| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 69th | Good |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1161 Spruce Ct, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 1976 |
| Units | 76 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1161 Spruce Ct Kent Multifamily Investment
Neighborhood data point to stable renter demand supported by comparatively low rent-to-income levels and a meaningful renter-occupied housing base, according to WDSuite’s CRE market data. For investors, the draw is durable workforce appeal in an inner-suburban setting with room to outperform through targeted operations.
This Inner Suburb neighborhood in the Akron metro carries a B- neighborhood rating, reflecting balanced livability fundamentals for workforce-oriented multifamily. Grocery access is competitive among Akron neighborhoods (ranked 63 out of 180), while cafes, restaurants, and parks are limited locally—an operating consideration for positioning and amenity strategy. Average school ratings sit in the top quartile nationally, which can aid leasing narratives for larger units.
Construction in the area skews older (average 1964). With a 1976 vintage, this property is newer than much of the surrounding stock, supporting relative competitiveness versus older comparables; however, investors should still plan for aging systems and selective modernization to sustain rentability.
Within a 3-mile radius, household counts have held roughly steady recently and are projected to increase, even as overall population trends modestly down—indicating smaller household sizes and a potential renter pool expansion. A renter-occupied share around the high-30% range within this radius suggests a deep tenant base that can support occupancy stability, especially for practical unit mixes.
Homeownership costs are elevated relative to local rents, which can sustain reliance on multifamily and support lease retention. Median rents remain accessible in context, reducing affordability pressure and helping limit turnover risk for well-managed assets.
Safety indicators are mixed. Neighborhood crime levels benchmark below the national median for safety: property offenses track around the lower national percentiles, while violent offense measures are also below average compared to neighborhoods nationwide. Recent year-over-year trends show modest improvement across categories, which investors may view as a positive directional signal rather than a resolved risk.
In metro context, results are competitive among Akron neighborhoods in some categories and weaker in others. Operators should incorporate security-forward site management and resident engagement to support retention and reputation, particularly during repositioning.
Proximity to regional employers supports a steady renter pipeline, particularly for workforce housing with commute-friendly access. Notable employment nodes nearby include tire manufacturing, utilities, rail operations, and distribution.
- Goodyear Tire & Rubber — tire manufacturing HQ (8.5 miles) — HQ
- FirstEnergy — utilities HQ (8.8 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (13.9 miles)
- Home Depot Distribution Center — distribution (15.8 miles)
- Airgas Merchant Gases — industrial gases (21.2 miles)
The investment case centers on durable renter demand, relative affordability, and a vintage advantage versus older neighborhood stock. Based on CRE market data from WDSuite, neighborhood occupancy has been resilient with some softening over five years, while rent-to-income levels remain low enough to support retention and pricing power for well-maintained units. With a 1976 construction year, the asset should compete favorably against mid-century comparables, though investors should plan for targeted systems updates and selective interior upgrades to unlock value-add upside.
Within a 3-mile radius, household counts are expected to rise even as population growth is flat to modestly negative, pointing to smaller household sizes and a larger tenant base for multifamily. Local home values remain elevated relative to rents, reinforcing reliance on rental housing and supporting occupancy stability. Risks include limited immediate amenity density and safety metrics that sit below national medians, which can be mitigated through thoughtful operations, resident programming, and security posture.
- Workforce demand and low rent-to-income support steady occupancy and lease retention.
- 1976 vintage is newer than neighborhood average, enabling competitive positioning with targeted upgrades.
- Household growth within 3 miles expands the tenant base despite flat population trends.
- Elevated ownership costs versus rents reinforce multifamily demand and pricing flexibility.
- Risks: amenity-light location and below-median safety metrics call for proactive operations and security investments.