| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 37th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1017 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 |
1017 Howe Ave Cuyahoga Falls Multifamily Investment
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and occupancy that tracks near national mid-range, according to WDSuite’s CRE market data. A walkable amenity cluster along Howe Ave further underpins day-to-day livability and leasing durability.
Positioned in an Inner Suburb of the Akron metro, the neighborhood around 1017 Howe Ave carries an A- neighborhood rating and ranks 33 out of 180 metro neighborhoods, placing it in the top quartile locally. Amenity access is a clear strength, with grocery and dining density competitive among Akron neighborhoods and high versus national norms, supporting resident convenience and leasing appeal.
The neighborhood’s renter concentration is substantial, with roughly six in ten housing units renter-occupied. For investors, that depth of renter households points to a steady tenant base for smaller-unit product, while neighborhood occupancy sits roughly in the national mid-range, suggesting stable but still management-sensitive performance.
Vintage matters: the property was built in 1973, a bit newer than the neighborhood’s average vintage from the late 1960s. That positioning can be competitive versus older stock, though investors should plan for ongoing system updates or selective modernization to meet current renter expectations for finishes and energy efficiency.
Within a 3-mile radius, population has edged up recently and is projected to continue growing, with households expanding at a faster clip. This points to a larger tenant base and potential support for occupancy stability and measured rent growth over time. Median contract rents in the neighborhood remain accessible in a metro context, and a moderate rent-to-income profile suggests manageable affordability pressure that can aid retention; however, relatively more accessible ownership costs in parts of the metro can introduce some competitive pressure for price-sensitive renters.
School ratings in the neighborhood trend below national averages, which can matter for family-oriented demand, but proximity to employment and strong retail services often offsets this for workforce renters prioritizing commute and convenience.
Safety outcomes are mixed in this area relative to national benchmarks. Neighborhood-level indicators place overall safety below national averages, with property crime elevated compared to many U.S. neighborhoods. That said, recent data show a decline in violent incidents over the past year, indicating some improvement in trend.
Within the Akron metro, the neighborhood sits in the lower half of safety rankings among 180 neighborhoods. Investors typically account for this by emphasizing on-site security practices, lighting, and resident screening, and by highlighting the location’s amenity access and commute advantages in marketing.
Nearby employment anchors span utilities, manufacturing, logistics, distribution, and insurance, supporting workforce housing demand and commute convenience for renters who prioritize proximity to major employers.
- FirstEnergy — utilities HQ (3.6 miles) — HQ
- Goodyear Tire & Rubber — manufacturing HQ (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)
This 24-unit asset of 1973 vintage benefits from strong neighborhood amenities and a sizeable renter pool, with renter-occupied housing making up a majority of units nearby. Occupancy in the neighborhood sits near national mid-range and, according to CRE market data from WDSuite, amenity density and daily needs retail are clear strengths that can support leasing velocity and retention. The property’s slightly newer-than-area vintage can compete well against older stock, while selective renovations may unlock value relative to workforce demand.
Within a 3-mile radius, population is trending upward and households are expanding, implying a larger tenant base over time. Neighborhood rents remain accessible in a metro context and rent-to-income metrics point to manageable affordability pressure, which can translate into steadier rent rolls. Counterweights include below-average school ratings, property crime that is higher than national norms, and some competition from relatively accessible homeownership in parts of the metro—factors that call for disciplined operations and thoughtful pricing.
- Amenity-rich Inner Suburb location with top-quartile neighborhood standing in the Akron metro
- Large nearby renter base supports demand for smaller units and occupancy stability
- 1973 vintage offers competitive positioning versus older stock with value-add potential through targeted upgrades
- Household growth within 3 miles expands the tenant pool, aiding leasing and retention
- Risks: below-average safety metrics, softer school ratings, and some competition from ownership options