| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 35th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 899 Rosamond Ave, Akron, OH, 44307, US |
| Region / Metro | Akron |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
899 Rosamond Ave Akron Multifamily Value-Add Opportunity
Renter concentration in the surrounding neighborhood supports a stable tenant base, according to WDSuite’s CRE market data, positioning this asset for steady demand with potential to enhance performance through targeted upgrades.
Situated in Akron’s inner-suburban fabric, the neighborhood rates C+ and sits below the metro median overall (rank 126 of 180), yet several local dynamics support everyday livability for renters. Grocery access is competitive among Akron neighborhoods (rank 57 of 180), while restaurant density is near the metro middle; cafe options and park access are limited, suggesting amenity improvements nearby could further enhance resident appeal over time.
Neighborhood occupancy is near the national midpoint and has trended upward over the past five years, indicating reasonably durable demand. The share of housing units that are renter‑occupied is elevated for the metro, signaling depth in the tenant pool and supporting leasing continuity for multifamily assets.
Within a 3‑mile radius, recent years show modest population softness alongside smaller household sizes, but forward-looking projections indicate population growth and a substantial increase in households by 2028. That trajectory points to a larger tenant base and potential support for occupancy stability and lease-up velocity as new households enter the market, based on CRE market data from WDSuite.
The property’s 1978 vintage is newer than the neighborhood’s older housing stock (average 1963), which can be competitively advantageous versus aging buildings. Investors should still plan for system modernization and value‑add upgrades to meet renter expectations and to drive rent positioning relative to comparable assets.
Ownership costs in the area are relatively low compared with many U.S. markets, which can create some competition from entry-level ownership options. At the same time, rent-to-income ratios indicate pockets of affordability pressure, suggesting attention to rent growth pacing and renewal strategies to sustain retention and minimize turnover risk.
Safety trends in this neighborhood compare weaker than both the Akron metro average and national norms (overall crime ranking 98 out of 180 metro neighborhoods; lower ranks indicate higher crime). Nationally, the area sits in a lower safety percentile, so underwriting should incorporate prudent assumptions for security measures and operating practices.
Recent momentum is mixed: estimated property offenses have declined year over year, while violent offenses show a modest uptick. For investors, this points to the importance of on-site management, lighting and access control, and resident engagement to support retention and protect NOI.
Proximity to major employers supports workforce housing demand and commute convenience, notably from utilities, manufacturing, and consumer goods headquarters reflected below.
- FirstEnergy — utilities (2.7 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (4.3 miles) — HQ
- Erie Insurance Group — insurance (16.1 miles)
- J.M. Smucker — consumer goods (18.0 miles) — HQ
- Norfolk Southern Motor Yard — transportation (19.2 miles)
This 24‑unit, 1978 multifamily asset offers a pragmatic value‑add path in an inner‑suburban Akron location with an established renter base and occupancy near national midpoints. The building is relatively newer than much of the surrounding stock, creating a runway for targeted renovations and system upgrades to improve competitiveness against older comparables. According to CRE market data from WDSuite, renter concentration is high at the neighborhood level, which supports demand depth and leasing continuity.
Near-term operations should balance rent positioning with affordability considerations as rent-to-income ratios signal pressure for some households. Within a 3‑mile radius, projections point to population growth and a meaningful increase in households over the next five years, which could expand the tenant base and support occupancy stability, while proximity to anchor employers adds retention and leasing advantages.
- High renter concentration supports a deeper tenant pool and leasing continuity
- 1978 vintage allows value‑add upgrades to outcompete older nearby assets
- 3‑mile projections show growing households, reinforcing demand and occupancy stability
- Employer proximity (utilities, manufacturing, consumer goods) supports workforce housing demand
- Risks: lower relative safety metrics and affordability pressure call for disciplined security and rent management