| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 48th | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16242 Pike St, Laurelville, OH, 43135, US |
| Region / Metro | Laurelville |
| Year of Construction | 1986 |
| Units | 25 |
| Transaction Date | 2014-08-27 |
| Transaction Price | $666,976 |
| Buyer | BUCKEYE COMMUNITY THIRTY SIX LP |
| Seller | SALT CREEK VILLAGE HOUSING LLC |
16242 Pike St Laurelville 25-Unit Multifamily Opportunity
Renter affordability is strong and household counts are trending up nearby, supporting steady leasing potential, according to WDSuite’s CRE market data. Neighborhood occupancy is below metro averages, so operations that emphasize retention and renewal execution may capture outsized benefits.
Situated in rural Hocking County within the Columbus, OH metro, the location offers small-town living with straightforward access to the broader regional job base. Amenities are limited locally—amenity access ranks below the metro median (317 out of 580 neighborhoods)—so the resident value proposition leans on price-to-space, on-site functionality, and convenient drives to larger retail nodes.
The neighborhood’s renter-occupied share is modest, indicating a thinner multifamily base today, but nearby demand signals are constructive. Within a 3-mile radius, households increased over the last five years and are projected to rise further, pointing to a larger tenant base over time. Forecasts also indicate a higher share of renter-occupied units within that same 3-mile radius, which supports occupancy stability for well-managed assets.
Affordability stands out: neighborhood-level rent-to-income metrics are strong (top decile nationally), which can support retention and provide measured room for rent adjustments where unit quality justifies it. At the same time, median home values are comparatively accessible for the region, which can introduce competition from ownership; positioning and amenities that highlight convenience and low total housing costs can mitigate that risk.
Operating backdrop is mixed but manageable. Neighborhood occupancy trends run below metro norms (ranked 488 of 580), indicating the need for hands-on leasing and renewal management. On resilience, pandemic-era employment exposure scored well (top decile nationally), suggesting a labor mix that has historically supported income stability across cycles based on CRE market data from WDSuite.
Vintage matters for competitive positioning. With an estimated 1986 construction year against an area average vintage around 1960, the asset is newer than much of the local housing stock—helping marketing and rentability—while still likely benefiting from targeted modernization of interiors and building systems to capture value-add upside.
Neighborhood-level crime metrics were not published in the provided dataset for this location. Investors often benchmark rural Columbus-metro communities against broader county and metro trends to evaluate relative safety and leasing implications, using consistent methodology and time frames for apples-to-apples comparisons.
Practical underwriting approaches include confirming recent multi-year trend direction at the city and county levels, assessing property-level incident history, and coordinating with insurance partners on loss expectations rather than relying on single-period snapshots.
Proximity to the Columbus employment corridor supports workforce demand, with access to regional corporate offices such as Avnet Services, The Xerox Company, General Mills, Avnet Services – LifeCycle Solutions, and American Electric Power. These employers expand the commuting shed and can aid tenant retention for residents prioritizing value and drive-time convenience.
- Avnet Services — corporate offices (27.2 miles)
- The Xerox Company — corporate offices (27.4 miles)
- General Mills — corporate offices (27.7 miles)
- Avnet Services - LifeCycle Solutions — corporate offices (28.5 miles)
- American Electric Power — utilities (37.2 miles) — HQ
This 25-unit, 1986-vintage property offers a relative age advantage versus older neighborhood stock, positioning it for targeted value-add to capture rent premiums while maintaining a compelling cost-of-living proposition. Household growth within a 3-mile radius and a projected increase in the local renter share point to a gradually expanding tenant base that can support occupancy stability. Neighborhood rent-to-income levels trend favorable, suggesting retention strength and disciplined room for rent optimization where renovations enhance utility and finish quality.
Balanced against these positives, neighborhood occupancy ranks below metro averages, and homeownership remains comparatively accessible, which can create competition for certain cohorts. Focused asset management—leasing execution, resident services, and cost control—should be central to the thesis. According to CRE market data from WDSuite, the area’s employment mix showed resilient characteristics through recent cycles, adding support to long-term durability without changing the need for prudent underwriting.
- 1986 vintage offers value-add potential versus older area stock
- Expanding 3-mile renter pool and household growth support demand
- Favorable rent-to-income dynamics aid retention and measured pricing power
- Exposure to Columbus regional employers broadens the commuting shed
- Risks: below-metro neighborhood occupancy and competition from ownership options