| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 32nd | Poor |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Lincoln Park Dr, New Lexington, OH, 43764, US |
| Region / Metro | New Lexington |
| Year of Construction | 1978 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
400 Lincoln Park Dr, New Lexington OH Multifamily
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the area, according to WDSuite’s CRE market data. Affordability relative to incomes supports retention, while a competitive renter concentration provides depth for leasing.
Livability in this suburban pocket of New Lexington trends practical for workforce housing. Neighborhood amenity access sits around the middle of the pack nationally (grocery, parks, pharmacies, and a modest mix of cafes and restaurants), which supports day-to-day convenience for residents without relying on long commutes for essentials. School ratings in the neighborhood are below national norms, a factor investors may weigh when assessing family-oriented demand.
On the operations side, the neighborhood s occupancy rate ranks 271 out of 580 metro neighborhoods above the metro median and in the 72nd percentile nationally. The share of housing units that are renter-occupied is 40.6% (ranked 168 of 580), which is competitive among Columbus neighborhoods and in the higher range nationally, indicating a meaningful tenant base for multifamily. These metrics are measured for the neighborhood, not the property.
Within a 3-mile radius, recent demographics show a modest population decline over the last five years but smaller household sizes, with forecasts indicating largely flat population alongside an increase in household counts. For investors, a stable-to-expanding household base can help support occupancy even if population growth is muted, aligning with practical leasing expectations rather than rapid expansion. This commercial real estate analysis suggests demand may be steady but not speculative.
Ownership costs are relatively accessible for the region, which can create some competition with for-sale options. However, lower rent-to-income levels locally point to manageable rent burdens that can aid lease retention and reduce turnover sensitivity, with pricing power determined more by asset quality and renovation positioning than by scarcity.
Metro-comparable crime statistics for this specific neighborhood are limited in WDSuite at this time. Investors typically benchmark property-level safety measures against broader Perry County and Columbus metro patterns and review recent trends through multiple sources. A prudent approach is to underwrite to current on-site practices (lighting, access control, and visibility) and compare against similar suburban assets nearby rather than relying on block-level assumptions.
Regional employers within commuting distance support a steady workforce renter pool, with distribution, technology services, consumer brands, and beverages represented in the drive-shed highlighted below.
- Autozone Distribution Center distribution (24.0 miles)
- Avnet Services IT services (39.1 miles)
- The Xerox Company business services (39.3 miles)
- Dr Pepper Snapple Group beverages (42.1 miles)
- L Brands retail & apparel (43.5 miles) HQ
Built in 1978 and totaling 50 units, the asset presents a straightforward value-add path: vintage positioning suggests potential returns on targeted renovations (exteriors, interiors, and building systems) while competing effectively against older neighborhood stock. Neighborhood metrics signal durable renter demand above-median occupancy locally and a renter concentration that is competitive within the Columbus metro which supports baseline leasing stability. Based on CRE market data from WDSuite, relatively low rent-to-income levels point to manageable affordability pressure that can help retention, with rent growth tied to execution quality rather than market scarcity.
Within a 3-mile radius, recent data show population trending flat to slightly down, but household counts projected to rise as average household size declines a pattern that can expand the renter pool even without broad population growth. Ownership remains comparatively accessible, which can temper outsized rent gains but also anchors the area as a value segment where renovated, well-managed units can capture steady demand.
- Above-median neighborhood occupancy and competitive renter concentration support leasing stability.
- 1978 vintage offers clear value-add and systems-upgrade opportunities to drive NOI.
- Affordability relative to incomes supports retention; rent growth tied to renovation quality and management.
- Demographic shift toward smaller households may expand the tenant base despite flat population.
- Risks: below-average school ratings and accessible homeownership can constrain premium pricing; underwrite renovations and marketing accordingly.