| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 37th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Park St, Cardington, OH, 43315, US |
| Region / Metro | Cardington |
| Year of Construction | 1997 |
| Units | 33 |
| Transaction Date | 1996-10-30 |
| Transaction Price | $100,000 |
| Buyer | DRUSID INVESTMENTS 2 |
| Seller | SKYLARK PROPS |
400 Park St, Cardington OH Multifamily Investment
Neighborhood occupancy sits in a stable range and renter demand is supported by a meaningful renter-occupied share, while low rent-to-income ratios point to retention potential, according to WDSuite s CRE market data.
Set in a rural pocket of the Columbus, OH metro, the neighborhood shows steady occupancy and a renter-occupied share that signals a workable tenant base for a 33-unit asset. The area s renter concentration is competitive among Columbus neighborhoods (224 of 580) and sits in a higher national percentile, indicating deeper multifamily demand than headline rural characteristics might suggest.
Everyday conveniences are limited locally, with few cafes, restaurants, parks, and pharmacies inside the immediate neighborhood. A modest presence of grocery options places the area close to the national midpoint for access. For operators, this typically translates into car-dependent living and leasing that leans on value, larger floor plans, or on-site amenities rather than walkable retail.
Within a 3-mile radius, households have increased even as population dipped slightly in recent years, and forecasts call for additional household growth alongside smaller average household sizes. That dynamic usually broadens the renter pool and supports occupancy stability for well-managed properties. Median school ratings track near national midrange, fitting a workforce housing profile rather than a premium school-driven tenancy.
Local housing stock skews older (average vintage mid-20th century), which positions a 1997-built asset as relatively newer versus neighborhood comparables. Newer construction can enhance leasing competitiveness versus older stock, though investors should still plan for age-related system updates as part of ongoing capital planning.
Safety signals are mixed. The neighborhood ranks 257 out of 580 within the Columbus metro, suggesting it is not among the metro s safer areas. Nationally, however, property and violent offense measures sit above average percentiles (safer relative to many U.S. neighborhoods), indicating comparative strength outside the region. Recent one-year changes point to volatility, so investors may want to monitor trend direction rather than relying on a single snapshot.
- Cardinal Health 4 corporate offices (29.3 miles) 4 HQ
- Fuse by Cardinal Health 4 corporate innovation (29.6 miles)
- Cardinal Health 4 corporate offices (29.6 miles)
- Parker-Hannifin Corporation 4 corporate offices (29.9 miles)
- L Brands 4 corporate offices (30.5 miles) 4 HQ
Built in 1997, the property is newer than most nearby housing stock, offering a competitive edge versus older assets while still warranting routine system modernization over the hold. Neighborhood occupancy trends are steady, renter-occupied share is meaningful, and rent-to-income levels indicate manageable affordability pressure all supportive of retention and stable collections based on commercial real estate analysis from WDSuite.
The rural setting implies car-dependent living and thinner amenity density, yet a growing household count within 3 miles and a shift toward smaller household sizes expand the renter base over time. Ownership remains relatively accessible in this area, which can create competition with rentals; operators that emphasize value, dependable operations, and unit quality typically capture durable demand.
- 1997 vintage offers relative competitiveness versus older neighborhood stock with manageable capex planning.
- Occupancy stability and a solid renter-occupied share support leasing consistency for a 33-unit property.
- Low rent-to-income dynamics suggest pricing headroom and potential for stronger retention.
- Expanding household counts within 3 miles and smaller household sizes point to a broader tenant base.
- Risks: limited local amenities, potential competition from accessible ownership options, and safety trends that warrant monitoring.