| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 66th | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 514 Allenby Dr, Marysville, OH, 43040, US |
| Region / Metro | Marysville |
| Year of Construction | 1996 |
| Units | 30 |
| Transaction Date | 1994-02-03 |
| Transaction Price | $225,000 |
| Buyer | ELMWOOD VILLAS HOLDINGS LLC |
| Seller | DOMINIUM ELMWOOD VILLAS |
514 Allenby Dr Marysville 30-Unit Multifamily
Stabilized suburban dynamics and very high neighborhood occupancy signal durable cash flow potential, according to WDSuite s CRE market data. Positioned in Marysville within the Columbus metro, the asset s older vintage offers value-add levers against a renter base supported by strong household incomes.
Marysville s suburban setting delivers day-to-day convenience with grocery and childcare access performing around metro norms, while cafes and parks are limited in the immediate area. Average school ratings test in the top quartile nationally, providing a family-friendly backdrop that can support longer tenancy and leasing stability.
Neighborhood occupancy is exceptionally strong and competitive among Columbus neighborhoods, landing in the top quartile nationally. For investors, this points to resilient leasing and lower downtime risk when units turn.
The renter-occupied share of housing units is modest (about one-fifth), indicating a primarily owner-occupied area. That mix typically supports steady multifamily demand from residents who prefer professionally managed housing, though it also means the renter pool is not as deep as in core urban submarkets.
Within a 3-mile radius, WDSuite data show recent double-digit population and household growth with projections for continued expansion into the late 2020s. Rising incomes and a low rent-to-income profile reinforce retention and pricing power, while relatively accessible ownership options in the broader area suggest monitoring for competition from for-sale housing.
The property s 1996 construction predates much of the surrounding housing stock, which skews newer. That age gap can create practical value-add opportunities (unit finishes, common areas, and systems) to sharpen competitive positioning against 2010s-vintage product.
Safety indicators for the neighborhood compare favorably versus many U.S. areas, with WDSuite reporting upper-tier national safety percentiles. Recent data also point to meaningful year-over-year reductions in both property and violent offense rates, suggesting an improving local trend. As always, investors should review submarket and citywide patterns to contextualize asset-level risk management.
A diversified employer base within commuting distance supports renter demand and retention, led by advanced manufacturing and major corporate headquarters presence from healthcare, discount retail, and logistics.
- Parker-Hannifin Corporation manufacturing & engineering (2.4 miles)
- Cardinal Health healthcare supply chain (14.8 miles) HQ
- Fuse by Cardinal Health healthcare technology & innovation (15.9 miles)
- Big Lots discount retail corporate (23.1 miles) HQ
- Staples Fulfillment Center logistics & distribution (23.9 miles)
This 30-unit asset benefits from very high neighborhood occupancy and a renter base supported by strong household incomes and low rent-to-income ratios; according to CRE market data from WDSuite, these factors are consistent with above-average retention and limited downtime. The 1996 vintage, older than much of the nearby housing stock, positions the property for targeted value-add to compete with newer product while leveraging stable suburban demand.
Within a 3-mile radius, population and households have grown materially and are projected to continue expanding, signaling a larger tenant base over the next several years. While ownership remains relatively accessible in parts of the metro, which can create competition, the area s schools and employer access support ongoing multifamily relevance and occupancy stability.
- Strong neighborhood occupancy suggests stable leasing and limited downtime
- Income depth and low rent-to-income support tenant retention and pricing
- 1996 vintage offers clear value-add pathways to compete with newer stock
- Expanding 3-mile population and household counts point to a growing renter pool
- Risks: smaller renter pool in an owner-leaning area and potential competition from for-sale housing