| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 18th | Poor |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15480 State Route 691, Nelsonville, OH, 45764, US |
| Region / Metro | Nelsonville |
| Year of Construction | 1993 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15480 State Route 691, Nelsonville OH — 44-Unit Multifamily Opportunity
Renter concentration sits in the top quartile among 31 Athens metro neighborhoods while rent-to-income remains low, supporting retention and steady leasing, according to WDSuite’s CRE market data.
The property is located in a suburban pocket of the Athens, OH metro with a C+ neighborhood rating and an occupancy level that sits slightly below the metro median, but with improvement over the past five years. Median contract rents in the neighborhood track on the lower end relative to metro and national benchmarks, which can aid absorption and price sensitivity management for workforce-oriented assets.
Renter-occupied housing accounts for a sizable share of neighborhood units and ranks in the top quartile among 31 Athens neighborhoods, indicating a deeper tenant base for multifamily demand. In a 3-mile radius, demographics show recent population softness but a projected increase in total households alongside smaller average household sizes, pointing to a larger renter pool for smaller-format units and support for occupancy stability.
Local amenities are thinner than urban cores—cafes, parks, and pharmacies rank toward the lower end of metro comparisons—yet basic services such as grocery access register competitively among Athens neighborhoods. The average school rating in the area trends below national norms; for investors, this tilts demand toward value-oriented renters rather than school-driven leasing, which should be reflected in marketing and tenant retention strategies.
Ownership costs are comparatively accessible versus national levels, which can create some competition from entry-level homebuying; however, a low rent-to-income profile suggests room to sustain leasing and manage renewals without outsized affordability pressure. Taken together, the location favors durable, price-conscious renter demand over premium amenity-driven positioning, based on commercial real estate analysis from WDSuite.
Neighborhood safety indicators compare favorably to many areas nationwide. WDSuite’s data place the area above the national average for safety, with violent-offense metrics approaching the top quartile nationally and property-offense measures trending better than average. Within the Athens metro, the neighborhood ranks in the back half of the 31-neighborhood set, so performance is stronger in national context than local.
Recent trend data show a meaningful one-year decline in estimated property offenses, an encouraging directional signal. As always, investors should corroborate conditions at the street level and underwrite to submarket variability rather than block-level assumptions.
Regional employment access is anchored by logistics and consumer-goods facilities within commuting reach, supporting workforce renter demand and lease retention for value-oriented units.
- General Mills — food manufacturing/distribution (29.1 miles)
- Autozone Distribution Center — logistics and parts distribution (41.5 miles)
Built in 1993, the asset is newer than much of the surrounding housing stock, offering competitive positioning versus older properties while leaving room for targeted modernization of systems and interiors. Neighborhood rents sit on the lower end, and rent-to-income levels are favorable, supporting tenant retention and steady occupancy even as ownership costs remain comparatively accessible in the wider market.
Renter concentration ranks in the top quartile among 31 Athens neighborhoods, pointing to depth in the tenant base. While the 3-mile population has softened historically, projections indicate growth in total households and smaller household sizes, which can expand the renter pool and support leasing. According to CRE market data from WDSuite, neighborhood safety trends have improved year over year, adding support for stabilization, though investors should account for modest amenity density and school ratings that trail national norms.
- 1993 vintage offers competitive positioning versus older local stock, with value-add modernization potential
- Low rent-to-income profile supports retention and leasing resilience at workforce price points
- Renter concentration in the top quartile among 31 Athens neighborhoods indicates a deeper tenant base
- Safety trends improving per WDSuite data, supportive of stabilization
- Risks: thinner amenity set and below-average school ratings may limit premium positioning and require careful marketing