| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 60th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 914 Sharon Valley Rd, Newark, OH, 43055, US |
| Region / Metro | Newark |
| Year of Construction | 1997 |
| Units | 60 |
| Transaction Date | 1995-07-10 |
| Transaction Price | $487,538 |
| Buyer | STRATFORD HOUSING LTD PTNS |
| Seller | ROCKFORD HOMES INC |
914 Sharon Valley Rd Newark Multifamily Investment
Neighborhood fundamentals point to resilient renter demand, with occupancy in the surrounding area tracking firmly above national norms according to WDSuite’s CRE market data. The property’s Newark location offers steady workforce appeal within the Columbus metro while benefiting from a deep renter base at the neighborhood level.
Situated in Newark within the Columbus, OH metro, the surrounding neighborhood rates A- and sits in the top quartile among 580 metro neighborhoods. Amenity access is a relative strength: restaurants, groceries, and pharmacies rank in the top quartile locally, with national amenity percentiles in the upper half, supporting day-to-day convenience that helps leasing and retention.
Schools score in the top quartile among 580 metro neighborhoods and around the 73rd percentile nationally, an anchor for family-oriented demand. The neighborhood’s average household size skews smaller than many areas, suggesting a mix of one- and two-bedroom demand profiles that align with typical suburban workforce housing.
For investors, the key near-term demand signal is occupancy: the neighborhood’s occupancy rate is strong (ranked competitive among Columbus neighborhoods and around the 83rd percentile nationally). Renter-occupied housing share is in the top quartile among 580 metro neighborhoods, indicating a deep tenant base that supports leasing velocity and stabilizes occupancy through cycles. Median contract rents in the neighborhood sit below national midpoints, which can support retention while still offering room for disciplined revenue management.
Within a 3-mile radius, recent demographic trends show modest population and household growth, with forecasts calling for a larger tenant base over the next five years alongside smaller average household sizes. Rising median incomes and projected rent growth in the radius point to potential pricing power, but investors should calibrate renewals and lease-ups thoughtfully to manage affordability pressure and sustain retention.
Vintage context: the neighborhood’s average construction year is 1992. With a 1997 construction year, this asset is slightly newer than the local average, which can be advantageous versus older stock. Capital planning should still anticipate periodic system updates and selective common-area refreshes to maintain competitive positioning against newer deliveries across the Columbus metro.
Safety trends are mixed but improving in context. The neighborhood ranks competitive among Columbus neighborhoods (151 out of 580) and sits near the middle nationally overall. Recent year-over-year estimates indicate double-digit declines in both property and violent offenses, a constructive trend for resident satisfaction and leasing stability.
Compared with neighborhoods nationwide, violent incidents benchmark below the national median while property incidents sit lower in the distribution as well; together with the recent downward trend, this suggests conditions that are manageable for typical suburban multifamily operations. As always, investors should confirm current conditions through standard diligence (local reports, site visits, and property-level history) before underwriting.
Proximity to major Columbus-area corporate nodes underpins renter demand, with commutable access to roles across retail, consumer goods, distribution, and corporate services. The nearby base includes L Brands, Dr Pepper Snapple Group, Wesco Distribution, AutoZone Distribution, and Avnet Services.
- L Brands — retail corporate (24.4 miles) — HQ
- Dr Pepper Snapple Group — beverage corporate (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 (29.7 miles)
The investment case centers on durable renter demand, supported by a high neighborhood occupancy rate and a top-quartile renter-occupied housing share within the Columbus metro. Amenity and school access are competitive locally and above national midpoints, which helps sustain retention. According to CRE market data from WDSuite, the area’s occupancy performance and deep tenant base align with steady leasing fundamentals, while median neighborhood rents remain relatively accessible versus national levels, allowing room for thoughtful revenue management.
Built in 1997, the asset is slightly newer than the neighborhood average, offering a modest edge versus older stock while still warranting periodic system updates and select value-add opportunities. Within a 3-mile radius, forecasts call for population and household growth, smaller household sizes, rising incomes, and continued rent gains — conditions that can support occupancy stability and measured rent growth if managed with attention to affordability. Ownership costs in the broader area are elevated relative to incomes, which reinforces reliance on rental housing and supports tenant depth.
- Strong neighborhood occupancy and deep renter base support leasing stability
- Competitive amenity and school access underpin retention versus nearby submarkets
- 1997 vintage offers light value-add and modernization potential versus older stock
- 3-mile forecasts indicate renter pool expansion and income growth supporting demand
- Risks: affordability pressure from rent growth and mixed-but-improving safety trends; plan renewal and CapEx strategy accordingly