| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 31st | Poor |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 109 Caroline Ct, Circleville, OH, 43113, US |
| Region / Metro | Circleville |
| Year of Construction | 1974 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
109 Caroline Ct Circleville 32-Unit Multifamily Opportunity
Neighborhood occupancy is firm and renter-occupied housing is prevalent, supporting demand stability for a 1974-vintage asset, according to WDSuite’s CRE market data. Pricing power is tempered but supported by a high-cost ownership context relative to local incomes.
Located in Circleville within the Columbus, OH metro, the neighborhood carries a B- rating and is characterized as an Inner Suburb. Amenity access is moderate, with restaurant and grocery density performing above many peers nationally while parks are present at a measured level. Cafes are available but not a defining strength, and childcare and pharmacy access are limited in the immediate area.
From an investment perspective, the neighborhood’s occupancy trend is a positive: the neighborhood is 95.3% occupied with a multi‑year improvement, placing it in stronger territory nationally for stability. Renter concentration is also elevated at 52.8% of housing units being renter‑occupied, which indicates a deeper tenant base for multifamily. Median contract rents in the neighborhood sit below many national comparables, while the rent‑to‑income ratio is relatively manageable, supporting retention and lease performance.
Vintage context matters: the property’s 1974 construction is older than the neighborhood’s average vintage (ranked against 580 Columbus‑area neighborhoods), which points to potential value‑add through exterior/interior renovations and systems upgrades. This positioning can help the asset compete against newer product while requiring prudent capital planning.
Demographic indicators aggregated within a 3‑mile radius show modest recent population growth and an increase in households, with forecasts calling for further household expansion and smaller average household sizes over the next five years. These shifts generally translate into a larger renter pool and support occupancy stability, even if income levels remain below national norms. Elevated home value-to-income ratios (top quartile nationally) indicate a high‑cost ownership market relative to local earnings, which tends to sustain multifamily demand rather than diverting renters to ownership.
Safety indicators are mixed when viewed in context. Overall crime levels place the area around the metro midpoint among 580 Columbus neighborhoods, with stronger positioning on violent offenses than on property-related incidents when compared nationally. Said differently, the neighborhood trends safer than many for violent crime (upper-half nationally) but shows weaker performance on property crime (lower national percentile).
Investors should note that recent data signal an uptick in property offenses at the neighborhood level, while violent offense levels remain comparatively favorable. As always, align underwriting with current local enforcement, property security measures, and tenant profile to manage exposure.
Proximity to employment nodes in the southern Columbus corridor supports renter demand via commute convenience. Nearby employers include Avnet Services, The Xerox Company, Avnet Services – LifeCycle Solutions, American Electric Power, and Nationwide.
- Avnet Services — corporate offices (17.1 miles)
- The Xerox Company — corporate offices (17.2 miles)
- Avnet Services - LifeCycle Solutions — corporate offices (18.4 miles)
- American Electric Power — corporate offices (26.1 miles) — HQ
- Nationwide — corporate offices (26.3 miles) — HQ
This 32‑unit, 1974‑vintage asset benefits from a renter‑heavy neighborhood profile and historically solid neighborhood occupancy near 95%, supporting income durability. According to CRE market data from WDSuite, the area’s rent levels and rent‑to‑income dynamics are comparatively manageable, aiding lease retention while the high-cost ownership context relative to incomes helps sustain multifamily demand.
The property’s older vintage versus neighborhood norms suggests actionable value‑add through unit renovations and building systems updates to enhance competitiveness. Household growth within a 3‑mile radius and a forecast for more, smaller households indicate a gradually expanding tenant base that supports stable absorption, though investors should account for modest incomes and mixed property‑crime trends in underwriting.
- Durable demand signal: elevated neighborhood renter concentration and occupancy near 95% support income stability.
- Value‑add potential: 1974 construction offers scope for renovations and operational upgrades to improve competitive positioning.
- Retention support: manageable rent‑to‑income dynamics and an ownership market that skews costlier relative to incomes sustain rental reliance.
- Demand outlook: 3‑mile household growth and smaller household sizes point to a larger renter pool over time.
- Risks: modest income levels and recent property‑crime pressure warrant conservative expense, security, and rent‑growth assumptions.