| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 52nd | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4514 Coe Rd, Ravenna, OH, 44266, US |
| Region / Metro | Ravenna |
| Year of Construction | 1995 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4514 Coe Rd, Ravenna OH — 60-Unit Multifamily
1995 garden-style asset in an inner-suburban Ravenna location where renter concentration is high and neighborhood occupancy trends sit above the national median, according to WDSuite's CRE market data.
Ravenna's inner-suburban setting offers everyday convenience more than nightlife. Grocery access and dining density track above metro medians (ranks 47 and 48 out of 180 Akron neighborhoods; roughly 74th and 73rd national percentiles), while parks access is also strong (rank 29 of 180; 78th percentile nationally). Cafes and pharmacies are sparse locally, so residents may rely on nearby corridors for those services. These amenity patterns support workforce housing demand with practical proximity rather than destination retail.
Neighborhood occupancy is measured at 93.5% and sits in the 62nd percentile nationally, indicating comparatively stable utilization even if the submarket is near the metro middle (rank 105 of 180). Median asking rents remain in the mid-$700s, which, paired with a rent-to-income ratio around 0.15, suggests manageable affordability pressure that can aid retention but may temper near-term pricing power.
Tenure data shows a high share of renter-occupied housing in the neighborhood (53.2%; top quartile with a rank of 22 among 180), signaling depth in the tenant base for multifamily. Within a 3-mile radius, renter share is closer to two-fifths, still providing a substantial pool for leasing and renewals. The property's 1995 vintage is newer than the neighborhood's average construction year of 1969 (rank 76 of 180; 32nd percentile nationally), offering an age advantage versus older stock while still warranting selective modernization for systems and finishes.
Three-mile demographics point to modest population contraction over the past five years with forecasts showing smaller household sizes and an increase in total households by 2028. For investors, that pattern can sustain renter demand through a larger number of households even as headcount trends flatten, supporting occupancy stability for right-sized units.
Ownership remains relatively accessible in this part of Portage County (median home values at the lower end of regional ranges), which can create some competition with entry-level ownership. Even so, everyday amenities and a practical commute shed help sustain multifamily demand, and income growth trends in the 3-mile radius provide a supportive backdrop for collections and measured rent steps.
Comparable safety benchmarks for this specific neighborhood are not available in the current WDSuite dataset. Investors typically contextualize safety by comparing neighborhood trends to the broader Akron metro and reviewing recent local reports and property management feedback over multiple years.
Given the workforce orientation and practical amenity mix, many owners focus on on-site lighting, access controls, and resident engagement to support retention and asset performance regardless of broader regional statistics.
The workforce draw for this area is supported by nearby manufacturing, utilities, logistics, and industrial employers, which help underpin renter demand through commute convenience and steady payrolls. Notable employers include Goodyear, FirstEnergy, Norfolk Southern's motor yard, a Home Depot distribution node, and Parker-Hannifin.
- Goodyear Tire & Rubber — manufacturing (15.1 miles) — HQ
- FirstEnergy — utilities (16.3 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (18.9 miles)
- Home Depot Distribution Center — retail distribution (19.1 miles)
- Parker-Hannifin — industrial manufacturing (26.1 miles) — HQ
4514 Coe Rd offers a 1995-vintage, 60-unit asset that is newer than much of the neighborhood stock, providing a competitive edge against older properties while leaving room for targeted upgrades to boost rent positioning and operating efficiency. Neighborhood occupancy trends register above the national median, and a top-quartile renter concentration within the neighborhood supports depth of demand and leasing durability.
Within a 3-mile radius, forecasts indicate smaller household sizes and growth in total households despite flat-to-declining population, a setup that can expand the renter pool for compact floor plans and studios. At the same time, the low rent-to-income profile and accessible ownership costs suggest stable collections and retention with measured pricing power, according to commercial real estate analysis from WDSuite.
- Newer 1995 construction versus area average, with value-add potential via selective modernization
- Above-national-median neighborhood occupancy and high renter-occupied share underpin leasing stability
- Household growth within 3 miles despite smaller sizes supports a broader tenant base
- Risk: ownership remains accessible and rent growth expectations are modest, which may limit pricing power