| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 89th | Best |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 950 Quay Ave, Grandview Heights, OH, 43212, US |
| Region / Metro | Grandview Heights |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
950 Quay Ave, Grandview Heights OH Multifamily
Neighborhood occupancy is strong and renter demand is deep for inner-suburb Columbus locations, according to WDSuite’s CRE market data, supporting durable cash flow potential for a 32-unit asset at this address.
Grandview Heights sits within the Columbus inner-suburb ring, combining proximity to downtown with a strong neighborhood score (A+) and amenities that support leasing. Restaurants and cafes are dense by regional standards, groceries are convenient, and parks are accessible, which collectively help properties compete for tenants and sustain occupancy.
At the neighborhood level (not the property), occupancy trends are elevated versus many U.S. areas and have firmed over the past five years. The share of housing units that are renter-occupied is high for the metro, indicating a deep tenant base and broad demand for multifamily. In practice, this supports leasing stability and lowers exposure to sudden vacancy spikes when compared with more owner-heavy pockets.
Within a 3-mile radius, WDSuite data shows recent population growth alongside a larger increase in households, pointing to smaller household sizes and a widening renter pool. Forward-looking projections continue to show increases in households and incomes in the near term, which should reinforce tenant demand and support rent levels and retention.
Elevated home values in this part of Franklin County create a high-cost ownership market relative to incomes, which tends to sustain renter reliance on multifamily housing and can support pricing power and lease-up velocity. Median contract rents in the neighborhood have risen over the last five years, but rent-to-income levels remain manageable in investor terms, a useful signal for renewal strategy and multifamily property research.
The average neighborhood vintage skews older, while 950 Quay Ave’s 1973 construction is newer than the local average. That positioning can be competitive versus older stock, though investors should still plan for ongoing system upgrades and selective renovations to meet current renter preferences.
Safety indicators for this neighborhood sit around the metro median among 580 Columbus neighborhoods. Compared with neighborhoods nationwide, overall safety measures trend below the national median, so investors should underwrite with moderated assumptions and consider operational practices that support resident comfort and asset protection.
Property-related offenses are higher than many U.S. neighborhoods on a percentile basis, but the most recent year shows a measurable decline, which is a constructive trend. Violent offense measures remain below national medians. For underwriting, this suggests emphasizing lighting, access control, and community engagement to support retention and mitigate risk rather than assuming premium pricing solely on safety positioning.
Proximity to major downtown and near-downtown employers underpins steady renter demand, providing commute convenience for a diverse workforce tied to utilities, insurance, retail headquarters, and distribution.
- American Electric Power — utilities HQ (2.0 miles) — HQ
- Nationwide — insurance HQ (2.0 miles) — HQ
- Big Lots — retail HQ (3.9 miles) — HQ
- Dr Pepper Snapple Group — beverage offices (6.8 miles)
- Wesco Distribution — industrial distribution (6.8 miles)
This 32‑unit, 1973-vintage asset benefits from an inner-suburb Columbus location where neighborhood occupancy is solid and the renter-occupied share is high, supporting demand depth and lease stability. Being newer than the average neighborhood vintage enhances competitive positioning versus older stock; targeted capex for systems and unit finishes can further strengthen rentability. Home values in the area are elevated relative to incomes, which tends to sustain reliance on rentals and supports steady absorption and renewal potential.
Within a 3‑mile radius, population growth and a faster increase in households point to a larger tenant base over time, reinforcing occupancy stability. Based on commercial real estate analysis from WDSuite, neighborhood rent levels have trended upward while rent-to-income remains manageable, suggesting room for operational optimization rather than aggressive assumptions.
- Inner-suburb location with strong neighborhood occupancy and high renter concentration supports durable leasing
- 1973 construction is newer than local average; value-add through targeted system and interior upgrades
- Elevated ownership costs in the area reinforce renter demand and pricing power
- 3-mile demographics show growth in households, expanding the tenant base and supporting occupancy
- Risks: safety metrics are around metro median and below national medians; underwrite prudent Opex and resident-experience measures