| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 54th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2059 Glamorgan St, Alliance, OH, 44601, US |
| Region / Metro | Alliance |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2016-10-20 |
| Transaction Price | $500,000 |
| Buyer | GLAMORGAN WEST APARTMENTS LLC |
| Seller | ROGEL CYNTHIA L |
2059 Glamorgan St Alliance OH Multifamily Investment
Neighborhood occupancy has been resilient, supporting cash flow durability, according to WDSuite’s CRE market data. A meaningful share of nearby housing is renter-occupied, indicating a stable tenant base for a 24-unit asset.
The property sits in a suburban pocket of Alliance within the Canton–Massillon metro. The neighborhood carries an A rating and ranks 19th of 132 metro neighborhoods — competitive among Canton–Massillon locations — with occupancy above the metro median and around the 70th percentile nationally, signaling healthy leasing fundamentals for multifamily operators.
Local livability supports renter retention: parks and everyday amenities are competitive among 132 metro neighborhoods, with grocery and dining density above national medians. Average public school ratings trend slightly above national midpoints. While the café and restaurant mix is moderate rather than destination-level, it is sufficient for day‑to‑day convenience.
Vintage context matters for underwriting. The average neighborhood construction year trends newer (late 1980s). Built in 1979, this asset is older than nearby stock, implying potential capital planning and value‑add/renovation upside to remain competitive against newer comparables.
Tenure and demand dynamics favor multifamily. Roughly 40% of neighborhood housing units are renter‑occupied, indicating depth in the tenant pool. Rents benchmark on the lower side regionally, and rent‑to‑income ratios sit in a stronger national percentile, which can support retention and measured rent growth rather than aggressive push strategies. Home values are relatively accessible versus many U.S. markets, so investors should monitor potential competition from ownership, but current ownership costs still sustain steady reliance on rental options.
Within a 3‑mile radius, demographics show recent softness but improving forward indicators. While population edged down in the prior five years, forecasts point to modest population growth and a meaningful increase in households by 2028, expanding the renter pool and supporting occupancy stability. These trends, based on CRE market data from WDSuite, frame near‑term leasing as stable with measured upside rather than outsized growth.
Neighborhood‑level crime metrics are not available in this dataset. Investors typically benchmark safety using city and county trends alongside property‑level history, and compare against peer neighborhoods in the Canton–Massillon metro for context. Where comparable neighborhoods rank above metro averages, owners often see fewer disruption risks and steadier retention; absent local figures, underwriting should incorporate standard reserves and on‑site management practices.
Regional employment anchors within commuting range include insurance, manufacturing HQs, rail operations, an electric utility, and a branded food company — a diversified base that can support renter demand and lease stability.
- Erie Insurance Group — insurance (16.2 miles)
- Goodyear Tire & Rubber — tire manufacturing (20.4 miles) — HQ
- Norfolk Southern — rail transportation offices (22.2 miles)
- FirstEnergy — electric utility (23.1 miles) — HQ
- J.M. Smucker — food products (33.0 miles) — HQ
This 24‑unit property’s location benefits from neighborhood occupancy that sits above the metro median and near the top third nationally, supporting baseline leasing stability. Built in 1979, it is older than much of the surrounding stock, which suggests a targeted value‑add and systems‑modernization plan could lift competitiveness and rents without overreliance on market growth. According to CRE market data from WDSuite, rent levels remain relatively low versus income, reinforcing retention and allowing for disciplined, incremental pricing.
Within a 3‑mile radius, forecasts call for modest population growth and a notable increase in households by 2028, pointing to a larger tenant base and support for steady occupancy. At the same time, ownership remains comparatively accessible in this region, so investors should balance renovation scope and rent positioning to avoid heightened move‑out risk to for‑sale alternatives.
- Neighborhood occupancy above metro median supports stable leasing
- 1979 vintage offers value‑add and modernization upside versus newer comps
- Rent‑to‑income positioning favors retention with room for disciplined pricing
- 3‑mile forecasts indicate household growth, expanding the renter pool
- Risk: relatively accessible ownership options can cap aggressive rent pushes