| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 33rd | Fair |
| Amenities | 12th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 90 N 3rd St, Shelby, OH, 44875, US |
| Region / Metro | Shelby |
| Year of Construction | 1990 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
90 N 3rd St Shelby Multifamily with Durable Demand
Neighborhood occupancy is above the Mansfield metro median and sits in the top quartile nationally, according to WDSuite s CRE market data, supporting a steady renter base for this 1990-vintage asset.
Shelby is a rural neighborhood within the Mansfield, OH metro with occupancy levels that are above the metro median (rank 22 of 54) and in the top quartile nationally (79th percentile). For investors, that points to healthier leasing stability relative to many comparable small-market areas, per commercial real estate analysis from WDSuite.
Renter-occupied housing represents a meaningful share of the local unit mix (rank 17 of 54; 72nd percentile nationally), indicating a competitive renter concentration among Mansfield neighborhoods. Within a 3-mile radius, renter-occupied units account for roughly one-third of housing, which supports depth of the tenant base for a 40-unit property while still allowing room to capture demand through targeted operations and pricing.
The local amenity grid skews sparse consistent with the rural classification with limited food, grocery, and park density, though childcare coverage ranks stronger than many peers (73rd percentile nationally). Investors should underwrite convenience via on-site features and management responsiveness rather than neighborhood retail draw, with leasing positioned toward value and commute practicality.
Ownership costs in the area are relatively accessible compared with national norms, which can introduce competition from entry-level ownership. That dynamic typically moderates near-term pricing power but can also aid retention when combined with modest rent-to-income levels (high national percentile for lower rent burden), supporting stable occupancy through value-oriented positioning.
Neighborhood-level crime metrics were not available in WDSuite for this locale. Investors commonly benchmark safety using city and county trendlines, property-level incident histories, and observable conditions. Given the rural context, prudent measures lighting, access control, and coordination with local authorities can help sustain resident confidence and lease retention.
The broader commute shed includes regional industrial and corporate employment that can support workforce housing demand. Nearby representation includes the following employer.
- International Paper Company packaging and paper (38.7 miles)
Built in 1990, the property is materially newer than the neighborhood s older housing stock, which can provide a competitive edge versus pre-war inventory while still warranting targeted system updates and common-area refreshes. Neighborhood occupancy stands above the Mansfield metro median and in the top quartile nationally, supporting leasing stability for a 40-unit community with compact average unit sizes (~608 sf) that can appeal to value-focused renters.
Within a 3-mile radius, the renter pool is established and is expected to expand as households are projected to increase alongside higher median incomes, which can underpin demand and collections. According to CRE market data from WDSuite, the area s rent burden trends favorable nationally, reinforcing retention potential, while accessible ownership options suggest measured rent growth assumptions and attention to amenity and service differentiation.
- Above-metro, top-quartile occupancy supports stable cash flow potential
- 1990 vintage offers competitive positioning versus older local stock with targeted value-add
- 3-mile renter base and projected household growth bolster tenant demand and retention
- Favorable rent-to-income dynamics aid collections and leasing velocity
- Risks: limited neighborhood amenities and accessible ownership may temper pricing power