| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 65th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 815 Frost Rd, Streetsboro, OH, 44241, US |
| Region / Metro | Streetsboro |
| Year of Construction | 1997 |
| Units | 108 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
815 Frost Rd, Streetsboro OH Multifamily Investment
Neighborhood indicators point to durable renter demand and strong occupancy at the area level, according to WDSuite’s CRE market data. The takeaway for investors is stable performance drivers rather than outsized growth assumptions, with metrics measured for the neighborhood rather than the property.
The property sits in an Inner Suburb of the Akron, OH metro with a B neighborhood rating, suggesting balanced fundamentals rather than speculative momentum. Neighborhood occupancy performance ranks 1 out of 180 Akron neighborhoods and is in the top tier nationally, underscoring area-level stability that can support consistent leasing and retention for nearby assets. Average NOI per unit also ranks 7 out of 180, which is competitive among Akron neighborhoods and signals operational potential when managed efficiently, based on CRE market data from WDSuite.
Renter concentration in the neighborhood is high, with a large share of housing units renter-occupied (measured for the neighborhood, not this property). This depth of the tenant base supports multifamily demand and helps underpin occupancy through cycles. By contrast, within a 3-mile radius, the housing stock skews more owner-occupied, which can help segment demand toward professionally managed apartments for households prioritizing convenience and flexibility.
Demographic statistics aggregated within a 3-mile radius show recent population growth alongside an increase in households, with projections indicating further gains and a gradual shift toward smaller household sizes. For investors, these trends point to a widening renter pool and steady leasing pipelines rather than one-off spikes, which can support occupancy stability and measured rent growth management.
The neighborhood’s construction year profile averages early-1990s; this asset’s 1997 vintage is slightly newer than that baseline, typically competitive versus older stock while still warranting capital planning for system updates or value-add modernization. Local retail and service density is limited within the immediate neighborhood, so residents may rely on car trips for daily needs; that dynamic can be offset by proximity to employment nodes noted below and by positioning amenities that enhance on-site livability.
On costs and affordability, neighborhood home values are lower than many national peers (around the lower national third), which can introduce some competition from ownership options. However, neighborhood rent levels and a rent-to-income profile around the mid-20s suggest manageable affordability pressure that supports lease retention and measured pricing power when paired with asset-level improvements.
Comparable, property-level safety data is not available in this dataset. Neighborhood crime metrics were not reported, so investors should benchmark against broader Akron context and recent local trends, and incorporate on-site security practices and lighting, resident screening, and design features into underwriting. Avoid drawing block-level conclusions without current, verified statistics.
Nearby employers provide a diversified employment base that can support workforce housing demand and reduce commute frictions. Key nodes within a commutable radius include rail operations, distribution, utilities, and manufacturing headquarters listed below.
- Norfolk Southern Motor Yard — rail operations (9.5 miles)
- Home Depot Distribution Center — distribution & logistics (9.8 miles)
- FirstEnergy — utilities & corporate services (14.7 miles) — HQ
- Goodyear Tire & Rubber — manufacturing & corporate (15.2 miles) — HQ
- Airgas Merchant Gases — industrial gases (17.3 miles)
815 Frost Rd offers a scale advantage at 108 units in a neighborhood that demonstrates top-tier occupancy performance and competitive operating potential versus Akron peers. The 1997 vintage is modestly newer than the area’s early-1990s average, positioning the asset well against older stock while leaving room for targeted modernization to enhance rentability and retention. According to CRE market data from WDSuite, neighborhood-level occupancy performance sits at the top of the metro, and 3-mile demographics point to population growth and an expanding household base that can support a larger tenant pool over the next several years.
Investor considerations include limited immediate retail/service density—which may require emphasizing on-site amenities—and an ownership market that is relatively accessible compared with national norms, requiring disciplined leasing and product differentiation. Even so, rent-to-income dynamics suggest manageable affordability pressure, supporting steady leasing and measured pricing power when paired with asset-level improvements and professional management.
- Neighborhood-level occupancy ranks at the top of Akron, supporting leasing stability and retention.
- 1997 vintage offers competitive positioning versus older stock with clear value-add modernization potential.
- 3-mile population and household growth expand the tenant base and support long-term demand.
- Diversified regional employers within commuting distance underpin workforce housing demand.
- Risks: limited nearby amenities and potential competition from ownership options call for focused amenity programming and leasing strategy.