| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 70th | Best |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1771 Kenny Rd, Columbus, OH, 43212, US |
| Region / Metro | Columbus |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | 2002-05-09 |
| Transaction Price | $350,000 |
| Buyer | HORTON THOMAS R |
| Seller | KMG SOMERSET LLC |
1771 Kenny Rd Columbus 24-Unit Multifamily Investment
Renter concentration in the surrounding neighborhood is high, and the property s 2002 vintage positions it competitively versus older nearby stock, according to WDSuite s CRE market data. Elevated ownership costs in the area tend to support sustained rental demand, though operators should plan for affordability-sensitive leasing.
The neighborhood carries an A- rating and ranks 141 out of 580 among Columbus metro neighborhoods, placing it in the top quartile locally. That positioning signals solid fundamentals for multifamily, with tenant demand reinforced by a high share of renter-occupied housing units at the neighborhood level. Median contract rents sit above many nearby areas, supporting revenue potential while requiring attentive lease management.
Livability is supported by strong café and pharmacy density (both near the top of metro rankings), while grocery, restaurant, and park access within the neighborhood itself are limited. For investors, this mix suggests walkable daily conveniences but potential reliance on adjacent districts for fuller retail and recreation options, which can influence resident preferences and retention.
The average neighborhood construction year skews older (mid-1950s). With a 2002 vintage, the subject property is newer than much of the local stock, which can aid competitiveness on finishes and systems; still, more than two decades in operation warrants thoughtful capital planning and selective modernization to sustain leasing momentum.
Demographic indicators aggregated within a 3-mile radius show modest population growth and a larger increase in households, pointing to smaller household sizes and a widening renter pool. Combined with a neighborhood renter concentration that is well above the metro median, these dynamics support depth of tenant demand and can help stabilize occupancy through cycles.
Home values in the neighborhood are elevated relative to local incomes (a high value-to-income ratio, top percentile nationally). This high-cost ownership market tends to keep multifamily as the more accessible option for many households, bolstering tenant retention and pricing power; however, operators should balance this with affordability sensitivity in renewals and renewals strategy.
Safety metrics for the neighborhood trend below metro averages and are weaker than many areas nationally. The crime rank sits in the lower tier of Columbus (403 out of 580 neighborhoods), indicating higher reported crime relative to much of the metro, and national percentiles are also on the lower side.
Within that context, property offenses have been comparatively elevated and violent offense measures remain below mid-range nationally. Year-over-year fluctuations have recently trended up, so investors should underwrite security measures, lighting, and resident engagement policies and compare trends to adjacent submarkets rather than relying on block-level assumptions.
Proximity to a concentration of corporate headquarters and major offices supports a steady renter base seeking commute convenience. The nearby employment hubs below are within a short drive and align with workforce housing demand in this part of Columbus.
- Nationwide corporate offices (2.5 miles) HQ
- American Electric Power corporate offices (2.6 miles) HQ
- Big Lots corporate offices (4.65 miles) HQ
- Wesco Distribution corporate offices (6.21 miles)
- Dr Pepper Snapple Group corporate offices (6.52 miles)
This 24-unit, 2002-vintage asset benefits from a renter-heavy neighborhood, steady household growth within a 3-mile radius, and a high-cost ownership backdrop that reinforces reliance on multifamily housing. While neighborhood occupancy trends are softer than the metro average, positioning and targeted renovations can help capture demand drawn by nearby employment centers and daily conveniences. According to CRE market data from WDSuite, local café and pharmacy density is strong, and the property s newer vintage relative to the area s mid-century stock enhances competitive standing.
Key underwriting considerations include affordability pressure relative to incomes and below-average neighborhood safety metrics, which call for measured rent growth assumptions, security investments, and proactive resident retention tactics. Overall, the combination of renter concentration, growing household counts, and proximity to major employers supports a durable tenant base with selective value-add upside.
- Renter-heavy neighborhood and growing 3-mile household base support tenant demand and occupancy stability.
- 2002 vintage is newer than much of the local stock, offering competitive positioning with targeted capex.
- High-cost ownership context reinforces rental reliance and potential pricing power.
- Nearby corporate HQs provide a strong employment draw and retention tailwind.
- Risks: softer neighborhood occupancy, affordability pressure, and below-metro safety warrant conservative underwriting and active asset management.