| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 44th | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5500 Millersfield Dr, Columbus, OH, 43232, US |
| Region / Metro | Columbus |
| Year of Construction | 2006 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5500 Millersfield Dr, Columbus Multifamily Investment
Neighborhood occupancy has been resilient and renter demand is supported by a high share of renter-occupied housing, according to WDSuite’s CRE market data. This positioning can favor stable cash flow in an inner-suburban location while allowing disciplined upside through operations.
Located in an Inner Suburb of Columbus, the neighborhood is rated A- and ranks 127 out of 580 across the metro, indicating it is competitive among Columbus neighborhoods. According to WDSuite’s CRE market data, neighborhood occupancy trends are strong relative to national peers (top quintile nationally), though this refers to the neighborhood’s occupancy, not the property.
Livability is supported by everyday conveniences: grocery and pharmacy access track above national medians, and park access is also above average. Dining density is comparable to broader national patterns, while cafés are limited, which suggests a practical, value-oriented retail mix attractive to workforce tenants.
The share of housing units that are renter-occupied is elevated (among the highest nationally), which signals a deep tenant base and supports leasing velocity for multifamily product. Median contract rents in the neighborhood have risen over the past five years, reinforcing durable demand; investors should pair this with active lease management to preserve retention as rents move.
Within a 3-mile radius, household counts have grown even as average household size edged lower, expanding the renter pool and supporting occupancy stability. Forward-looking projections indicate continued household growth by 2028 alongside rising household incomes, which can sustain demand for professionally managed rentals and measured rent advancement.
Safety indicators for the neighborhood track below national benchmarks (national percentiles for both property and violent offenses are low), indicating higher relative crime exposure than many U.S. neighborhoods. This is a neighborhood-level view, not specific to the property. Investors typically address this through on-site management focus, lighting, access controls, and resident engagement to support retention.
Compared with other Columbus neighborhoods, the area trends below the metro median for safety. Monitoring recent trajectory and coordinating with property management can help align underwriting assumptions for security-related operating costs and marketing strategy.
Proximity to established employers underpins renter demand through commute convenience and a broad workforce base. Notable nearby employers include Dr Pepper Snapple Group, Avnet Services – LifeCycle Solutions, Wesco Distribution, The Xerox Company, and Nationwide.
- Dr Pepper Snapple Group — beverage (5.7 miles)
- Avnet Services - LifeCycle Solutions — electronics services (6.3 miles)
- Wesco Distribution — industrial distribution (7.3 miles)
- The Xerox Company — business services (7.4 miles)
- Nationwide — insurance (9.0 miles) — HQ
Built in 2006 with 60 units, the asset is newer than the neighborhood’s average vintage, providing competitive positioning versus older stock while leaving room for targeted system upgrades and cosmetic refresh for value-add. Neighborhood fundamentals are favorable: occupancy is strong (top-tier nationally) and the share of renter-occupied housing units is high, indicating depth of tenant demand. According to CRE market data from WDSuite, rents have trended upward locally, and within a 3-mile radius, household growth and rising incomes point to a larger tenant base and support for lease-up and retention.
The inner-suburban location offers practical amenities and access to major employers, supporting steady leasing. Ownership costs in the area are moderate in context, which can sustain renter reliance on multifamily housing and provide measured pricing power, provided management stays attentive to affordability pressure and neighborhood safety dynamics.
- 2006 vintage offers competitive positioning with selective value-add and capital planning potential
- Strong neighborhood occupancy and high renter concentration support demand stability
- Household growth and rising incomes within 3 miles expand the tenant base and aid retention
- Employer proximity underpins workforce housing demand and leasing velocity
- Risks: below-average neighborhood safety and affordability pressure require active management and conservative underwriting