An analysis of one of the first build to rent communities in columbus ohio

[Robert Ellis]

This community is one of the first to be delivered in our market: 

Coastal Ridge Real Estate to Develop Build-to-Rent Community With 230 Homes in Central Ohiohttps://rebusinessonline.com/coastal-ridge-real-estate-to-develop-build-to-rent-community-with-230-homes-in-central-ohio/

Link to coastal ridge Floorplans: https://www.stillwelljerome.com/pricing 

Here is the rental rates they are asking currently and the first deliveries by coastal ridge at Jerome Village should be later this year in December or early next year: 

Floorplans and prices: 

The Haven - 1BR/1BA - 704 sq ft - $1597 lease price - $2.26 Lease price per sq ft 

The Abode - 2BR/2.5BA - 1244 sq ft - $2390 lease price - $1.92 lease price / sq ft

The Oasis - 2BR/2BA - 964 Sq ft - $1886 lease price - $1.95 lease price / sq ft

The Retreat - 3BR/2BA - 1279 sq ft - $2641 lease price - $2.06 lease price / sq ft

Just a note, they did pretty compact designs which is what I recommend. 

They also are in a premium location so I would use more conservative underwriting numbers for build to rent. Something like $1.90 which is below all of their current prices. I think this is a good one to track and follow. They also only had 4 floor plans across 200 units which simplifies construction.

If you have questions about build to rent in our community or have thoughts to share I'd love to create a good discussion going. There is a massive amount of interest in our market for build to rent.