| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 74th | Best |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1551 Hampton Knoll Dr, Akron, OH, 44313, US |
| Region / Metro | Akron |
| Year of Construction | 1980 |
| Units | 48 |
| Transaction Date | 2004-09-21 |
| Transaction Price | $1,254,420 |
| Buyer | HAMPTON KNOLLS LLC |
| Seller | STEINHAUER JOHN S |
1551 Hampton Knoll Dr Akron Multifamily Investment
Neighborhood fundamentals point to stable renter demand and steady occupancy, according to WDSuite s CRE market data. Metrics cited here reflect the surrounding neighborhood, where occupancy has trended upward and renter-occupied housing is meaningful for leasing durability.
Rated A- and ranked 39 out of 180 Akron neighborhoods, the area sits in the top quartile locally a competitive position for long-term multifamily exposure. Neighborhood occupancy is solid and has improved over the past five years, with a national standing above the median. Renter-occupied housing comprises a sizable share of units in this neighborhood, indicating a deep tenant base and supporting leasing stability for a 48-unit asset.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue rising, expanding the renter pool and underpinning demand for rental units. Income levels have also advanced, which helps support rent levels and retention. The neighborhood s median rent sits in the mid-range for the metro and has risen meaningfully over the last five years, reinforcing pricing resilience without signaling acute affordability pressure.
Amenity access is mixed: parks index well versus national peers, while grocery access is around the middle of the pack and cafes, childcare, and pharmacies are relatively sparse. For investors, this translates to livability anchored by green space with some everyday conveniences nearby, albeit with limited immediate retail depth. School ratings are not available in this dataset and are therefore not assessed here.
The property s 1980 vintage is slightly older than the neighborhood average construction year, suggesting typical capital planning for systems and interiors. That age profile can also present value-add or modernization opportunities to enhance competitive positioning against newer stock, particularly as local renter demand remains supportive.
Safety indicators are mixed. The neighborhood s crime rank sits near the metro middle (84 out of 180), and its national standing is below average, indicating that investors should underwrite prudent security and loss-prevention measures. Recent trends show property offenses declining year over year, while violent offense rates have increased over the last year; monitoring trajectory and submarket variations is advisable.
Proximity to established employers supports a stable renter base and commute convenience, notably in utilities, manufacturing, rail logistics, and distribution. The list below reflects nearby demand drivers most relevant to workforce housing in this submarket.
- FirstEnergy utilities (4.6 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (7.1 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (13.4 miles)
- Home Depot Distribution Center — distribution (17.0 miles)
- Airgas Merchant Gases — industrial gases (18.1 miles)
This 48-unit, 1980-vintage asset benefits from a neighborhood that ranks in the top quartile among 180 Akron neighborhoods, with improving occupancy and a sizable share of renter-occupied housing units supporting depth of demand. Within a 3-mile radius, population and households have increased and are projected to continue rising, reinforcing a larger tenant base and aiding occupancy stability. According to CRE market data from WDSuite, neighborhood rent levels sit mid-market and have trended upward, which supports revenue consistency while keeping rent-to-income in a manageable range for retention.
Given its slightly older vintage versus the neighborhood average, the property may warrant targeted capital plans for systems and interiors. That dynamic also creates value-add potential to modernize finishes and amenities and improve competitive positioning, especially as local employment access and steady household growth sustain renter demand.
- Top-quartile neighborhood placement in Akron supports occupancy durability
- Rising population and household counts within 3 miles expand the tenant base
- Mid-market rents with upward trend support revenue with measured retention risk
- 1980 vintage offers value-add and modernization opportunities through targeted capex
- Risks: mixed safety profile, thinner nearby retail/amenity depth, and potential capex for aging systems