| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 65th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9257 Shady Lake Dr, Streetsboro, OH, 44241, US |
| Region / Metro | Streetsboro |
| Year of Construction | 1996 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | $1,600,000 |
| Buyer | STREETSBORO 14 LLC |
| Seller | SHADY LAKE APARTMENTS INC |
9257 Shady Lake Dr Streetsboro Multifamily Opportunity
Neighborhood occupancy has remained high and resilient, supporting stable cash flow potential for well-run assets, according to WDSuite’s CRE market data. This thesis reflects conditions in the immediate area around Streetsboro rather than property-specific operations.
Streetsboro’s Shady Lake area ranks in the top quartile among 180 Akron neighborhoods (A-rated) for overall livability and investment fundamentals, per WDSuite’s CRE market data. Neighborhood occupancy is elevated with an upward trend over the past five years, a positive signal for lease-up and renewal stability at comparable assets.
Within a 3-mile radius, households and population have expanded in recent years and are projected to keep growing through 2028, pointing to a larger tenant base and supportive demand for rental units. Renter-occupied housing comprises roughly three-tenths of units in this 3-mile area, indicating a meaningful but not oversaturated renter concentration that can support demand without excessive turnover risk.
Ownership costs are moderate for the region, with home values near the metro midpoint and a low value-to-income ratio relative to national norms. This can introduce some competition from ownership options, yet neighborhood rent levels and a favorable rent-to-income profile suggest manageable affordability pressure that can aid retention and reduce concession risk.
Amenity access is balanced for a suburban/rural-edge location, with groceries, pharmacies, childcare, and dining present at above-median levels for the metro. Average school ratings are mid-range, which can help sustain family-oriented renter demand without materially elevating turnover. Vintage in the area skews late-1980s; a 1996-built asset is newer than typical nearby stock, offering relative competitiveness while warranting selective system updates as it ages.
Neighborhood safety indicators compare favorably against many U.S. neighborhoods, with property and violent offense measures sitting in higher national safety percentiles, based on WDSuite’s CRE data. At the same time, recent year-over-year movement shows an uptick in violent incidents, so investors should underwrite with standard safeguards (lighting, access control, and monitoring) and track trendlines rather than relying on a single-year reading.
In short, the area’s longer-run positioning appears comparatively strong at the national level, but prudent operators will validate recent trend direction and incorporate appropriate onsite practices to support resident experience and retention.
The employment base features transportation, distribution, and major corporate headquarters within commutable range, supporting workforce housing demand and lease retention for nearby multifamily. Specifically, rail operations, big-box distribution, and corporate offices for energy, tires, and diversified industrials anchor the area.
- Norfolk Southern Motor Yard — rail operations (10.6 miles)
- Home Depot Distribution Center — distribution logistics (11.0 miles)
- FirstEnergy — electric utility (14.1 miles) — HQ
- Goodyear Tire & Rubber — tires & rubber manufacturing (14.4 miles) — HQ
- Parker-Hannifin — diversified industrial (18.8 miles) — HQ
This 1996-vintage asset offers a competitive position versus older neighborhood stock, with potential to outperform on leasing given elevated neighborhood occupancy and steady renter demand. Population and household growth within a 3-mile radius point to an expanding renter pool, while rent levels and rent-to-income dynamics in the area indicate manageable affordability pressure that can support retention, according to CRE market data from WDSuite.
Ownership costs in the submarket are relatively accessible, which can constrain pricing power in certain vintages; however, a well-maintained mid-1990s property can capture demand from residents prioritizing modern layouts and systems relative to 1980s product. Operators should plan for targeted modernization of aging components to sustain competitiveness and reduce near-term capex surprises.
- Elevated neighborhood occupancy supports lease-up stability and renewal potential.
- 3-mile population and household growth expand the tenant base for sustained demand.
- 1996 vintage is newer than nearby averages, with value-add via selective system upgrades.
- Rent and income balance suggests manageable affordability pressure aiding retention.
- Risks: some competition from ownership options and monitoring recent crime trend movement.