| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 52nd | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 171 Bryn Mawr St, Ravenna, OH, 44266, US |
| Region / Metro | Ravenna |
| Year of Construction | 1997 |
| Units | 51 |
| Transaction Date | 2021-06-22 |
| Transaction Price | $3,468,900 |
| Buyer | BRYN MAWR SENIOR HOUSING |
| Seller | NATIONAL CHURCH RESIDENCES OF RAVENNA |
171 Bryn Mawr St Ravenna 51-Unit Multifamily
Neighborhood occupancy remains solid with a sizable renter base, according to WDSuite’s CRE market data, suggesting stable leasing fundamentals for a 51‑unit asset built in 1997. The property’s smaller average unit sizes can appeal to value-seeking renters, supporting steady demand and retention.
This Inner Suburb neighborhood in the Akron, OH metro carries a B rating and sits above the metro median (rank 75 of 180) for overall performance, per WDSuite. Occupancy in the neighborhood is about 93.5% and has improved modestly over five years, with national positioning above the median. A renter-occupied share of housing units near 53% indicates depth in the tenant base, which generally supports leasing stability for multifamily.
Amenities skew toward essentials: neighborhood grocery and restaurant density rank competitively in the metro (47 and 48 of 180, respectively) and track in the low-to-mid 70s nationally, while park access sits in the top quartile nationally. However, cafés, childcare, and pharmacies are limited locally. For investors, this mix suggests everyday convenience with some lifestyle gaps that may temper premium positioning but can support workforce-oriented demand.
Rents trend moderate (neighborhood median contract rent around the high‑$700s) and the rent-to-income ratio of roughly 0.15 implies manageable affordability, aiding renewal prospects and reducing turnover risk. Home values are comparatively accessible for ownership in the area, which can create competition for some renter segments; however, it also tends to anchor steady demand for well-managed, more affordable apartments.
Within a 3‑mile radius, demographics indicate a slight population contraction alongside smaller household sizes, with WDSuite’s multifamily property research pointing to an increase in households over the forecast horizon. This pattern often supports a broader renter pool for studios and smaller floor plans—aligning with the subject’s smaller average unit size—while reinforcing the need for attentive lease management and targeted amenity upgrades to drive retention.
Comparable neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically benchmark conditions against city and metro trends and review municipal sources for recent patterns. Context from nearby Inner Suburb areas and on-site operations (lighting, access control) can help shape risk assessment and capital planning without relying on block-level assumptions.
Regional employment is anchored by manufacturing, utilities, transportation, and distribution nodes within commuting distance, which supports renter demand and lease retention for workforce housing. Key nearby employers include Goodyear, FirstEnergy, Norfolk Southern, and a Home Depot distribution facility.
- Goodyear Tire & Rubber — manufacturing (15.0 miles) — HQ
- FirstEnergy — utilities (16.3 miles) — HQ
- Norfolk Southern — transportation (18.6 miles)
- Norfolk Southern Motor Yard — transportation (19.7 miles)
- Home Depot Distribution Center — distribution (19.9 miles)
Constructed in 1997, the property is newer than much of the surrounding housing stock, positioning it competitively versus older inventory while still allowing for targeted modernization to unlock value-add upside. Neighborhood occupancy around 93.5% and a renter-occupied share near 53% indicate a meaningful tenant base, and according to commercial real estate analysis from WDSuite, local rent levels and a moderate rent-to-income profile support renewal probability and steady cash flow.
Smaller average unit sizes (approximately 403 square feet) align with workforce and value-oriented demand, particularly as nearby households trend smaller within a 3‑mile radius. Essentials-oriented amenities and proximity to major employers bolster day-to-day livability, though limited café/pharmacy options and relatively accessible homeownership may moderate pricing power. Forward-looking plans should weigh modest rent growth expectations against selective capex and operational efficiencies.
- Newer 1997 vintage versus area norms supports competitive positioning with selective modernization potential
- Stable neighborhood occupancy and sizable renter concentration underpin leasing durability
- Smaller unit mix fits value-oriented demand and aids lease-up/retention strategies
- Workforce employment nodes within commuting distance support ongoing tenant demand
- Risks: limited lifestyle amenities nearby, muted rent growth outlook, and competition from relatively accessible ownership