| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 68th | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1565 London Ave, Marysville, OH, 43040, US |
| Region / Metro | Marysville |
| Year of Construction | 2010 |
| Units | 76 |
| Transaction Date | 2013-07-01 |
| Transaction Price | $15,300,000 |
| Buyer | NHI-REIT of Ohio, LLC |
| Seller | Halcyon Real Estate Co, |
1565 London Ave Marysville OH Multifamily Opportunity
Neighborhood occupancy remains high and renter demand appears durable for Marysville’s inner-suburb location, according to WDSuite’s CRE market data. The area’s tenant base and income profile support stable operations relative to the Columbus metro.
Marysville’s Inner Suburb setting offers fundamentals that matter to multifamily investors: the neighborhood posts a high occupancy level (measured for the neighborhood, not the property), with NOI per unit performance ranking in the upper tier nationally. Median contract rents sit near the national midpoint while rent-to-income trends around 0.13, suggesting manageable affordability pressure that can support retention and measured pricing power, based on CRE market data from WDSuite.
Within a 3-mile radius, demographics point to a larger tenant base over time: population grew about 8% in the last five years and households expanded by roughly 21%, with families up more than 23%. Forward-looking estimates indicate continued growth in households, which reinforces depth for leasing and supports occupancy stability over a longer hold period.
Amenities are mixed. Parks and childcare access test above national averages, and grocery availability trends near the national median. Restaurant and cafe density is limited, and pharmacy presence is sparse, which may modestly affect lifestyle convenience. School ratings are not reported here and should be underwritten separately.
Housing stock skews relatively new for the Columbus metro, and the renter-occupied share is about half of occupied units at the neighborhood level. That renter concentration indicates a meaningful pool of prospective tenants and supports ongoing demand for professionally managed multifamily communities.
Neighborhood safety indicators compare favorably in context. The area sits in the top quartile nationally for overall safety, and its crime profile is competitive among Columbus neighborhoods. Year-over-year, both property and violent offense estimates declined sharply, a positive directional trend for asset operations and resident retention.
Interpreting metro benchmarks, the neighborhood’s crime rank places it in the top quartile among 580 metro neighborhoods. Nationally, safety percentiles are above average, indicating comparatively lower incident rates versus many U.S. neighborhoods. Investors should still confirm block-level patterns during due diligence, but current signals point to supportive conditions for multifamily operations.
Proximity to diversified employers supports a stable renter pool, with manufacturers and large corporate offices within commutable distance. The employers below anchor regional jobs and can underpin workforce housing demand and lease retention.
- Parker-Hannifin Corporation — manufacturing & engineering (2.9 miles)
- Cardinal Health — healthcare services & distribution (15.3 miles) — HQ
- Fuse by Cardinal Health — healthcare technology & innovation (16.4 miles)
- Staples Fulfillment Center — logistics & distribution (21.7 miles)
- Big Lots — retail corporate offices (22.6 miles) — HQ
Built in 2010, the 76-unit property is newer than the neighborhood’s average vintage, positioning it competitively versus older stock while leaving room for targeted modernization as systems age. At the neighborhood level, occupancy is high and NOI per unit performance trends in the top decile nationally, which supports an underwriting case for durable cash flow. According to WDSuite’s commercial real estate analysis, median rents sit near the national midpoint and the rent-to-income ratio around 0.13 indicates manageable affordability pressure that can aid retention.
Within a 3-mile radius, population and households have grown meaningfully over the last five years, with additional household growth forecast, pointing to a larger tenant base and support for occupancy stability. Home values are elevated for the region, which can keep multifamily competitive versus ownership and help sustain renter reliance. Investors should balance these strengths against the area’s lighter restaurant/cafe footprint and monitor any shift toward higher ownership share that could modestly narrow the renter pool over time.
- 2010 construction offers competitive positioning with optional value-add through selective upgrades
- High neighborhood occupancy and strong NOI per unit support cash flow durability
- 3-mile population and household growth expand the renter pool and leasing depth
- Balanced rent levels and rent-to-income trends support retention and measured pricing
- Risks: limited dining/pharmacy amenities and potential drift toward higher ownership share could temper demand growth