| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 59th | Good |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 31 Chittenden Ave, Columbus, OH, 43201, US |
| Region / Metro | Columbus |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
31 Chittenden Ave Columbus Multifamily Value-Add Opportunity
Urban core location with strong amenity access and a deep renter base points to resilient leasing fundamentals, based on commercial real estate analysis from WDSuite.
Positioned in Columbus’s Urban Core, the property benefits from a stronger neighborhood profile (A rating; ranked 43 of 580, which is top quartile among Columbus neighborhoods). According to WDSuite’s CRE market data, the area offers dense retail and daily-needs access—cafés and restaurants rank near the top of the metro, with parks and pharmacies also highly concentrated—supporting renter convenience and lifestyle appeal.
Amenity coverage is a clear differentiator: restaurant and café densities sit near the metro’s top ranks, with grocery options competitive and pharmacies abundant. Childcare options are limited and average school ratings are weak at the neighborhood level; investors should weigh these factors if targeting family-oriented demand. That said, the share of renter-occupied housing units is high (top-tier in the metro), indicating a substantial tenant base and consistent leasing pipeline for multifamily assets.
Neighborhood occupancy currently trails metro norms and has softened over the last five years, suggesting the need for active leasing management and product differentiation. However, elevated home values and a high value-to-income ratio indicate a high-cost ownership market locally, which tends to sustain renter reliance on multifamily housing and can support pricing power at well-positioned assets.
Within a 3-mile radius, demographics skew younger with a sizable 18–34 cohort, and households have expanded over the past five years with further growth projected by 2028. This points to renter pool expansion and a larger tenant base over time. Rents have risen historically and are forecast to continue increasing, reinforcing the case for durable demand where unit finishes and management practices are competitive.
Safety indicators require careful underwriting. The neighborhood’s crime rank places it in the lower tier compared with Columbus (ranked 495 of 580), and national percentiles indicate it is less safe than many neighborhoods nationwide. Year-over-year changes show recent increases in both property and violent offenses, underscoring the importance of on-site security measures, lighting, and coordination with local resources.
For investors, this context argues for pragmatic operating plans—budgeting for security improvements, emphasizing access control, and aligning marketing toward renters prioritizing amenity-rich, well-managed buildings. Monitoring trend direction at the neighborhood level remains prudent as part of ongoing asset management.
Major employers nearby provide a diversified employment base that supports renter demand and commute convenience, including Nationwide, American Electric Power, Wesco Distribution, Dr Pepper Snapple Group, and Big Lots.
- Nationwide — insurance (1.9 miles) — HQ
- American Electric Power — electric utility (2.1 miles) — HQ
- Wesco Distribution — distribution (4.7 miles)
- Dr Pepper Snapple Group — beverage (5.0 miles)
- Big Lots — discount retail (6.0 miles) — HQ
Built in 1972, the asset offers a clear value-add angle through modernization and targeted capital planning to compete against older Urban Core stock. Strong amenity access and a high renter concentration support a deep tenant base, while elevated ownership costs in the neighborhood reinforce reliance on rentals and can aid retention and pricing at well-managed properties.
At the same time, neighborhood occupancy has been softer versus metro norms, and safety metrics are weaker than national averages—factors that call for proactive leasing, security investments, and operational focus. According to CRE market data from WDSuite, sustained renter demand and projected household growth within 3 miles point to long-term tenancy depth for assets positioned with competitive finishes and responsive management.
- 1972 vintage supports a value-add plan and targeted CapEx to elevate competitiveness
- Amenity-rich Urban Core with high renter-occupied share supports leasing depth
- Elevated ownership costs locally sustain rental reliance and potential pricing power
- Projected growth in households within 3 miles expands the tenant base over time
- Risks: below-metro occupancy and weaker safety metrics require active leasing and security investments