Unlocking Investment Potential: A Guide to Rental Properties in Delaware County, OH

Introduction

Investing in rental properties can be a lucrative venture if approached with careful planning and thorough research. A good rental property typically offers a combination of strong location, high tenant demand, and potential for value appreciation. The location is crucial as it influences the rental yield, occupancy rates, and long-term property value. Delaware County, OH, presents a unique opportunity for real estate investors due to its growing economy, quality of life, and strategic location near Columbus, OH.

Best Neighborhoods and Areas in Delaware County, OH

1. Powell

Grades:

• Convenience: A
• Tourist Attractions: B
• Things to Do: B+
• Avg Home Prices: C+
• Return on Investment: B+
• Proximity to Work-Related Travel: A
• X-Factor: A

Convenience: Powell offers excellent convenience with numerous amenities including shopping centers, parks, and highly-rated schools. Its proximity to Columbus makes it a desirable location for commuters.

Tourist Attractions: While not a major tourist hub, Powell has charming local attractions such as the Columbus Zoo and Aquarium nearby, which can be appealing to families.

Things to Do: Residents can enjoy a variety of activities including visits to local parks, dining at a range of restaurants, and participating in community events.

Avg Home Prices: Home prices in Powell are on the higher side compared to other areas in Delaware County, which may impact initial investment costs but also reflects the high demand and quality of the area.

Return on Investment: The higher home prices are balanced by strong rental demand and stable property appreciation, making Powell a solid investment choice.

Proximity to Work-Related Travel: Powell is conveniently located near major highways and business centers, providing easy access for work-related travel to Columbus and surrounding areas.

X-Factor: Powell's unique charm lies in its blend of suburban tranquility with easy access to urban amenities. The community-focused environment and high-quality schools make it particularly appealing to families.

2. Lewis Center

Grades:

• Convenience: A-
• Tourist Attractions: B
• Things to Do: B+
• Avg Home Prices: B
• Return on Investment: A-
• Proximity to Work-Related Travel: A
• X-Factor: B+

Convenience: Lewis Center offers a range of conveniences with ample shopping, dining, and recreational facilities. The area is well-served by public transportation and major roadways.

Tourist Attractions: Though not a primary tourist destination, Lewis Center benefits from nearby attractions such as Alum Creek State Park and the Polaris Fashion Place.

Things to Do: Residents enjoy outdoor activities at Alum Creek State Park, various sports complexes, and local events that cater to a diverse population.

Avg Home Prices: Home prices in Lewis Center are moderate, providing a good balance between affordability and investment potential.

Return on Investment: With moderate home prices and strong rental demand, Lewis Center presents a favorable return on investment. The area’s steady growth also promises potential for property appreciation.

Proximity to Work-Related Travel: Lewis Center’s strategic location near major highways makes it convenient for commuting to Columbus and other business hubs.

X-Factor: The presence of Alum Creek State Park and a robust community atmosphere give Lewis Center a unique appeal, making it a desirable place for both families and young professionals.

3. Delaware City

Grades:

• Convenience: B+
• Tourist Attractions: B+
• Things to Do: B+
• Avg Home Prices: B
• Return on Investment: A-
• Proximity to Work-Related Travel: B+
• X-Factor: A

Convenience: Delaware City offers a mix of urban and suburban conveniences with a range of shops, restaurants, and public services. It’s a well-rounded area for families and individuals alike.

Tourist Attractions: The city has several attractions including the Delaware County Fair, Perkins Observatory, and historical sites which draw visitors and enrich the local culture.

Things to Do: Delaware City boasts a variety of recreational activities from parks and trails to cultural events and local festivals.

Avg Home Prices: Home prices in Delaware City are relatively affordable, making it an attractive option for new investors looking to enter the market.

Return on Investment: The affordable home prices combined with growing rental demand make Delaware City a promising area for investment with good potential returns.

Proximity to Work-Related Travel: While not as close to Columbus as Powell or Lewis Center, Delaware City still offers reasonable access to major roads and transportation options.

X-Factor: Delaware City’s unique charm lies in its historic downtown, vibrant community events, and a small-town feel with the amenities of a larger city.

4. Sunbury

Grades:

• Convenience: B
• Tourist Attractions: B-
• Things to Do: B
• Avg Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: B
• X-Factor: B

Convenience: Sunbury provides a quieter, more rural feel while still offering necessary conveniences such as shopping and dining options within a short drive.

Tourist Attractions: Although it lacks major tourist attractions, Sunbury benefits from its proximity to nature reserves and parks, making it ideal for outdoor enthusiasts.

Things to Do: Activities in Sunbury include exploring local parks, participating in community events, and enjoying small-town festivals.

Avg Home Prices: Home prices in Sunbury are generally lower than in more urban areas, which can be advantageous for investors looking for lower entry costs.

Return on Investment: The lower home prices and steady demand for rental properties offer a good return on investment potential for Sunbury.

Proximity to Work-Related Travel: Sunbury’s location is somewhat more rural, which might mean longer travel times for work-related commutes compared to other areas in Delaware County.

X-Factor: Sunbury’s x-factor is its peaceful rural atmosphere combined with a strong sense of community. It’s a perfect spot for those seeking a quieter lifestyle while still being within reach of urban amenities.

Conclusion

Delaware County, OH, offers a variety of neighborhoods each with unique strengths and investment potential. From the suburban appeal of Powell and Lewis Center to the historic charm of Delaware City and the rural tranquility of Sunbury, investors can find opportunities that align with their financial goals and tenant demands. Understanding the nuances of each area, including convenience, attractions, activities, home prices, ROI, work-related travel proximity, and the unique x-factor, is key to unlocking the investment potential in Delaware County’s rental property market.