| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 25th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1101 Summit Gardens Blvd, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 1983 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1101 Summit Gardens Blvd Kent Multifamily Investment
Renter demand is supported by a sizable local renter base and proximity to Akron employment nodes, while the 1983 vintage suggests manageable value-add potential, according to WDSuite’s CRE market data. Neighborhood occupancy trends trail metro norms, so underwriting should prioritize leasing execution and rent-to-income sensitivities.
The property sits in an Inner Suburb of Kent within the Akron, OH metro, where neighborhood amenities are above the metro median overall. Dining options are a relative strength, with restaurant density ranking in the top quartile among 180 metro neighborhoods, while daily needs are reasonably served by groceries and childcare. Parks, pharmacies, and cafes are thinner locally, which modestly limits lifestyle depth compared with amenity-rich nodes.
Median asking rents in the neighborhood track close to the metro middle, helping sustain demand from cost-conscious renters. The neighborhood’s renter-occupied share is elevated, indicating a deeper tenant base for multifamily; however, neighborhood occupancy levels are below typical Akron and national readings, which places more weight on hands-on leasing and renewals to stabilize performance.
Vintage context: the average construction year nearby is 1981, and this asset’s 1983 delivery is slightly newer than the local stock. That positioning can be competitive against older walk-up inventory, though investors should still expect periodic modernization of interiors and systems to support retention and rent trade-outs.
Within a 3-mile radius, demographics indicate a large 18–34 cohort and household counts that have grown in recent years, with forecasts calling for further increases in both population and households by 2028. This trajectory points to a larger tenant base over time, which can support occupancy stability and leasing velocity if affordability is actively managed.
Ownership context and affordability: neighborhood home values sit near the metro middle, but ownership costs relative to incomes are high by national standards. That environment tends to reinforce renter reliance on multifamily housing and can support pricing power; at the same time, elevated rent-to-income ratios signal affordability pressure, making renewal management and pricing discipline important.
Safety conditions in this Akron-area neighborhood are mixed. Compared with the metro, the neighborhood s crime rank sits on the higher-crime side (ranked 45 out of 180 metro neighborhoods, where lower ranks indicate more crime), while nationally the area trends closer to the middle of the pack. Property offenses run elevated relative to national norms, but both violent and property offense estimates have declined over the past year, indicating improving momentum.
For investors, these dynamics argue for standard security measures, active community management, and underwriting that assumes ongoing vigilance. Continued year-over-year easing, if sustained, would support resident retention and marketing efforts without relying on block-level assumptions.
Nearby employment anchors in Akron and surrounding corridors provide commute-friendly jobs that support renter demand and lease retention. Key nodes include Goodyear, FirstEnergy, a Norfolk Southern facility, a Home Depot distribution center, and Erie Insurance offices.
- Goodyear Tire & Rubber manufacturing HQ (9.3 miles) HQ
- FirstEnergy utilities HQ (10.5 miles) HQ
- Norfolk Southern Motor Yard rail operations (16.9 miles)
- Home Depot Distribution Center logistics (18.3 miles)
- Erie Insurance Group insurance offices (20.7 miles)
1101 Summit Gardens Blvd is an 80-unit, 1983-vintage asset positioned slightly newer than the neighborhood s average stock. The submarket offers an established renter base and solid access to Akron employment, while neighborhood rents sit near the metro middle. Based on CRE market data from WDSuite, neighborhood occupancy trends are softer than typical, suggesting value can be created through focused leasing execution, targeted renovations, and resident retention strategies.
Within a 3-mile radius, household counts have increased and are projected to rise further by 2028, implying a larger tenant pool over time. High ownership costs relative to incomes support continued renter reliance on multifamily housing; however, rent-to-income levels indicate affordability pressure, so returns will depend on disciplined pricing, expense control, and asset-specific improvements rather than outsized rent growth assumptions.
- Established renter base with commute access to major Akron employers
- 1983 vintage offers manageable value-add and modernization opportunities versus older local stock
- Neighborhood rents near metro middle support broad demand and leasing velocity
- Demand outlook supported by projected growth in nearby households (3-mile radius)
- Risks: below-metro occupancy trends and renter affordability pressure require disciplined pricing and active management