| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 69th | Good |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1214 Anita Dr, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 1972 |
| Units | 31 |
| Transaction Date | 2017-12-06 |
| Transaction Price | $16,500,000 |
| Buyer | FRANKLIN CROSSING OH LP |
| Seller | SILVER MEADOWS LP |
1214 Anita Dr, Kent OH Multifamily Value-Add Potential
Positioned in an inner-suburban pocket of Kent with a meaningful share of renter-occupied housing, the property benefits from stable demand drivers and relatively low rent-to-income levels in the surrounding neighborhood, according to WDSuite’s CRE market data.
Kent’s inner-suburban setting delivers everyday convenience with modest retail density. Grocery access is competitive among Akron neighborhoods, while cafes, restaurants, parks, and pharmacies are comparatively sparse at the neighborhood level. For investors, this mix supports workforce-oriented demand with fewer lifestyle premiums, tilting underwriting toward value and retention over amenity-driven rent lifts.
Neighborhood schools post an average rating that is above many peers locally, placing the area competitive among Akron neighborhoods and near the top quartile nationally for school quality. This can support leasing to households seeking stability, even as broader amenity counts remain limited.
The local housing stock skews older, with the neighborhood’s average construction year in the 1960s. With a 1972 vintage, this property is somewhat newer than much of the nearby inventory, which can enhance competitiveness versus older stock; however, investors should still plan for systems modernization and selective renovations to meet current renter expectations.
Within a 3-mile radius, demographics show a slight population decline but households holding roughly steady and projected to rise as average household size trends lower. That shift implies a larger tenant base over time and supports occupancy stability for well-managed assets. Median home values and incomes in the neighborhood context indicate a high-cost ownership market relative to local rents, reinforcing reliance on multifamily rentals and supporting lease retention.
Safety conditions are mixed relative to regional and national benchmarks. The neighborhood performs above the metro median among 180 Akron neighborhoods, yet its national safety standing is below the midpoint, indicating investors should underwrite prudent security and lighting measures.
Recent trends are directionally favorable: both violent and property offense rates have edged down year over year, according to WDSuite’s CRE market data. While improvements help support leasing and retention, risk management remains important given the neighborhood’s below-median national percentile.
Proximity to established employers underpins renter demand, with daily commutes to manufacturing, utilities, logistics, and distribution nodes supporting workforce housing. Key employment anchors include Goodyear Tire & Rubber, FirstEnergy, Norfolk Southern Motor Yard, Home Depot Distribution Center, and Airgas Merchant Gases.
- Goodyear Tire & Rubber — manufacturing & corporate (8.4 miles) — HQ
- FirstEnergy — utilities & corporate (8.6 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics operations (13.9 miles)
- Home Depot Distribution Center — distribution & logistics (15.8 miles)
- Airgas Merchant Gases — industrial gases (21.1 miles)
This 31-unit, 1972-vintage asset offers a practical value-add path in an inner-suburban Kent location where renter demand is supported by a meaningful renter-occupied share and relatively low rent-to-income levels at the neighborhood scale. Based on CRE market data from WDSuite, household counts within a 3-mile radius are expected to increase even as average household size declines, pointing to a gradually expanding tenant base. The property’s slightly newer vintage versus much of the surrounding stock provides a competitive edge, with targeted renovations likely to drive leasing velocity rather than extensive repositioning.
Investors should account for modest amenity density and a safety profile that sits below national medians, balancing those risks against workforce access to major employers, competitive grocery access, and ownership costs that sustain reliance on multifamily rentals. Under disciplined operations, these fundamentals can support occupancy resilience and steady cash flow potential.
- 1972 vintage offers value-add via systems upgrades and unit refreshes
- Neighborhood-level rent-to-income remains favorable, aiding retention and pricing power
- 3-mile households projected to grow as sizes shrink, expanding the renter pool
- Employer access across manufacturing, utilities, and logistics supports workforce demand
- Risks: lower amenity density and below-median national safety metrics warrant prudent management