| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 25th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 701 S Lincoln St, Kent, OH, 44240, US |
| Region / Metro | Kent |
| Year of Construction | 1982 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
701 S Lincoln St Kent Multifamily Near Major Employers
Neighborhood-level data points to a high renter concentration and an ownership market that is costly relative to local incomes, supporting sustained multifamily demand, according to WDSuite s CRE market data.
The surrounding Kent location functions as an Inner Suburb within the Akron metro and carries a neighborhood rating of C+. Neighborhood occupancy is soft compared with peers (ranked 179 out of 180 metro neighborhoods), signaling lease-up and renewal headwinds for operators. Counterbalancing that, renter-occupied housing represents a sizable share of local units (48.2%), placing the area in the higher tiers nationally for renter concentration, which supports depth of tenant demand for multifamily.
Daily needs are reasonably served: grocery access scores in the upper third nationally, and restaurants are competitive (top quartile nationally). Childcare availability also lands in a stronger national tier. However, cafes, parks, and pharmacies are limited within the immediate neighborhood, indicating residents depend on nearby corridors for certain amenities.
Rent levels in the neighborhood sit around the metro median, aligning with workforce-oriented positioning. Elevated home values relative to incomes (top few percent nationwide on value-to-income) indicate a high-cost ownership market, which tends to reinforce reliance on multifamily housing and can aid renter retention when lease management remains disciplined.
Within a 3-mile radius, demographics skew younger with a large 18 4 cohort and a renter share above 50%. Over the last five years, population dipped modestly while household counts edged higher, implying smaller household sizes and continued rental demand. Looking ahead, WDSuite data indicates household growth in the area through 2028, which would expand the tenant base and support occupancy stability if supply additions remain measured.
Safety signals are mixed relative to the Akron metro and national benchmarks. Overall crime positions near the middle of national comparisons, while violent and property offense levels sit below average nationally; however, both have improved year over year. Specifically, the neighborhood s recent declines in violent and property offense rates place it in stronger improvement tiers nationally, suggesting a constructive trend even if absolute levels warrant continued monitoring.
In metro context, this area ranks 45 out of 180 Akron neighborhoods for overall crime (competitive among metro peers), yet property crime levels align with weaker national percentiles. Investors should underwrite security measures and operating practices accordingly, while recognizing that recent improvement momentum can support resident retention and leasing.
The broader employment base features manufacturing, utilities, rail operations, distribution, and insurance offices within commuting distance, supporting workforce housing demand and lease stability for nearby multifamily. Highlighted below are key employers by proximity: Goodyear Tire & Rubber, FirstEnergy, Norfolk Southern Motor Yard, Home Depot Distribution Center, and Erie Insurance Group.
- Goodyear Tire & Rubber manufacturing HQ (8.9 miles) HQ
- FirstEnergy electric utility HQ (9.8 miles) HQ
- Norfolk Southern Motor Yard rail operations (15.8 miles)
- Home Depot Distribution Center retail distribution (17.4 miles)
- Erie Insurance Group insurance offices (21.1 miles)
701 S Lincoln St is a 102-unit asset in an Inner Suburb setting where renter-occupied housing represents a large share of local units, indicating a deep tenant base for multifamily. Neighborhood occupancy trends are currently soft versus the Akron metro, so underwriting should prioritize leasing velocity and renewal strategies. At the same time, a high-cost ownership landscape relative to incomes supports ongoing renter reliance, and nearby diversified employers provide steady demand drivers. Based on commercial real estate analysis from WDSuite, rents in the area align with metro norms, which can aid absorption when paired with efficient unit layouts.
Within a 3-mile radius, the market skews younger and is expected to see growth in household counts through 2028, pointing to renter pool expansion that can support stabilized occupancy and revenue management. Amenity coverage is serviceable for daily needs, though limited parks/cafes/pharmacies suggest residents tap adjacent corridors a manageable consideration for leasing rather than a structural constraint.
- Large renter concentration supports demand depth and retention potential.
- Ownership costs elevated relative to incomes reinforce multifamily reliance.
- Proximity to diversified employers underpins leasing and renewal prospects.
- Neighborhood occupancy currently soft; underwrite lease-up, concessions, and renewal risk.
- Amenity mix favors essentials; limited parks/cafes/pharmacies may affect lifestyle positioning.