| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 52nd | Fair |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7302 Bentley Station Pl, Reynoldsburg, OH, 43068, US |
| Region / Metro | Reynoldsburg |
| Year of Construction | 1992 |
| Units | 60 |
| Transaction Date | 2006-12-22 |
| Transaction Price | $3,153,400 |
| Buyer | EDGEWATER APARTMENTS LLC |
| Seller | ASSOCIATED ESTATES REALTY CORP |
7302 Bentley Station Pl Reynoldsburg 60-Unit Multifamily
Neighborhood occupancy appears resilient with steady renter demand supported by nearby employers, according to WDSuite’s CRE market data. This Reynoldsburg Inner Suburb location offers stable fundamentals with potential to enhance performance through selective renovations.
Positioned in an Inner Suburb of the Columbus metro, the neighborhood carries an A rating and ranks 63 out of 580 metro neighborhoods, placing it in the top quartile locally. Amenity access is a strength: restaurants, groceries, pharmacies, and cafés compare favorably to national norms, with cafés and dining density competitive among Columbus areas. Park access is limited, so on-site recreation and walk-to conveniences can support retention.
Leasing fundamentals at the neighborhood level are supportive for multifamily. Occupancy is strong and above national averages, providing a buffer for cash flow stability across cycles. Rents in the neighborhood sit around national mid-range levels, which can balance pricing power and resident retention. Ownership costs trend higher relative to local incomes (top quartile nationally by value-to-income ratio), which typically sustains reliance on multifamily housing and supports a deeper renter pool.
The property’s vintage is 1992, while nearby stock trends newer on average. This age profile suggests planning for systems and interior modernization, but it also presents clear value-add potential to reposition finishes and amenities against 2000s-era comparables.
Within a 3-mile radius, demographics show recent population growth, a rising household count, and projections for further household expansion as average household size edges lower. For investors, that implies a larger tenant base and support for occupancy stability and lease-up velocity over the medium term. Renter-occupied share of housing units is meaningful, indicating sufficient depth of demand without dependence on a narrow segment.
Safety indicators sit below national averages for safety and the neighborhood ranks in the lower half among 580 Columbus neighborhoods. Investors should underwrite with prudent assumptions and consider property-level measures and lighting/access controls, while monitoring local trend direction rather than block-level variation.
A diversified employer base within a short drive—spanning consumer products, distribution, and major corporate headquarters—supports workforce housing demand, commute convenience, and leasing stability for this submarket.
- Dr Pepper Snapple Group — consumer products (7.3 miles)
- Avnet Services - LifeCycle Solutions — technology services (7.9 miles)
- Wesco Distribution — distribution (8.8 miles)
- L Brands — retail corporate offices (10.1 miles) — HQ
- Nationwide — insurance corporate offices (11.1 miles) — HQ
This 60-unit asset benefits from steady neighborhood occupancy and a renter base supported by nearby employment and daily amenities. According to CRE market data from WDSuite, the neighborhood’s leasing profile is stronger than national averages, while homeownership remains relatively costly versus local incomes—factors that typically sustain renter demand and bolster retention. The 1992 vintage introduces scope for targeted renovations that can close the gap with 2000s-era comparables and unlock revenue through finish and systems upgrades.
Forward-looking demographics within a 3-mile radius—more households and smaller average household sizes—point to renter pool expansion, which can support occupancy stability and consistent leasing. Limited park access in the immediate area elevates the importance of on-site amenity programming and walkable conveniences to maintain competitiveness.
- Strong neighborhood occupancy and mid-range rents support stable cash flow
- High-cost ownership context deepens renter demand and retention potential
- 1992 vintage provides clear value-add and modernization upside
- Household growth and smaller sizes within 3 miles expand the tenant base
- Risks: below-average safety indicators and limited park access require prudent management and amenity strategy