| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 33rd | Poor |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 370 Elson Ave, Barberton, OH, 44203, US |
| Region / Metro | Barberton |
| Year of Construction | 2000 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
370 Elson Ave Barberton Multifamily Investment
Renter demand is supported by high neighborhood renter-occupied share and proximity to major Akron employers, according to WDSuite’s CRE market data. Expect competitive positioning for a 2000-vintage asset against older local stock, with attention to retention and leasing management.
Barberton’s inner-suburb setting offers everyday conveniences more than destination amenities. Pharmacies are strong relative to national peers (top quintile nationally), while groceries are around the national middle; restaurants track near the U.S. median. Parks, cafés, and childcare options are limited within the neighborhood. Average school ratings trend below national norms, which may influence family-driven demand profiles but does not preclude stable workforce housing.
The neighborhood’s renter-occupied share is high (ranked 18 out of 180 within the Akron metro and 92nd percentile nationally), signaling a deep tenant base for multifamily investors. By contrast, neighborhood occupancy sits below the national midpoint and has softened over the past five years, suggesting the need for targeted leasing, unit readiness, and competitive positioning to sustain absorption.
Demographic statistics aggregated within a 3-mile radius show a recent population dip alongside a modest increase in households, indicating smaller household sizes and a shift toward more, smaller households entering the market. Forward-looking estimates point to population and household growth by 2028, which should expand the renter pool and support occupancy stability if product quality and pricing align with local expectations.
Home values in the neighborhood sit on the lower end versus national peers, which can introduce some competition from ownership options. However, rent-to-income metrics around the national midpoint imply manageable affordability pressure, supporting lease retention where amenities and unit finishes meet value expectations. Notably, the property’s 2000 construction is newer than the neighborhood’s older housing stock (average vintage mid-1950s), offering a relative edge versus legacy assets while still planning for system updates typical of a 25-year-old building.
Safety indicators are mixed and should be contextualized. Within the Akron metro, the neighborhood ranks in the lower tier for safety (rank 15 of 180, where lower ranks indicate higher crime), warranting prudent property-level security measures and resident engagement. Nationally, however, the area performs above midrange overall, with property offense estimates trending in the Top quartile nationally and showing a notable year-over-year decline, while violent-offense readings, despite landing in an above-average national percentile, have shown volatility in recent estimates. Investors should track trend direction rather than any single-year datapoint.
Proximity to Akron-area corporate anchors supports workforce housing demand and commute convenience for residents. Key employment nodes within a roughly 7–22 mile radius include utilities, manufacturing, consumer products, and insurance offices.
- FirstEnergy — utilities (7.2 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (7.6 miles) — HQ
- Erie Insurance Group — insurance (13.3 miles)
- J.M. Smucker — consumer products (13.4 miles) — HQ
- International Paper Company — paper & packaging (21.6 miles)
370 Elson Ave is a 70-unit, 2000-vintage asset that competes favorably against Barberton’s older housing stock. The neighborhood exhibits a high renter-occupied share, proximity to major employers, and household growth projected within a 3-mile radius—factors that expand the tenant base and can support occupancy stability with disciplined leasing and unit positioning. According to CRE market data from WDSuite, neighborhood occupancy trends sit below the national midpoint, so execution around pricing, renewals, and turn efficiency will be central to performance.
Affordability sits around the national middle on rent-to-income metrics, while comparatively lower local home values can create some competition from ownership. The property’s relative youth offers an operational edge versus older comparables, though investors should budget for modernization of aging systems and targeted amenity upgrades to drive retention. Safety indicators are mixed—strong on national property-crime comparisons but weaker within the metro—so property-level practices and resident services can be important levers.
- Newer 2000 vintage versus older neighborhood stock supports competitive positioning
- High renter-occupied share indicates depth of tenant demand
- Proximity to Akron corporate anchors underpins leasing and retention
- Forecast household growth within 3 miles expands the renter pool
- Risks: softer neighborhood occupancy trend, limited amenities, and mixed safety signals