| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 63rd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 273 Mallard Point Dr, Coventry Township, OH, 44319, US |
| Region / Metro | Coventry Township |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
273 Mallard Point Dr, Coventry Township OH — Investment Property Outlook
Neighborhood fundamentals point to stable renter demand and steady occupancy at the area level, according to WDSuite’s CRE market data. The nearby submarket’s occupancy is strong for the neighborhood and has trended upward, supporting durable income profiles for well-managed assets.
This Inner Suburb of the Akron, OH metro scores A- overall and ranks 29 out of 180 metro neighborhoods, placing it in the top quartile among Akron peers for overall balance of livability and housing dynamics. Amenity access is a relative strength: neighborhood amenity ranking is 18 of 180 (top quartile), with grocery and cafe densities comparing favorably to many suburban locations. Park access is limited, which may modestly reduce lifestyle appeal for some renter segments but does not appear to weigh on occupancy.
Neighborhood occupancy stands at 95.8% and has improved over the last five years; this figure reflects the broader neighborhood rather than this specific property. Renter-occupied share is about one-third of units locally (36% at the neighborhood level), which is above the metro median, signaling a meaningful tenant base for small and mid-size assets and helping support leasing stability through typical cycles.
Relative affordability underpins demand. Neighborhood median contract rent is mid-pack for the metro and has risen over the past five years, while the rent-to-income ratio remains near the national middle, a combination that supports retention and measured pricing power for operators. Median home values are lower than many national peers, which can introduce some competition from ownership options; however, this tends to sustain renter interest in quality, well-located units offering convenience and professional management.
Schools average around 3.0 out of 5 and rank 27 of 180 in the metro (top quartile), which can aid family-oriented leasing. Demographic statistics aggregated within a 3-mile radius show recent softness in population and households but a forward outlook that points to population growth and an increase in households by the next five-year window—factors that would expand the local renter pool if realized.
Safety indicators are mixed when viewed against metro and national comparatives. The neighborhood’s crime rank is 42 out of 180 Akron neighborhoods (lower ranks indicate more reported crime), putting it below the metro median from a safety standpoint, while national percentiles are near the middle of the pack. For investors, this suggests typical suburban risk management practices are appropriate, with property-level security and lighting standards helping support resident retention.
Trend data are nuanced: property offenses are estimated to have declined year over year, while violent offense rates sit near the national middle but showed a recent uptick from a low base. Monitoring local policing updates and maintaining consistent on-site protocols can help sustain leasing performance without materially altering underwriting assumptions.
Proximity to anchor employers across manufacturing and utilities supports a steady commuter tenant base and reinforces retention for workforce-oriented units. Notable employers within a commutable radius include Goodyear, FirstEnergy, Erie Insurance, and J.M. Smucker.
- Goodyear Tire & Rubber — manufacturing HQ (4.3 miles) — HQ
- FirstEnergy — utilities HQ (5.0 miles) — HQ
- Erie Insurance Group — insurance offices (12.4 miles)
- J.M. Smucker — consumer packaged goods HQ (16.5 miles) — HQ
Built in 2002, the asset is newer than the neighborhood’s average vintage, which can reduce near-term capital expenditure exposure and improve competitive positioning versus older local stock; selective modernization may still be warranted to meet renter preferences. At the neighborhood level, occupancy is strong and trending upward, and renter-occupied share above the metro median indicates a dependable tenant base. According to CRE market data from WDSuite, amenity access compares well within the metro, while school quality ranks in the top quartile locally—both supportive of lease-up and retention.
Key considerations include a high-cost ownership market not being the primary driver here; relatively accessible home values can create competition from ownership, and park access is limited. Safety indicators sit around the national middle with mixed near-term trends, warranting standard risk controls. Demographic statistics aggregated within a 3-mile radius point to projected population growth and an increase in households over the next five years, which would expand the renter pool and support occupancy stability if realized.
- 2002 vintage offers relative competitiveness vs. older neighborhood stock with targeted value-add potential
- Neighborhood occupancy is strong and rising, supporting income durability at the area level
- Amenity access and top-quartile local school ranking aid leasing and retention
- Projected 3-mile population and household growth could expand the tenant base
- Risks: ownership competition given accessible home values, limited park access, and mid-pack safety trends