| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 46th | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 320 Pontious Ln, Circleville, OH, 43113, US |
| Region / Metro | Circleville |
| Year of Construction | 1989 |
| Units | 48 |
| Transaction Date | 2007-12-11 |
| Transaction Price | $6,600,000 |
| Buyer | OHIO II INVESTORS LLC |
| Seller | OHIO II ACQUISITIONS LLC |
320 Pontious Ln Circleville Multifamily Investment Opportunity
Neighborhood multifamily occupancy is consistently near the mid-90s and trending up, according to WDSuite’s CRE market data, pointing to steady tenant demand and lease stability in this Inner Suburb of the Columbus metro. These metrics are measured for the neighborhood, not the property.
The property’s Circleville location sits within an Inner Suburb of the Columbus, OH metro (neighborhood rating: C+), where neighborhood multifamily occupancy is in the 70th percentile nationally and has improved over the past five years. A renter concentration near half of housing units (47.8% renter-occupied; above the metro median and 87th percentile nationally) indicates a deep tenant base, supporting demand durability for a 48-unit asset.
Vintage matters: constructed in 1989, the asset is materially newer than the neighborhood’s average construction year of 1964. That positioning can enhance competitiveness versus older nearby stock, though investors should plan for aging systems and selective modernization to meet current renter expectations.
Local amenities are limited in several categories (few parks, groceries, and cafes), but pharmacies are relatively accessible (around the upper-third nationally) and restaurant density is near the national midpoint. Average school ratings trend below national norms, which can influence family-driven leasing dynamics and should be considered in unit mix and marketing strategy.
Within a 3-mile radius, demographics show a modest population increase in recent years and a clearer rise in households, with projections calling for additional population growth and a notable increase in households. Smaller average household sizes over time point to more one- and two-person renter households, supporting occupancy stability. Median home values in the neighborhood are lower relative to national levels, and with rent-to-income around the low-to-mid teens for the neighborhood, pricing appears manageable for many renters — favorable for retention and lease management.
Safety indicators are mixed. The neighborhood ranks 214 out of 580 Columbus-area neighborhoods for crime, which places it competitive among Columbus neighborhoods but below the national median for safety. Property offense measures track higher than national norms, while violent offense levels sit closer to the national midpoint with a recent year-over-year decline that suggests improving trends. These figures describe neighborhood conditions, not the specific property.
Proximity to a broad employment base supports workforce housing demand and commute convenience, including corporate services and major headquarters in the Columbus region such as Avnet Services, The Xerox Company, Avnet Services LifeCycle Solutions, American Electric Power, and Nationwide.
- Avnet Services — corporate services (15.9 miles)
- The Xerox Company — corporate services (16.0 miles)
- Avnet Services - LifeCycle Solutions — corporate services (17.2 miles)
- American Electric Power — utilities (25.1 miles) — HQ
- Nationwide — insurance (25.3 miles) — HQ
At 48 units and built in 1989, this Circleville asset benefits from neighborhood fundamentals that favor stable occupancy and an established renter base. Neighborhood occupancy sits in the top third nationally and has been improving, and renter-occupied housing is elevated versus metro norms, indicating depth of demand for multifamily units. According to CRE market data from WDSuite, the area’s lower home values relative to national levels, together with a neighborhood rent-to-income ratio near the low-to-mid teens, support tenant retention and measured pricing power.
Demographics aggregated within a 3-mile radius show recent population growth and a faster rise in households, with forecasts pointing to further expansion and smaller average household sizes — conditions that typically expand the renter pool and support leasing velocity for one- and two-bedroom layouts. Compared with older neighborhood stock (average year 1964), the 1989 vintage can compete effectively, though investors should underwrite for ongoing capital needs typical of late-1980s construction. Limited amenity breadth and below-average school ratings, along with a mixed but improving safety trend, remain watch items for leasing and retention strategy.
- Improving neighborhood occupancy and elevated renter concentration support demand stability
- 1989 vintage offers an edge versus older local stock with targeted value-add potential
- 3-mile household growth and smaller household sizes expand the renter pool
- Lower home values vs. national context sustain rental reliance and aid retention
- Risks: limited neighborhood amenities, modest school ratings, and mixed but improving safety