| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 34th | Poor |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1462 Russell Dr, Streetsboro, OH, 44241, US |
| Region / Metro | Streetsboro |
| Year of Construction | 1982 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1462 Russell Dr Streetsboro Multifamily Investment
Neighborhood occupancy has been exceptionally tight, supporting stable renter demand according to WDSuite’s CRE market data.
Located in a suburban pocket of Streetsboro within the Akron metro, the property benefits from neighborhood-level occupancy that ranks first out of 180 neighborhoods, indicating full utilization of existing housing stock. This is a neighborhood statistic, not a property measure, but it points to leasing stability for nearby assets.
Amenity access is mixed: cafe density is competitive among Akron neighborhoods (ranked 9 out of 180 and in a high national percentile), and pharmacy presence is also relatively strong (ranked 11 out of 180). Grocery, parks, and formal childcare are limited within the immediate neighborhood footprint, so residents may rely on nearby corridors for daily needs, which is common in suburban formats.
Vintage context matters: built in 1982, the asset is newer than the neighborhood’s average construction year (1972). That positioning can help against older stock while still warranting selective modernization of systems and finishes to maintain competitiveness.
Tenure patterns signal an owner-leaning neighborhood with an estimated 19% of housing units renter-occupied at the neighborhood level, while the 3-mile area shows a deeper renter base at roughly one-third of units. For investors, this mix suggests steady multifamily demand with some cross-competition from ownership options.
Within a 3-mile radius, recent population and household growth have expanded the tenant base, with additional increases forecast over the next five years. Rising household incomes in the area support rent levels, and a neighborhood rent-to-income ratio near 0.13 indicates manageable rent burdens that can aid lease retention. Home values remain more accessible than high-cost metros, which can temper pricing power but also support durable occupancy when paired with pragmatic rent setting and service quality.
Neighborhood-level public safety benchmarks were not available in the current WDSuite feed for this location. Investors commonly supplement metro and neighborhood comparisons with local law enforcement reports and property-level incident logs to evaluate trend direction and relative positioning within the Akron, OH area.
Nearby employment is diversified across logistics, utilities, and manufacturing, which supports workforce housing demand and reasonable commute times for renters. Notable employers in range include Norfolk Southern’s rail operations, Home Depot’s distribution, FirstEnergy, Goodyear Tire & Rubber, and Airgas.
- Norfolk Southern Motor Yard — rail logistics (11.3 miles)
- Home Depot Distribution Center — retail distribution (11.6 miles)
- FirstEnergy — utilities (14.3 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (14.5 miles) — HQ
- Airgas Merchant Gases — industrial gases (19.1 miles)
This 40-unit, 1982-vintage asset in Streetsboro sits in a suburban neighborhood where housing is fully utilized, a neighborhood-level signal that supports occupancy stability for nearby multifamily. The asset’s vintage is newer than the local average, offering competitive positioning versus older stock while still leaving room for targeted modernization to drive rentability and operational resilience.
Within a 3-mile radius, recent population and household growth point to a larger tenant base over the next cycle, aided by rising incomes and proximity to diversified employers. According to CRE market data from WDSuite, the neighborhood’s low rent-to-income ratio suggests headroom for prudent rent management, while more accessible ownership costs in the area imply measured pricing power and a need for service- and retention-led strategies.
- Neighborhood-level housing is fully utilized, supporting occupancy stability for nearby rentals
- 1982 construction is newer than local averages, with upside via selective modernization
- Expanding 3-mile renter pool and diversified employers underpin demand and retention
- Rent-to-income levels indicate room for careful pricing while maintaining renewal health
- Risks: owner-leaning neighborhood, limited on-foot amenities, and competition from ownership options may temper rent growth