| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 54th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5281 E Forest Edge Dr, Columbus, OH, 43230, US |
| Region / Metro | Columbus |
| Year of Construction | 1987 |
| Units | 72 |
| Transaction Date | 2006-01-01 |
| Transaction Price | $3,500,000 |
| Buyer | --- |
| Seller | --- |
5281 E Forest Edge Dr, Columbus OH Multifamily Investment
Neighborhood fundamentals point to steady renter demand and mid-90s occupancy at the neighborhood level, according to CRE market data from WDSuite, with amenities and employer proximity supporting leasing durability.
Positioned in Columbus's inner-suburb fabric, the property benefits from a neighborhood rated A and ranked 58 out of 580 metro neighborhoods — competitive among Columbus neighborhoods. Dining and cafe density are strengths (nationally high percentiles for restaurants and coffee options), with groceries, parks, and pharmacies also present at above-average concentrations. These amenity layers typically support leasing convenience and reduce turnover friction for residents.
At the neighborhood level, occupancy is in the mid-90% range and sits above the national median, which can underpin revenue stability through cycles. Renter-occupied housing concentration is substantial (neighborhood renter share near the top quintile nationally), indicating a deep tenant base for multifamily operators. Based on commercial real estate analysis from WDSuite, this combination of occupancy and renter concentration supports consistent absorption and renewal potential, particularly for well-managed assets.
Within a 3-mile radius, recent population and household counts have grown and are projected to continue expanding, with households expected to rise faster than population — a dynamic that typically points to slightly smaller household sizes and a larger pool of prospective renters over time. Median household incomes in the 3-mile area have advanced meaningfully, and the current rent-to-income positioning at the neighborhood level suggests manageable affordability pressure that can aid lease retention while leaving measured room for revenue management.
Vintage context: the average nearby construction year trends to the mid-1990s, while this asset was built in 1987. For investors, that gap can signal value-add or targeted modernization opportunities (exteriors, unit interiors, and building systems) to improve competitive positioning versus younger stock while planning for ongoing capital needs.
One consideration is school performance — the average local school rating sits in a lower national percentile. For family-focused leasing strategies, investors may prioritize unit mix, onsite amenities, and management practices that enhance value proposition relative to competing rentals.
Safety indicators for the neighborhood track below national medians, with crime measures landing in lower national percentiles compared with neighborhoods nationwide. Relative to the Columbus metro, the area trends weaker than the average neighborhood on safety. These conditions warrant standard risk controls — well-lit common areas, access management, and resident engagement — to support retention and on-site operations.
Investors typically underwrite with conservative loss assumptions and emphasize proactive property management in submarkets with below-median safety readings, focusing on visibility, maintenance response times, and partnerships with local resources to support stable tenancy.
The immediate employment base includes corporate offices across retail, insurance, utilities, distribution, and beverages, supporting commute convenience and a diversified renter pool. Nearby anchors include L Brands, Wesco Distribution, Dr Pepper Snapple Group, Nationwide, and American Electric Power.
- L Brands — retail and brand offices (2.1 miles) — HQ
- Wesco Distribution — electrical distribution (4.6 miles)
- Dr Pepper Snapple Group — beverages (6.2 miles)
- Nationwide — insurance (9.0 miles) — HQ
- American Electric Power — electric utility (9.3 miles) — HQ
This 72-unit, 1987-vintage asset sits in an A-rated inner-suburban neighborhood with amenity depth, a sizable renter base, and neighborhood occupancy in the mid-90% range. According to CRE market data from WDSuite, restaurants and cafes index well above national norms, while the neighborhood’s renter-occupied share is elevated, reinforcing demand depth and supporting leasing stability.
The asset’s slightly older vintage versus the local average suggests clear value-add pathways through selective renovations and systems updates to sharpen competitive positioning against 1990s-era peers. Within a 3-mile radius, population and households have grown and are projected to continue expanding, which typically enlarges the tenant base and supports steady absorption. Key risks include below-median safety readings and modest school scores — factors best addressed through active management, resident experience focus, and disciplined underwriting.
- A-rated neighborhood with competitive metro standing and amenity depth
- Neighborhood occupancy in the mid-90% range supports revenue stability
- Elevated renter-occupied share indicates a deep tenant base for multifamily
- 1987 vintage offers value-add and modernization upside versus newer stock
- Risks: below-median safety and lower school ratings require active management