| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 32nd | Poor |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 520 Fowlers Ln, New Lexington, OH, 43764, US |
| Region / Metro | New Lexington |
| Year of Construction | 1975 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
520 Fowlers Ln New Lexington Multifamily Opportunity
The neighborhood’s occupancy is roughly 95%, supporting steadier collections and lower downtime, according to WDSuite’s CRE market data. With a modest renter base and accessible rents, this asset’s demand drivers lean toward workforce stability rather than volatility.
Located in suburban New Lexington within the Columbus, OH metro, the area carries a B- neighborhood rating and shows above metro median occupancy conditions for the neighborhood, which can help support leasing stability. Renter-occupied housing share sits around two-fifths of units, indicating a workable tenant pool for a 32-unit property without overreliance on transient demand. Amenities such as groceries, parks, pharmacies, and cafes are present at moderate levels, providing day-to-day convenience without commanding urban premiums.
Amenity access ranks competitively among 580 metro neighborhoods (rank 83), effectively in the top quartile locally, while national amenity percentiles generally sit around the middle of the pack. Average school ratings in the surrounding area trend below national norms, which may limit appeal to some households; investors should underwrite this as a potential drag on long-term family retention and focus positioning on workforce renters.
The asset’s 1975 vintage is newer than the neighborhood’s older housing stock (average around the late 1940s), suggesting relative competitiveness versus pre-war properties. Investors should still plan for systems upgrades and value-add improvements typical for 1970s construction, but the vintage can be an advantage in unit livability and deferred maintenance scope versus much older stock.
Demographic statistics are aggregated within a 3-mile radius. Recent population trends have been soft, yet forecasts indicate potential growth with a rising share of smaller households, which can expand the renter pool for appropriately sized units and support occupancy stability. Home values are comparatively low for the region, which can introduce some competition from entry-level ownership; however, accessible rents and a low rent-to-income profile (high national percentile) often support tenant retention and measured rent growth in line with local income trends.
Comparable safety metrics for this neighborhood are not available in the current dataset. Investors typically benchmark neighborhood conditions against metro averages and trend sources (e.g., public crime dashboards) to assess relative risk and potential impacts on leasing and retention. Where data is limited, underwriting should incorporate conservative assumptions and a focus on on-site visibility, lighting, and property management practices.
Within a commutable range, distribution, technology services, and consumer goods employers contribute to a diversified workforce that can support renter demand and lease retention for workforce housing. The following employers reflect the nearest meaningful nodes.
- Autozone Distribution Center — distribution (24.8 miles)
- Avnet Services — technology services (39.3 miles)
- Avnet Services — LifeCycle Solutions — technology services (39.5 miles)
- The Xerox Company — corporate offices (39.5 miles)
- Dr Pepper Snapple Group — consumer goods (42.5 miles)
This 32-unit, 1975-vintage asset benefits from neighborhood fundamentals that are above the metro median for occupancy and supported by a balanced renter concentration. Relative to the area’s older housing stock, the property’s vintage can compete well with value-add updates targeting durable finishes, energy-efficiency, and common-area improvements.
Rents in the area remain accessible and the rent-to-income profile is favorable, which can support retention and measured rent growth tied to local wages. According to CRE market data from WDSuite, neighborhood occupancy remains healthy versus many Columbus-area peers, while 3-mile forecasts point to more, smaller households—expanding the tenant base for right-sized units—though investors should remain disciplined on pricing as income trends appear mixed.
- Above-metro-median neighborhood occupancy supports steadier lease-up and reduced downtime.
- 1975 vintage offers value-add potential with competitive positioning versus much older local stock.
- Accessible rents and favorable rent-to-income ratios enhance tenant retention and leasing velocity.
- Risk: lower school ratings and entry-level ownership options may temper family-oriented demand and rent growth.