| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 23rd | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Washington St, Newark, OH, 43055, US |
| Region / Metro | Newark |
| Year of Construction | 1974 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
400 Washington St, Newark OH — 60-Unit Value-Add Multifamily
Neighborhood occupancy is steady and renter demand is durable, according to WDSuite’s CRE market data, positioning this 1974 asset for operational improvements and disciplined value-add execution.
Located in Newark within the Columbus, OH metro, the neighborhood posts a B- rating and functions as an Inner Suburb with balanced access to daily needs. Amenity access ranks 57th out of 580 metro neighborhoods (top quartile) and sits around the mid-60s nationally, suggesting residents can reach groceries, pharmacies, parks, and restaurants without long trips.
For multifamily demand, the share of housing units that are renter-occupied in the neighborhood is elevated at 53.3% and ranks 95th of 580 (top quartile among Columbus neighborhoods), indicating a deep tenant base and support for leasing velocity. Neighborhood occupancy is about 91.5% and slightly above its five-year trend, a backdrop that favors steady collections over time rather than outsized volatility.
The property’s vintage is 1974, newer than the neighborhood’s average construction year of 1945. Newer stock relative to the area tends to compete well versus older buildings, though investors should plan for mid-life system updates and targeted renovations to capture rent premiums.
Within a 3-mile radius, population and households have inched up in recent years, with forecasts through 2028 calling for additional population growth and a notably larger household count alongside smaller average household sizes. That combination typically expands the renter pool and supports occupancy stability. Median contract rents in the 3-mile radius have risen over the last five years and are projected to continue growing, while neighborhood rent-to-income ratios around the low 20% range point to manageable affordability pressure for lease management. If ownership costs remain relatively accessible locally, some competition from entry-level ownership is possible, which may temper pricing power at the margin.
School ratings in the neighborhood are below the national midpoint and sit in the upper-30s percentile range, which may moderate family-oriented demand compared with stronger-rated subareas. Even so, day-to-day convenience is competitive, with restaurants, cafes, groceries, parks, and pharmacies landing near or modestly above national midpoints. These dynamics collectively signal a workforce-oriented location with practical renter appeal, supported by commercial real estate analysis from WDSuite.
Neighborhood safety indicators are mixed but improving. Overall crime ranks 172nd out of 580 Columbus metro neighborhoods, placing the area near the metro midpoint and around the national midpoint. Recent trend data shows year-over-year declines in both property and violent incidents, with those reductions comparing favorably to many neighborhoods nationwide. This directional improvement is constructive for tenant retention and leasing stability, while still warranting routine risk management and security best practices typical for workforce housing.
Regional employers within commuting distance provide a broad base of warehouse/distribution and corporate office jobs that can support renter demand and retention at this location. The list below highlights nearby distribution and headquarters operations relevant to the local workforce.
- Autozone Distribution Center — distribution (26.2 miles)
- L Brands — corporate offices (27.1 miles) — HQ
- Dr Pepper Snapple Group — corporate offices (28.3 miles)
- Wesco Distribution — distribution (28.5 miles)
- Avnet Services - LifeCycle Solutions — corporate services (31.6 miles)
This 60-unit, 1974 vintage property sits in a renter-heavy Newark neighborhood where occupancy is stable and amenity access is competitive within the Columbus metro. The asset is newer than much of the surrounding housing stock, supporting a value-add plan focused on targeted interior upgrades and system modernization to sharpen competitive positioning. According to CRE market data from WDSuite, neighborhood renter-occupied share ranks in the top quartile locally and occupancy has held around the low 90s, underscoring depth of tenant demand.
Within a 3-mile radius, population has grown modestly with forecasts calling for additional population growth and a larger household base by 2028, while average household size trends lower. This typically expands the renter pool and supports consistent leasing. Rent levels have risen over the past five years and are projected to continue increasing, though relatively accessible ownership costs in the neighborhood suggest some competition from entry-level for-sale options, tempering near-term pricing power and making asset-level execution and capex planning important.
- Renter-heavy neighborhood and steady occupancy support durable tenant demand
- 1974 vintage offers value-add upside versus older local stock
- 3-mile radius outlook points to population and household growth, aiding leasing stability
- Amenity access competitive in metro context, supporting day-to-day livability
- Risk: accessible ownership options may constrain rent growth; disciplined renovations and management are key