| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 53rd | Fair |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 Shadybrook Dr, Akron, OH, 44312, US |
| Region / Metro | Akron |
| Year of Construction | 1994 |
| Units | 20 |
| Transaction Date | 2012-08-09 |
| Transaction Price | $3,950,000 |
| Buyer | ELLET PARK APARTMENTS LLC |
| Seller | WOODFORD PROPERTIES LLC |
700 Shadybrook Dr Akron 20-Unit Multifamily Investment
Neighborhood occupancy remains solid and renter demand is supported by everyday conveniences and a balanced renter base, according to WDSuite s CRE market data. This asset offers 1994 construction in an inner-suburban location where stable fundamentals help underpin cash flow.
Located in an Inner Suburb of Akron, the neighborhood posts a B rating and shows steady renter demand with neighborhood occupancy trending above the national median (64th percentile), based on CRE market data from WDSuite. Within a 3-mile radius, the renter-occupied share is roughly one-third of housing units, which supports a consistent tenant base for multifamily while keeping exposure to turnover manageable.
Daily-needs access is a relative strength: grocery and pharmacy availability sit in the upper quartile nationally (around the 77th th to 79th percentiles), and restaurant density is competitive (87th percentile). By contrast, cafes and parks are limited compared with national norms, suggesting amenity-light green space and third-place options nearby. School quality trends below average nationally (around the 37th percentile on average ratings), which is worth noting for family-oriented leasing strategies.
The property s 1994 vintage is newer than the neighborhood s typical housing stock (average year built 1963). That relative youth can enhance leasing competitiveness versus older comparables, though investors should still underwrite routine modernization of building systems and common areas over the hold period.
Affordability indicators are supportive for retention: neighborhood rent-to-income sits favorably by national comparison (around the 70th percentile), and local home values are in a lower national percentile. In practice, this combination can sustain rental demand while moderating affordability pressure, aiding lease stability for workforce-oriented units. Average household sizes in the area trend larger nationally, which can align with this property s above-average unit sizes for renters seeking more space.
Safety signals are mixed compared with national benchmarks. Overall crime levels track below the national median for safety (around the 36th percentile), with violent and property offenses also in lower national percentiles. However, recent trend data show property offenses declining year over year, placing that improvement above the national midpoint, according to WDSuite. For investors, this suggests a market that warrants standard security and tenant-screening practices while benefiting from improving property-crime momentum.
Proximity to established employers supports a diversified renter pool and commute convenience, notably in manufacturing, utilities, insurance, rail operations, and consumer products. These anchors can reinforce leasing stability for workforce housing profiles in the submarket.
- Goodyear Tire & Rubber manufacturing (2.5 miles) HQ
- FirstEnergy utility (5.2 miles) HQ
- Erie Insurance Group insurance (13.4 miles)
- Norfolk Southern Motor Yard rail yard operations (20.8 miles)
- J.M. Smucker consumer foods (21.6 miles) HQ
This 20-unit property offers durable demand drivers for a small-balance multifamily hold. Neighborhood occupancy trends above the national median, and the area s renter concentration supports depth of the tenant base without excessive reliance on any one cohort. Within a 3-mile radius, households have been relatively steady with projections indicating more households despite flat-to-declining population, implying smaller household sizes and a potentially larger renter pool over time. According to CRE market data from WDSuite, rents and incomes are set to grow from current levels, which can support stable pricing while keeping rent-to-income within manageable ranges for retention.
Built in 1994, the asset is newer than much of the surrounding stock, which can translate to competitive positioning versus older comparables. Investors should still budget for targeted modernization and system updates appropriate for a mid-1990s vintage. The location benefits from strong daily-needs access (grocery/pharmacy) and proximity to major employers, while softer school ratings and limited parks/cafe options are considerations for resident mix and marketing strategy.
- Neighborhood occupancy above national median supports cash-flow stability
- 1994 construction offers competitive positioning versus older area stock
- 3-mile household growth projections point to a larger renter pool over time
- Strong access to grocery, pharmacy, restaurants and nearby employers aids retention
- Risks: below-average national safety benchmarks and limited parks/cafes warrant underwriting for security and marketing