| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 60th | Best |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 51 Cleveland Ave, Centerburg, OH, 43011, US |
| Region / Metro | Centerburg |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
51 Cleveland Ave Centerburg 24-Unit Multifamily Investment
Positioned in a high-performing rural neighborhood with steady occupancy and top-tier local schools, the 1985 vintage offers competitive positioning versus older stock, according to WDSuite’s CRE market data. Expect stable renter demand and potential value-add through targeted modernization rather than heavy redevelopment.
Neighborhood fundamentals indicate durable performance for workforce-oriented rentals. The area’s occupancy is strong and sits in the top quartile nationally, while the neighborhood is rated A and ranks near the top among 26 Mount Vernon metro neighborhoods. Schools are a particular strength, with average ratings leading the metro (1st of 26), supporting family-oriented renter retention.
Amenities are limited relative to urban cores (modest counts of cafes, parks, and grocery options), which is typical for rural settings and underscores a car-oriented lifestyle. That said, day-to-day convenience is sufficient for a small market, and amenity scarcity can temper new supply risk.
Housing stock in the neighborhood skews older (average vintage earlier than the property). With a 1985 construction year, this asset is newer than much of the local inventory—an advantage in curb appeal and unit functionality—while still warranting capital planning for aging systems or selective unit upgrades to maintain competitiveness.
Within a 3-mile radius, demographics show a stable-to-soft population trend alongside a gradual increase in household counts and smaller average household sizes—signals that can sustain a renter pool even as headcount shifts. Median incomes are healthy for the region, and ownership costs are moderate, suggesting rental pricing power will rely more on quality and management than outsized rent growth. Renter-occupied share is modest in this submarket, implying a targeted but steady tenant base rather than broad, transient demand.
Safety indicators are favorable in a national context. Neighborhood measures place the area in a high national safety percentile, and recent trends show property and violent offense rates moving downward year over year, according to WDSuite’s CRE market data. For investors, this supports leasing stability and lower reputational risk versus more volatile locations.
Proximity to major Columbus-area employers supports commuter demand from Centerburg, with access to corporate headquarters and regional offices that can underpin leasing and retention.
- L Brands — corporate offices (20.4 miles) — HQ
- Wesco Distribution — distribution services (23.5 miles)
- Dr Pepper Snapple Group — beverage manufacturing (24.7 miles)
- Fuse by Cardinal Health — technology/innovation unit (26.0 miles)
- Cardinal Health — healthcare services (26.3 miles) — HQ
This 24-unit, 1985-built asset benefits from a strong neighborhood profile—top-quartile occupancy nationally and the metro’s leading school ratings—providing a constructive backdrop for retention and stabilized operations. The property’s vintage is newer than much of the local housing stock, which can translate to competitive positioning with measured capital programs focused on systems maintenance and selective interior upgrades. According to commercial real estate analysis from WDSuite, the area’s renter base is smaller but steady, so performance hinges on operational execution and quality, not rapid lease-up velocity.
Forward-looking demographics within a 3-mile radius suggest households continue to trend upward even as population softens, indicating smaller household sizes and a sustained tenant base. Ownership remains attainable relative to incomes, which tempers aggressive rent growth expectations but supports steady occupancy when paired with disciplined pricing and service.
- Strong occupancy backdrop and top-ranked schools in the metro support lease stability.
- 1985 vintage is newer than neighborhood averages, enabling value-add via targeted modernization.
- Proximity to major Columbus-area employers underpins commuter-driven renter demand.
- Household growth within 3 miles expands the tenant base even as average household size trends lower.
- Risks: modest amenity density and a smaller renter-occupied share can slow lease-up and cap pricing power; outcomes depend on execution and asset quality.