| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 87th | Best |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5501 Cosgray Rd, Dublin, OH, 43016, US |
| Region / Metro | Dublin |
| Year of Construction | 1973 |
| Units | 115 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5501 Cosgray Rd Dublin Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by steady household growth within a 3-mile radius, according to WDSuite s CRE market data. The core investor takeaway is durable leasing fundamentals in a suburban Columbus submarket with room for value-add execution.
Dublin s Cosgray Road area scores an A neighborhood rating and ranks 82 of 580 across the Columbus metro, putting it in the top quartile locally. Neighborhood occupancy stands at 98.6% (measured for the neighborhood, not the property), a level that typically supports lease stability and lower downtime between turns, based on CRE market data from WDSuite.
The renter-occupied share in the neighborhood is 27.5%, indicating a moderate renter concentration that can provide a consistent tenant base for a 115-unit asset while still competing with ownership options. Median home values sit in a high-cost ownership market relative to local incomes (value-to-income ratio of 2.44 and rent-to-income around 0.18), which suggests generally manageable affordability pressure for renters and supports retention without overreliance on concessions.
Livability is suburban and low-density (Rural neighborhood type). Amenities are thinner on restaurants and cafes, but essentials like parks and grocery options track near the middle of national peers. Average construction year in the neighborhood is 2006; the subject property s 1973 vintage is older, which points to potential value-add through interior modernization and systems upgrades to compete with newer stock.
Demographic statistics aggregated within a 3-mile radius show recent population growth of roughly the past five years alongside an 18%+ increase in households, with projections indicating further renter pool expansion through 2028. This growth, paired with above-median neighborhood demographics (87th national percentile), supports ongoing demand for multifamily units and helps sustain occupancy.
Safety conditions are mixed relative to the Columbus metro and national benchmarks. The neighborhood s crime rank sits in the lower half of the 580 metro neighborhoods, indicating comparatively higher reported incidents than many local peers. Nationally, safety percentiles are in the mid-40s, which is around average compared with neighborhoods nationwide.
Trend signals are nuanced: recent estimates indicate a modest decline in violent incidents year over year (slightly better than national trends), while property incidents show a recent uptick. Investors should underwrite to typical suburban risk management measures such as lighting, access control, and package management and review current insurance and security line items against market norms.
Proximity to corporate offices underpins weekday demand and supports retention through commute convenience. Nearby anchors include Cardinal Health (multiple facilities), Fuse by Cardinal Health, Big Lots, and Parker-Hannifin, with additional Fortune 500 headquarters within a wider 10 mile radius.
- Cardinal Health corporate offices (3.9 miles)
- Cardinal Health corporate offices (4.1 miles) HQ
- Fuse by Cardinal Health corporate innovation offices (4.6 miles)
- Big Lots corporate offices (9.1 miles) HQ
- Parker-Hannifin Corporation corporate offices (11.6 miles)
This 115-unit, 1973-vintage asset in Dublin benefits from tight neighborhood occupancy and a growing 3-mile renter base, supporting stable leasing and renewal potential. According to CRE market data from WDSuite, the neighborhood sits in the top quartile among 580 Columbus neighborhoods with 98.6% area occupancy (neighborhood measure), while renter concentration is moderate, suggesting consistent demand without overexposure to transience.
The older vintage relative to a 2006 neighborhood average highlights value-add potential through interior updates and operational improvements to compete with newer stock. Suburban amenity density is lighter, but proximity to major employers helps sustain weekday traffic and leasing velocity. Underwriting should consider mixed safety trends and the area s relatively accessible ownership landscape when forecasting rent growth and retention.
- Tight neighborhood occupancy and growing 3-mile household base support leasing stability
- 1973 vintage versus newer local stock offers clear value-add and modernization upside
- Proximity to major employers supports tenant demand and renewal prospects
- Balanced renter concentration aids depth of tenant pool without excessive turnover
- Risks: lighter nearby amenities, mixed safety trends, and competition from accessible ownership