| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1370 Barnett Rd, Columbus, OH, 43227, US |
| Region / Metro | Columbus |
| Year of Construction | 1983 |
| Units | 78 |
| Transaction Date | 2023-08-07 |
| Transaction Price | $5,300,000 |
| Buyer | ROBERT CASSIDY MANOR LIMITED PARTNERSHIP |
| Seller | TEAMSTERS ASSISTANCE PROGRAMS INC |
1370 Barnett Rd, Columbus OH Multifamily Investment
Positioned in an inner-suburb of Columbus with steady neighborhood occupancy and a deep renter base, this 78-unit asset aligns with demand fundamentals, according to WDSuite’s CRE market data. The location supports durable workforce tenancy with room for operational optimization.
The property sits in an Inner Suburb neighborhood rated B- where day-to-day convenience is solid and broadly in line with national norms. Amenity access is competitive among 580 Columbus neighborhoods (ranked 119th), with grocery, pharmacy, and cafe density supportive of resident retention; parks and childcare options are more limited and should be weighed in marketing strategy. Rents in the neighborhood trend toward the attainable end of the metro, which can sustain leasing velocity for workforce-oriented product.
Neighborhood occupancy is in the low-90s (92.7%), indicating a generally stable leasing backdrop. Importantly, approximately 63.7% of housing units are renter-occupied, placing the area in the top tier nationally for renter concentration; for investors, that depth translates to a larger tenant base and potential resilience through cycles. Using multifamily property research from WDSuite as context, this tenure mix typically supports consistent absorption for mid-size assets.
Within a 3-mile radius, population and household counts have grown over the past five years, with households projected to expand further through 2028. Forecasts point to rising median incomes alongside higher asking rents in the radius, which suggests ongoing demand for professionally managed rentals while elevating the importance of affordability positioning and lease management.
The building’s 1983 vintage is newer than the neighborhood’s older average housing stock (1965). That relative youth can aid competitiveness versus legacy properties, though investors should plan for modernization of systems and targeted common-area updates to enhance renter appeal and support rent positioning relative to nearby comparables.
Safety signals are mixed and should be underwritten thoughtfully. The neighborhood ranks 372 out of 580 within the Columbus metro on crime, indicating it is below the metro median for safety, and national comparisons place it in lower safety percentiles. That said, estimated property offenses show a recent year-over-year decline, which is a constructive trend to monitor over additional periods.
Investors should calibrate security measures, lighting, and resident engagement programs to support retention and mitigate loss-to-lease risk. Compare current trends against nearby submarkets during diligence rather than relying on block-level assumptions.
Nearby employers provide a diversified white-collar and light industrial employment base that can support renter demand and commute convenience. Notable nodes include Dr Pepper Snapple Group, Wesco Distribution, Nationwide, American Electric Power, and L Brands.
- Dr Pepper Snapple Group — beverage corporate offices (3.24 miles)
- Wesco Distribution — industrial distribution offices (4.94 miles)
- Nationwide — insurance & financial services (5.46 miles) — HQ
- American Electric Power — electric utility corporate offices (5.52 miles) — HQ
- L Brands — retail corporate offices (7.64 miles) — HQ
1370 Barnett Rd offers scale at 78 units in a renter-heavy pocket of Columbus where neighborhood occupancy sits around the low-90s, supporting income stability relative to older nearby stock. The 1983 construction is newer than the area’s average vintage, creating a platform for value-add through selective unit and systems upgrades while competing effectively against pre-1970 assets. According to CRE market data from WDSuite, the surrounding neighborhood’s rent levels are generally attainable, which can aid leasing and renewal capture as incomes in the 3-mile radius trend upward.
Demand is reinforced by a high share of renter-occupied housing locally and proximity to major employers across insurance, utilities, consumer brands, and distribution. Forward-looking 3-mile projections indicate population and household growth, implying a larger tenant base over the next cycle; pairing that with disciplined expense control and targeted renovations can support cash flow durability. Key underwriting watchpoints include local safety comparisons, limited park/childcare amenities, and below-metro school ratings, which may influence marketing and retention tactics.
- Renter-heavy neighborhood and low-90s occupancy support stable demand and leasing.
- 1983 vintage is newer than local stock, with clear value-add potential via targeted upgrades.
- 3-mile population and household growth expand the tenant base, aiding absorption and renewals.
- Proximity to major employers (insurance, utilities, retail, distribution) supports commute-driven retention.
- Risks: below-metro safety rankings and weaker school ratings require calibrated operations and resident programming.