| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 58th | Good |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 270 Lexington Ave, Ashville, OH, 43103, US |
| Region / Metro | Ashville |
| Year of Construction | 1993 |
| Units | 41 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
270 Lexington Ave, Ashville OH Multifamily Opportunity
Neighborhood occupancy is in the top quartile nationally and above the metro median, supporting stable collections at this scale, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions, not the property, helping investors gauge demand durability in this Inner Suburb of the Columbus metro.
Located in Ashville within the Columbus, OH metro, the neighborhood carries a B rating and ranks 265 out of 580 metro neighborhoods, indicating performance above the metro median. Local occupancy sits in the national top quartile, pointing to steady renter demand and potential leasing resilience at 41 units. The area’s renter-occupied share is 42.0% (neighborhood-level), suggesting a meaningful tenant base for multifamily operators.
Livability indicators are balanced: average school ratings are competitive among Columbus neighborhoods (ranked 83 of 580; about the 70th percentile nationally), and day-to-day needs are serviceable with restaurants, groceries, and pharmacies near metro medians. However, cafes and parks are limited in the immediate neighborhood, which investors should weigh against the broader regional amenity set available within the Columbus area.
The 1993 vintage is newer than the neighborhood’s average construction year of 1966, which can provide a relative competitive edge versus older stock. Operators should still plan for modernization of common areas and systems as appropriate to support retention and rent positioning over the hold period.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth with further expansion forecast, indicating a larger tenant base over time. Median contract rent at the neighborhood level sits in a moderate range and rent-to-income is favorable (neighborhood metric), which can help sustain lease retention while allowing for disciplined revenue management. Median home values are modest for the region, so ownership is attainable for some households; even so, the combination of growth and a substantial renter pool supports ongoing multifamily demand.
WDSuite does not report a current crime rank or national percentile for this neighborhood, so investors should benchmark safety using broader Columbus metro trends and multi-year patterns rather than block-level assumptions. Consider underwriting with sensitivity to property-level security measures and resident experience, and corroborate with municipal and third-party sources as part of due diligence.
Proximity to regional employers supports commute convenience and renter retention. Notable nearby corporate offices include Avnet, Xerox, and larger Columbus HQs such as American Electric Power and Nationwide.
- Avnet Services — corporate offices (8.4 miles)
- The Xerox Company — corporate offices (8.54 miles)
- Avnet Services - LifeCycle Solutions — corporate offices (9.75 miles)
- American Electric Power — corporate offices (17.25 miles) — HQ
- Nationwide — corporate offices (17.46 miles) — HQ
This 41-unit, 1993-vintage asset benefits from neighborhood-level occupancy in the national top quartile and a renter-occupied share that indicates a sizable tenant base. According to CRE market data from WDSuite, the area’s school quality is competitive within the Columbus metro and day-to-day services (grocery, pharmacy, restaurants) are near metro norms, supporting resident stickiness even as the immediate café and park offerings are thinner.
Demographic data within a 3-mile radius points to population and household growth, with forecasts indicating further renter pool expansion and rising median contract rents over the next five years. The asset’s newer-than-neighborhood average vintage can reduce near-term capital intensity versus older comparables, while modernization and light value-add can help capture demand and sustain occupancy.
- Occupancy strength at the neighborhood level supports leasing stability and collections.
- 1993 vintage offers competitive positioning versus older local stock, with targeted upgrades to drive NOI.
- 3-mile demographic growth and projected rent gains expand the tenant base and revenue potential.
- Balanced amenity access (groceries, pharmacies, restaurants) aids retention despite limited cafés/parks nearby.
- Risk: amenity scarcity in the immediate neighborhood and auto-oriented commutes may cap rent premiums; underwrite conservatively.