| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 37th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Lincoln Ct, Cardington, OH, 43315, US |
| Region / Metro | Cardington |
| Year of Construction | 1983 |
| Units | 33 |
| Transaction Date | 2002-02-11 |
| Transaction Price | $807,700 |
| Buyer | LEADS |
| Seller | --- |
200 Lincoln Ct, Cardington OH Multifamily Investment
Neighborhood occupancy trends sit modestly above national medians, supporting stable leasing for a 33-unit asset, according to WDSuite’s CRE market data. Rural location and accessible rents point to steady workforce demand, with pricing set by regional fundamentals rather than urban amenity premiums.
Cardington is a rural neighborhood within the Columbus, OH metro, with a C- neighborhood rating. Amenities are sparse (few cafes, restaurants, parks, or pharmacies nearby), so most residents rely on driving, while grocery access is moderate relative to similar rural areas. For investors, this typically translates to cost-conscious renter demand rather than amenity-driven premiums.
Neighborhood occupancy is above the national midpoint and has edged up over the past five years, suggesting stable renter demand and manageable turnover risk. The neighborhood’s share of renter-occupied housing is competitive among Columbus neighborhoods (ranked 224 out of 580), indicating a meaningful tenant base for multifamily while still operating in a market with a large pool of owners.
Within a 3-mile radius, recent trends show a small decline in population alongside a modest increase in households, pointing to smaller household sizes and a slightly expanding renter pool. Forward-looking projections call for population growth and a notable increase in households through the next five years, which supports occupancy stability and measured rent growth potential for properties at this price point. Median school ratings sit near the national midpoint, aligning with workforce-oriented demand.
Home values in the neighborhood are lower than most U.S. areas, while the rent-to-income relationship is favorable versus national norms. For multifamily owners, this combination can support retention and steady leasing, though lower ownership costs may present some competition from entry-level homebuying. Based on CRE market data from WDSuite, contract rents track below national medians, reinforcing a value-oriented renter profile.
Safety indicators are mixed when viewed against national benchmarks. Overall crime sits below the national median for safety (national percentile near the mid-30s), but violent offense rates trend above the national median for safety (around the low-60s percentile), and property offense indicators are stronger still (mid-70s percentile). Year-over-year changes have been volatile, so investors should underwrite with conservative assumptions and review recent trends at the neighborhood level within the Columbus metro (580 neighborhoods) rather than relying on a single year’s swing.
For underwriting, frame security and capex line items to reflect a rural setting with car-dependent living and varying incident rates over short periods. Comparative, metro-level benchmarking and on-the-ground diligence can help align operating assumptions with the submarket’s long-run trend rather than temporary fluctuations.
Commuter access to major Columbus-area employers underpins workforce housing demand. Key nearby employment nodes include Cardinal Health (and its tech unit Fuse), Parker-Hannifin, and L Brands, which together provide diversified office and corporate roles that can support leasing stability.
- Cardinal Health — healthcare distribution & corporate (29.3 miles) — HQ
- Fuse by Cardinal Health — healthcare tech & innovation (29.6 miles)
- Cardinal Health — corporate offices (29.6 miles)
- Parker-Hannifin Corporation — diversified industrial/corporate (30.1 miles)
- L Brands — retail corporate (30.4 miles) — HQ
Constructed in 1983, this 33-unit property is newer than much of the surrounding housing stock, providing a competitive position versus older inventory while still warranting targeted modernization and systems planning. Neighborhood occupancy trends sit above national medians, and rents are value-oriented relative to income levels—factors that can support steady absorption and retention in a rural, workforce-driven context.
Within a 3-mile radius, households have increased recently despite flat-to-down population, and projections call for population growth and a sizable expansion in households over the next five years—signaling a larger tenant base and support for occupancy stability. Based on commercial real estate analysis from WDSuite, rent levels trail national medians, which can aid lease-up and renewal dynamics but also requires awareness of competition from ownership given comparatively accessible home values.
- 1983 vintage offers competitive positioning versus older neighborhood stock, with room for targeted upgrades
- Above-median neighborhood occupancy supports leasing stability and manageable turnover risk
- 3-mile forecasts show household growth, expanding the renter pool and supporting absorption
- Value-oriented rents relative to incomes can aid renewal capture and pricing discipline
- Risks: limited local amenities, commuting dependence, and potential competition from ownership options; monitor safety variability and underwrite conservatively