| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 60th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 569 Derby Downs Rd, Newark, OH, 43055, US |
| Region / Metro | Newark |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
569 Derby Downs Rd Newark Multifamily Investment
Neighborhood fundamentals point to steady renter demand, with occupancy near 97% at the neighborhood level and a renter-occupied share around 59%, according to WDSuite’s CRE market data. This balance supports durable cash flow potential for a 20-unit asset in Newark, Ohio.
The property sits in an Inner Suburb of the Columbus, OH metro with an A- neighborhood rating (ranked 91 of 580 metro neighborhoods), signaling broadly attractive livability for multifamily. Amenity access is competitive among Columbus neighborhoods: restaurants and grocery options rank in the top 10% locally and test above national medians, which supports day-to-day convenience for residents and helps with leasing velocity.
At the neighborhood level, occupancy is about 97%, placing it in the top quintile nationally for stability. The share of housing units that are renter-occupied is roughly 59% (93rd national percentile), indicating a deep tenant base and reinforcing demand for multifamily units. Median contract rents in the area benchmark below national medians, which can aid retention and reduce turnover pressure while still allowing for thoughtful revenue management.
Schools score well relative to the metro (ranked 77 of 580, top quartile in Columbus), and national positioning is above the median, which can support resident stickiness. Pharmacy access also ranks strongly at the metro level and in national percentiles, while parks and formal childcare are limited nearby; operators may see stronger appeal among singles, couples, and downsizing households rather than families prioritizing those amenities.
Vintage context matters: the property was built in 1977, older than the neighborhood’s average vintage (1992). This typically points to capital planning needs but also creates value-add potential through targeted renovations and systems upgrades to stay competitive versus newer stock. Within a 3-mile radius, demographics show a stable population today with a projected increase in households of roughly one-third over the next five years, expanding the renter pool and supporting occupancy stability and leasing momentum based on CRE market data from WDSuite.
Affordability dynamics are supportive for rentals: neighborhood home values sit below national medians, but ownership costs relative to incomes score high on a value-to-income basis (top quartile nationally), which can sustain reliance on multifamily housing. Rent-to-income in the neighborhood trends near 20%, suggesting moderate affordability pressure that favors retention with prudent lease management.
Safety trends are comparatively stable for the metro context. The neighborhood ranks 151 out of 580 Columbus neighborhoods on crime, which is competitive among Columbus neighborhoods. Nationally, overall safety aligns slightly above the median, while property and violent offense measures sit closer to mid-pack. Year over year, both property and violent offense rates have improved meaningfully, indicating a favorable directional trend without implying block-level conditions.
Regional employment anchors within commuting range help support workforce housing demand, with proximity to corporate offices and distribution operations that contribute to a diversified renter base. The list below highlights nearby employers that align with daily commuter patterns for Newark residents.
- L Brands — retail corporate (24.1 miles) — HQ
- Dr Pepper Snapple Group — beverage distribution (25.9 miles)
- Wesco Distribution — industrial distribution (25.9 miles)
- Autozone Distribution Center — auto parts distribution (29.9 miles)
- Avnet Services - LifeCycle Solutions — electronics services (30.2 miles)
569 Derby Downs Rd offers an attainable entry point into Newark’s renter-driven submarket, where neighborhood occupancy trends near 97% and the renter-occupied share is elevated. Within a 3-mile radius, households are projected to grow by roughly one-third over the next five years, implying a larger tenant base and support for leasing stability. According to commercial real estate analysis from WDSuite, amenity access (food, grocery, pharmacy) is strong versus both metro and national benchmarks, aiding day-to-day livability and retention.
Built in 1977, the asset is older than the neighborhood’s average vintage, creating clear value-add pathways through unit and common-area renovations, as well as targeted building systems updates. Neighborhood rent levels trail national medians and rent-to-income runs near 20%, which can support retention and steady collections; however, NOI per unit trails national benchmarks, suggesting that growth depends on operational execution and selective upgrades rather than outsized rent pushes.
- Occupancy stability at the neighborhood level and high renter concentration support durable tenant demand
- 3-mile household growth projections expand the renter pool and reinforce leasing momentum
- Strong amenity access (restaurants, groceries, pharmacies) aids retention and daily convenience
- 1977 vintage presents value-add potential through renovations and systems upgrades
- Risks: NOI per unit trails national comparisons; limited parks/childcare nearby could narrow target renter profile