| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 45th | Fair |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 770 Columbia St, Newark, OH, 43055, US |
| Region / Metro | Newark |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
770 Columbia St Newark OH 24-Unit Multifamily
Neighborhood occupancy has held in the low-90% range and renter demand is competitive among Columbus suburbs, according to WDSuite’s CRE market data, positioning this 1978 asset for stable cash flow with potential value-add upside.
Located in Newark within the Columbus, OH metro, the property sits in an Inner Suburb neighborhood rated C+ and ranked 360 among 580 metro neighborhoods. That places the area near the metro median, suggesting steady but not overheated fundamentals that can support consistent leasing.
Renter-occupied housing accounts for a meaningful share of units locally, with the neighborhood s renter concentration competitive among Columbus neighborhoods (rank 227 of 580; higher share than many peers). Neighborhood occupancy is 93.5% and has improved over the past five years; these metrics describe the neighborhood, not the property, and point to demand depth that can help sustain tenancy and reduce downtime.
Within a 3-mile radius, demographics signal a growing tenant base: population and households have been trending upward with further gains projected, which supports a larger renter pool and occupancy stability. The 3-mile area shows a renter share near 44%, reinforcing depth for multifamily leasing while household sizes are gradually edging smaller, which often favors apartment demand.
Everyday conveniences are reachable, with grocery access and restaurants performing above national midpoints (around the 70th percentile nationally), while parks, pharmacies, and cafes are thinner nearby. Average school ratings sit roughly around the national midpoint. For investors, this mix suggests reliable workforce-oriented demand with some amenity gaps that may be mitigated by property-level features or partnerships.
The property s 1978 vintage is newer than the neighborhood s older housing stock (average construction year 1930). That positioning can enhance competitiveness versus older comparables, while still calling for targeted capital planning for building systems and interiors to capture value-add potential.
Safety trends should be viewed in both metro and national context. The neighborhood s crime rank is 122 out of 580 Columbus neighborhoods, indicating higher crime exposure than many metro peers. Nationally, it sits modestly above the median for safety (56th percentile), and recent momentum is favorable: estimated property offenses declined about 43% year over year and violent offenses fell roughly 34%, trends that, while not eliminating risk, point to improving conditions.
Regional employment nodes within commuting distance—spanning retail/consumer brands, distribution, and corporate services—support a broad workforce renter base and can aid lease retention for Newark apartments. Nearby examples include L Brands, Dr Pepper Snapple Group, Wesco Distribution, Autozone Distribution Center, and Avnet Services.
- L Brands — consumer brands HQ (24.7 miles) — HQ
- Dr Pepper Snapple Group — beverage distribution/offices (26.0 miles)
- Wesco Distribution — industrial distribution (26.2 miles)
- Autozone Distribution Center — automotive distribution (28.6 miles)
- Avnet Services - LifeCycle Solutions — technology services (29.6 miles)
770 Columbia St offers a 24-unit garden-style footprint in Newark with neighborhood metrics that point to durable renter demand. Neighborhood occupancy is in the low-90% range with five-year improvement, and renter concentration is competitive among Columbus neighborhoods—factors that support stabilized operations. The 1978 vintage is newer than much of the local housing stock, creating a positioning edge versus older comparables while leaving room for targeted renovations to enhance NOI.
Within a 3-mile radius, population and household counts are expanding, indicating a larger tenant base over time. Rent-to-income levels in the neighborhood remain manageable (around 0.14), suggesting limited affordability pressure that can aid retention and measured rent growth, according to commercial real estate analysis from WDSuite. Home values are relatively accessible in this submarket, which can introduce ownership competition, but a meaningful renter pool and commute access to regional employers help sustain multifamily demand.
- Neighborhood occupancy in the low-90% range supports leasing stability
- Renter concentration competitive among Columbus neighborhoods indicates depth of demand
- 1978 vintage offers value-add potential versus older local stock
- Expanding 3-mile population and households point to a growing tenant base
- Risk: Safety ranks weaker versus many metro peers and amenity gaps (parks/cafes) may require property-level offsets