| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 26th | Poor |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 285 N Howard St, Akron, OH, 44304, US |
| Region / Metro | Akron |
| Year of Construction | 2009 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
285 N Howard St, Akron OH Multifamily Opportunity
Renter concentration in the neighborhood is high, supporting a deeper tenant base and steady lease-up potential, according to WDSuite’s CRE market data.
Located in Akron’s inner-suburb fabric, the property sits in a neighborhood rated C+ where renter-occupied housing is prevalent. The neighborhood’s renter concentration ranks 8 out of 180 metro neighborhoods—top quartile locally—indicating depth for multifamily demand and a larger pool of prospective tenants. Neighborhood occupancy is in the mid-range for Akron with modest improvement over the past five years, supporting baseline stability rather than outsized pricing power.
Daily needs and lifestyle amenities are competitive among Akron neighborhoods. Cafes (rank 7 of 180) and groceries (rank 21 of 180) both land in the top quartile locally, while park access is also comparatively strong (rank 38 of 180). Childcare and pharmacies are thinner in the immediate area, so residents may rely on nearby submarkets for those services. Average school ratings are low for the neighborhood relative to national peers, which may temper appeal for some family households.
The asset’s 2009 vintage is notably newer than the neighborhood’s older housing stock (average year 1950). For investors, that positioning can enhance competitiveness versus legacy properties and may moderate near-term capital needs, while still leaving room for selective modernization to support retention and rent trade-outs.
Within a 3-mile radius, demographics show a stable base with recent softness in population but an expected return to growth by 2028 alongside a projected increase in households. That forecasted household expansion points to renter pool expansion and supports occupancy stability. Median contract rents remain relatively accessible, and a rent-to-income profile in this neighborhood suggests manageable affordability pressure—helpful for renewal retention, though the area’s low home values imply some competition from ownership options.
Safety outcomes here track below national averages, while sitting around the middle of the pack among Akron neighborhoods (rank 95 of 180). According to WDSuite’s data, recent year-over-year trends point to incremental improvement, with both property and violent offense rates edging down. Investors typically treat this as a management and operating focus—lighting, access control, and partnerships with local resources—rather than a structural barrier.
In short, the area does not score in top-quartile safety nationally, but the direction of change has been modestly favorable. Underwriting should account for security line items and monitoring, with the expectation that operational best practices can support resident satisfaction and retention.
Proximity to regional employers underpins workforce housing demand and commute convenience for residents. The immediate area draws from utilities, manufacturing, rail logistics, insurance, and distribution—supporting leasing durability across economic cycles.
- FirstEnergy — utilities HQ (0.7 miles) — HQ
- Goodyear Tire & Rubber — manufacturing HQ (3.1 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (16.8 miles)
- Erie Insurance Group — insurance offices (17.5 miles)
- Home Depot Distribution Center — distribution (20.1 miles)
This 40-unit, 2009-vintage asset competes favorably against older neighborhood stock, offering relative quality that can support leasing and moderate capital planning. The surrounding neighborhood shows high renter concentration (top quartile among 180 Akron neighborhoods), which points to a deeper tenant base and supports occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy has trended modestly higher over five years, while median rents remain accessible—conditions that can aid renewal rates, though they may cap near-term pricing power.
Within a 3-mile radius, forecasts indicate population and household growth over the next five years, signaling a larger renter pool and reinforcing demand for multifamily units. Balanced against this, low local home values suggest some competition from entry-level ownership, and safety scores sit below national norms—factors to address through targeted operations and resident experience initiatives.
- 2009 construction offers competitive positioning versus older stock with selective value-add potential
- High renter-occupied share (top quartile locally) supports depth of tenant demand
- Neighborhood occupancy improved over five years, aiding baseline stability
- 3-mile forecasts show population and household growth, pointing to renter pool expansion
- Risks: below-average safety and competitive pressure from accessible homeownership; underwrite for security and lease management