| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 52nd | Fair |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2727 Grand Haven Dr, Reynoldsburg, OH, 43068, US |
| Region / Metro | Reynoldsburg |
| Year of Construction | 1991 |
| Units | 80 |
| Transaction Date | 2006-12-22 |
| Transaction Price | $5,369,200 |
| Buyer | EDGEWATER APARTMENTS LLC |
| Seller | AERC PENDLETON INC |
2727 Grand Haven Dr Reynoldsburg Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand and high occupancy, supporting durable cash flow potential, according to WDSuite’s CRE market data; these are neighborhood indicators, not property-level results.
Reynoldsburg’s inner-suburban setting offers everyday convenience that supports tenant retention. Cafes and restaurants score well versus national peers (cafes around the 95th percentile and restaurants near the 80th percentile nationally), with grocery and pharmacy access also strong (both around the 80–90th percentiles). Park access is limited, which may modestly temper lifestyle appeal for outdoor-focused renters.
Neighborhood occupancy is elevated at the area level, ranking 221 out of 580 Columbus metro neighborhoods, which places it above the metro median and in the upper tiers nationally. The share of housing that is renter-occupied is notably high (a top-ranked reading within the metro), indicating a deep renter base and potential leasing stability; this reflects neighborhood tenure, not the property’s own occupancy.
The property was built in 1991, while the neighborhood’s average construction year skews newer (2002; competitive among Columbus neighborhoods at rank 56 of 580 and high nationally). The older vintage suggests investors should plan for capital improvements and also consider value-add renovations to enhance relative positioning versus newer stock.
Within a 3-mile radius, population grew roughly 9% over the last five years and households increased about 10%, with further gains projected through 2028; this expansion supports a larger tenant base and helps underpin occupancy. Median household income has risen, and rents have advanced from an estimated $781 historically to about $1,000 recently, with forecasts pointing higher—factors that support rent growth while also necessitating careful affordability management.
Ownership costs sit in a higher-value context relative to local incomes (value-to-income ratio in a high national percentile), which tends to sustain renter reliance on multifamily housing. At the same time, rent-to-income readings indicate some affordability pressure, suggesting operators should manage renewals and lease trade-outs thoughtfully to support retention.
Safety indicators are mixed when compared with broader benchmarks. The neighborhood’s overall crime profile ranks 333 out of 580 Columbus metro neighborhoods, indicating below-metro-average safety, and it sits in the lower national percentiles. Violent incident levels are also below the national median (around the lower third nationally), while property offenses trend weaker (near the lower decile nationwide). Year over year, reported violent offenses rose and property offenses increased modestly. These are neighborhood-level trends rather than block-specific conditions, and investors typically account for them with security measures, lighting, and resident engagement practices.
Nearby corporate offices provide a broad employment base that supports workforce housing demand and commute convenience, including Dr Pepper Snapple Group, Avnet Services, Wesco Distribution, The Xerox Company, and L Brands.
- Dr Pepper Snapple Group — corporate offices (7.3 miles)
- Avnet Services - LifeCycle Solutions — corporate offices (8.1 miles)
- Wesco Distribution — corporate offices (8.7 miles)
- The Xerox Company — corporate offices (9.0 miles)
- L Brands — corporate offices (10.0 miles) — HQ
2727 Grand Haven Dr is positioned in a renter-heavy neighborhood with above-metro-median occupancy and strong amenity access, supporting leasing durability. The 1991 vintage is older than the area’s average stock, pointing to practical capital planning and offering value-add potential to sharpen competitiveness versus newer product. Within a 3-mile radius, recent population and household growth, with further gains projected, indicate a larger tenant base and reinforce demand for multifamily housing.
Ownership remains relatively high-cost versus local incomes, which can sustain reliance on rentals, while neighborhood rent-to-income signals call for thoughtful lease management to balance growth and retention. Based on commercial real estate analysis using WDSuite’s CRE market data, neighborhood-level NOI and safety metrics trail national leaders, so returns may depend on disciplined operations, targeted upgrades, and amenities that resonate with working households.
- Renter-heavy neighborhood and above-metro-median occupancy support demand depth and leasing stability.
- 1991 vintage presents clear value-add and modernization angles to compete with newer stock.
- 3-mile population and household growth expands the tenant base and supports occupancy over time.
- Ownership costs relative to income reinforce rental demand, enabling pricing power where affordability allows.
- Risks: below-metro-average safety and affordability pressure require prudent operations, security investments, and careful renewal strategy.