| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 63rd | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1316 Sackett Ave, Cuyahoga Falls, OH, 44223, US |
| Region / Metro | Cuyahoga Falls |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2017-01-09 |
| Transaction Price | $1,296,000 |
| Buyer | Randolph C & Elizabeth M Balaj |
| Seller | Sackett Avenue Ptshp |
1316 Sackett Ave, Cuyahoga Falls Multifamily Investment
Neighborhood occupancy is strong and stable, with the area ranking 17 out of 180 Akron neighborhoods and landing in the top quartile nationally, according to WDSuite’s CRE market data. This supports durable renter demand for a 24-unit asset positioned in an inner-suburban location.
Located in Cuyahoga Falls’ inner-suburban fabric, the neighborhood carries an A- rating and ranks 31 out of 180 Akron neighborhoods, indicating competitive positioning within the metro. Amenity density is a differentiator: cafes and parks both benchmark near the 97th percentile nationally, and restaurants are also elevated. Grocers track above national norms, while childcare and pharmacies are thinner locally — a mixed retail picture that still provides daily-needs access.
For schools, the neighborhood’s average rating is strong at 4.0 out of 5 and ranks 13 of 180 in the metro (top decile locally), landing in the top quartile nationally. These education fundamentals often correlate with sustained renter interest and retention in workforce and middle-income segments.
Multifamily dynamics are favorable: neighborhood occupancy is 99.2% (ranked 17 of 180; top quartile nationally), and the share of housing units that are renter-occupied sits at 42.4% with an 82nd national percentile reading — both signals of depth and stability in the tenant base rather than a transient renter pool. Median contract rents in the neighborhood benchmark on the lower side relative to national levels, and the rent-to-income ratio around 0.16 points to manageable affordability pressure — constructive for lease management and renewals.
Vintage and competitive positioning: with a 1973 construction year, the property is newer than the neighborhood’s average vintage (1949). That can provide a relative edge versus older local stock, while leaving room for targeted modernization or value-add improvements to enhance positioning against comparable assets.
Demographics within a 3-mile radius show population growth in recent years and an increase in households, with forecasts pointing to additional population gains and a notable expansion in household counts by 2028. Smaller average household sizes over time suggest more households relative to residents, which typically expands the renter pool and supports occupancy stability and leasing velocity for well-located mid-size properties.
Ownership context: local home values trend below national norms, which can introduce some competitive pressure from entry-level ownership. Even so, elevated amenity access and strong school scores, paired with steady renter-occupied share, support sustained multifamily demand and pricing resilience through operational cycles.
Comparable neighborhood-level safety benchmarks were not available in this dataset. Investors typically evaluate crime trends relative to the Akron metro and to national distributions to understand tenant retention and insurance considerations; where data is accessible, a neighborhood-versus-metro comparison and multi-year directionality are recommended for underwriting.
Proximity to established employers underpins renter demand and commute convenience, led by FirstEnergy, Goodyear Tire & Rubber, Norfolk Southern, Home Depot Distribution, and Erie Insurance.
- FirstEnergy — utilities (3.4 miles) — HQ
- Goodyear Tire & Rubber — tire & rubber (5.1 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (14.2 miles)
- Home Depot Distribution Center — distribution (17.4 miles)
- Erie Insurance Group — insurance (19.8 miles)
This 24-unit, 1973-vintage property benefits from a neighborhood with top-quartile occupancy and a renter-occupied share that ranks strongly on a national basis, supporting day-one demand and retention. Amenity access — notably high cafe and park density — and above-average school ratings strengthen livability, a useful lever for leasing and renewals. Based on CRE market data from WDSuite, neighborhood rents sit at accessible levels relative to income, which can help manage affordability pressure while leaving room for targeted value-add to improve positioning versus older local stock.
Within a 3-mile radius, population has grown and households have increased, with forward projections indicating further renter pool expansion. While more accessible ownership options in the area can create competition for some tenants, the combination of amenity-rich surroundings, strong schools, and stable occupancy trends points to durable fundamentals for a well-operated mid-size asset.
- Top-quartile neighborhood occupancy and solid renter concentration support demand stability
- 1973 vintage offers a competitive edge versus older local stock with targeted modernization upside
- Amenity-rich area and strong school ratings enhance leasing appeal and retention
- 3-mile population and household growth indicate ongoing renter pool expansion
- Risk: relatively accessible ownership alternatives may compete with rentals; focus on finishes and operations to differentiate