| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 8th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 W D St, Wellston, OH, 45692, US |
| Region / Metro | Wellston |
| Year of Construction | 1975 |
| Units | 34 |
| Transaction Date | 2002-11-27 |
| Transaction Price | $615,200 |
| Buyer | NEW WELLSTON II LTD |
| Seller | --- |
700 W D St, Wellston OH Multifamily Investment
Workforce-oriented demand and a defined renter base underpin this 34-unit, 1975-vintage asset in rural Jackson County, according to WDSuite’s CRE market data. Neighborhood occupancy trends are softer than national norms, so underwriting should prioritize leasing efficiency and tenant retention.
The property sits in a Rural neighborhood within Jackson, OH, rated C+ among 20 metro neighborhoods. Amenity access is limited locally (low national percentile for cafes, restaurants, parks), with grocery options present but not dense. This positioning supports value housing and workforce renters more than lifestyle-driven demand.
Neighborhood occupancy is below national averages, indicating some vacancy headwinds, while the share of renter-occupied housing (about one-third) suggests a meaningful tenant base for small to mid-size multifamily. Compared with the metro, this area is above the metro median for renter concentration (occupancy_rental_share ranks stronger among 20 neighborhoods), which can support consistent leasing when priced competitively.
The average neighborhood construction year skews older (1939), while the subject’s 1975 vintage is newer than much of the local stock. Investors should expect typical 1970s systems and finishes to benefit from targeted modernization, which can enhance competitive standing versus older properties nearby.
Demographic statistics are aggregated within a 3-mile radius: recent years show modest population softness but an increase in household counts, and projections indicate additional household growth over the next five years. A larger household base and slightly smaller household sizes point to an expanding renter pool that can support occupancy stability and steady leasing, based on CRE market data from WDSuite.
Home values in the neighborhood are relatively low for the nation, and rent-to-income levels are moderate. For investors, this context suggests rental housing remains a more accessible option for many households, supporting retention, though pricing power should be managed carefully given potential competition from ownership.
Safety signals are mixed when viewed locally versus nationally. Nationally, the neighborhood scores in the upper tiers for lower crime (top quartile compared with neighborhoods nationwide), while within the Jackson, OH metro it ranks closer to the higher-crime side on violent incidents (ranked 4 among 20 neighborhoods). Property-related offenses perform better within the metro (ranked 13 of 20). Recent data indicate year-over-year declines in both violent and property offenses, according to WDSuite’s CRE market data.
Nearby employers support a steady workforce renter base and commute convenience, with food manufacturing and metals among the key industries present.
- General Mills — food manufacturing (2.2 miles)
- Ak Steel — metals and steel operations (44.1 miles)
This 34-unit, 1975-vintage property offers durable workforce housing in a rural submarket where renter-occupied housing represents a meaningful share of units. The asset is newer than much of the neighborhood’s housing stock, creating an angle for selective renovations to improve competitiveness against older properties. While neighborhood occupancy trends run below national norms, rent-to-income levels are moderate, supporting tenant retention with disciplined lease management. According to CRE market data from WDSuite, local demographic projections within a 3-mile radius point to household growth, which can expand the renter pool and support stabilization.
Key considerations for investors include underwriting conservative lease-up and retention assumptions, given softer neighborhood occupancy, while leveraging value-add potential from 1970s-era systems and interiors. Proximity to essential employers underpins workforce demand, but pricing should acknowledge competition from relatively accessible homeownership options in the area.
- Workforce renter base with moderate rent-to-income levels supports retention
- 1975 vintage offers targeted value-add potential versus older neighborhood stock
- 3-mile projections indicate household growth, expanding the renter pool
- Proximity to essential employers supports leasing stability
- Risk: neighborhood occupancy below national norms—underwrite leasing and pricing conservatively