| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 25th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 Hickory Mills Cir, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 1979 |
| Units | 108 |
| Transaction Date | 2023-05-18 |
| Transaction Price | $3,273,900 |
| Buyer | GOLD ZONE HORIZON LLC |
| Seller | GENESIS KENT III LLC |
300 Hickory Mills Cir — 108-Unit Multifamily Value-Add
Renter concentration in the surrounding neighborhood is high while homeownership remains relatively costly, suggesting a durable tenant base, according to WDSuite s CRE market data. Near-term operations may hinge on effective lease management, with longer-term demand supported by projected household growth within a 3-mile radius.
Located in an inner-suburb pocket of Kent within the Akron metro, the neighborhood carries a C+ rating and ranks 116 out of 180 metro neighborhoods, placing it below the metro median. These are neighborhood-level indicators and do not reflect the property s own performance, but they frame competitive positioning for workforce-oriented multifamily.
Livability is anchored by everyday conveniences rather than lifestyle retail. Restaurant density trends strong (top-quartile nationally), while groceries are comparatively accessible versus many areas (above the national median). Caf e9s and parks are sparse, and pharmacies are limited, so resident appeal skews toward practical access over leisure amenities.
Tenant depth is a relative strength: neighborhood data indicate a higher share of renter-occupied housing units (top decile in the metro by rank 30 of 180), which supports leasing velocity and retention visibility for multifamily operators. By contrast, neighborhood occupancy has been soft in recent years (rank 179 of 180 in the metro), a condition investors should evaluate at the asset level through marketing execution, unit mix, and management practices.
Home values in the neighborhood are elevated relative to local incomes (value-to-income near the top of national comparisons), reinforcing reliance on rental options and helping sustain demand for multifamily. Rent-to-income levels are on the higher side locally, which suggests potential affordability pressure a consideration for renewal strategies and rent setting rather than a demand headwind.
Within a 3-mile radius, households have increased despite flat-to-moderating population trends, and forecasts point to meaningful growth in households through 2028. This mix of stabilizing demographics and an expanding renter pool supports forward leasing prospects and occupancy stability for well-managed assets, based on commercial real estate analysis from WDSuite.
Vintage also matters competitively: with an average neighborhood construction year around 1981, a 1979 asset can benefit from targeted capital planning to modernize systems and finishes. That creates practical value-add and repositioning levers to improve rent roll durability relative to older stock while remaining cost-conscious versus new construction.
Neighborhood safety metrics are mixed relative to the Akron metro and national context. Overall crime ranks 45 out of 180 metro neighborhoods, which is competitive among Akron neighborhoods but roughly mid-pack nationally. These are neighborhood indicators and do not describe conditions at the property itself.
Recent trend data show improvement: both violent and property offense rates have declined year over year (double-digit decreases), with improvement metrics placing the neighborhood above the national median for rate reductions. While the area does not rank among the safest nationally today, the directional trend offers a constructive backdrop for operators monitoring resident experience and retention.
Proximity to established employers supports a steady renter pipeline and commute convenience, particularly for workers tied to manufacturing, utilities, logistics, and insurance. Nearby anchors include Goodyear Tire & Rubber, FirstEnergy, Norfolk Southern facilities, Home Depot distribution, and Erie Insurance.
- Goodyear Tire & Rubber manufacturing HQ (9.4 miles) HQ
- FirstEnergy utilities HQ (10.5 miles) HQ
- Norfolk Southern Motor Yard rail logistics (16.8 miles)
- Home Depot Distribution Center distribution & supply chain (18.2 miles)
- Erie Insurance Group insurance offices (20.9 miles)
300 Hickory Mills Cir offers 108 units with an attainable value-add profile in a renter-heavy neighborhood where ownership remains relatively high-cost against local incomes. According to CRE market data from WDSuite, the area s renter concentration is elevated within the Akron metro, while neighborhood occupancy has lagged placing a premium on execution around leasing, renewals, and unit positioning. Within a 3-mile radius, households are expanding and are projected to grow further, indicating a larger tenant base that can support occupancy stability for well-managed assets.
Built in 1979, the property is slightly older than the neighborhood average vintage, pointing to practical renovation and systems upgrades as levers for NOI growth and competitive differentiation versus older stock. Amenity access skews toward necessities (restaurants and groceries) over leisure, aligning with workforce housing dynamics and consistent day-to-day demand drivers.
- Elevated renter-occupied housing share in the neighborhood supports tenant depth and leasing velocity
- 3-mile household growth and forecast renter pool expansion bolster long-run demand and occupancy stability
- 1979 vintage provides actionable value-add and modernization pathways to enhance rent roll durability
- Everyday amenity access (restaurants, groceries) aligns with workforce-oriented renter preferences
- Risk: Neighborhood occupancy has been soft; performance depends on lease execution, affordability management, and targeted capex