| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Fair |
| Demographics | 57th | Good |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 576 Olde Castle Ct, Galloway, OH, 43119, US |
| Region / Metro | Galloway |
| Year of Construction | 1981 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
576 Olde Castle Ct Galloway Multifamily Investment
Neighborhood occupancy is in the mid-90% range with about 40% of housing units renter-occupied, supporting a stable tenant base according to WDSuite’s CRE market data. Position in Columbus’ inner suburbs offers balanced demand without core CBD pricing.
Located in an inner-suburb pocket of Columbus, the neighborhood carries a B rating and sits above the metro median for occupancy (ranked 257 of 580 neighborhoods), signaling comparatively steady rent rolls versus many local peers. Nationally, the area’s occupancy performance is above the median (73rd percentile), which supports income durability for well-managed assets.
The property’s 1981 vintage is slightly newer than the neighborhood’s average construction year of 1975. That positioning can enhance competitive appeal relative to older stock, while still leaving room for targeted modernization (systems, common areas) to drive rentability and value-add returns.
Livability is mixed but investable. Grocery access scores well (70th percentile nationally) and restaurants are reasonably present (57th percentile), while childcare density is a relative strength (82nd percentile). Conversely, parks, cafes, and pharmacies are sparse in the immediate neighborhood. Average school ratings trend low (23rd percentile nationally), which may tilt the renter mix more toward workforce and young households than school-driven movers.
Within a 3-mile radius, demographics point to a growing renter pool. Households increased about 10% over the last five years, and forecasts show notable gains ahead alongside a rising share of higher-income brackets; both trends expand the tenant base and support occupancy stability. Neighborhood-level rents are mid-market by Columbus standards (around the national median), and median home values are relatively accessible for owners locally, which can introduce some competition with ownership—but the rising renter share and inner-suburban convenience continue to sustain multifamily demand.
Safety compares less favorably to national norms: neighborhood violent and property offense rates sit in low national percentiles (around the teens), indicating more crime than many U.S. neighborhoods. Recent year-over-year readings suggest an uptick, so prudent investors often underwrite for lighting, access control, and resident engagement to support retention.
Relative to the Columbus metro, the area is not among the top-performing safety cohorts. Operators with strong on-site practices and partnerships with local resources typically fare better in maintaining leasing momentum despite these dynamics.
Proximity to major corporate employers underpins workforce housing demand and commute convenience, including Big Lots, American Electric Power, Nationwide, Fuse by Cardinal Health, and Cardinal Health. These anchors broaden the potential tenant base and can support retention during cycles.
- Big Lots — discount retail (2.7 miles) — HQ
- American Electric Power — electric utility (8.1 miles) — HQ
- Nationwide — insurance (8.3 miles) — HQ
- Fuse by Cardinal Health — healthcare services offices (11.3 miles)
- Cardinal Health — healthcare services (11.8 miles) — HQ
This 50-unit, 1981-vintage asset benefits from above-median neighborhood occupancy in Columbus and a renter-occupied housing share near 40%, which together point to a durable tenant base and manageable lease-up risk. Within a 3-mile radius, recent growth in households and income levels—alongside forecasted gains—suggests a larger pool of prospective renters, supporting stabilized operations and selective rent pushes where renovations add value.
The vintage is slightly newer than the neighborhood norm, providing a platform for targeted value-add (common areas, in-unit finishes, efficiency upgrades) to improve positioning versus older comparables. According to CRE market data from WDSuite, neighborhood rents track near the national middle while ownership costs are relatively accessible locally; this mix can introduce some competition with ownership, but proximity to diverse employers and inner-suburban access continue to reinforce rental demand.
- Above-median neighborhood occupancy and growing 3-mile household base support income stability.
- 1981 construction offers value-add upside via modernization against older nearby stock.
- Workforce demand supported by nearby HQs (retail, utility, insurance, healthcare) and commute convenience.
- Mid-market rents and rising incomes create room for strategic pricing tied to upgrades.
- Risks: below-average safety metrics and lower school ratings; amenity gaps may require stronger on-site programming and security budgeting.