| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 54th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2156 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 |
2156 Westwood Ct, Alliance OH Multifamily Opportunity
Neighborhood occupancy is about 95% with a renter-occupied share near 40%, indicating a stable tenant base at the neighborhood level, according to WDSuite’s CRE market data. These are neighborhood metrics, not property performance, and they point to steady leasing conditions for a well-managed 24-unit asset.
Located in the Canton-Massillon, OH metro, the neighborhood ranks 19 out of 132, placing it in the top quartile among metro neighborhoods and signaling balanced fundamentals for workforce-oriented multifamily. Occupancy in the neighborhood sits around the 70th national percentile, suggesting comparatively firm leasing conditions versus many U.S. areas.
Everyday conveniences are present at a modest level: grocery and restaurant density are near the middle of national comparisons, and cafes index above the national midpoint, while pharmacies are sparse. Average school ratings trend slightly above national medians (around the 61st percentile), which can support long-term neighborhood stability without commanding premium rents.
Rents in the neighborhood benchmark in the lower national quintile, while the rent-to-income ratio sits around the low-teen percent of income and ranks in a high national percentile for renter affordability. For investors, this combination supports retention and occupancy stability, though it may temper near-term pricing power. Median home values are below the national midpoint, which can introduce some competition from ownership; however, accessible ownership costs can also keep renter households in place when mobility is limited by financing or lifestyle preferences.
Vintage context matters: the property was built in 1981, while the surrounding housing stock skews newer on average (late-1980s). This older vintage positions the asset for targeted value-add—interiors, common areas, and operational upgrades—while warranting prudent capital planning for aging systems to remain competitive against newer supply.
Demographic statistics aggregated within a 3-mile radius show recent population and household contraction but forecasted stabilization and modest growth over the next five years alongside increasing household incomes. This trend points to a potential renter pool expansion and supports steady multifamily demand if management focuses on livability and value-oriented positioning.
Standardized, comparable crime metrics for this neighborhood were not available from WDSuite for this period. Investors typically benchmark safety using multiple sources and trend views at the neighborhood and city levels, alongside on-the-ground observations and discussions with local stakeholders. Given the suburban context, evaluating site-level security measures and recent trend data can help assess tenant retention and leasing risk.
Regional corporate employers within commuting distance support renter demand through diverse office and operations roles, offering a stable backdrop for workforce housing. The list below highlights nearby anchors most relevant to the area’s employment base.
- Erie Insurance Group — insurance (16.0 miles)
- Goodyear Tire & Rubber — corporate/manufacturing (20.6 miles) — HQ
- Norfolk Southern — rail transportation (22.7 miles)
- FirstEnergy — electric utility (23.3 miles) — HQ
- J.M. Smucker — food & beverage (32.8 miles) — HQ
This 24-unit, 1981-vintage asset is positioned in a metro-ranked top-quartile neighborhood that shows steady occupancy and renter depth. Based on CRE market data from WDSuite, the neighborhood exhibits occupancy near the mid-90s and a renter-occupied share around two-fifths, reinforcing demand stability for well-managed units. Lower relative rents and a favorable rent-to-income profile support retention, while an older vintage creates a clear value-add path through modernization and operational efficiencies.
Three-mile demographic data point to recent softness but improving forward indicators: incomes are rising and forecasts suggest modest population and household growth, which can widen the tenant base over time. The competitive set includes newer stock, so targeted capex and amenity upgrades can help sustain occupancy and limit concessions, while pricing strategy should account for accessible ownership options in the area.
- Top-quartile neighborhood in the Canton-Massillon metro with occupancy strength supporting leasing stability
- 1981 vintage offers value-add upside via interior updates and system modernization
- Lower relative rents and strong rent-to-income dynamics support tenant retention and cash flow durability
- Regional employers within commuting distance underpin workforce housing demand
- Risks: recent demographic softness, competition from ownership options, and capital needs tied to older systems