| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Good |
| Demographics | 55th | Good |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6950 Americana Pkwy, Reynoldsburg, OH, 43068, US |
| Region / Metro | Reynoldsburg |
| Year of Construction | 2008 |
| Units | 44 |
| Transaction Date | 2013-09-04 |
| Transaction Price | $5,640,000 |
| Buyer | Terraceview Apartments, Ltd. |
| Seller | KelClar, LLC |
6950 Americana Pkwy Reynoldsburg Multifamily Investment
Neighborhood-level occupancy is at the top of the metro, according to WDSuite’s CRE market data, signaling potential stability for cash flows relative to Columbus submarkets. Note: occupancy reflects the surrounding neighborhood, not this specific property.
Positioned in an Inner Suburb of Columbus, the neighborhood scores A- (ranked 122 of 580 locally), indicating competitive livability among metro peers. Grocery and park access test well above regional norms (each in the higher national percentiles), while restaurants are present though cafes and pharmacies are thinner nearby—an amenity mix that supports day-to-day needs but may be car-oriented.
For investors, the clearest signal is stability: the neighborhood shows a 100% occupancy rate and the strongest rank in the metro (1 of 580), which supports lease retention and pricing discipline through cycles. Contract rents in the neighborhood sit near national mid-range levels, and the rent-to-income ratio around the area suggests manageable affordability pressure, helping reduce turnover risk.
Construction vintage around the area skews older (average 1986), while the subject property was built in 2008. The newer vintage can be competitively positioned versus older stock; investors should still plan for mid-life systems updates or selective modernization to capture value and support leasing velocity.
Tenure data indicates a higher renter concentration in the neighborhood (renter-occupied share above metro norms), implying a deeper tenant base for multifamily. Within a 3-mile radius, demographics show recent population growth with households up in the last five years and further growth projected alongside smaller average household sizes—factors that typically expand the renter pool and support occupancy stability.
Ownership costs nearby are comparatively accessible by national standards, which can create some competition from entry-level ownership. Even so, rising incomes within 3 miles and steady rental demand drivers suggest balanced conditions that favor consistent leasing for well-managed assets.
Compared with the Columbus metro, the neighborhood’s crime rank sits in the weaker tier (458 out of 580 neighborhoods), and national placement is also lower (around the bottom decile). This implies investors should underwrite with conservative assumptions for security measures and operating practices to support resident confidence.
Recent data indicate a year-over-year uptick in reported violent and property incidents locally. While block-level variation can be significant, a pragmatic approach—lighting, access control, and resident engagement—can help mitigate risk and sustain leasing performance over time.
Proximity to a diversified employment base supports workforce housing demand and commute convenience, anchored by Dr Pepper Snapple Group, Avnet Services - LifeCycle Solutions, Wesco Distribution, L Brands, and Nationwide. These employers broaden the local renter pool and can aid retention.
- Dr Pepper Snapple Group — beverage corporate offices (6.7 miles)
- Avnet Services - LifeCycle Solutions — technology services (7.6 miles)
- Wesco Distribution — distribution (8.1 miles)
- L Brands — retail corporate offices (9.6 miles) — HQ
- Nationwide — insurance corporate offices (10.4 miles) — HQ
This 44-unit, 2008-vintage asset benefits from neighborhood fundamentals that have supported full neighborhood occupancy and resilient renter demand. The property’s newer-than-average vintage versus surrounding stock enhances competitive positioning, while larger floor plans (average 1,310 sq. ft.) can cater to households seeking more space—often translating to longer tenures. According to CRE market data from WDSuite, the surrounding area’s occupancy strength and mid-range rents point to steady lease-up and retention dynamics relative to the Columbus metro.
Within a 3-mile radius, recent population and household growth, coupled with projected increases and smaller average household sizes, suggest a larger tenant base over time. Balanced rent-to-income levels around the area underpin pricing power without overextending residents, though ownership remains relatively accessible, which investors should consider in competitive positioning and amenity strategy. Mid-life capital planning tied to the 2008 vintage can unlock value and sustain performance against older comparables.
- Neighborhood-level occupancy ranks first in the Columbus metro, supporting leasing stability and retention
- 2008 vintage offers competitive positioning versus older local stock with targeted modernization upside
- Larger average unit sizes align with family and roommate demand, aiding lease duration
- 3-mile population and household growth expands the renter pool, supporting occupancy over time
- Risks: safety ranks below metro average; some competition from ownership; plan for security and mid-life capex