| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 39th | Fair |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 330 Trace Dr, Lancaster, OH, 43130, US |
| Region / Metro | Lancaster |
| Year of Construction | 1977 |
| Units | 51 |
| Transaction Date | 2009-12-15 |
| Transaction Price | $1,090,600 |
| Buyer | NEW HUNTERWOOD PARK LTD |
| Seller | HUNTERWOOD PARK LTD |
330 Trace Dr Lancaster OH Multifamily Investment
Neighborhood occupancy is elevated with a stable renter base, according to WDSuite’s CRE market data, supporting durable demand for this 51-unit asset in Lancaster.
Located in suburban Lancaster within the Columbus, OH metro, the neighborhood posts a high occupancy rate at the neighborhood level and sits in the top quartile nationally for occupancy. Median contract rents are modest relative to national benchmarks, and the rent-to-income ratio near 0.14 suggests manageable affordability pressure that can aid lease retention and reduce turnover risk.
Amenity access is mixed: park and cafe density are competitive (both around the top quartile nationally), while neighborhood grocery and pharmacy options are limited, implying residents may rely on nearby commercial corridors for daily needs. Average school ratings trend below national medians, which is a consideration for family-oriented leasing strategies.
Vintage is 1977, roughly a decade older than the neighborhood’s average construction year. For investors, that points to capital planning needs and potential value‑add or modernization upside to enhance competitive positioning against newer stock.
Within a 3‑mile radius, demographics show a growing tenant base: population increased about 1.8% over the last five years, households rose roughly 3.7%, and projections indicate further renter pool expansion through 2028 alongside rising incomes. The 3‑mile renter‑occupied share near 41% underscores a sizable base of multifamily demand, while median home values in this high‑cost ownership market for the area remain comparatively accessible versus large coastal metros, which can shape pricing power and renewal strategy.
Crime conditions are broadly near the metro average and around the national midpoint. The neighborhood’s crime rank is competitive among Columbus neighborhoods (280 out of 580 overall rating context; crime-specific rank indicates better positioning than roughly one‑third of the metro), and national percentiles land in the mid‑30s to mid‑40s depending on category, signaling neither an outlier risk nor a top‑tier safety profile.
Recent trends are mixed: estimated property offenses declined meaningfully year over year (a favorable direction), while estimated violent offenses ticked up slightly. Investors should underwrite with current operating practices and consider security, lighting, and resident engagement as part of risk management.
Regional employment anchors within commuting distance include technology services, office equipment, beverages, and major utilities/insurance headquarters, supporting workforce housing demand and commute convenience for renters.
- Avnet Services — technology services (18.1 miles)
- The Xerox Company — office equipment & services (18.3 miles)
- Dr Pepper Snapple Group — beverages (24.7 miles)
- American Electric Power — utilities (26.9 miles) — HQ
- Nationwide — insurance (27.0 miles) — HQ
330 Trace Dr offers investors exposure to a suburban Columbus submarket where neighborhood occupancy trends are strong and rents remain relatively attainable, supporting retention and consistent collections. Based on CRE market data from WDSuite, occupancy at the neighborhood level is above national medians, and the 1977 vintage creates scope for targeted renovations to drive rent premiums and reduce CapEx uncertainty through planned upgrades.
Within a 3‑mile radius, the combination of recent household growth and projected increases in population and incomes points to a larger tenant base over the next cycle. Amenity access favors parks and cafes, while limited grocery/pharmacy nearby and below‑average school ratings are underwriting considerations. Safety metrics track close to metro norms with mixed short‑term trends, warranting standard operational controls rather than extraordinary measures.
- High neighborhood occupancy supports leasing stability and pricing discipline
- 1977 vintage presents value‑add potential via unit and system upgrades
- 3‑mile household and income growth expand the renter pool over the forecast period
- Attainable rent levels and moderate rent‑to‑income support retention and collections
- Risks: limited neighborhood grocery/pharmacy, below‑average school ratings, and mixed safety trends