| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 53rd | Fair |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2360 E Market St, Akron, OH, 44312, US |
| Region / Metro | Akron |
| Year of Construction | 1978 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2360 E Market St, Akron Multifamily Investment
Neighborhood fundamentals point to steady renter demand and mid-90s occupancy at the neighborhood level, according to WDSuite s CRE market data. With a 1978 vintage and compact units, the asset lends itself to targeted value-add to enhance competitiveness versus older local stock.
Set within Akron s Inner Suburb, the area carries a B neighborhood rating and ranks 69 out of 180 metro neighborhoods competitive among Akron neighborhoods. Neighborhood occupancy is above the national median and has been relatively steady, supporting baseline leasing stability for workforce-oriented product.
Daily-needs access is a relative strength: neighborhood grocery and pharmacy density scores in the upper national percentiles, and restaurant options are robust. By contrast, parks and cafes are limited, and average school ratings sit below national medians factors to consider for family-oriented positioning.
Vintage matters for competitive posture. The property s 1978 construction is newer than the neighborhood s average 1960s housing stock, suggesting a manageable path to modernize systems and finishes for rent lift while remaining price-sensitive. Within the neighborhood, the share of renter-occupied housing indicates a moderate renter concentration; within a 3-mile radius, demographics show roughly one-third of units renter-occupied, signaling a meaningful tenant base without excessive turnover risk.
Within a 3-mile radius, the population has edged down over five years and is projected to contract modestly, yet household counts have grown and are expected to rise further as average household size declines. This shift typically expands the renter pool and supports occupancy stability for smaller-format units. Home values are comparatively accessible for owners in this part of Summit County, which can introduce some competition with entry-level ownership. At the same time, rent-to-income levels indicate manageable affordability pressure a backdrop that can aid lease retention and measured pricing power for well-positioned product, based on CRE market data from WDSuite.
Safety indicators for the neighborhood are below national medians and sit on the less favorable side of the Akron metro peer set (ranked 79th among 180 neighborhoods). Nationally, the area falls below mid-pack safety percentiles. Recent trends are mixed: estimated property offenses declined year over year, while estimated violent offenses increased. Investors should underwrite to prudent security measures and tenant screening, and monitor trend direction at the neighborhood level rather than block-by-block assumptions.
Proximity to established employers underpins local renter demand and commute convenience, notably in manufacturing, utilities, insurance, rail operations, and consumer goods. Nearby anchors include Goodyear, FirstEnergy, Erie Insurance, Norfolk Southern, and J.M. Smucker.
- Goodyear Tire & Rubber manufacturing HQ (1.7 miles) HQ
- FirstEnergy utilities HQ (4.3 miles) HQ
- Erie Insurance Group insurance offices (14.4 miles)
- Norfolk Southern Motor Yard rail operations (19.7 miles)
- J.M. Smucker consumer packaged goods HQ (21.9 miles) HQ
This 27-unit, 1978-vintage property offers a value-add angle in an Inner Suburb location where neighborhood occupancy trends sit above national medians. Compact average unit sizes (around 400 sq ft) align with demand for efficient, attainably priced rentals, and newer-vs-neighborhood vintage provides a platform for targeted upgrades that can raise competitive standing against older stock. According to commercial real estate analysis from WDSuite, local amenity access for daily needs is a relative advantage, while schools and greenspace are more limited useful context for positioning and tenant targeting.
Macro signals within a 3-mile radius point to stable renter demand despite modest population contraction: households are increasing as household sizes shrink, which can expand the renter pool for smaller units. Ownership costs are comparatively accessible, so underwriting should account for some competition with first-time buying; however, rent-to-income levels suggest manageable affordability pressure that can support retention and steady occupancy for renovated product.
- Occupancy at the neighborhood level sits above national medians, supporting baseline leasing stability.
- 1978 vintage with smaller-format units offers clear value-add and repositioning potential versus older local stock.
- Solid access to groceries, pharmacies, and restaurants benefits everyday convenience and tenant retention.
- Household growth with smaller household sizes in the 3-mile area supports a larger renter pool for studios and 1-bedrooms.
- Risks: below-median safety metrics, softer school ratings, and potential competition from entry-level ownership warrant conservative underwriting.