| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 69th | Good |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 265 E Main St, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 1979 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
265 E Main St, Kent OH Multifamily Investment
Neighborhood multifamily occupancy is near 89%, indicating stable but competitively leased housing stock, according to WDSuite’s CRE market data. With a renter base supported by a university-driven workforce and accessible rents, the asset can target steady demand while pricing remains disciplined.
Located in Kent’s inner-suburban fabric of the Akron, OH metro, 265 E Main St sits in a neighborhood rated B- that is competitive among local peers. The property's 1979 vintage is newer than the area’s average construction year (1964), positioning it favorably versus older stock while still offering potential to modernize systems and finishes for value-add returns.
Daily needs are serviceable: grocery access performs above many U.S. neighborhoods, while on-block dining, cafes, parks, and pharmacies are limited within the immediate neighborhood footprint. For investors, this mix supports essential convenience but suggests residents may rely on nearby corridors for restaurants and services, which can influence leasing narratives and amenity programming on site.
Within a 3-mile radius, demographics skew younger with a substantial 18–34 cohort and steady student/early-career presence. Over the last five years, population contracted modestly while household counts ticked up, and forecasts point to additional household growth through 2028, together implying a larger tenant base even as household size normalizes. This supports occupancy stability and broadens the renter pool over the medium term.
Tenure dynamics show a meaningful renter concentration (roughly one-third of neighborhood housing units renter-occupied), which deepens the tenant base for multifamily. Median contract rents sit in the sub-$800 range and the rent-to-income ratio trends near 10%, reinforcing affordability headroom that can aid retention and disciplined rent management. Home values in the neighborhood are elevated for the region but not extreme, suggesting ownership alternatives may compete at the margin; however, accessible rents should continue to sustain rental demand and lease stability.
School ratings average in the upper half nationally, which can enhance marketing to graduate students, staff, and renters seeking educational access. Neighborhood occupancy is about 88.6% and has softened from prior years; operators should plan for focused leasing and renewals, yet fundamentals remain serviceable compared with broader national CRE cycles.
Safety metrics indicate property crime levels are higher than the national median, while violent crime measures sit below the national midpoint but not in top quartile safety. Year over year, both property and violent offense rates have edged down, suggesting incremental improvement rather than a structural shift.
In the context of Akron, neighborhood safety is mixed relative to other metro neighborhoods. For investors, this argues for pragmatic security measures (lighting, access controls, resident engagement) and underwriting that acknowledges moderate risk while recognizing recent downward trends.
Proximity to major employers anchors renter demand, particularly for workforce and early-career tenants. Nearby employment nodes include manufacturing, utilities, logistics, and insurance offices that support commute convenience and retention.
- Goodyear Tire & Rubber — manufacturing HQ offices (8.96 miles) — HQ
- FirstEnergy — utilities HQ offices (9.62 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (15.05 miles)
- Home Depot Distribution Center — distribution (16.66 miles)
- Erie Insurance Group — insurance (21.55 miles)
This 48-unit, 1979-vintage asset offers a relative age advantage versus the neighborhood’s older housing stock, creating an opportunity to compete on livability while pursuing targeted value-add upgrades to interiors and building systems. Neighborhood occupancy is about 88.6%, with a renter-occupied presence that supports demand depth; accessible rents and a low rent-to-income profile suggest room for disciplined pricing while maintaining retention, based on CRE market data from WDSuite.
Within a 3-mile radius, households have grown modestly and are projected to expand further by 2028, pointing to a larger tenant base and stable leasing runway. Local amenities cover essentials, and proximity to major employers across manufacturing, utilities, logistics, and insurance underpins steady workforce housing demand. Key underwriting considerations include modest safety headwinds and limited immediate dining/park amenities, alongside the need to plan for ongoing modernization typical of late-1970s construction.
- Newer-than-area stock (1979) with value-add modernization upside
- Neighborhood occupancy near 89% supports leasing stability with focused management
- Renter demand supported by workforce nodes (manufacturing, utilities, logistics, insurance)
- Affordability headroom (low rent-to-income) aids retention and pricing discipline
- Risks: mixed safety metrics and limited immediate amenities require proactive operations