| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 60th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 165 Derby Downs Rd, Newark, OH, 43055, US |
| Region / Metro | Newark |
| Year of Construction | 1986 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
165 Derby Downs Rd Newark Multifamily Investment
Neighborhood occupancy is strong with a deep renter base, indicating steady leasing conditions, according to WDSuite’s CRE market data.
Positioned in Newark’s Inner Suburb of the Columbus, OH metro, the neighborhood rates A- and ranks 91 out of 580 metro neighborhoods, placing it in the top quartile locally. For investors, that translates to balanced fundamentals and competitive livability compared with most Columbus submarkets.
Access to daily needs is a relative strength: neighborhood-level data shows restaurants and grocery options are competitive among Columbus neighborhoods, with national amenity percentiles in the high 80s to low 90s. Average school ratings sit around the 73rd percentile nationally, supporting family-oriented demand and lease retention potential.
Renter concentration in the neighborhood is high (about 59% of housing units are renter-occupied), and neighborhood occupancy trends are elevated around 97%. Together, these indicators suggest a sizable tenant base and support for occupancy stability. Median home values are elevated for the area and the neighborhood’s value-to-income ratio sits in the upper national percentiles, which generally sustains reliance on rental housing and can support pricing power for well-positioned assets. The neighborhood’s median rent-to-income ratio is near 0.20, implying moderate affordability pressure that can aid retention when managed thoughtfully.
Within a 3-mile radius, population has grown modestly in recent years and is projected to expand further, with households expected to increase meaningfully and average household size trending lower. This points to renter pool expansion and demand for multifamily units, particularly smaller formats. The property’s 1986 vintage is older than the neighborhood’s average construction year (1992), suggesting scope for value-add renovations and the need to plan for capital improvements to maintain competitiveness against newer stock.
Safety indicators are mixed and should be underwritten with care. Nationally, the neighborhood sits near the midpoint and slightly better on comparative safety metrics. Within the Columbus metro, its crime rank indicates more incidents than many neighborhoods (ranks lower numbers correspond to higher crime), but recent trend data shows improvement: estimated property offenses and violent offenses both declined year over year, placing those improvements in stronger national percentiles. For investors, the key takeaway is to evaluate security measures, lighting, and resident experience, while recognizing that trending improvements can support stability if maintained.
Commuter access to major employers across the Columbus region supports workforce housing demand and retention, particularly for roles tied to consumer goods, distribution, and corporate services. Key nearby employers include L Brands, Dr Pepper Snapple Group, Wesco Distribution, Autozone Distribution Center, and Avnet Services - LifeCycle Solutions.
- L Brands — retail & corporate HQ (24.9 miles) — HQ
- Dr Pepper Snapple Group — beverage operations (26.6 miles)
- Wesco Distribution — industrial distribution (26.7 miles)
- Autozone Distribution Center — auto parts distribution (29.1 miles)
- Avnet Services - LifeCycle Solutions — tech services (30.8 miles)
This 59-unit, 1986-vintage asset is situated in a Columbus-metro neighborhood that ranks in the top quartile locally and exhibits strong renter dynamics. High neighborhood occupancy alongside a sizable share of renter-occupied housing supports day-one demand depth and leasing stability. Amenity access and school ratings track above national norms, and within a 3-mile radius, population and households are set to expand, pointing to a larger tenant base over the next cycle. Elevated ownership costs relative to incomes in the neighborhood further reinforce renter reliance on multifamily housing.
The 1986 construction year implies potential value-add upside through interior refreshes and systems upgrades to compete against newer product. According to CRE market data from WDSuite, neighborhood occupancy and amenity access compare favorably, while safety trends are improving but mixed versus the metro, warranting targeted operating practices. Underwriting should balance demand strength with prudent capital planning and attention to property management and security.
- Strong neighborhood occupancy and high renter concentration support stable leasing
- Amenity access and above-average school ratings aid retention and depth of demand
- 1986 vintage offers value-add potential with focused capex and modernization
- 3-mile population and household growth signal renter pool expansion
- Risks: mixed safety relative to the metro and ongoing capex needs for older systems