| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 74th | Best |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1776 W Waterford Ct, Akron, OH, 44313, US |
| Region / Metro | Akron |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | 2015-11-13 |
| Transaction Price | $15,000,000 |
| Buyer | WATEFORD AT PORTAGE OH LLC |
| Seller | PORTAGE TRAIL HOLDINGS LLC |
1776 W Waterford Ct Akron Multifamily Investment
Renter concentration in the surrounding neighborhood and stable occupancy point to a durable tenant base, according to WDSuite’s CRE market data. For a 20-unit asset, the location suggests consistent leasing with room to manage pricing through operations rather than amenities.
The property sits in Akron’s Inner Suburb with an A- neighborhood rating and a neighborhood rank of 39 out of 180, placing it in the top quartile among Akron neighborhoods for overall fundamentals. Local occupancy across the neighborhood is about 94.0% with positive five-year momentum, reinforcing day-to-day leasing stability for multifamily operators.
Renter-occupied housing accounts for roughly 56.5% of neighborhood units, indicating a deep tenant pool and steady demand for professionally managed rentals. Median contract rents in the neighborhood track modestly above the metro median (competitive among Akron neighborhoods), supporting revenue consistency without relying on premium finishes. The rent-to-income ratio around 0.18 suggests manageable affordability that can aid retention and limit turnover pressure.
Livability features are mixed: park access trends above national norms (around the 72nd percentile), while cafes, childcare, and pharmacies are relatively sparse, which can make on-site conveniences and property management responsiveness more important to resident satisfaction. Median home values sit near the middle of U.S. neighborhoods, which can introduce some competition from ownership, but also keeps multifamily positioned as a more flexible option for many households—supporting occupancy and lease renewals.
Within a 3-mile radius, population expanded over the past five years while household counts grew faster, and projections show households continuing to increase even as population edges lower—pointing to smaller household sizes and a potential shift toward more rental demand. Education levels in the immediate neighborhood test well versus national norms (bachelor’s share near the upper percentiles), a positive indicator for income resilience and rent collections.
Safety outcomes are mixed relative to broader benchmarks. The neighborhood’s crime rank sits near the metro middle (84 out of 180), while national percentiles indicate it is below average compared with neighborhoods nationwide. Recent trends show property offenses declining year over year, while violent offenses ticked up, underscoring the importance of practical security measures and attentive management.
For investors, this profile suggests underwriting for proactive lighting, access control, and resident engagement can help maintain leasing stability, especially given otherwise solid neighborhood fundamentals. Always compare site-level incident records and recent trends to the submarket context before finalizing assumptions.
Proximity to regional employers supports commute convenience and renter demand, with a mix of utilities, manufacturing, rail operations, distribution, and industrial gases within a short drive. The list below reflects nearby anchors most likely to influence leasing and retention in this submarket.
- FirstEnergy — utilities (3.9 miles) — HQ
- Goodyear Tire & Rubber — tire manufacturing (6.4 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (13.8 miles)
- Home Depot Distribution Center — distribution & logistics (17.4 miles)
- Airgas Merchant Gases — industrial gases (18.8 miles)
Built in 1998, the asset is newer than the neighborhood’s average 1984 vintage, offering competitive positioning versus older stock while still leaving room for targeted modernization of interiors and building systems. Neighborhood occupancy of about 94.0% and a renter-occupied share around 56.5% point to a sizable, active tenant base that supports leasing durability and day-to-day cash flow management. According to CRE market data from WDSuite, area rents sit modestly above the metro median, aligning with a rent-to-income ratio near 0.18 that can help sustain retention.
Forward-looking signals are constructive but warrant measured assumptions. Within a 3-mile radius, households are projected to increase even as population trends slightly lower, implying smaller household sizes and continued reliance on rental options. Amenity density is thinner than urban cores, so on-site features and service quality can differentiate. Safety benchmarks sit near the metro middle and below national averages; underwriting should include sensible security investments and realistic marketing timelines.
- Newer 1998 vintage versus local stock, with potential value-add via selective modernization
- Neighborhood occupancy ~94% and strong renter concentration support leasing stability
- Rents modestly above metro norms with balanced affordability to aid retention
- 3-mile household growth and smaller household sizes imply a broader renter pool
- Risks: thinner amenity density and below-national safety percentiles require prudent operations