| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 54th | Fair |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 Jericho Rd, Pickerington, OH, 43147, US |
| Region / Metro | Pickerington |
| Year of Construction | 1991 |
| Units | 33 |
| Transaction Date | 1990-12-03 |
| Transaction Price | $71,700 |
| Buyer | UN CHURCH RESIDENCES OF |
| Seller | --- |
310 Jericho Rd, Pickerington, Ohio Multifamily Investment
Neighborhood occupancy is persistently high, supporting stable cash flows relative to the Columbus metro, according to WDSuite’s CRE market data. With suburban fundamentals and steady renter demand, this location emphasizes income durability over speculative upside.
Pickerington’s suburban profile leans toward stability: the neighborhood posts a high occupancy rate and ranks competitively among the 580 Columbus neighborhoods, while sitting in the upper national percentiles for occupancy. For investors, this points to dependable lease-up and retention dynamics rather than volatility.
Everyday convenience is moderate. Grocery access tracks near the national middle, but cafes, parks, and pharmacies are sparse nearby, which is typical of lower-density suburbs. School ratings in the area trend below the national median; investors should calibrate tenant expectations accordingly and focus on product positioning that resonates with households prioritizing space and value.
Tenure patterns indicate a measured renter concentration: WDSuite data shows the neighborhood’s share of renter-occupied housing units is in the mid-20% range, implying a defined—but not oversupplied—tenant base for a 33-unit asset. This usually supports demand consistency for well-managed multifamily while limiting overreliance on transient renters.
Within a 3-mile radius, population and households have expanded in recent years, and WDSuite’s outlook anticipates further increases in both households and incomes. This growth suggests a gradually larger tenant base and potential support for rent levels over time, particularly for properties that maintain quality and service standards. Home values sit in a mid-range context for the region, and a low rent-to-income ratio indicates relatively low affordability pressure, aiding lease retention and reducing turnover risk.
Safety trends compare favorably in a regional context. The neighborhood’s crime rank places it above the metro average among 580 Columbus neighborhoods, and national percentiles suggest it performs better than many areas nationwide. Recent year-over-year estimates indicate declines in both violent and property offenses, underscoring an improving local trend rather than a short-term anomaly.
Specifically, WDSuite data shows estimated violent incidents trending down markedly year over year and property offenses also decreasing. While conditions can vary by block and over time, these directional improvements provide helpful context for underwriting resident retention and operating risk.
Proximity to corporate employers supports a commuter-friendly renter pool and helps underpin leasing stability. Notable nearby names include Avnet Services - LifeCycle Solutions, Avnet Services, The Xerox Company, Dr Pepper Snapple Group, and L Brands.
- Avnet Services - LifeCycle Solutions — corporate offices (8.9 miles)
- Avnet Services — corporate offices (9.5 miles)
- The Xerox Company — corporate offices (9.6 miles)
- Dr Pepper Snapple Group — corporate offices (10.4 miles)
- L Brands — corporate offices (13.1 miles) — HQ
This 33-unit property, built in 1991, is older than the neighborhood’s average vintage, creating clear value-add and capital planning angles while benefiting from a suburban location with strong occupancy signals. Based on CRE market data from WDSuite, neighborhood occupancy stands in a high national percentile and ranks competitively within the Columbus metro, reinforcing an income-focused thesis centered on retention and steady leasing rather than speculative rent spikes.
Demand is supported by a measured renter-occupied housing share and expanding 3-mile household counts and incomes, which point to a larger and higher-earning tenant base over time. Affordability appears manageable given a low rent-to-income ratio, which can bolster lease renewal rates. Offsetting factors include limited nearby amenities and below-median school ratings, which place a premium on operational execution, product quality, and service to sustain pricing power.
- High neighborhood occupancy supports stable cash flow and leasing
- 1991 vintage offers value-add and CapEx repositioning potential
- 3-mile population and household growth expand the tenant base
- Low rent-to-income ratio supports retention and reduces churn risk
- Risks: sparse nearby amenities and lower school ratings require careful positioning