| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 32nd | Poor |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 715 E Waterloo Rd, Akron, OH, 44306, US |
| Region / Metro | Akron |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
715 E Waterloo Rd Akron Multifamily Investment
Positioned near major Akron employers, this 36-unit asset offers workforce renter demand and value-add potential, according to WDSuite’s CRE market data. The neighborhood’s accessible rents support retention while targeted upgrades can enhance competitiveness against older area stock.
The property sits in an Inner Suburb of Akron with everyday conveniences close by. Neighborhood amenities lean practical: grocery access ranks strong (3 of 180 metro neighborhoods; 96th percentile nationally), and restaurants density is above average (77th percentile nationally), while cafes, parks, and pharmacies are limited locally. For investors, this mix supports daily living needs and reduces car trips for essentials, but on-site community features may help offset lighter lifestyle options nearby.
Neighborhood occupancy is on the softer side (ranked 156 out of 180 metro neighborhoods), so asset management and leasing execution matter. At the same time, renter-occupied housing concentration is competitive among Akron neighborhoods (46 of 180), indicating a meaningful tenant base for multifamily operators. Median contract rents in the neighborhood remain accessible and the rent-to-income ratio around 0.18 suggests moderated affordability pressure, which can aid lease retention and reduce turnover risk.
Within a 3-mile radius, demographics show modest population contraction over the last five years with smaller average household sizes, yet projections point to an increase in households over the next five years. A larger household count with smaller household sizes typically supports renter pool expansion and can help stabilize occupancy for well-managed assets.
The building’s 1973 vintage is newer than the neighborhood’s average construction year (1956). That positioning can be advantageous versus older local stock, while still leaving room for selective renovations or system upgrades to improve rentability and operating efficiency.
Relative to Akron, the neighborhood’s crime rank (71 out of 180 metro neighborhoods) indicates higher incident levels than many peers. Compared with neighborhoods nationwide, safety sits below average (national percentiles for violent and property offenses are low), though recent year-over-year estimates show double-digit declines in both violent and property offenses, suggesting improving trends. Investors typically account for this with enhanced property management practices, lighting, and access controls appropriate to the submarket context.
Nearby anchors include Goodyear Tire & Rubber, FirstEnergy, Erie Insurance Group, and J.M. Smucker. This employment base supports workforce housing demand and commute convenience that can aid leasing and retention.
- Goodyear Tire & Rubber — tire manufacturing (2.4 miles) — HQ
- FirstEnergy — electric utility (3.8 miles) — HQ
- Erie Insurance Group — insurance (13.0 miles)
- J.M. Smucker — packaged foods (18.4 miles) — HQ
715 E Waterloo Rd pairs workforce-oriented demand drivers with value-add potential. Built in 1973, the property is newer than much of the surrounding housing stock and can compete effectively with selective renovations. Neighborhood rents remain accessible and the renter-occupied housing share is competitive within the Akron metro, supporting a meaningful tenant base. Proximity to major employers strengthens leasing fundamentals, while strong grocery access adds day-to-day convenience. According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, placing a premium on disciplined leasing, unit turns, and resident services to support stability.
Key considerations include safety that trends below national averages and a local ownership market with relatively low home values that may create some competition for entry-level buyers. Execution focused on curb appeal, security, and targeted in-unit upgrades can differentiate the asset and help capture rent growth consistent with submarket positioning.
- 1973 vintage offers value-add upside versus older neighborhood stock
- Workforce demand supported by proximity to Goodyear, FirstEnergy, and other employers
- Accessible rents and competitive renter concentration support tenant retention
- Strong grocery access; restaurants density above national average for daily convenience
- Risks: softer neighborhood occupancy and below-average safety require focused management