| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 37th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1015 Howe Ave, Cuyahoga Falls, OH, 44221, US |
| Region / Metro | Cuyahoga Falls |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2015-06-17 |
| Transaction Price | $1,390,000 |
| Buyer | HOWE CENTER APARTMENTS LLC |
| Seller | CAMBRIA III LLC |
1015 Howe Ave Cuyahoga Falls Value-Add Multifamily
Neighborhood-level occupancy remains steady and renter demand is supported by strong retail access, according to WDSuite’s CRE market data. The area’s renter-occupied share is high for the metro, pointing to a deep tenant base around the property.
The property sits in an Inner Suburb location within the Akron, OH metro, where the neighborhood ranks 33 out of 180 overall (top quartile among metro neighborhoods). Amenity access is a differentiator: grocery and dining densities are competitive among Akron neighborhoods and score in the upper national percentiles, helping with leasing visibility and day-to-day convenience for residents.
For investors evaluating commercial real estate analysis, neighborhood occupancy is in the low 90s and slightly above national medians, which supports cash flow stability at the neighborhood level rather than at the property. Median rents in the area trend below national levels, and the rent-to-income profile indicates relatively modest affordability pressure—favorable for retention but implying measured pricing power.
Vintage matters: built in 1973, the asset is slightly newer than the neighborhood’s average vintage (late 1960s). That positioning suggests ongoing competitiveness versus older stock while still warranting capital planning for aging systems and potential interior upgrades to capture value-add upside.
Tenure dynamics are favorable for multifamily: approximately six in ten housing units in the neighborhood are renter-occupied, indicating a deep renter concentration and broader tenant pool for a 24-unit asset. Within a 3-mile radius, WDSuite data shows recent population stability and a projected increase in both population and households through 2028, expanding the prospective renter base and supporting occupancy durability.
Schools in the immediate area score below national medians, which can be a consideration for family-oriented renters. However, the neighborhood’s amenity density, employment access, and relative rent levels suggest continued appeal for workforce and convenience-driven households.
Safety indicators are mixed. The neighborhood’s overall crime rank sits near the metro midpoint (82 out of 180 Akron neighborhoods), while national comparisons indicate below-average safety percentiles. Importantly, recent WDSuite data shows violent offense rates trending down year over year, an improvement that investors should monitor for durability.
As always, safety varies by block and over time. Investors should evaluate on-the-ground conditions and property-level measures (lighting, access control, resident screening) to support leasing and retention.
The location draws from a diversified employment base that supports renter demand and commute convenience, particularly across energy utilities, manufacturing, logistics, and insurance. Nearby anchors include FirstEnergy, Goodyear, Norfolk Southern, a Home Depot distribution facility, and Erie Insurance offices.
- FirstEnergy — electric utility (3.5 miles) — HQ
- Goodyear Tire & Rubber — tire manufacturing (4.1 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (15.2 miles)
- Home Depot Distribution Center — distribution (18.2 miles)
- Erie Insurance Group — insurance offices (18.8 miles)
1015 Howe Ave offers exposure to a high-amenity Inner Suburb with neighborhood occupancy in the low 90s, a renter-occupied share near 60%, and a tenant base reinforced by nearby corporate anchors. Built in 1973, the asset presents value-add potential through targeted renovations and system updates while remaining competitive versus older nearby stock. According to CRE market data from WDSuite, rents in the area sit below national levels, which supports retention and leasing velocity even as it moderates near-term pricing power.
Within a 3-mile radius, WDSuite indicates modest recent population growth and a projected increase in households through 2028, which points to renter pool expansion and supports occupancy stability over the hold period. Investors should balance these fundamentals with prudent capital planning and thoughtful leasing strategies.
- High neighborhood renter concentration supports a deeper tenant base and leasing resilience.
- 1973 vintage offers value-add potential via interior updates and system modernization.
- Amenity-rich location near major employers underpins demand and retention.
- Risks: below-average national safety percentiles and lower school ratings may influence family demand and require enhanced property-level management.