| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 54th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2153 Westwood Ct, Alliance, OH, 44601, US |
| Region / Metro | Alliance |
| Year of Construction | 1981 |
| Units | 24 |
| Transaction Date | 1995-07-18 |
| Transaction Price | $650,000 |
| Buyer | WILLMOLL DEV CO |
| Seller | CITIZENS SAVINGS CORP |
2153 Westwood Ct Alliance Multifamily Investment
Neighborhood occupancy is above the metro median and renter concentration is strong, supporting demand durability for a 24-unit asset, according to WDSuite s CRE market data. These signals point to steady leasing fundamentals at the neighborhood level rather than property-specific performance.
The property sits in an A-rated Suburban neighborhood within the Canton-Massillon metro (ranked 19 of 132 neighborhoods), suggesting solid fundamentals relative to the region. Neighborhood occupancy is above the metro median (rank 56 of 132), a favorable backdrop for maintaining leasing velocity and limiting downtime for turns.
Renter-occupied housing accounts for a high share of neighborhood units (rank 24 of 132; top quartile locally and 79th percentile nationally), indicating depth in the tenant base for multifamily. With a rent-to-income ratio near 0.10 (83rd percentile nationally), residents appear to face comparatively low affordability pressure, which supports retention and steadier collections.
Daily-needs access is adequate by national measures: groceries and restaurants each sit around the upper half of U.S. neighborhoods, with cafes comparatively stronger (71st percentile nationally). Average school ratings are above the national median, which can aid family retention and broaden appeal to a wider renter profile. Limited pharmacy and childcare presence in the immediate area may modestly affect convenience expectations.
Within a 3-mile radius, recent years show a smaller population and household base versus five years ago, while projections indicate a return to growth by 2028, with increases in both population and households that would expand the local renter pool. Forecasts also show a rising owner share, which could intensify competition from entry-level ownership options; investors should calibrate pricing and amenities to sustain capture of the renter-occupied segment.
The building s 1981 vintage is older than the neighborhood s average construction year (1989), pointing to potential capital expenditures and value-add upgrades. Targeted renovations and systems updates can improve competitive positioning against newer stock while supporting rent attainment consistent with neighborhood demand.
Comparable, neighborhood-level crime data are not available in WDSuite for this location, limiting direct benchmarking. Investors typically supplement with municipal reports and insurer/lender datasets to assess trends versus the broader Canton-Massillon area and to align security investments with leasing goals.
The surrounding labor market features a mix of insurance, manufacturing, rail, utilities, and consumer goods employers within commuting range, supporting workforce housing demand and lease retention for nearby multifamily. The list below reflects prominent employers by proximity.
- Erie Insurance Group insurance (16.0 miles)
- Goodyear Tire & Rubber tire manufacturing (20.6 miles) HQ
- Norfolk Southern rail transportation (22.7 miles)
- FirstEnergy electric utility (23.3 miles) HQ
- J.M. Smucker consumer packaged goods (32.8 miles) HQ
This 24-unit property offers exposure to an A-rated Suburban neighborhood where occupancy trends sit above the metro median and renter-occupied share ranks in the local top quartile. According to CRE market data from WDSuite, rent-to-income levels are favorable for retention, suggesting stable collections and predictable turnover. The amenity mix covers daily needs, while school ratings above the national median broaden the renter profile.
Constructed in 1981, the asset may benefit from targeted value-add and systems modernization to sharpen its position against newer comparables. Near-term leasing should be supported by a sizable renter base, while forward projections point to population and household growth within 3 miles that can expand the potential tenant pool. Key considerations include a forecast tilt toward ownership, which could raise competition for renters, and localized gaps in pharmacy/childcare access that may affect some households convenience expectations.
- Above-median neighborhood occupancy supports steady leasing and limited downtime.
- Strong renter-occupied share indicates depth in tenant demand for multifamily.
- Favorable rent-to-income dynamics aid retention and cash flow stability.
- 1981 vintage presents value-add and systems-upgrade potential for competitive positioning.
- Risks: forecast shift toward ownership and limited nearby pharmacy/childcare options may influence capture and retention.