| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Good |
| Demographics | 27th | Poor |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2209 Wabash Ct W, Columbus, OH, 43232, US |
| Region / Metro | Columbus |
| Year of Construction | 1972 |
| Units | 42 |
| Transaction Date | 2015-05-20 |
| Transaction Price | $228,800 |
| Buyer | DMG RENTALS 14 LLC |
| Seller | WABASH COURT WEST APARTMENTS LLC |
2209 Wabash Ct W Columbus Multifamily Investment
Neighborhood occupancy trends are stable and above the metro median, supported by a high share of renter-occupied housing; according to WDSuite’s CRE market data, this positioning favors steady leasing for workforce-oriented assets.
Located in Columbus’s Inner Suburb fabric, the surrounding neighborhood shows above-median occupancy among 580 metro neighborhoods and a high renter-occupied share, indicating a deeper tenant base and potential demand resilience for a 42-unit property. Median contract rents in the neighborhood are modest relative to many submarkets, which can support leasing velocity while requiring disciplined revenue management to capture incremental growth.
Within a 3-mile radius, demographics point to a larger tenant pool over time: recent population growth, an increase in households, and a forecasted rise in both households and incomes suggest more renters entering the market, which supports occupancy stability. These trends, based on CRE market data from WDSuite, are consistent with demand for practical, value-focused apartments rather than luxury offerings.
Daily-needs access is a relative strength: grocery density ranks competitively (top quartile nationally), helping residents meet essentials conveniently. However, parks, cafes, childcare, and pharmacies are limited in the immediate neighborhood, so on-site conveniences and unit functionality matter for retention. Average school ratings are below regional and national benchmarks, which may influence leasing to family renters and should be considered in marketing and resident services.
Home values in the neighborhood are lower than many U.S. areas, while the value-to-income ratio sits on the higher side for the metro, implying a high-cost ownership market relative to local incomes. That backdrop typically reinforces reliance on rental housing and supports tenant retention, though rent-to-income levels in the neighborhood point to some affordability pressure that operators should manage through renewals and pricing.
Relative to other Columbus neighborhoods (580 total), the area’s safety ranking sits below the metro median and falls in lower national percentiles, indicating a comparatively higher crime environment. For investors, this elevates the importance of property-level security, lighting, and community engagement to support resident comfort and lease retention.
Recent trends indicate increases in reported offenses at the neighborhood level. While conditions can vary block to block, framing the asset with practical safety measures and clear communication can help mitigate perception risks and support stabilized operations versus regional peers.
Proximity to corporate offices supports a steady base of commuting renters. Nearby employers include beverage manufacturing, IT services, insurance, electric utility, and business services offices, which can aid retention and weekday occupancy stability.
- Dr Pepper Snapple Group — beverages (4.5 miles)
- Avnet Services - LifeCycle Solutions — IT services (4.9 miles)
- American Electric Power — electric utility (5.9 miles) — HQ
- Nationwide — insurance (5.9 miles) — HQ
- The Xerox Company — business services (6.1 miles)
2209 Wabash Ct W offers 42 units with functional average layouts (~857 sq. ft.), positioned in a neighborhood where occupancy trends sit above the metro median and renter concentration is high. This combination suggests depth of tenant demand and supports stabilized operations, while modest rent levels relative to several submarkets can aid lease-up and renewal velocity, according to CRE market data from WDSuite.
Built in 1972, the asset may benefit from targeted capital planning—common-area refreshes, in-unit upgrades, and system modernization—to enhance competitiveness versus older stock and capture value-add upside. Nearby daily-needs retail is a convenience, though limited lifestyle amenities and below-average school ratings mean resident experience and service levels are important levers. Investors should also plan for focused safety measures and affordability-aware pricing to manage retention.
- Above-median neighborhood occupancy and high renter concentration support steady leasing
- 1972 vintage offers clear value-add pathways via targeted unit and system upgrades
- Modest rent levels can aid lease-up and renewals with disciplined revenue management
- Proximity to diverse employers underpins weekday demand and retention
- Risks: lower relative safety and school ratings; limited amenities—mitigate via security, services, and pricing