| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 71st | Best |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 S Parkview Ave, Columbus, OH, 43209, US |
| Region / Metro | Columbus |
| Year of Construction | 1975 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
505 S Parkview Ave Columbus Multifamily Investment
Neighborhood fundamentals point to steady renter demand and pricing resilience, according to WDSuite’s CRE market data, with ownership costs elevated relative to incomes and occupancy holding near broader metro norms.
This Inner Suburb location in Columbus balances livability with investment appeal. Neighborhood ratings are competitive among Columbus neighborhoods (ranked 88 out of 580), and local services skew practical: strong access to grocery and pharmacies contrasts with fewer cafes and parks. Average school ratings trend above national norms (around 4.0 out of 5), helping support family-oriented renter demand.
For multifamily investors, tenure patterns matter: within a 3-mile radius, a majority of housing units are renter-occupied, indicating a deep tenant base that can support leasing continuity and retention. Median contract rents in the immediate area sit near the national midpoint while the rent-to-income ratio is relatively manageable, which can aid renewal strategy and reduce turnover risk.
Ownership remains a high-cost option locally, with home values positioned in the upper percentiles nationally and a value-to-income ratio above most U.S. neighborhoods. This context typically sustains reliance on rental housing, bolstering occupancy stability and pricing power without overreliance on rapid in-migration.
The building’s 1975 vintage is newer than the neighborhood’s average housing stock (1958). Relative to older comparables, this can enhance competitive positioning, though capital planning for aging systems and targeted modernization should still be part of the value strategy.
Safety indicators are broadly in line with national averages, based on WDSuite’s CRE market data for the surrounding neighborhood. Overall crime trends place the area near the national midpoint, with property incidents modestly better than national norms and violent incidents below the national midpoint. One-year changes show declines in both categories, signaling incremental improvement rather than a structural shift.
Within the Columbus metro context (580 neighborhoods), this area performs around the middle of the pack, suggesting investors should underwrite standard security measures and lighting/visibility improvements as routine operational best practices rather than as extraordinary mitigations.
Proximity to major employers supports workforce housing demand and commute convenience, notably Dr Pepper Snapple Group, Nationwide, American Electric Power, Wesco Distribution, and L Brands. These employment centers can help sustain leasing velocity and retention.
- Dr Pepper Snapple Group — beverage corporate offices (2.8 miles)
- Nationwide — insurance & financial services (3.3 miles) — HQ
- American Electric Power — utility corporate offices (3.4 miles) — HQ
- Wesco Distribution — industrial distribution (4.1 miles)
- L Brands — retail corporate offices (7.1 miles) — HQ
505 S Parkview Ave offers exposure to an Inner Suburb of Columbus where renter demand is supported by a majority-renter housing base within a 3-mile radius and a high-cost ownership landscape. Median rents track near national norms while rent burdens remain relatively manageable, supporting renewal strategies and occupancy stability. According to CRE market data from WDSuite, neighborhood amenities lean practical (grocers, pharmacies) and schools trend strong, which together reinforce steady demand from families and professionals.
Constructed in 1975, the asset is newer than much of the surrounding housing stock, creating a competitive edge versus older inventory while still benefiting from selective capital improvements or value-add renovations. Nearby corporate employment anchors help deepen the tenant pool, and forward-looking household growth within 3 miles points to a larger renter base over time. Key risks include mid-pack safety positioning and limited lifestyle amenities like parks and cafes, which warrant prudent underwriting and focused property-level enhancements.
- Majority-renter 3-mile area supports a deep tenant base and leasing stability
- High-cost ownership market reinforces multifamily demand and pricing power
- 1975 vintage is newer than neighborhood average, with selective value-add potential
- Proximity to major employers underpins retention and reduces commute friction
- Risk: mid-pack safety and fewer lifestyle amenities require active asset management