| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 52nd | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 770 Northgate Dr, Ravenna, OH, 44266, US |
| Region / Metro | Ravenna |
| Year of Construction | 1989 |
| Units | 50 |
| Transaction Date | 1988-12-15 |
| Transaction Price | $130,000 |
| Buyer | WINDHAM HOUSING CORP |
| Seller | --- |
770 Northgate Dr Ravenna Multifamily Investment
Neighborhood occupancy trends are above the national median and renter concentration ranks in the top quartile within the Akron metro, according to WDSuite’s CRE market data. This supports steady tenant demand for a 1989-vintage, 50-unit asset with potential to compete against older local stock.
Livability signals point to everyday convenience rather than destination amenities. Grocery and restaurant density score above many U.S. neighborhoods, while cafes, childcare, and pharmacies are limited locally. For investors, that mix supports workforce housing demand and routine shopping trips without relying on high-end retail, per commercial real estate analysis from WDSuite.
Renter-occupied housing is in the top quartile among 180 Akron neighborhoods, indicating a relatively deep tenant base and underpinning multifamily leasing stability. Neighborhood occupancy sits above the national median, which can aid retention through cycles even if rent growth moderates.
The property’s 1989 construction is newer than the neighborhood’s average vintage (late 1960s). That positioning typically reduces immediate capital exposure versus older comparables while still leaving room for targeted value-add and systems modernization as part of medium-term capital planning.
Within a 3-mile radius, recent years show modest population contraction but a gradual shift toward smaller households, with forecasts pointing to more households even as total population edges down. For multifamily, a growing number of households can broaden the renter pool and support occupancy, particularly for efficient floor plans. Median home values are lower than many U.S. neighborhoods, which can introduce some competition from ownership; however, relatively low rent-to-income levels suggest manageable affordability pressure that can support lease retention.
Comparable metro crime ranks and national safety percentiles are not available in WDSuite for this neighborhood. Without ranked data against the 180 Akron neighborhoods or national percentiles, investors should contextualize property operations using broader city and county trends and standard risk controls typical for similar inner-suburban locations.
Regional employment is anchored by nearby corporate and logistics nodes that broaden the commuter tenant base and can support leasing stability: tire manufacturing, electric utilities, rail operations, and regional distribution.
- Goodyear Tire & Rubber — tire manufacturing (15.1 miles) — HQ
- FirstEnergy — electric utility (16.3 miles) — HQ
- Norfolk Southern — rail operations (18.9 miles)
- Norfolk Southern Motor Yard — rail yard (19.1 miles)
- Home Depot Distribution Center — distribution & logistics (19.2 miles)
This 50-unit, 1989-vintage asset sits in a neighborhood with renter-occupied housing in the top quartile of the Akron metro and occupancy trends above the national median, supporting demand resilience and leasing stability. Newer vintage versus the local average (late 1960s) provides relative competitive footing against older stock, with potential value-add through selective interior and systems upgrades.
Within a 3-mile radius, households are expected to increase even as population trends soften, pointing to smaller household sizes and a broader renter pool. Home values are comparatively modest in the national context, which can introduce ownership competition; however, rent levels relative to incomes indicate manageable affordability pressure. According to CRE market data from WDSuite, day-to-day amenities like grocery and parks are accessible, while limited specialty retail reinforces a workforce housing profile.
- Renter concentration ranks top quartile among 180 Akron neighborhoods, supporting tenant demand depth.
- Neighborhood occupancy trends above the national median aid retention through cycles.
- 1989 construction offers competitive positioning versus older local stock with targeted value-add potential.
- Household growth within 3 miles broadens the renter pool despite modest population softening.
- Risks: potential competition from homeownership and thinner specialty amenities (cafes, pharmacies) may temper pricing power.