| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 66th | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5241 Sunnybrook Rd, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 2005 |
| Units | 91 |
| Transaction Date | 2015-04-03 |
| Transaction Price | $15,370,000 |
| Buyer | Gables of KentRidge |
| Seller | Inn at Golden Pond LTD |
5241 Sunnybrook Rd Kent OH Multifamily Investment
Neighborhood data points to a deep renter base and rents around the national midpoint, supporting steady lease-up potential according to WDSuite’s CRE market data and commercial real estate analysis.
Kent’s inner-suburban setting offers daily convenience with grocery and restaurant access comparable to national norms, and cafe density in the top quartile nationally. Within the Akron metro, amenity access is competitive among Akron, OH neighborhoods (48th of 180), though formal parks and childcare options are limited nearby.
Multifamily signals are mixed: the neighborhood’s occupancy trends are below the metro median (144th of 180), yet renter-occupied housing concentration ranks in the top quartile nationally, indicating depth in the tenant pool and potential demand stability. Neighborhood-level rents score above the national midpoint, while rent-to-income metrics indicate relatively moderate affordability pressure, aiding retention and lease management.
The local housing stock skews newer for the metro (average construction year ranks in the top quartile nationally). With a 2005 vintage, the subject property should remain competitive against older assets, with capital planning focused on system updates and select modernization to sustain positioning.
Demographics within a 3-mile radius show a recent dip in population alongside a modest increase in households, implying smaller household sizes and a steady renter pool. Forward-looking estimates point to household growth by the mid‑term forecast horizon, which would expand the tenant base and support occupancy stability. Median home values sit near the national midpoint, and a higher value-to-income profile for the neighborhood suggests a high‑cost ownership market relative to local incomes, which can reinforce reliance on multifamily rentals and support pricing power when managed carefully.
Safety indicators are mixed compared with national and metro benchmarks. Overall crime sits around the national midpoint, and within the Akron metro the neighborhood’s crime rank suggests it is not among the metro’s lower-crime areas (44th of 180 total neighborhoods). Violent-offense levels benchmark in the top quartile nationally for safety, but recent year-over-year trends show deterioration, warranting ongoing monitoring and prudent property security measures. Property-offense levels track near the national middle.
Proximity to established employers underpins workforce housing demand and commute convenience, led by Goodyear, FirstEnergy, Norfolk Southern operations, a Home Depot distribution node, and Erie Insurance offices.
- Goodyear Tire & Rubber — manufacturing HQ and corporate (7.8 miles) — HQ
- FirstEnergy — utilities HQ and corporate (8.8 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (16.2 miles)
- Home Depot Distribution Center — logistics/warehouse (18.0 miles)
- Erie Insurance Group — insurance offices (20.0 miles)
5241 Sunnybrook Rd combines a 2005 vintage and a 91‑unit scale with a renter-heavy neighborhood that ranks in the top quartile nationally for renter concentration. According to CRE market data from WDSuite, neighborhood rents sit above the national midpoint while rent-to-income indicators remain relatively manageable, supporting retention. The average construction year in the area skews newer, helping the asset compete on quality; targeted modernization can further enhance positioning. Near-term occupancy in the neighborhood trails the metro median, but a rising household count within a 3‑mile radius and proximity to major employers point to durable renter demand over the hold.
Forward-looking demographics within 3 miles indicate growth in households and renter share through the forecast period, expanding the tenant base and supporting lease stability. Home values near the national midpoint and a higher value-to-income profile suggest ownership remains comparatively costly versus incomes, reinforcing reliance on multifamily rentals and supporting pricing power when balanced with affordability management.
- Renter concentration in the top quartile nationally supports a deep tenant base
- 2005 vintage with modernization potential to enhance competitive positioning
- Household growth within 3 miles and strong employer proximity bolster demand
- Rent levels above the national midpoint with manageable rent-to-income aids retention
- Risk: Neighborhood occupancy trails metro median and safety trends warrant monitoring