| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 78th | Best |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 710 White Pond Dr, Akron, OH, 44320, US |
| Region / Metro | Akron |
| Year of Construction | 1982 |
| Units | 101 |
| Transaction Date | 2002-01-30 |
| Transaction Price | $3,756,567 |
| Buyer | JEWISH SENIOR HOUSING OF AKRON |
| Seller | CENTER TOWERS |
710 White Pond Dr Akron Multifamily Investment
Neighborhood occupancy is high and stable, supporting leasing durability for a 101-unit asset in Akron, according to WDSuite s CRE market data. This positioning can help underpin cash flow resilience even as renters weigh nearby homeownership options.
710 White Pond Dr sits in an Akron neighborhood rated A- that is competitive among 180 metro neighborhoods and in the top quartile nationally for occupancy. Importantly, the neighborhood occupancy rate trends near the high end (rank 26 of 180; 87th percentile nationally), which investors typically associate with steadier lease-up and lower downtime versus weaker submarkets.
Schools score well for the neighborhood (average rating near 4.5/5; rank 10 of 180 and top quartile nationally), which can bolster long-term renter appeal. Daily-needs access is adequate with grocery and pharmacy presence around metro medians, while restaurant density sits around the middle of the national distribution; cafes and parks are thinner, which may limit lifestyle convenience relative to denser urban cores.
Construction vintage in this pocket averages 1974. The property s 1982 build is somewhat newer than the neighborhood stock, suggesting relatively competitive positioning versus older assets, though investors should still plan for systems modernization and common-area updates typical for 1980s multifamily. Median rents in the neighborhood sit below many national peers, and the rent-to-income picture points to manageable affordability pressure a dynamic that can support retention and reduce turnover risk.
Within a 3-mile radius, demographic data indicate a stable population base with modest recent household growth and projections for additional household increases by 2028, implying a larger tenant base and continued renter pool expansion. Owner- versus renter-occupied share in this radius is roughly two-thirds owner and one-third renter, signaling a meaningful but not saturated renter-occupied segment that can support consistent multifamily demand. These dynamics, combined with steady incomes and rent levels, align with pragmatic multifamily property research for long-term hold strategies.
Safety indicators are mixed in comparative terms. Versus the Akron metro, the neighborhood s crime rank sits on the higher-incident side (rank 28 of 180), while nationally it trends somewhat safer than average (around the 59th percentile). Recent trends show notable improvement in violent incidents, with one-year changes indicating meaningful declines and a stronger national standing for violent safety (around the 62nd percentile), according to WDSuite s CRE data.
For investors, the takeaway is to underwrite routine security measures and operational best practices while recognizing that recent momentum has been favorable. Always evaluate property-level history and management plans rather than relying solely on neighborhood aggregates.
Proximity to established employers supports renter demand across utilities, manufacturing, logistics, and corporate services. Notable nearby employers include FirstEnergy, Goodyear, Norfolk Southern, Erie Insurance, and J.M. Smucker each providing commute-friendly job centers that can aid leasing stability.
- FirstEnergy utilities & corporate services (3.9 miles) HQ
- Goodyear Tire & Rubber manufacturing & corporate offices (6.5 miles) HQ
- Norfolk Southern Motor Yard rail logistics operations (16.9 miles)
- Erie Insurance Group insurance services (19.1 miles)
- J.M. Smucker consumer foods & corporate offices (19.3 miles) HQ
This 101-unit, 1982-vintage asset benefits from a neighborhood with consistently high neighborhood occupancy and strong school ratings, supporting demand durability and family appeal. Being newer than the area s 1970s-heavy stock enhances competitive positioning, while typical 1980s systems may still warrant targeted capex for modernization and common-area refresh.
Within a 3-mile radius, recent household gains and projections for additional household growth through 2028 point to a larger tenant base and steady renter pool expansion. According to commercial real estate analysis from WDSuite, rent levels and rent-to-income dynamics in the neighborhood remain manageable relative to incomes, which can support retention and limit turnover. Counterbalancing factors include a relatively accessible ownership market locally and thinner café/park amenities, which merit conservative leasing assumptions.
- High neighborhood occupancy and strong schools support leasing stability
- 1982 vintage offers competitive edge versus older stock with value-add modernization potential
- 3-mile projections indicate household growth, expanding the tenant base through 2028
- Manageable rent-to-income conditions can aid retention and pricing discipline
- Risks: relatively accessible ownership options and limited lifestyle amenities may temper rent growth