| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 45th | Fair |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 4th Ave SW, Beach City, OH, 44608, US |
| Region / Metro | Beach City |
| Year of Construction | 1986 |
| Units | 40 |
| Transaction Date | 2005-06-20 |
| Transaction Price | $1,329,500 |
| Buyer | ENGEL TERRACE LP |
| Seller | BEACH CITY LP |
500 4th Ave SW Beach City Multifamily Opportunity
Neighborhood occupancy has remained around the low-90% range with slight five‑year improvement, and low rent-to-income levels point to retention potential for landlords, according to WDSuite’s CRE market data.
Situated in a rural pocket of the Canton–Massillon metro, the area around 500 4th Ave SW offers a quieter setting with limited daily conveniences in immediate proximity. Cafes are comparatively more available versus many metro peers (competitive among 132 metro neighborhoods), while grocery and park access are sparse—factors to weigh against residents’ driving patterns and parking capacity at the asset.
Multifamily performance signals are steady: neighborhood occupancy is about 90% with a modest five‑year uptick, suggesting stable leasing conditions rather than rapid tightening. The share of housing units that are renter‑occupied is roughly one‑third, indicating a meaningful but not dominant renter concentration that can support depth of tenant demand without oversaturation.
Within a 3‑mile radius, demographics point to renter pool expansion. Population and household counts have grown over the past five years, with households rising faster than population—consistent with smaller household sizes and more households entering the market. Forward‑looking projections indicate additional increases in households by 2028, which typically supports occupancy stability and lease‑up predictability for appropriately positioned product.
Affordability stands out. The neighborhood’s rent‑to‑income ratio sits in the top decile nationally, implying lower affordability pressure on tenants and potential room for measured rent growth management. Median home values are comparatively accessible for ownership, which can introduce competition for some renters; however, that dynamic often supports resident retention in well‑run properties through value, convenience, and professional management. The property’s 1986 vintage is newer than the neighborhood’s older housing stock (average year 1943), providing relative competitiveness versus legacy assets, though selective modernization may still be warranted for systems and finishes.
Specific neighborhood crime metrics are not available from WDSuite for this location. Investors should compare municipal and metro-level safety trends to benchmark risk tolerance and insurance assumptions, and consider property-level measures (lighting, access controls, resident engagement) that can support retention and operating performance.
The employment base within commuting distance includes corporate offices and headquarters that help underpin renter demand and retention through steady white- and blue-collar jobs. Notable nearby employers include Erie Insurance Group, J.M. Smucker, International Paper, Goodyear, and FirstEnergy.
- Erie Insurance Group — insurance (15.6 miles)
- J.M. Smucker — food products (16.9 miles) — HQ
- International Paper Company — packaging & paper (21.0 miles)
- Goodyear Tire & Rubber — tires & rubber (28.8 miles) — HQ
- FirstEnergy — utilities (30.1 miles) — HQ
With 40 units built in 1986, this asset offers relative age advantage versus the neighborhood’s predominantly older housing stock, positioning it competitively for workforce renters. Neighborhood occupancy has trended modestly upward and sits near stable levels, while the share of renter‑occupied units supports a durable tenant base rather than a transient one. Within a 3‑mile radius, recent increases in households and projected growth through 2028 point to a larger tenant base, supporting occupancy stability and measured rent growth for well‑managed properties.
Affordability metrics are favorable for operators: the rent‑to‑income ratio ranks among the strongest nationally, implying lower resident payment pressure and potential pricing power over time when paired with property improvements. At the same time, comparatively accessible home values in the area warrant attention to value proposition and resident experience. According to CRE market data from WDSuite, these dynamics—steady occupancy, expanding household counts, and a newer‑than‑average vintage—frame a pragmatic, operations‑focused thesis with selective value‑add upside.
- 1986 vintage vs. older local stock supports competitive positioning with targeted modernization
- Neighborhood occupancy near stable levels with slight five‑year improvement aids leasing predictability
- 3‑mile household growth and projected increases expand the tenant base and support demand
- Favorable rent‑to‑income dynamics suggest retention potential and measured rent growth capacity
- Risks: rural amenity limitations and accessible ownership options require strong management and resident value