| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 27th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 184 Reid Ter, Akron, OH, 44310, US |
| Region / Metro | Akron |
| Year of Construction | 2002 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
184 Reid Ter Akron Workforce Multifamily Opportunity
Neighborhood occupancy has trended upward in recent years and remains near broader metro norms, supporting steady renter demand according to WDSuite’s CRE market data. This positioning favors durable cash flow potential for a professionally managed asset in Akron’s inner-suburb fabric.
The property sits in an Inner Suburb of Akron where grocery and park access score competitively versus many neighborhoods nationwide, while sit-down dining is average and café and pharmacy density are limited. These mixed amenity signals point to everyday convenience without premium retail concentrations, a backdrop that typically supports workforce-oriented leasing.
At the neighborhood level, median contract rents track below the national median (per WDSuite), and the share of housing units that are renter-occupied is elevated, indicating a deep tenant base for multifamily operators. For investors, a higher renter concentration often translates to consistent leasing velocity and a broader pipeline of prospects, though pricing power can be sensitive to local income trends.
Within a 3-mile radius, WDSuite’s data show households increased modestly over the last five years and are projected to expand further through 2028 alongside rising median incomes, which can support a larger tenant base and improve rent collections over time. Population is also projected to grow, while slightly smaller average household sizes suggest continued demand for smaller-format units and apartments.
The asset’s 2002 vintage is notably newer than the neighborhood’s older housing stock. That relative youth can enhance competitive positioning versus pre-war properties, while still leaving room for targeted modernization and systems updates to capture value-add upside and reduce near-term capital surprises.
When compared with the 180 neighborhoods across the Akron metro, this area sits below the metro median on safety, and it ranks in the lower quartile nationally based on WDSuite s benchmarking. Recent estimates point to year-over-year increases in both property and violent offenses, so underwriting should account for security measures and tenant screening, and pricing should reflect the comparative risk.
Investors often mitigate these dynamics with on-site visibility, lighting, and partnerships with local community resources. Evaluate trend direction and comparable submarkets to calibrate achievable rents and renewal expectations in line with the neighborhood s position.
Proximity to major employers underpins workforce housing demand and commute convenience, led by energy, manufacturing, logistics, and insurance operations including FirstEnergy, Goodyear, Norfolk Southern, Erie Insurance, and a Home Depot distribution facility.
- FirstEnergy utilities (1.1 miles) HQ
- Goodyear Tire & Rubber manufacturing (3.5 miles) HQ
- Norfolk Southern Motor Yard rail logistics (16.4 miles)
- Erie Insurance Group insurance (17.9 miles)
- Home Depot Distribution Center distribution (19.8 miles)
184 Reid Ter is a 42-unit, smaller-format multifamily asset in an Akron Inner Suburb where neighborhood occupancy has improved over the past five years and renter concentration is high, supporting depth of demand and steady leasing. The 2002 construction is newer than much of the surrounding housing, offering competitive appeal versus older stock with potential to capture value through targeted renovations and operating efficiencies. According to commercial real estate analysis from WDSuite, local rents sit below national norms, which aligns with workforce positioning but calls for disciplined revenue management tied to income trends.
Within a 3-mile radius, households are projected to grow through 2028 with rising median incomes, supporting renter pool expansion and occupancy stability. While ownership costs in the immediate neighborhood are relatively accessible, which can introduce competition from entry-level ownership options, the elevated share of renter-occupied housing suggests durable reliance on multifamily, particularly for well-located, professionally managed properties.
- Demand depth: high renter-occupied share supports consistent leasing and renewal pipelines.
- Competitive vintage: 2002 build outperforms older neighborhood stock with room for selective upgrades.
- Location fundamentals: everyday amenities with strong grocery and park access reinforce workforce positioning.
- Key risk: below-median safety and modest incomes require conservative underwriting on rents, expenses, and credit standards.