| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 71st | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7238 Springoak Ct, Pickerington, OH, 43147, US |
| Region / Metro | Pickerington |
| Year of Construction | 2004 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7238 Springoak Ct Pickerington Multifamily Opportunity
Neighborhood occupancy is elevated and has trended higher in recent years, supporting income stability for a 24-unit asset, according to WDSuite s CRE market data. Investor focus here is steady renter demand in an inner-suburban location rather than outsized rent growth.
Located in Pickerington within the Columbus, OH metro, the neighborhood carries an A rating and ranks 65th out of 580 metro neighborhoods. That places it competitive among Columbus neighborhoods on overall fundamentals, with particularly strong occupancy at the neighborhood level (94th percentile nationally) that points to durable leasing performance for multifamily.
Livability leans suburban: restaurants are relatively accessible (86th percentile nationally), while daily-needs retail like pharmacies and parks also score well (around the 80th percentile). Caf e9 and grocery density is limited locally, so most residents likely drive for errands, which is typical of inner suburbs in the region.
Renter concentration in the immediate neighborhood is modest (about one-quarter of housing units are renter-occupied), which can temper near-field leasing depth. However, demographics aggregated within a 3-mile radius indicate a larger tenant base: households and families have grown over the past five years, and projections call for continued population growth alongside a notable increase in households, implying smaller household sizes and a broader pool of potential renters over time.
On pricing and affordability, neighborhood median contract rents and household incomes rank above the metro median, and the rent-to-income ratio near 0.16 suggests manageable affordability pressure for tenants. Median home values sit close to national medians, creating a high-cost ownership context relative to local incomes that helps sustain multifamily demand and lease retention without relying on aggressive rent premiums.
The property b4s 2004 construction is slightly newer than the area b4s average vintage (around 2000), offering relative competitiveness versus older stock while still warranting selective modernization and capital planning for aging systems to support future rent positioning.
Safety indicators are mixed and should be contextualized at the neighborhood level. Within the Columbus metro, the neighborhood b4s crime rank sits near the middle of 580 neighborhoods, while national percentiles suggest below-average safety compared with neighborhoods nationwide. Violent offense rates benchmark in the lower national percentiles, whereas property offense rates also trend on the weaker side but have edged down year over year.
For investors, this points to routine risk management rather than a disqualifier: emphasize lighting, access controls, and resident engagement, and underwrite retention with prudent concessions planning. Always evaluate trends across the wider trade area rather than block-level conclusions.
The area draws from a diversified employment base that supports commuter convenience and renter demand, including Avnet Services, Dr Pepper Snapple Group, L Brands, Nationwide, and American Electric Power.
- Avnet Services - LifeCycle Solutions corporate offices (7.4 miles)
- Dr Pepper Snapple Group corporate offices (8.0 miles)
- Avnet Services corporate offices (8.3 miles)
- L Brands corporate offices (11.1 miles) HQ
- Nationwide corporate offices (11.5 miles) HQ
This 24-unit, 2004-vintage asset in Pickerington benefits from neighborhood occupancy in the top quartile nationally and competitive rankings within the Columbus metro, supporting steady cash flow prospects. According to CRE market data from WDSuite, the submarket shows above-median household incomes and rent levels with a rent-to-income profile that supports retention and disciplined rent growth. Immediate renter concentration is lower than core urban nodes, but the 3-mile area shows population and household expansion, indicating a broader renter pool over the hold period.
The vintage offers relative competitiveness versus older stock, with scope for targeted value-add through interior updates and systems refresh to sustain pricing power. Amenity access is suburban, with strong restaurant and daily-needs coverage but thinner caf e9/grocery density, which should be reflected in positioning and marketing. Risk considerations include mixed safety benchmarks and a modest immediate renter base; mitigate through operational focus on tenant experience, security, and renewal management.
- High neighborhood occupancy and above-median incomes support leasing stability
- 2004 vintage enables targeted value-add to enhance competitive positioning
- 3-mile demographics point to renter pool expansion and sustained demand
- Suburban amenity mix with strong restaurants and daily-needs access
- Risks: mixed safety metrics and modest immediate renter concentration require active management