| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Fair |
| Demographics | 36th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20871 State Route 93, Wellston, OH, 45692, US |
| Region / Metro | Wellston |
| Year of Construction | 1993 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
20871 State Route 93, Wellston Multifamily Investment
Neighborhood occupancy is strong and has trended higher, supporting steady rent rolls in this rural Jackson County location, according to WDSuite’s CRE market data. The area’s accessible rents provide a broad tenant pool, though investors should plan for disciplined lease management given limited local amenities.
Set in a rural pocket of Wellston, the property benefits from a quiet setting and small-town connectivity across Jackson County. Retail, parks, and services are limited within the immediate neighborhood, so resident convenience hinges on auto access rather than walkability. For multifamily operators, that typically translates to longer average tenancy when paired with stable employment commutes, but fewer lifestyle-driven premiums.
Neighborhood occupancy stands high and has improved over the past five years, placing the area above the metro median and competitive among Jackson neighborhoods. This is a neighborhood-level indicator, not specific to the property, and it points to durable renter demand and manageable vacancy exposure even in softer leasing seasons.
The existing housing stock in the neighborhood skews older on average, while this asset’s 1993 vintage is newer than much of the surrounding inventory. That positioning can help leasing and retention versus older comparables, though investors should still underwrite routine system updates and modernization as the asset approaches mid-life.
Tenure patterns suggest a modest renter-occupied share at the neighborhood level, indicating a smaller but steady renter base. Within a 3-mile radius, demographics show smaller average household sizes and, looking ahead, forecasts point to growth in households by 2028. That combination can expand the local renter pool and support occupancy stability, though the rural context may cap premium amenity-driven rent growth. Based on CRE market data from WDSuite, median contract rents remain on the low side relative to many metros, which can aid lease retention but may limit rapid pricing gains.
Safety indicators compare favorably at the national level, with recent estimates placing the neighborhood in the top quartile nationwide for lower violent and property incidents. Year-over-year trend data also shows meaningful declines in estimated offense rates, which supports leasing stability and resident retention.
Within the Jackson, OH metro (20 neighborhoods), the neighborhood’s crime ranking suggests it experiences relatively more incidents than several peers locally, even while national comparisons are favorable. Investors should weigh this mixed signal by emphasizing on-site lighting, access controls, and resident screening to maintain performance in line with national comparables.
Nearby employers provide a tangible workforce housing base that supports day-to-day leasing and renewals, led by food manufacturing and metals. Proximity helps shorten commutes and can enhance retention for shift-based employees.
- General Mills — food manufacturing (3.9 miles)
- Ak Steel — metals and materials (42.0 miles)
This 1993-vintage, 31-unit asset in Wellston is positioned as workforce housing in a rural submarket where neighborhood occupancy is high and trending upward. Relative to the neighborhood’s older housing base, the property’s newer vintage can be a leasing advantage, while still requiring prudent capital planning for aging systems. According to CRE market data from WDSuite, the neighborhood exhibits accessible rent levels and a low rent-to-income profile, supporting retention and steady collections rather than outsized near-term rent growth.
Within a 3-mile radius, forecasts indicate an increase in households and smaller average household sizes by 2028, suggesting a larger tenant base and ongoing demand for smaller formats. Limited local amenities and a low-cost ownership landscape argue for disciplined rent management and amenity-light operating strategies focused on reliability, safety, and service.
- High neighborhood occupancy supports stable leasing and mitigates downtime risk.
- 1993 construction is competitive versus older local stock, with targeted modernization upside.
- Accessible rents and low rent-to-income ratios favor retention and consistent collections.
- 3-mile forecasts show more households and smaller sizes, expanding the renter pool and supporting occupancy.
- Risks: rural amenity depth, competition from low-cost ownership, and mixed local-vs-national safety signals.