| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 34th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 466 Lee St, Mount Gilead, OH, 43338, US |
| Region / Metro | Mount Gilead |
| Year of Construction | 1974 |
| Units | 30 |
| Transaction Date | 1990-11-01 |
| Transaction Price | $270,000 |
| Buyer | VEARD-LEE COURT LIMITED |
| Seller | --- |
466 Lee St Mount Gilead Multifamily Investment
Neighborhood occupancy sits in the mid-90s, supporting steady leasing and cash flow durability according to WDSuite’s CRE market data. This stability in the Mount Gilead area helps underpin income consistency for multifamily owners.
Mount Gilead sits within the Columbus, OH metro and is characterized as a suburban, C-rated neighborhood with generally stable renter demand. Neighborhood occupancy trends are above the national median (69th percentile), which supports leasing continuity and moderates downtime risk for operators, based on CRE market data from WDSuite.
The property’s 1974 vintage is newer than the neighborhood’s average construction year (1965). That relative youth can enhance competitive positioning versus older stock, though investors should still plan for modernization of systems and interiors as part of a value-add or capital improvement program.
Renter-occupied housing accounts for 43.5% of neighborhood units, indicating a meaningful tenant base and depth for multifamily leasing. Within a 3-mile radius, demographics show recent softness in population and household counts but forecasts point to growth over the next five years, which would expand the renter pool and help support occupancy stability. Median contract rents in the neighborhood track below many national comparables, suggesting price-sensitive demand and a focus on practical amenities.
Local amenity access is limited for cafes and parks, while grocery and pharmacy availability is closer to mid-metro norms. For investors, this implies residents may prioritize affordability and convenience over lifestyle offerings, with car-based errand trips common; lease retention can be supported by value-forward renovations and reliable property operations.
Relative to the Columbus metro, the neighborhood’s crime rank is 225 out of 580, which is competitive among Columbus neighborhoods. Nationally, WDSuite’s data indicates safety performance in the upper half of neighborhoods (around the 75th percentile for key indicators), suggesting comparatively lower reported incident rates than many areas.
Recent year-over-year changes show an uptick in reported incidents, so investors should underwrite with prudent operating practices such as lighting, access control, and resident screening. Framing risk at the neighborhood level—rather than the block—supports balanced assumptions while avoiding overprecision.
Regional employers within commuting range include Cardinal Health, Fuse by Cardinal Health, L Brands, and Parker-Hannifin. Their corporate office footprints support steady regional employment, which can reinforce renter demand for workforce-oriented housing.
- Cardinal Health — healthcare distribution (33.9 miles) — HQ
- Fuse by Cardinal Health — technology & innovation hub (34.2 miles)
- Cardinal Health — corporate offices (34.3 miles)
- L Brands — retail & consumer brands (34.5 miles) — HQ
- Parker-Hannifin Corporation — industrial & motion technologies (34.6 miles)
This 1974, 30-unit asset offers a pragmatic workforce housing profile in a suburban Columbus, OH metro setting where neighborhood occupancy trends are above the national median. The vintage presents manageable value-add potential—targeted interior updates and system modernization—to enhance competitiveness against older area stock. Within a 3-mile radius, forecasts indicate population and household growth ahead, which supports renter pool expansion and occupancy stability, while neighborhood rents skew toward practical affordability.
According to CRE market data from WDSuite, renter concentration at the neighborhood level is meaningful, reinforcing depth of demand for multifamily. Ownership costs in the area are relatively accessible compared to many U.S. markets, which can create some competition with entry-level ownership; however, well-managed, updated rentals can maintain pricing power through convenience and reliable operations. Principal risks include limited nearby lifestyle amenities and recent increases in reported incidents, which call for disciplined management and calibrated underwriting.
- Above-median neighborhood occupancy supports stable leasing and limited downtime
- 1974 vintage with clear value-add path via interior and systems upgrades
- 3-mile forecasts point to renter pool expansion, aiding retention and renewal performance
- Workforce-oriented rent levels align with practical demand and operational resilience
- Risks: amenity-light location and recent safety uptick require prudent management and underwriting