| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 43rd | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2878 Mogadore Rd, Akron, OH, 44312, US |
| Region / Metro | Akron |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2878 Mogadore Rd Akron Multifamily Investment Potential
Neighborhood occupancy trends sit above the national median, supporting leasing stability for a 1970s vintage asset, according to WDSuite’s CRE market data. Modest renter concentration suggests steady but targeted demand from local workforce households.
Situated in Akron’s inner-suburban east side, the neighborhood shows mid-pack performance locally (ranked 132 among 180 Akron neighborhoods) with a top-half nationally occupancy profile. Neighborhood occupancy is in the 65th percentile nationwide, indicating generally solid tenant retention, while local standing suggests performance comparable to many Akron submarkets.
Livability is anchored by everyday conveniences rather than lifestyle amenities. Grocery access is competitive for the metro and in the upper third nationally, while restaurants are similarly represented; cafés, parks, and childcare options are limited in immediate proximity. Average school ratings trend below the national midpoint, an important consideration for family-oriented renter segments.
Rents in the neighborhood track near national medians and below many coastal markets, reinforcing a value position that can aid renewal rates and reduce turnover costs. With renter-occupied housing around one-quarter to one-third of units locally, the tenure mix points to a stable but not oversupplied renter pool—supportive of occupancy yet requiring disciplined leasing and product differentiation. This context aligns with data-driven commercial real estate analysis that emphasizes demand depth over short-term growth narratives.
Within a 3-mile radius, population has softened modestly over the past five years while household counts edged higher, suggesting smaller average household sizes and a gradual broadening of the renter base. Forward-looking estimates indicate continued increases in households and incomes alongside smaller households, which typically supports multifamily absorption and sustained occupancy.
Vintage context: the property’s 1973 construction is newer than the area’s average housing vintage (1960s era). That positioning can enhance competitiveness versus older stock, though investors should underwrite for aging systems and selective modernization to meet current renter expectations.
Safety indicators for the neighborhood are roughly around the national midpoint overall, placing it near average compared with neighborhoods nationwide. Within the Akron metro, it sits in a higher-incident tier relative to many peer neighborhoods, so prudent operating practices and security-forward common-area design may support resident satisfaction.
Trend-wise, both violent and property incident rates have improved year over year, with reductions that rank as notable improvements compared with nationwide patterns. While conditions can vary block to block, the directional trend provides a constructive backdrop for long-term operations.
Proximity to established corporate employers underpins a steady workforce renter base and commute convenience. Notable nearby nodes include Goodyear Tire & Rubber, FirstEnergy, Erie Insurance Group, Home Depot Distribution Center, and J.M. Smucker.
- Goodyear Tire & Rubber — corporate offices (2.6 miles) — HQ
- FirstEnergy — corporate offices (5.1 miles) — HQ
- Erie Insurance Group — corporate offices (14.5 miles)
- Home Depot Distribution Center — distribution (22.5 miles)
- J.M. Smucker — corporate offices (22.6 miles) — HQ
This 20-unit, 1973-vintage property offers a pragmatic balance of stability and value-add potential. Neighborhood occupancy trends are above the national median, a constructive backdrop for cash flow management, while moderate local renter concentration implies a durable but targeted demand base. According to CRE market data from WDSuite, nearby home values are comparatively accessible, which can temper pricing power but also supports retention through manageable rent-to-income levels.
Competitive grocery and restaurant access, proximity to major employers, and a 3-mile demand profile showing rising household counts with smaller sizes point to a steady renter pipeline. Given the vintage, capital plans aimed at systems modernization and selective interior updates can improve positioning versus older area stock without overcapitalizing.
- Occupancy above the national median supports leasing stability
- 1973 vintage newer than neighborhood average, with clear modernization upside
- Workforce demand supported by nearby corporate employers and commute convenience
- Household growth and smaller sizes within 3 miles expand the renter pool
- Risk: accessible homeownership locally can temper rent growth; focus on retention and operational efficiency