| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 63rd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 399 Portage Lakes Dr, Coventry Township, OH, 44319, US |
| Region / Metro | Coventry Township |
| Year of Construction | 1983 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
399 Portage Lakes Dr Coventry Township Multifamily Investment
Neighborhood occupancy is strong and has trended upward, supporting stable collections and lease retention, according to WDSuite’s CRE market data. This submarket’s steady renter demand offers a pragmatic backdrop for value-add or hold strategies.
Coventry Township’s neighborhood context is competitive among Akron neighborhoods, with an A- rating and a rank of 29 out of 180 within the metro. Renter demand is supported by a neighborhood occupancy level that sits in the top quartile nationally, indicating resilient leasing fundamentals rather than late-cycle volatility.
Daily needs are relatively convenient: grocery and pharmacy access track above national averages, and cafes and restaurants are better represented than in many peer areas. While park access is limited at the neighborhood level, the inner-suburb setting balances proximity to jobs with suburban livability—an appealing mix for workforce renters.
For investors, the tenure mix points to a moderate renter base at the neighborhood level (roughly one-third of housing units are renter-occupied), which supports depth of demand without being oversupplied. Within a 3-mile radius, demographic statistics show a stable population and a slight projected increase in households over the next five years, implying a larger tenant base even as average household size trends lower.
The property’s 1983 vintage is newer than the neighborhood’s average construction year (1964). That positioning can help competitiveness versus older stock, though investors should still plan for selective system upgrades or cosmetic improvements to meet current renter expectations. Home values in the area are relatively accessible by national standards, which can introduce some competition from ownership; however, neighborhood rents remain moderate relative to incomes, supporting retention and measured pricing power. These observations are grounded in commercial real estate analysis from WDSuite.
Safety trends are generally comparable to national mid-range levels, with the neighborhood’s crime rank at 42 out of 180 in the Akron metro—roughly around the metro median. National percentiles indicate conditions close to the middle of the pack.
Property offenses have improved recently, with the estimated rate declining over the past year, while violent offense measures sit near national midpoints; taken together, this suggests incremental progress rather than a step-change. Investors should continue to monitor local policing and community initiatives as part of ongoing risk assessment.
Proximity to major employers underpins renter demand and commute convenience, led by Goodyear Tire & Rubber, FirstEnergy, Erie Insurance, J.M. Smucker, and the Norfolk Southern Motor Yard.
- Goodyear Tire & Rubber — manufacturing HQ (5.3 miles) — HQ
- FirstEnergy — utilities HQ (6.0 miles) — HQ
- Erie Insurance Group — insurance offices (11.5 miles)
- J.M. Smucker — food & consumer HQ (15.7 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (23.5 miles)
This 45-unit asset benefits from neighborhood occupancy in the top quartile nationally, supporting stable leasing and cash flow durability versus more volatile submarkets. The 1983 vintage is newer than the local average, positioning the property well against older competitors while leaving room for targeted capital to modernize finishes and systems. Within a 3-mile radius, households are projected to increase and median incomes are trending upward, which should expand the renter pool and support steady absorption.
Home values are relatively accessible in the neighborhood, so pricing power may be more measured; however, rents remain moderate relative to incomes, which supports retention and lowers turnover risk compared to high rent-to-income locations. According to CRE market data from WDSuite, this balance of occupancy stability, modest rent levels, and proximity to anchor employers creates a practical foundation for a long-term hold or a light value-add plan.
- Neighborhood occupancy in top quartile nationally supports stable collections and leasing
- 1983 vintage offers competitive positioning versus older stock with targeted upgrade potential
- 3-mile demographics point to household growth and rising incomes, expanding the renter base
- Accessible ownership market may temper pricing power—plan for value through operations and selective renovations