| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Poor |
| Demographics | 42nd | Fair |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2601 Shoreline Dr, Akron, OH, 44314, US |
| Region / Metro | Akron |
| Year of Construction | 1974 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2601 Shoreline Dr Akron Multifamily Investment
Renter demand is supported by nearby employment and relatively moderate rent-to-income dynamics, according to WDSuite’s CRE market data. The asset’s sub-1970s vintage can offer value-add angles while remaining competitive against older neighborhood stock.
Located in a suburban Akron setting, the neighborhood rates above the metro median (ranked 131 of 180) with a C neighborhood rating, per WDSuite. Grocery access is a relative strength (around the 75th percentile nationally), and parks are also a bright spot (near the top quartile nationally), while cafes and pharmacies are limited, signaling a more utilitarian amenity mix. Average school ratings in the area trend below national norms, which may influence family-oriented leasing strategies.
The property s 1974 construction is newer than the neighborhood s average vintage (1957). For investors, that typically means a more competitive baseline versus older housing stock, though system upgrades and targeted renovations should still be evaluated for modernization and energy efficiency.
Neighborhood-level occupancy sits in a lower band relative to national benchmarks (about the 15th percentile), suggesting the need for disciplined leasing and retention playbooks. At the same time, rents in the area remain comparatively accessible and the rent-to-income profile is balanced, which can support tenant retention and reduce turnover risk.
Within a 3-mile radius, demographic statistics show past population contraction but a projected increase in households over the next five years, indicating potential renter pool expansion. A renter-occupied share near two-fifths within this radius suggests a meaningful tenant base for small and mid-size multifamily, while the neighborhood s renter concentration (share of renter-occupied units) is lower, implying demand may be more sensitive to product quality and pricing.
Home values in the neighborhood track well below national levels, reflecting a more accessible ownership market. For multifamily investors, this can introduce competition with entry-level ownership; however, accessible rents and proximity to major employers can help sustain occupancy stability and leasing velocity.
Safety trends are mixed in this Akron neighborhood. Compared with neighborhoods nationwide, recent violent and property offense rates sit in lower national percentiles, while the metro rank places the area as competitive among Akron neighborhoods (rank 59 out of 180). Importantly, year-over-year estimates point to improving conditions with declines in both violent and property offenses, indicating a constructive directional trend.
Investors should underwrite with conservative assumptions and focus on security-forward operations (lighting, access control, resident engagement) that align with the area s improvement trajectory rather than relying solely on historical averages.
Proximity to large employers supports a steady renter base and commute convenience, notably from FirstEnergy, Goodyear Tire & Rubber, Erie Insurance Group, J.M. Smucker, and Norfolk Southern. This mix of utilities, manufacturing, insurance, consumer goods, and logistics underpins workforce housing demand and can aid retention.
- FirstEnergy utilities (4.3 miles) HQ
- Goodyear Tire & Rubber manufacturing (4.7 miles) HQ
- Erie Insurance Group insurance (14.0 miles)
- J.M. Smucker consumer goods (16.4 miles) HQ
- Norfolk Southern Motor Yard logistics (21.4 miles)
Built in 1974, this 28-unit Akron asset is newer than the surrounding neighborhood average and could benefit from focused value-add, particularly in systems and interiors, to sharpen competitive positioning versus older stock. According to CRE market data from WDSuite, the local amenity set favors essentials (notably groceries and parks), and the rent-to-income profile suggests room for disciplined pricing without overextending affordability.
Neighborhood occupancy trends warrant conservative lease-up and renewal assumptions, yet proximity to major employers and projected household growth within a 3-mile radius point to a durable tenant base. Investors should balance the opportunity for renovation-driven NOI gains with cautious underwriting around leasing velocity and hold periods.
- 1974 vintage offers value-add and modernization upside versus older neighborhood stock
- Essential amenities strong for groceries and parks, aiding daily-living appeal
- Employer proximity supports renter demand and lease retention
- Balanced rent-to-income dynamics support prudent pricing power
- Risks: below-average neighborhood occupancy and a low-cost ownership market may temper rent growth; underwrite leasing and retention conservatively