| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 40th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 31 E Firestone Blvd, Akron, OH, 44301, US |
| Region / Metro | Akron |
| Year of Construction | 1981 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
31 E Firestone Blvd, Akron OH Multifamily Investment
Neighborhood occupancy trends are above the national median, supporting leasing stability for this 26-unit asset, according to WDSuite’s CRE market data. Metrics noted here reflect conditions in the surrounding neighborhood rather than property-level performance.
Located in Akron’s Inner Suburb, the property benefits from a neighborhood occupancy backdrop in the upper half nationally, which typically supports steadier rent rolls and fewer prolonged vacancies. Within a 3-mile radius, the renter pool is broad and projected to expand by 2028, which can deepen the tenant base and help sustain occupancy through cycles.
Daily-needs retail is a relative strength: grocery access ranks in the top decile nationally, and restaurant density is also competitive for the metro. By contrast, cafes, parks, and pharmacies are limited in the immediate area, which may reduce some lifestyle convenience but tends to align the submarket more with workforce housing demand than discretionary amenity seekers.
Tenure data indicates a meaningful renter presence in the neighborhood, with roughly four in ten housing units renter-occupied. For investors, that translates to a workable base of prospective tenants and demand stability for smaller formats. Median contract rents in the area sit near the national midpoint, while rent-to-income levels indicate manageable affordability pressure — a positive for retention and collections management.
Home values in the neighborhood are comparatively low versus national norms, which can create some competition from entry-level ownership and may temper pricing power. School quality scores trail national averages, an important consideration for family-oriented leasing strategies. The asset’s 1981 construction is newer than much of the local housing stock, providing a competitive edge versus older inventory, though systems and finishes may still benefit from targeted modernization.
Neighborhood safety indicators sit below national medians, with both violent and property offense rates elevated compared to many U.S. neighborhoods. Investors should underwrite appropriate security, lighting, and operating protocols and plan for leasing strategies that emphasize value and convenience.
Recent data points to improving momentum in property offenses year over year, suggesting some directional progress. As always, safety conditions can vary by block and over time; investors should validate current trends with local comps and operating partners.
Proximity to major employers underpins renter demand, with access to headquarters and regional offices that draw a diverse workforce. Notable employment nodes include tire manufacturing, utilities, insurance, packaged foods, and rail operations.
- Goodyear Tire & Rubber — tire manufacturing HQ (2.8 miles) — HQ
- FirstEnergy — utilities HQ (2.8 miles) — HQ
- Erie Insurance Group — insurance (14.3 miles)
- J.M. Smucker — packaged foods HQ (18.2 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (20.3 miles)
This 26-unit property offers exposure to an Akron submarket with occupancy levels above the national median and a sizable renter base, supporting day-one leasing stability. The 1981 vintage is relatively newer than much of the nearby housing stock, positioning the asset competitively against older alternatives while leaving room for targeted upgrades that can enhance rents and retention. Within a 3-mile radius, forecasts call for population and household growth through 2028, pointing to renter pool expansion that can support steady absorption.
Daily-needs access is a local advantage, with strong grocery and service proximity, while ownership costs remain relatively accessible in the neighborhood — a factor that may cap pricing power but can be offset by compact unit formats and value-forward positioning. According to CRE market data from WDSuite, rent levels align near national midpoints and rent-to-income suggests manageable affordability pressure, which supports collections and renewal strategies when managed actively.
- Occupancy above national median supports leasing stability and fewer prolonged vacancies.
- 1981 vintage offers competitive positioning versus older stock with value-add modernization potential.
- 3-mile forecasts show population and household growth through 2028, expanding the renter pool.
- Daily-needs retail access (notably grocery) supports convenience and retention for workforce renters.
- Risks: below-median safety metrics, modest school performance, and potential competition from entry-level ownership.