| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 25th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5956 Horning Rd, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 2001 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5956 Horning Rd Kent Multifamily Investment Opportunity
Built in 2001, this 54-unit asset offers newer-than-area vintage positioning relative to nearby housing stock and benefits from sustained renter reliance in a high-cost ownership market, according to WDSuite s CRE market data.
Situated in Kent within the Akron metro, the property sits in an Inner Suburb neighborhood rated C+ (ranked 116 out of 180 metro neighborhoods). Nearby housing skews older (average 1981), which makes 2001 construction relatively competitive versus much of the local stock. Restaurants are a relative strength for daily needs, while parks, pharmacies, and cafes are limited within the immediate neighborhood footprint.
Home values in the neighborhood are elevated relative to local incomes (value-to-income ratio ranks among the highest in the metro’s 180 neighborhoods), a dynamic that typically reinforces renter demand and supports tenant retention for well-managed assets. At the same time, neighborhood occupancy has been soft recently; this is a neighborhood-level metric, not the property, and it suggests attention to leasing strategy and product differentiation will matter.
Within a 3-mile radius, the area skews renter-occupied, providing a deep tenant base tied to nearby employment and education. Households have increased modestly in recent years and are projected to expand further, indicating a larger renter pool ahead that can support occupancy stability and absorption.
Childcare access and grocery options are competitive among Akron neighborhoods, while restaurants score above the metro median. These local dynamics help day-to-day livability for residents, though limited park and cafe density may shift some lifestyle draws to nearby nodes.
Safety indicators are mixed when benchmarked nationally. Property crime levels sit below the national median (lower percentile), while violent crime measures also trend below average; however, both categories show year-over-year improvement with notable declines, according to WDSuite s data. These figures reflect neighborhood conditions rather than the property itself.
Within the Akron metro (180 neighborhoods), the neighborhood’s crime standing is not among the top-performing cohorts, but recent downward trends are constructive. Investors should weigh current conditions alongside the trajectory, local property management practices, and resident screening standards.
The area draws from a broad employment base that supports renter demand, led by regional corporate headquarters, utilities, logistics, insurance, and rail operations within commuting distance.
- Goodyear Tire & Rubber — tire manufacturing (9.8 miles) — HQ
- FirstEnergy — electric utility (10.6 miles) — HQ
- Norfolk Southern Motor Yard — rail yard operations (15.9 miles)
- Home Depot Distribution Center — distribution & logistics (17.2 miles)
- Erie Insurance Group — insurance (21.7 miles)
This 54-unit property, built in 2001, is newer than much of the surrounding housing stock and can compete effectively on deferred maintenance and finishes while providing scope for targeted renovations as systems age. Based on CRE market data from WDSuite, high ownership costs in the neighborhood bolster reliance on rentals, and the 3-mile area shows a renter-occupied tilt with households projected to expand—supporting a larger tenant base and occupancy stability over the medium term.
Counterbalancing strengths, neighborhood-level occupancy has been soft and rent-to-income metrics signal affordability pressure, suggesting careful lease management, unit mix optimization, and value-focused upgrades will be important. Amenity limitations within the immediate neighborhood also place a premium on convenient access to groceries and childcare, which are comparative positives locally.
- 2001 vintage offers competitive positioning versus older neighborhood stock with selective value-add potential
- High-cost ownership landscape reinforces rental demand and supports retention
- 3-mile area shows growing household base, expanding the renter pool and supporting absorption
- Diverse regional employers within commuting range underpin workforce housing demand
- Risk: softer neighborhood occupancy and rent-to-income pressure require disciplined leasing and pricing