| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Fair |
| Demographics | 55th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3266 Creek Run Dr, Columbus, OH, 43231, US |
| Region / Metro | Columbus |
| Year of Construction | 1992 |
| Units | 56 |
| Transaction Date | 2005-12-01 |
| Transaction Price | $2,450,000 |
| Buyer | --- |
| Seller | --- |
3266 Creek Run Dr 56-Unit Columbus Multifamily Investment
Inner-suburb location with a deep renter base and everyday amenities nearby supports durable demand, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood trends around typical levels while renter concentration is high, pointing to a broad tenant pool and steady leasing.
The property sits in an Inner Suburb of Columbus rated A- and ranked 140 out of 580 metro neighborhoods, placing it in the top quartile among Columbus sub-areas for overall livability. Cafés, restaurants, parks, and childcare access are relative strengths here—café and park density rank within the top quartile locally and trend in the top quartile nationally—supporting day-to-day convenience that helps with resident retention.
From an operations standpoint, neighborhood occupancy is around the metro middle, suggesting stable leasing conditions without outsized vacancy risk, while the share of renter-occupied housing is high (ranked 45 of 580, a top-quartile position), indicating a sizable existing renter pool for multifamily properties. Median contract rents within the neighborhood register at accessible levels relative to incomes, which can aid lease stability and renewal rates.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, implying a larger tenant base over time and supporting occupancy stability. Household sizes are gradually edging lower in the forecast, which can add to demand for individual units and sustain absorption for professionally managed rentals.
Home values in the area are moderate for Columbus, and the value-to-income relationship is more accessible than many U.S. neighborhoods. For investors, that means some competition from ownership is possible; however, a high renter concentration and a balanced rent-to-income profile point to continued reliance on rental housing and manageable retention risk.
Safety metrics for the neighborhood track below national averages, with crime ranks in the lower-performing cohort of Columbus (e.g., crime rank 407 of 580). National percentiles for both violent and property offenses are also on the lower end, indicating a setting that warrants proactive property management and standard security measures.
For underwriting, position safety as an operational consideration rather than a thesis driver. Well-lit common areas, access control, and resident engagement can help support retention and leasing in similar inner-suburban submarkets across the metro.
Nearby employers span corporate headquarters and regional offices that reinforce commuter convenience and broaden the renter base, including L Brands, Wesco Distribution, Dr Pepper Snapple Group, Nationwide, and American Electric Power.
- L Brands — corporate offices (2.6 miles) — HQ
- Wesco Distribution — industrial distribution (4.6 miles)
- Dr Pepper Snapple Group — beverage corporate offices (6.3 miles)
- Nationwide — insurance & financial services (8.7 miles) — HQ
- American Electric Power — utilities corporate offices (8.9 miles) — HQ
This 56-unit, 1992-vintage asset is newer than the neighborhood’s average housing stock, offering a competitive edge versus older product while leaving room for targeted modernization to drive rent and retention. High renter concentration and inner-suburban convenience underpin demand, and neighborhood occupancy trends near metro norms, which supports steady cash flow across cycles, based on CRE market data from WDSuite.
Within a 3-mile radius, recent population and household growth, alongside forecasts for further increases, point to renter pool expansion that can reinforce leasing velocity. Moderate ownership costs may create some competition from for-sale options, but the area’s sizable renter base and accessible rent-to-income dynamics provide a foundation for consistent tenancy.
- 1992 vintage newer than area average, with value-add potential through selective updates
- High renter-occupied share supports depth of tenant demand and leasing stability
- Inner-suburban amenities and major employers nearby aid retention and occupancy
- 3-mile population and household growth indicate ongoing renter pool expansion
- Risks: below-average safety metrics and some competition from homeownership options