| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 65th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1630 Maplewood Dr, Streetsboro, OH, 44241, US |
| Region / Metro | Streetsboro |
| Year of Construction | 1982 |
| Units | 50 |
| Transaction Date | 2009-06-29 |
| Transaction Price | $777,400 |
| Buyer | MAPLEWOOD ELDERLY HOUSING LIMITED PARTNE |
| Seller | STREETSBORO ELDERLY HOUSING LIMITED PART |
1630 Maplewood Dr Streetsboro Multifamily Investment Opportunity
Neighborhood-level occupancy remains strong and renter demand appears resilient for this submarket, according to WDSuite’s CRE market data, with statistics measured for the neighborhood rather than the property. Stability and a broadening tenant base position this asset for consistent operations in a growing corridor of Portage County.
The property sits in an A-rated neighborhood ranked 13th among 180 Akron metro neighborhoods, placing it in the top quartile locally. Occupancy is high (top decile nationally), indicating tight availability and potential support for steady lease-up and renewals at well-managed properties. Median contract rents in the neighborhood are around the low $1,100s, suggesting attainable pricing relative to nearby employment nodes while still leaving room for disciplined revenue management.
Livability is balanced for a rural-leaning area: grocery, pharmacy, and day care density track above metro medians, and restaurant/cafe counts are competitive for the Akron region. Average school ratings are mid-range (around 3.0 out of 5), which can support family renter retention without commanding top-of-market premiums. These amenity and school dynamics, per commercial real estate analysis from WDSuite, align with workforce-oriented demand rather than luxury positioning.
Construction trends skew slightly newer than the subject’s 1982 vintage (neighborhood average closer to the late 1980s). For investors, that gap often points to value-add opportunities: modernization, interiors, and building systems can enhance competitive standing versus newer stock. Renter-occupied housing accounts for roughly 29% of units in the neighborhood, indicating a predominantly owner-occupied area but with a meaningful renter pool that supports multifamily demand depth.
Demographics within a 3-mile radius show recent population and household growth, with forecasts calling for additional increases and a modest shift toward smaller household sizes. Rising median and mean household incomes in the area, alongside a rent-to-income profile that remains manageable, support occupancy stability and disciplined renewal strategies, while elevated home values relative to local incomes remain moderate enough that ownership can compete—an important consideration for pricing and retention planning.
Safety indicators compare favorably at a national level, with the neighborhood scoring above the U.S. median overall. Property offense rates sit in the top percentile nationally (safer than most neighborhoods across the country), and violent offense levels trend in the upper quintiles for safety. That said, recent year-over-year shifts in violent offense have moved unfavorably, warranting routine monitoring by operators.
Within the Akron metro context, the neighborhood’s crime rank is 23rd of 180 neighborhoods, which translates to competitive performance versus many peers but with pockets of risk typical for mixed residential-commercial areas. Investors should interpret these figures as neighborhood-level signals—not site-specific conditions—and incorporate standard security, lighting, and resident engagement practices appropriate for similar Midwest suburban locations.
Proximity to transportation, utilities, distribution, and industrial employers underpins workforce rental demand and commute convenience. Nearby nodes include Norfolk Southern’s motor yard, a Home Depot distribution facility, FirstEnergy, Goodyear Tire & Rubber, and Airgas Merchant Gases.
- Norfolk Southern Motor Yard — transportation/logistics (11.8 miles)
- Home Depot Distribution Center — distribution (12.2 miles)
- FirstEnergy — utilities (14.2 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (14.2 miles) — HQ
- Airgas Merchant Gases — industrial gases (19.6 miles)
Built in 1982, this 50-unit asset is slightly older than the neighborhood’s average stock, creating a clear value-add path through targeted renovations and system upgrades while competing in an area with tight occupancy and broadening renter demand. Based on CRE market data from WDSuite, the neighborhood’s occupancy trends rank among the strongest locally and compare favorably nationwide, supporting stable cash flow potential with disciplined operations.
Within a 3-mile radius, recent population and household growth—and forecasts for further gains with slightly smaller household sizes—signal a larger tenant base over time. Income levels are rising, rent-to-income is manageable by regional standards, and home values remain high enough to sustain reliance on rental options without eliminating competition from ownership, shaping a strategy focused on retention and measured rent growth rather than outsized premiums.
- Tight neighborhood occupancy supports leasing stability and renewal performance
- 1982 vintage offers value-add and systems modernization upside versus newer comparables
- Expanding 3-mile renter pool and income growth bolster long-term demand
- Attainable neighborhood rents enable disciplined revenue management without overreaching
- Risk: homeownership remains accessible locally, requiring competitive positioning and strong resident experience