| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 78th | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 Merriman Rd, Akron, OH, 44303, US |
| Region / Metro | Akron |
| Year of Construction | 1973 |
| Units | 21 |
| Transaction Date | 2012-05-14 |
| Transaction Price | $750,000 |
| Buyer | REVOLUTION PARTNERS LLC |
| Seller | SEAL REAL ESTATE HOLDINGS LLC |
101 Merriman Rd, Akron OH Multifamily Investment
Renter demand is supported by a mixed-tenure neighborhood and steady occupancy, according to WDSuite’s CRE market data, positioning this 21-unit asset for durable income with operational upside.
The property sits in an Inner Suburb neighborhood of Akron rated A, with neighborhood occupancy trending firm and a renter-occupied share around the mid-40s. That mix points to a stable tenant base while allowing room for targeted rent optimization rather than wholesale repositioning. Built in 1973, the asset is newer than much of the area’s housing stock from the early 1950s; investors should budget for selective modernization to stay competitive, but the vintage also compares favorably to older nearby product.
Local amenities are a practical draw. Restaurant density is competitive among Akron neighborhoods (ranked 26 of 180) and sits in the top quartile nationally, while grocery and park access also rank competitively in the metro (both 22–34 of 180) with national percentiles around the low-80s. Childcare availability ranks similarly well in the metro, supporting everyday livability for working households.
Housing costs and incomes point to attainable rents and retention potential. Neighborhood rent-to-income ratios are moderate, and home values are relatively low versus national norms, which can introduce some competition from ownership but also support lease stability for renters who prioritize value. According to CRE market data from WDSuite, neighborhood contract rents have grown over the past five years, and the broader 3-mile area shows projections for higher asking rents by 2028, supporting ongoing revenue management.
Demographics within a 3-mile radius show a broad renter pool today (renter-occupied share slightly above half of units) and projections for an increase in households through 2028. Smaller average household sizes alongside rising household counts indicate more leasing demand per capita, which typically supports occupancy stability and reduces lease-up risk for efficient studios and small one-bedrooms like those averaging roughly 370 square feet at this property.
Safety indicators for the neighborhood are mixed relative to the Akron metro and below the national median. The neighborhood’s crime rank is on the lower end among 180 Akron neighborhoods (indicating comparatively higher crime locally), and nationwide the area sits in lower safety percentiles. That said, property offenses have trended down year over year, while violent offenses ticked up modestly. Investors should factor prudent security, lighting, and access controls into operating plans and benchmark against submarket peers.
Nearby employers provide a diversified employment base that reinforces renter demand and supports leasing stability, particularly for workforce housing tied to utilities, manufacturing, logistics, and insurance. The most relevant within commuting distance include FirstEnergy, Goodyear Tire & Rubber, Norfolk Southern, Erie Insurance Group, and a Home Depot distribution facility.
- FirstEnergy — utilities (1.3 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (4.0 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (16.6 miles)
- Erie Insurance Group — insurance (17.9 miles)
- Home Depot Distribution Center — distribution (20.1 miles)
This 21-unit property at 101 Merriman Rd offers a balanced income profile backed by a mixed-tenure neighborhood, competitive amenity access, and a renter pool supported by growing households within a 3-mile radius. Based on commercial real estate analysis from WDSuite, neighborhood occupancy remains solid and rent levels have advanced in recent years, while the 3-mile outlook points to additional rent growth into 2028 — a backdrop that can support steady renewal capture and disciplined pricing.
Built in 1973, the asset is newer than much of the nearby housing stock, suggesting a comparatively competitive baseline with potential to unlock value through targeted unit and common-area updates. Ownership costs in the area are relatively accessible, which can temper pricing power; however, this also supports lease retention among value-seeking renters. Thoughtful capex, security enhancements, and amenity-light operating efficiency can help balance risk and sustain performance against older comparables.
- Solid neighborhood occupancy and growing households within 3 miles support durable tenant demand
- 1973 vintage offers value-add via targeted modernization relative to older local stock
- Competitive access to restaurants, parks, and groceries aids leasing and retention
- Nearby anchor employers (utilities, manufacturing, logistics, insurance) reinforce workforce demand
- Risks: below-median safety and ownership competition; mitigate via security, value-focused renovations, and disciplined rent setting