| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 46th | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 321 Pontious Ln, Circleville, OH, 43113, US |
| Region / Metro | Circleville |
| Year of Construction | 1989 |
| Units | 40 |
| Transaction Date | 2008-01-14 |
| Transaction Price | $3,437,100 |
| Buyer | OHIO II INVESTORS LLC |
| Seller | OHIO II ACQUISITIONS LLC |
321 Pontious Ln Circleville Multifamily Investment
Neighborhood occupancy is steady and renter demand is meaningful, according to WDSuite’s commercial real estate analysis, supporting a practical income thesis for a 40‑unit asset in Circleville. The area’s renter-occupied share is elevated for the Columbus metro, pointing to a deep tenant base and potential leasing stability.
Situated in Circleville within the Columbus, OH metro, the neighborhood carries a C+ rating and functions as an Inner Suburb with a renter-occupied share that ranks in the top quartile among 580 metro neighborhoods. For investors, that elevated renter concentration translates into a broader tenant pool and supports demand depth for multifamily units.
Occupancy in the neighborhood is comparatively healthy and above national norms, with stability improving over the past five years based on CRE market data from WDSuite. Rent levels trend below many metro peers, and the local rent-to-income profile suggests manageable affordability pressures that can aid retention while leaving room for disciplined rent management.
Livability is mixed: restaurants are reasonably accessible relative to many suburbs, pharmacies score well versus national peers, but cafes, parks, childcare, and grocery options are limited in close proximity. Average school ratings trail metro leaders; for workforce-oriented assets, this typically shifts the renter profile toward value- and commute-focused households rather than school-driven demand.
Construction in the area skews older than the subject property. With a 1989 vintage, the asset is newer than much of the local housing stock (average 1960s), which can support competitive positioning versus older comparables; investors should still plan for system updates and modernization typical of late-1980s buildings.
Demographic statistics within a 3‑mile radius indicate recent population growth with a notable increase in households and a gradual reduction in average household size. Forward-looking projections point to additional household growth, which generally expands the renter pool and can support occupancy stability for well-managed assets.
Home values in the neighborhood sit below higher-cost Columbus submarkets, which can create some competition from entry-level ownership. Even so, the combination of steady occupancy, balanced rent-to-income dynamics, and a sizable renter base continues to underpin multifamily demand and leasing continuity.
Safety indicators are mixed and should be underwritten with care. Relative to 580 Columbus metro neighborhoods, overall crime sits in a range that is competitive among Columbus neighborhoods, though national comparisons place the area below the mid-point for safety. Investors should treat property crime as a monitoring item, as local property offense metrics track weaker than national norms.
On a positive note, recent trends show improvement in violent offense rates, with declines over the past year outpacing many areas nationwide. We recommend incorporating current local comps, security provisions, and insurance assumptions into underwriting to reflect these dynamics conservatively.
- Avnet Services — corporate offices (15.9 miles)
- The Xerox Company — corporate offices (16.1 miles)
- Avnet Services - LifeCycle Solutions — corporate offices (17.2 miles)
- American Electric Power — corporate offices (25.1 miles) — HQ
- Nationwide — corporate offices (25.3 miles) — HQ
The employment base includes nearby corporate offices and major headquarters that broaden the commuter tenant pool and support leasing, notably Avnet Services, Xerox, Avnet LifeCycle Solutions, American Electric Power, and Nationwide.
321 Pontious Ln offers a practical workforce housing thesis in a renter-heavy Inner Suburb of the Columbus metro. Neighborhood occupancy is solid and has improved over the last five years, while rents remain relatively accessible, supporting retention and steady leasing. The 1989 vintage positions the asset newer than much of the surrounding housing stock, suggesting competitive appeal versus older properties while still warranting typical late‑1980s system upgrades and selective renovations.
Demographic statistics aggregated within a 3‑mile radius show recent population growth and an increase in households, with projections indicating further household expansion that can enlarge the renter pool. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share sits above most Columbus peers, reinforcing demand depth despite modest amenity density and mixed school performance.
- Steady neighborhood occupancy and improving five-year trend support income durability
- Elevated renter-occupied share indicates a deeper tenant base for a 40‑unit asset
- 1989 vintage is newer than nearby stock, offering competitive positioning with targeted updates
- Household growth within 3 miles points to renter pool expansion and leasing support
- Risks: limited neighborhood amenities, below-metro school ratings, and property-crime headwinds warrant conservative underwriting