| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 64th | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5039 Dierker Rd, Columbus, OH, 43220, US |
| Region / Metro | Columbus |
| Year of Construction | 1972 |
| Units | 62 |
| Transaction Date | 2007-11-29 |
| Transaction Price | $101,000 |
| Buyer | LEXINGTON PARK PROPERTIES LLC |
| Seller | MC97-1 LP |
5039 Dierker Rd, Columbus — 62-Unit Value-Add Multifamily
Neighborhood occupancy remains solid and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations with room for targeted improvements.
Located in Columbus’s Inner Suburb fabric, the neighborhood carries an A- rating and ranks in the top quartile among 580 Columbus neighborhoods, signaling competitive fundamentals for multifamily. Restaurant density is strong and grocery access is favorable, while childcare availability trends above most peers; parks, pharmacies, and cafes are more limited, suggesting a primarily residential setting with convenience retail rather than destination amenities.
Neighborhood-level occupancy is about 96% (per WDSuite’s CRE market data), placing it above many U.S. areas and indicating steady absorption and leasing durability at the neighborhood level rather than at this specific property. The share of housing units that are renter-occupied is high, reinforcing a sizable tenant base and supporting leasing velocity for well-positioned assets.
Within a 3-mile radius, demographics show population and household growth over the last five years, with projections pointing to additional household gains and a smaller average household size. For investors, that implies a larger and diversifying renter pool, which can support occupancy stability and reduce downtime between turns.
Home values in the neighborhood sit in a high-cost ownership context relative to local incomes, which tends to sustain reliance on rental housing and can aid retention. Rent-to-income levels remain manageable by neighborhood standards, supporting pricing power with prudent lease management rather than aggressive pushes. For 5039 Dierker Rd’s 1972 vintage, an older-than-average construction profile versus nearby stock (circa 1980) suggests value-add and capital planning opportunities to enhance competitive positioning.
Neighborhood safety indicators are below national medians, with the area ranking below the metro median compared with 580 Columbus neighborhoods. In national terms, the neighborhood scores in lower percentiles, signaling that safety conditions may require active property and community engagement to support resident satisfaction and retention.
Recent trends are mixed: estimated property offenses have eased year over year, while estimated violent offenses rose. For investors, this calls for pragmatic mitigation—thoughtful security measures, lighting, and coordination with local resources—while monitoring whether the recent shift proves transient or sustained. These observations reflect neighborhood-level data, not block- or property-specific conditions.
Proximity to major corporate offices underpins commuter convenience and supports workforce housing demand, notably from Cardinal Health and nearby Fortune 500 employers highlighted below.
- Fuse by Cardinal Health — corporate offices (3.2 miles)
- Cardinal Health — corporate offices (3.9 miles)
- Cardinal Health — corporate offices (4.2 miles) — HQ
- Big Lots — corporate offices (7.1 miles) — HQ
- Nationwide — corporate offices (7.3 miles) — HQ
This 62-unit, 1972-vintage asset aligns with a neighborhood that is competitive within the Columbus metro and shows resilient renter demand. Neighborhood-level occupancy is strong and the renter-occupied share is high, supporting a deep tenant base and reducing exposure to prolonged vacancy. The vintage suggests clear value-add pathways—unit refreshes, systems upgrades, and exterior improvements—to defend and potentially expand rent premiums relative to older comparables.
Within a 3-mile radius, population and household growth, along with projections for additional household expansion, indicate ongoing renter pool expansion that can support lease-up and retention. According to CRE market data from WDSuite, neighborhood home values and ownership costs are elevated relative to incomes, which tends to sustain multifamily demand and can bolster occupancy stability; balanced against this are safety readings that warrant active management and monitoring.
- Solid neighborhood occupancy and high renter concentration support leasing stability
- 1972 vintage provides value-add potential through interior and systems upgrades
- 3-mile household growth and diversifying demographics expand the tenant pipeline
- Ownership costs relative to incomes reinforce reliance on rental housing and retention
- Risks: neighborhood safety metrics below national medians; amenity gaps (parks/cafes) may require resident-experience investments