| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 25th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1700 E Main St, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 1973 |
| Units | 57 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1700 E Main St Kent Value-Add Multifamily
Positioned near a solid renter base, this asset offers value-add potential with neighborhood conditions that support steady tenant demand, according to WDSuite’s CRE market data. Expect leasing to track local fundamentals rather than outperform them, with pricing power influenced by renter affordability and ownership costs.
Livability is anchored by everyday conveniences rather than destination amenities. Neighborhood data show restaurants are comparatively dense within the Akron metro while grocery access is reasonable; parks, pharmacies, and cafes are limited. For investors, this mix points to stable, workforce-oriented demand rather than lifestyle-led premiums.
The property’s 1973 vintage is older than the neighborhood’s average construction year. That typically implies capital planning needs (exteriors, systems, interiors) but also creates renovation and repositioning upside to compete against newer stock.
At the neighborhood level (not the property), occupancy trends are soft relative to Akron peers, indicating that lease-up may take longer and concessions could be part of the playbook in certain seasons. Counterbalancing that, the neighborhood’s renter concentration is above the metro median, signaling a deeper tenant pool and more consistent multifamily demand over time.
Within a 3-mile radius, demographics point to a large 18–34 cohort today and a projected increase in households by the next five-year window, supporting a larger tenant base and helping occupancy stability. Median incomes in the 3-mile area have been rising, and forecasts call for further gains, which can support rent growth management. Elevated home value-to-income ratios at the neighborhood level suggest a high-cost ownership context; that typically sustains reliance on rental housing and can aid retention for well-managed properties.
Safety indicators in this neighborhood sit around the middle of the national distribution, based on WDSuite’s data. Property crime compares weaker than national norms, while violent crime is closer to average; both categories have improved over the last year with double-digit declines, suggesting conditions are trending in a favorable direction rather than deteriorating.
For portfolio underwriting, this translates to prudent risk management rather than a hard stop: emphasize lighting, access control, and resident engagement to support retention, and benchmark operating assumptions to metro averages rather than best-in-class submarkets.
Nearby employment anchors span manufacturing, utilities, logistics, home improvement distribution, and insurance — a diversified base that supports workforce renter demand and commute convenience for residents of Kent.
- Goodyear Tire & Rubber — manufacturing HQ (10.0 miles) — HQ
- FirstEnergy — utilities HQ (10.88 miles) — HQ
- Norfolk Southern Motor Yard — logistics/rail (15.9 miles)
- Home Depot Distribution Center — home improvement distribution (17.2 miles)
- Erie Insurance Group — insurance (21.85 miles)
1700 E Main St offers a classic value-add profile: a 1973, 57-unit asset in a renter-heavy area where ownership costs relative to income remain elevated. Based on commercial real estate analysis from WDSuite, neighborhood occupancy is weaker than Akron’s stronger submarkets, but the deeper renter-occupied housing share and proximity to diversified employers underpin demand. Within a 3-mile radius, households and incomes are projected to grow, supporting a larger tenant base and improving rent roll durability over a multi-year hold.
Execution hinges on targeted renovations to improve competitive positioning and on disciplined lease management given affordability pressure. With measured upgrades and active operations, investors can aim to convert demographic and employment tailwinds into stabilized occupancy and steady cash flow without assuming outsized rent premiums.
- Older 1973 vintage supports value-add through unit and systems upgrades
- Above-median renter concentration signals depth of tenant demand
- Diversified nearby employers reinforce leasing stability and retention
- 3-mile household and income growth outlook supports occupancy over time
- Risks: softer neighborhood occupancy and renter affordability require conservative underwriting and active management