| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 320 Guys Run Rd, Akron, OH, 44319, US |
| Region / Metro | Akron |
| Year of Construction | 2005 |
| Units | 40 |
| Transaction Date | 2004-07-07 |
| Transaction Price | $100,000 |
| Buyer | SACRED HEART MANOR INC |
| Seller | DADICH PROPERTIES INC |
320 Guys Run Rd Akron Multifamily Investment
Neighborhood occupancy trends indicate steady renter demand, and renter concentration varies from about 27% at the neighborhood level to a deeper pool within the broader 3-mile area, according to WDSuite’s CRE market data. This positioning supports durable leasing while allowing for selective value-add to drive rent growth without overreliance on aggressive underwriting.
Located in a B+ rated, rural-edge pocket of Akron, the property benefits from stable occupancy at the neighborhood level and a broader 3-mile renter base that supports leasing continuity. Neighborhood occupancy trends are in the upper half nationally, and the local renter-occupied share is around 27% at the neighborhood level while the 3-mile radius reflects a higher renter concentration, implying a larger tenant base for multifamily operators.
Everyday amenities are mixed: restaurants and grocery access track in the upper third nationally, and parks and childcare density compare favorably, while cafes and pharmacies are limited. For investors, this suggests convenient essentials for residents with some discretionary categories less saturated—often consistent with workforce housing dynamics.
Vintage matters: with a 2005 construction year versus a neighborhood average around the mid-1970s, the asset competes well against older stock and may require targeted system updates or cosmetic upgrades rather than full-scale modernization. Average unit sizes near 380 square feet point to efficient layouts that can appeal to cost-aware renters and single-occupant households, supporting price-sensitive demand.
Within a 3-mile radius, demographics are aggregated and show recent population softness but a forward outlook that points to renewed growth and a notable increase in households. This implies a potential expansion of the renter pool alongside slightly smaller average household sizes—tailwinds for occupancy stability and lease-up in smaller-format units. Median contract rents remain accessible in context, and a low rent-to-income profile at the neighborhood level helps support retention, though it also underscores the importance of disciplined rent management.
Home values in the immediate area are relatively approachable compared with many U.S. markets, which can introduce some competition from ownership. For multifamily, this typically means focusing on convenience, professional management, and value-driven renovations to sustain pricing power and limit move-outs to ownership.
Safety indicators are mixed. Relative to the Akron metro’s 180 neighborhoods, the neighborhood’s rank points to higher crime incidence than many local peers, while national positioning sits roughly around the middle for violent offenses and weaker for property offenses. Recent trends are constructive: estimated violent offenses and property offenses both declined year over year, which, if sustained, can support resident retention and leasing stability. Investors should underwrite appropriate security measures and consider visibility, lighting, and property operations to mitigate risk.
Proximity to established employers underpins workforce demand and commute convenience for renters, notably in manufacturing, utilities, consumer goods, and insurance—supporting daytime population and leasing durability.
- Goodyear Tire & Rubber — manufacturing HQ (2.97 miles) — HQ
- FirstEnergy — utilities HQ (3.98 miles) — HQ
- Erie Insurance Group — insurance offices (12.93 miles)
- J.M. Smucker — consumer goods HQ (17.83 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (21.45 miles)
This 40-unit, 2005-vintage asset offers competitive positioning versus older neighborhood stock and benefits from steady neighborhood occupancy with nationally above-median standing. Based on CRE market data from WDSuite, the surrounding 3-mile area shows a larger renter-occupied share than the immediate neighborhood and forward projections that point to population growth and a sizable increase in households—conditions that can expand the tenant base and support occupancy stability. Smaller average unit sizes suggest a fit for value-oriented renters, with selective upgrades likely to translate efficiently into rent gains.
Affordability remains a core strength: neighborhood rent-to-income levels are favorable, aiding retention and smoothing lease management. At the same time, relatively approachable home values in the area can increase competition from ownership, putting a premium on professional operations and targeted renovations. Safety indicators have improved year over year but remain a monitoring point relative to some Akron peers—best addressed through proactive property management and on-site measures.
- 2005 construction offers a competitive edge versus older local stock, with targeted upgrades more likely than full-scale modernization.
- Steady neighborhood occupancy and a broader 3-mile renter base support leasing stability and absorption.
- Efficient unit sizes align with cost-conscious demand, enabling value-add renovations with controllable capex.
- Risk: homeownership remains relatively accessible locally, requiring strong management and amenities to preserve pricing power.
- Risk: safety is improving but still mixed versus metro peers; plan for security, lighting, and operations to support retention.