| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 69th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3468 Wyoga Lake Rd, Stow, OH, 44224, US |
| Region / Metro | Stow |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3468 Wyoga Lake Rd Stow 24-Unit 2007 Multifamily
Neighborhood occupancy is stable near local norms with a renter-occupied share of 35.7% at the neighborhood level, supporting a consistent tenant base, according to WDSuite’s CRE market data. Elevated ownership costs nearby further sustain rental demand without over-reliance on in-migration.
Positioned in an Inner Suburb of the Akron, OH metro, the property benefits from balanced livability and demand drivers that matter to multifamily investors. The neighborhood ranks 25th of 180 for overall amenities—top quartile within the Akron metro—with cafes (19th of 180) and childcare (52nd of 180) supporting day-to-day convenience; pharmacy access is thinner (180th of 180). School ratings sit near the national midpoint, suggesting serviceable but not standout education options for family renters.
At the neighborhood level, median asking rent trends are mid-market (54th national percentile), and occupancy around 91.6% has softened modestly over five years, indicating a leasing environment that remains serviceable while requiring attentive management to maintain stability. Neighborhood NOI per unit ranks 12th of 180—top quartile locally—signaling competitive income performance potential relative to other Akron submarkets, based on CRE market data from WDSuite.
Tenure mix points to steady multifamily demand: 35.7% of housing units are renter-occupied in the neighborhood, which provides depth to the tenant base and supports ongoing leasing activity. With a rent-to-income ratio near 0.12 at the neighborhood level, pricing appears manageable for many renters, aiding retention and reducing turnover risk from affordability pressure.
Demographic statistics within a 3-mile radius show modest recent population growth and a larger gain in households, with forecasts indicating further increases by 2028. A rising household count and higher-income mix in the 3-mile area expand the prospective renter pool and support occupancy stability and leasing velocity. Elevated home values in the neighborhood relative to incomes reinforce renter reliance on multifamily housing, which can help sustain demand and support prudent rent positioning.
Safety indicators are comparatively strong versus both metro and national benchmarks. The neighborhood’s violent offense rate ranks 1st of 180 Akron neighborhoods and sits in the 94th percentile nationally, indicating lower violent incident rates than most areas. Property offense sits in the 79th national percentile and ranks 29th of 180 locally—top quartile within the metro—with a recent year-over-year decline, supporting resident retention and leasing stability.
While conditions can vary by block and over time, the broader trend signals a comparatively safe environment for renters and on-site operations. Investors should continue to monitor local reporting and trends as part of standard risk management.
Proximity to regional employers underpins demand from a diverse workforce, supporting lease-up and retention for workforce and professional renters. Key nearby employment nodes include utilities, manufacturing, rail logistics, and distribution that are accessible within typical commuting ranges.
- FirstEnergy — utilities (5.7 miles) — HQ
- Goodyear Tire & Rubber — manufacturing & corporate (7.3 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (12.0 miles)
- Home Depot Distribution Center — distribution (15.1 miles)
- Airgas Merchant Gases — industrial gases (18.0 miles)
Built in 2007, this 24-unit asset offers newer-vintage positioning versus a neighborhood average around 1990, which can enhance competitiveness against older stock while keeping an eye on mid-life system updates and common-area refresh needs. At the neighborhood level, occupancy is around metro norms with slight softening over five years, and rents sit in the mid-market range—factors that favor disciplined operations and targeted value-add. According to CRE market data from WDSuite, neighborhood NOI per unit ranks in the top quartile locally, and a renter-occupied share near 36% provides depth to the tenant base.
Within a 3-mile radius, recent population growth and a larger increase in households point to a gradually expanding renter pool, with forecasts indicating further gains through 2028. Elevated home values relative to incomes in the neighborhood context support sustained rental demand and can bolster lease retention, while a rent-to-income ratio near 0.12 suggests manageable pricing power with measured adjustments. Key risks include average school ratings, thinner pharmacy access, and the need to actively manage leasing given modest occupancy softening.
- 2007 vintage competes well versus older local stock; plan for selective mid-life upgrades
- Neighborhood-level NOI per unit ranks top quartile among 180 Akron neighborhoods
- Renter-occupied share near 36% and mid-market rents support steady leasing and retention
- 3-mile household growth and income gains expand the prospective renter pool through 2028
- Risks: average school ratings, limited pharmacy access, and modest occupancy softening require active management