity
Neighborhood renter concentration supports a stable tenant base, while amenity access is strong for its submarket, according to WDSuite’s CRE market data.
Lancaster’s inner-suburb setting offers daily convenience: restaurant and grocery density rank competitively among the 580 Columbus metro neighborhoods, and both sit in the top quartile nationally by concentration. That mix supports day-to-day livability and helps properties capture local renter demand without relying on long commutes.
Renter-occupied housing accounts for a majority share at the neighborhood level, indicating a deep tenant pool; this renter concentration ranks competitive among Columbus neighborhoods and underpins leasing durability for small assets. By contrast, the area’s overall occupancy rate trends below the metro median, so operators should plan for active leasing and renewal management to sustain performance.
Within a 3-mile radius, recent population and household growth have been positive and are projected to accelerate over the next five years, signaling a larger tenant base and potential support for occupancy stability. Income trends in the same 3-mile radius are rising, while rent-to-income levels remain moderate, which can aid retention and reduce turnover risk relative to higher-cost submarkets.
On cost dynamics, home values in the neighborhood are lower than many U.S. areas (below the national median), which can introduce some competition from ownership. Even so, the combination of amenity access and a sizable renter-occupied share supports ongoing multifamily demand, while NOI performance metrics for the neighborhood rank in the top quartile among 580 Columbus neighborhoods, indicating competitive income potential for well-managed assets.
Safety indicators here are mixed in a way typical of inner-suburb locations. The neighborhood’s crime rank sits on the higher-crime side within the Columbus metro (a lower rank among 580 neighborhoods indicates more crime), yet national comparisons place the area slightly above the U.S. median for safety. For investors, this suggests market-typical risk rather than an outlier.
Trend data is constructive: both property and violent offense estimates show meaningful year-over-year declines, placing the neighborhood in higher national percentiles for improvement. Framed for underwriting, that trajectory can ease perception risk over time, though prudent security measures and lighting/visibility still support resident retention and leasing.
Regional employment is anchored by corporate offices within commuting range, supporting workforce housing demand and lease retention. Notable nearby employers include Avnet Services, The Xerox Company, Dr Pepper Snapple Group, American Electric Power, and Nationwide.
- Avnet Services — corporate offices (16.8 miles)
- The Xerox Company — corporate offices (17.0 miles)
- Dr Pepper Snapple Group — corporate offices (23.0 miles)
- American Electric Power — corporate offices (25.4 miles) — HQ
- Nationwide — corporate offices (25.4 miles) — HQ
307 Scotland Pl benefits from a renter-heavy neighborhood, competitive amenity access, and proximity to major employment nodes. While neighborhood occupancy trends run below the metro median, moderate rent-to-income levels and growing 3-mile demographics point to demand that can support stabilized operations with attentive leasing strategy, based on CRE market data from WDSuite.
Relative to national ownership costs, the area remains a high-utility, lower-cost market, which can create competition from entry-level ownership but also broadens the pool of residents who rely on multifamily housing. For investors, the mix of amenity convenience, workforce access, and top-quartile neighborhood income metrics (NOI rank) supports an execution focused on operational discipline and resident retention.
- Deep renter base and competitive amenity access support ongoing multifamily demand
- 3-mile population and household growth expand the tenant pool and help support occupancy stability
- Proximity to regional employers underpins leasing and renewal opportunities
- Risk: Neighborhood occupancy trails metro median; active leasing and renewals are important
- Risk: Lower ownership costs can compete with rentals; positioning and service quality matter