| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 66th | Good |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Rock Creek Dr, Delaware, OH, 43015, US |
| Region / Metro | Delaware |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 1997-05-15 |
| Transaction Price | $2,475,000 |
| Buyer | DELCO PARTNERS LTD |
| Seller | BUDGET LUXURY APARTMENTS |
2 Rock Creek Dr, Delaware OH Multifamily Investment
20-unit asset positioned for steady renter demand in a suburban Columbus submarket; neighborhood occupancy reflects area conditions rather than the property, and, according to WDSuite’s CRE market data, local fundamentals point to balanced affordability and income depth that can support retention.
Located in a suburban pocket of the Columbus, OH metro, the neighborhood is competitive among 580 metro neighborhoods (ranked 230), signaling solid but measured fundamentals for multifamily. Neighborhood occupancy trends sit above the national median, supporting stability, while area rents have grown in line with broader U.S. patterns, per WDSuite’s CRE market data.
Livability skews residential with limited immediate café, grocery, and restaurant density, but park access tracks above national norms. Average school ratings sit above the national median, a consideration for family renters seeking stability and longer tenures. The area’s household incomes score in a high national percentile, which supports rent collections and renewal potential.
Within a 3-mile radius, demographics indicate recent population growth with further expansion projected, alongside an increase in households. That points to a larger tenant base over the next several years and helps underpin occupancy resilience. Renter-occupied housing within this 3-mile view represents a meaningful share of units, providing depth for leasing while keeping exposure to turnover manageable.
Home values in the neighborhood are moderate relative to higher-cost metros, and the value-to-income profile sits below national averages. For investors, that can introduce some competition from ownership alternatives; however, rent-to-income levels are moderate, which can aid pricing power without materially elevating affordability pressure.
Relative to the Columbus metro, the neighborhood’s crime profile compares favorably (crime rank 70 out of 580), and nationally it sits in a stronger-than-average percentile. Property-related offenses are in a high national safety percentile and have improved year over year. At the same time, recent data show an uptick in violent incidents on a year-over-year basis, indicating a mixed near-term trend to monitor rather than a definitive shift.
Taken together, the area reads as above the metro average for safety with improving property-crime trends, but investors should underwrite with prudent assumptions and continue tracking updates as new data are released.
The location draws on a diversified employment base anchored by healthcare, industrial, and corporate services, supporting commuter convenience and a steady renter pipeline from Cardinal Health, Parker-Hannifin, L Brands, and Nationwide.
- Cardinal Health — healthcare distribution (13.3 miles) — HQ
- Parker-Hannifin Corporation — industrial manufacturing (13.3 miles)
- Fuse by Cardinal Health — healthcare technology/R&D (14.0 miles)
- L Brands — retail corporate offices (20.2 miles) — HQ
- Nationwide — insurance & financial services (23.5 miles) — HQ
Built in 1985, the property is older than much of the surrounding stock, creating a clear value-add path through targeted renovations and systems upgrades. Neighborhood occupancy is above the national median and incomes are comparatively strong, which supports rent collections and renewal probability. Within a 3-mile radius, population and household counts are rising with further growth projected, pointing to renter pool expansion and healthy leasing velocity over the medium term. According to CRE market data from WDSuite, rent-to-income levels remain moderate, helping balance pricing power with retention.
Investors should account for suburban amenity dispersion and potential competition from ownership given the area’s accessible value-to-income dynamics. Even so, a deep employment base across nearby healthcare and corporate services, plus room to reposition 1980s vintage units, supports a durable, income-focused thesis with measured upside.
- 1985 vintage offers value-add and modernization potential versus newer neighborhood stock
- Neighborhood occupancy above national median supports income stability
- 3-mile population and household growth expand the tenant base and support leasing
- Strong regional employers underpin demand and retention for workforce and professional renters
- Risks: suburban amenity dispersion and competition from ownership options may temper rent growth