| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 37th | Poor |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 W Main St, Cardington, OH, 43315, US |
| Region / Metro | Cardington |
| Year of Construction | 1983 |
| Units | 28 |
| Transaction Date | 1999-08-03 |
| Transaction Price | $735,000 |
| Buyer | DISBENNETT RODNEY E |
| Seller | RAY THOMAS E |
101 W Main St Cardington OH Multifamily Investment
Neighborhood occupancy has held near the national midpoint with steady renter demand, according to WDSuite’s CRE market data, supporting a straightforward hold-or-value-add strategy in a rural Columbus-area micromarket.
Cardington is a rural submarket within the Columbus, OH region, offering small-town livability with limited retail and lifestyle amenities nearby. Neighborhood rankings place it below the metro median for amenity density, so residents typically rely on regional corridors for shopping, dining, and services.
From an investment perspective, the neighborhood’s occupancy (measured for the neighborhood, not this property) trends around the national midpoint, which supports baseline income stability relative to similar rural options. Median contract rents in the neighborhood are on the lower end for the metro, which can aid retention but may temper near-term pricing power.
Within a 3-mile radius, demographics show modest population softness in recent years alongside an increase in the total number of households, indicating smaller household sizes and a gradually expanding tenant base. Forward-looking projections point to growth in both households and incomes through the forecast period, which can support absorption and lease-up even as new supply enters larger Columbus submarkets.
Home values in the neighborhood are lower than many Columbus-area locales, which can introduce some competition from ownership options. That said, relatively low rent-to-income levels suggest manageable affordability pressure for renters, a dynamic that can support lease duration and reduce turnover risk for multifamily owners.
Relative to the Columbus metro, the neighborhood’s overall crime rank is in the safer half (ranked 90 out of 580 metro neighborhoods), and it trends above the national median for safety. Violent offense metrics are particularly favorable, landing in the top decile nationally compared with neighborhoods across the country.
Property offense indicators compare well nationally too, but recent year-over-year movement shows an uptick. Investors should underwrite with conservative assumptions on security and loss reserves while recognizing that, on a comparative basis, the area remains competitive among Columbus neighborhoods on core safety measures.
Commuter access to major Columbus employers underpins renter demand, with proximity suitable for workforce tenants tied to healthcare, retail, and corporate services. The following nearby employers help anchor the regional labor market exposure referenced here.
- Cardinal Health — healthcare distribution (29.5 miles) — HQ
- Fuse by Cardinal Health — healthcare technology (29.9 miles)
- Parker-Hannifin Corporation — diversified manufacturing offices (30.2 miles)
- L Brands — retail & consumer corporate (30.8 miles) — HQ
- Nationwide — insurance & financial services (37.1 miles) — HQ
This 28‑unit asset sits in a rural micromarket with steady neighborhood occupancy and a renter base supported by commuter access to Columbus employment nodes. Lower neighborhood rents and a favorable rent-to-income profile indicate room for disciplined revenue management while maintaining retention, based on CRE market data from WDSuite.
Household counts within a 3-mile radius have increased despite softer population trends, and forecasts point to more households and higher incomes over the next five years. That combination can expand the local tenant pool and support occupancy stability, though owners should balance expectations given limited nearby amenities and potential competition from relatively accessible homeownership.
- Stable neighborhood occupancy supports predictable cash flow relative to similar rural Columbus locales.
- Favorable rent-to-income profile suggests retention strength with room for measured rent optimization.
- Growing household counts and income gains within a 3-mile radius point to a gradually expanding renter pool.
- Regional access to major Columbus employers supports workforce housing demand and leasing resiliency.
- Risks: limited local amenities, competition from ownership options, and recent property-crime uptick warrant conservative underwriting.