| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 60th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1015 Village Green Ct, Newark, OH, 43055, US |
| Region / Metro | Newark |
| Year of Construction | 1992 |
| Units | 66 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1015 Village Green Ct Newark Multifamily Opportunity
Neighborhood fundamentals show durable renter demand with a 97% occupancy rate in the surrounding area, according to WDSuite’s CRE market data. A sizable renter base supports leasing stability for a 66‑unit asset in Newark’s inner-suburban context.
The property sits in an Inner Suburb of the Columbus, OH metro that scores A- overall and ranks 91 out of 580 metro neighborhoods, placing it in the top quartile locally. Dining and daily-needs access are a relative strength — the neighborhood ranks in the top quartile among Columbus areas for both restaurants and grocery availability, which supports resident satisfaction and retention.
Schools in the area average 3.5 out of 5 and are competitive among metro peers, aligning with stable family demand. Neighborhood occupancy is 97% (neighborhood metric, not property-specific), which compares favorably to many inner-suburban submarkets and points to steady absorption and lease-up consistency. For investors conducting multifamily property research, these location fundamentals suggest resilient day-to-day operations rather than outsized volatility.
Tenure patterns indicate depth of the renter pool: about 58.9% of housing units in the neighborhood are renter-occupied, a high renter concentration by national comparison that supports ongoing demand for multifamily units. Within a 3-mile radius, households are projected to grow meaningfully by 2028 alongside a modest decline in average household size — a combination that expands the tenant base and can reinforce occupancy stability.
Ownership costs are relatively elevated versus local incomes (value-to-income nationally in a higher percentile), while neighborhood median rents remain manageable relative to incomes. This balance tends to sustain reliance on rentals and can aid lease retention, while limiting downside risk from competition with entry-level ownership options.
Safety metrics for the neighborhood are competitive among Columbus neighborhoods (ranked 151 of 580) and around the national middle of the pack (53rd percentile). Recent trends are favorable: both property and violent offense rates have declined year over year, indicating improving conditions at the neighborhood level. These are area-wide indicators and should be paired with property-level security and management practices for a complete risk view.
Proximity to major employers across corporate, distribution, and consumer goods supports a broad commuter base and can underpin renter demand and retention. Nearby anchors include L Brands, Dr Pepper Snapple Group, Wesco Distribution, AutoZone Distribution, and Avnet Services.
- L Brands — retail & consumer brands (24.4 miles) — HQ
- Dr Pepper Snapple Group — beverages (25.9 miles)
- Wesco Distribution — industrial distribution (26.0 miles)
- Autozone Distribution Center — auto parts distribution (29.1 miles)
- Avnet Services - LifeCycle Solutions — technology services (29.8 miles)
Positioned in an A- rated Inner Suburb of Columbus with top-quartile neighborhood standing, the asset benefits from 97% neighborhood occupancy and strong renter concentration — indicators of demand depth that can support stable cash flow. Daily-needs access is a relative strength, and within a 3-mile radius, projected growth in households alongside smaller average household sizes points to a larger tenant base over the next cycle.
Home values run high relative to local incomes, reinforcing renter reliance on multifamily, while neighborhood median rents remain manageable, supporting retention and measured pricing power. According to commercial real estate analysis from WDSuite, these dynamics align with durable leasing and limited competition from entry-level ownership, though performance will still hinge on property-level execution and capital planning.
- Top-quartile neighborhood standing in the Columbus metro with strong daily-needs access
- 97% neighborhood occupancy and high renter concentration support demand stability
- 3-mile radius projections indicate household growth and a larger tenant base
- Ownership costs higher relative to incomes sustain renter reliance and lease retention
- Risk: performance depends on property-specific operations, capital improvements, and local economic trends