| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 48th | Fair |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2346 Sonora Dr, Grove City, OH, 43123, US |
| Region / Metro | Grove City |
| Year of Construction | 1982 |
| Units | 57 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2346 Sonora Dr Grove City Multifamily Investment
Neighborhood occupancy is strong and stable, with the surrounding area showing solid renter demand according to WDSuite’s CRE market data. This positioning supports income durability for investors while leaving room for targeted operational improvements.
Grove City’s inner-suburb setting offers daily convenience that supports renter retention. Amenity access is competitive among Columbus neighborhoods, with grocery and pharmacy density landing in the top quartile nationally, while restaurants and cafes are also above national norms. Although park access is limited locally, everyday services are within easy reach, which helps underpin leasing velocity.
At the neighborhood level, occupancy is in the top quartile nationally and above the metro median, indicating steady absorption and reduced downtime between turns. Median contract rents track around the metro middle, and the neighborhood’s rent-to-income profile suggests manageable affordability pressure, which can support pricing power without materially elevating retention risk.
Tenure dynamics point to a deep renter base: the neighborhood’s share of renter-occupied housing units is elevated relative to many Columbus subareas, reinforcing the depth of demand for smaller-format units. Within a 3-mile radius, households increased over the past five years and are projected to expand further even as average household size trends lower, implying a larger number of renting households and resilience against isolated move-outs.
Home values in the neighborhood sit in a moderate range for the region. In a high-cost ownership market context, renters may remain in multifamily longer, supporting lease renewal rates; in more accessible pockets, ownership options can create competition but also help attract residents seeking value in professionally managed housing. Overall, the neighborhood’s A rating and a rank of 76 among 580 Columbus neighborhoods position it as competitive for workforce-oriented multifamily.
Safety indicators in this neighborhood are below the metro average, with a crime rank of 330 among 580 Columbus neighborhoods and low national percentiles. That said, recent data shows property offenses trending down year over year, suggesting conditions may be stabilizing. Investors should underwrite accordingly with prudent security measures and asset management practices, and benchmark performance to comparable inner-suburb assets in the metro.
Proximity to major corporate offices supports commuter convenience and a diversified renter pool, led by headquarters in retail, utilities, and insurance, plus regional technology and services employers listed below.
- Big Lots — discount retail HQ (5.6 miles) — HQ
- American Electric Power — electric utility (6.4 miles) — HQ
- Nationwide — insurance (6.7 miles) — HQ
- Avnet Services - LifeCycle Solutions — IT services (8.0 miles)
- The Xerox Company — document technology (8.2 miles)
This asset’s Grove City location benefits from steady neighborhood occupancy and a renter base supported by nearby employment centers. According to CRE market data from WDSuite, the neighborhood’s occupancy performance sits in the top quartile nationally and above the metro median, which supports income stability and reduces lease-up risk. Rents sit near the metro middle, while rent-to-income levels point to manageable affordability pressure and room for operational optimization rather than heavy concessions.
Within a 3-mile radius, households have grown and are projected to increase further even as household sizes decrease, expanding the pool of renting households over time. Moderate home values by regional standards reinforce steady multifamily demand, while the area’s daily-need amenities (grocery, pharmacy) support retention. Key risks include below-average safety metrics at the neighborhood level and limited park access, which warrant thoughtful asset management and resident experience programming.
- Neighborhood occupancy above metro median supports income durability
- Renter-occupied housing concentration provides depth of tenant demand
- 3-mile household growth and smaller household sizes expand the renter pool
- Daily-need amenities nearby aid lease retention and pricing discipline
- Risks: below-average safety metrics and limited park access require proactive management