| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 42nd | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 338 W Main St, Mount Sterling, OH, 43143, US |
| Region / Metro | Mount Sterling |
| Year of Construction | 1982 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
338 W Main St Mount Sterling, OH Multifamily Investment
Stabilized renter demand and relatively low rent-to-income metrics in the neighborhood point to steady leasing and retention potential, based on CRE market data from WDSuite.
Mount Sterling is a rural submarket within the Columbus, OH metro, with a neighborhood rating of C and a rank of 414 out of 580 neighborhoods—below the metro median. For investors, that positioning suggests a value-focused play rather than a core location, with demand anchored by regional employment and drive-to conveniences.
The asset’s 1982 vintage is newer than the area’s average construction year of 1960, which helps competitive positioning versus older stock. Investors should still plan for targeted modernization of aging systems and common areas to support rent attainment and leasing velocity.
Livability signals are mixed: parks and pharmacies score in the upper half nationally (around the 67–68th percentiles), while restaurants and cafes are sparse locally. Grocery access trends near the national midpoint. This pattern supports everyday convenience but limits lifestyle-driven premiums; underwriting should focus on functional value and workforce appeal rather than amenity-led rent lifts.
Tenure patterns indicate a moderate renter base: neighborhood data and 3-mile statistics show a meaningful share of housing units are renter-occupied, providing depth for multifamily demand without overreliance on transient households. Neighborhood occupancy sits in the national mid-range and has been broadly stable in recent years, while a low rent-to-income ratio supports lease retention and cash flow consistency. Within a 3-mile radius, recent population growth coupled with an increase in households points to a larger tenant base; forward-looking projections show households continuing to rise even if population levels flatten, implying smaller household sizes and ongoing demand for rental units.
Ownership costs in the area are relatively accessible compared with high-cost metros, which can modestly increase competition from for-sale options. Even so, home values have risen materially over the past cycle, and sustained income gains in the 3-mile area can support steady rent growth expectations and pricing power for well-maintained units.
Neighborhood safety metrics are competitive among Columbus neighborhoods (ranked 150 out of 580), and overall conditions compare slightly better than the national midpoint according to WDSuite’s CRE market data. Violent offense rates benchmark in the higher national percentiles, indicating comparatively safer outcomes versus many neighborhoods nationwide.
Property offense measures sit in the upper national percentiles for safety as well, but year-over-year volatility has been elevated locally. Investors should track trendlines and incorporate prudent security, lighting, and access controls into capital plans to support tenant retention and minimize loss exposure.
Regional employment is anchored by logistics, retail headquarters, and enterprise services in the Columbus corridor, supporting workforce housing demand and reasonable commute times for renters. Notable nearby employers include Staples Fulfillment Center, Big Lots, The Xerox Company, and Avnet Services.
- Staples Fulfillment Center — fulfillment & logistics (14.6 miles)
- Big Lots — retail headquarters (19.0 miles) — HQ
- The Xerox Company — business services (20.4 miles)
- Avnet Services — IT services (20.5 miles)
- Avnet Services - LifeCycle Solutions — IT asset lifecycle (21.2 miles)
This 28-unit property built in 1982 offers a value-oriented entry point in a rural Columbus metro location where occupancy trends are steady and rent burdens are low. The vintage is newer than the neighborhood average, which can translate into an advantage versus older competing assets; selective modernization should further strengthen leasing performance. Within a 3-mile radius, recent population growth and an increase in households expand the tenant base, and even as population levels are projected to level off, household counts are expected to rise—implying smaller household sizes and ongoing renter demand. According to CRE market data from WDSuite, neighborhood affordability and mid-range occupancy underpin stable cash flow potential.
Amenity access is functional rather than lifestyle-driven, which suggests underwriting centered on workforce demand and commute convenience. Ownership remains relatively accessible locally, creating some competition with for-sale options; however, rising home values and income gains can support sustained rental demand and retention for well-maintained units.
- 1982 vintage newer than area average; value-add upgrades can enhance competitiveness
- Low rent-to-income dynamics support retention and predictable collections
- 3-mile area shows recent growth and rising household counts, reinforcing tenant demand
- Functional amenity access and proximity to regional employers align with workforce housing
- Risk: accessible homeownership and limited dining/entertainment nearby may temper rent premiums