| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 35th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2577 Romig Rd, Akron, OH, 44320, US |
| Region / Metro | Akron |
| Year of Construction | 1987 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2577 Romig Rd Akron Multifamily Investment
Neighborhood renter demand is durable with improving occupancy at the area level, according to WDSuite’s CRE market data, positioning this asset for steady leasing fundamentals relative to nearby stock. A newer 1987 vintage versus much of the local inventory supports competitive positioning while leaving room for modernization.
Located in Akron’s Inner Suburb fabric, the property benefits from a renter-centric neighborhood profile. Renter-occupied housing share sits in the top quartile among 180 Akron neighborhoods and in a high national percentile, indicating a deep tenant base that supports demand stability for multifamily investors.
Neighborhood occupancy has improved over the past five years and is roughly in line with broad U.S. performance, supporting the case for steady lease-up and retention at the submarket level. Median rents in the neighborhood have risen materially over the last cycle, signaling pricing resilience; investors should underwrite in-place affordability and renewal strategies accordingly. For context, this area’s rent-to-income ratios indicate some affordability pressure, which calls for disciplined lease management rather than aggressive escalations.
Livability is mixed: grocery access is reasonable for daily needs, while cafes, parks, and pharmacies are comparatively limited. Against the Akron metro, overall neighborhood quality sits below the median among 180 neighborhoods, but the amenity mix is closer to the metro middle. This pattern typically aligns with workforce housing dynamics where convenience retail anchors demand more than lifestyle offerings. Nearby schools average is not reported; investors should evaluate school-driven demand at the asset level when targeting longer-term tenancy.
Within a 3-mile radius, recent years show softer population and household counts, but forward-looking projections indicate population growth and an increase in households by 2028. That combination points to a larger tenant base and supports occupancy stability if supply additions remain measured. As part of multifamily property research, WDSuite s CRE market data corroborates these directional trends at the neighborhood level rather than the property itself.
Vintage matters here: with a 1987 construction year versus older neighborhood averages, the asset should compete well against legacy stock while still benefiting from targeted upgrades (common areas, interiors, and building systems) to capture renovation-driven rent premiums.
Safety indicators for the neighborhood are below national benchmarks, and the area ranks in the lower half when compared with 180 Akron neighborhoods. That said, recent data show property offenses trending down year over year, which may help stabilize perceptions over time. Investors should reflect these comparative dynamics in underwriting for marketing, security measures, and retention planning.
Proximity to established employers creates a broad commuter base that supports workforce housing demand, particularly from utilities, manufacturing, insurance, and consumer goods. The following nearby employers anchor daily commutes and can aid retention.
- FirstEnergy — utilities (4.2 miles) — HQ
- Goodyear Tire & Rubber — tire manufacturing (5.5 miles) — HQ
- Erie Insurance Group — insurance (15.5 miles)
- J.M. Smucker — consumer foods (16.4 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (20.4 miles)
2577 Romig Rd offers scale for its submarket with a 1987 vintage that is newer than much of the surrounding housing stock, supporting competitive positioning against older assets while leaving room for value-add upgrades. Neighborhood-level data indicate high renter concentration and an improving occupancy backdrop, pointing to a resilient tenant base and steady leasing if pricing remains aligned with local incomes. Within a 3-mile radius, forward projections call for population growth and more households through 2028, which should expand the renter pool and support occupancy stability.
Balanced underwriting should account for mixed livability and below-average safety metrics at the neighborhood level, alongside signs of year-over-year improvement in property offenses. Based on commercial real estate analysis from WDSuite, investors can lean on directional rent growth and a strong renter base while planning targeted renovations and prudent affordability management to sustain retention.
- High renter concentration supports demand depth and lease stability
- 1987 vintage offers competitive positioning with value-add upside
- 3-mile forecasts point to population and household growth, expanding the renter pool
- Neighborhood rents trending upward; manage affordability to sustain renewals
- Risks: below-average safety and limited amenities; mitigate via security, curb appeal, and targeted upgrades