| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 61st | Best |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 520 Waterside Ave, Canal Fulton, OH, 44614, US |
| Region / Metro | Canal Fulton |
| Year of Construction | 1979 |
| Units | 40 |
| Transaction Date | 2016-03-31 |
| Transaction Price | $1,199,000 |
| Buyer | Kelar Properties LLC |
| Seller | Lakeview Estates Ltd |
520 Waterside Ave, Canal Fulton OH Multifamily Investment
Steady renter demand supported by top-tier local schools and median neighborhood occupancy around the metro level, according to WDSuite’s CRE market data.
Located in Canal Fulton within the Canton–Massillon metro, the neighborhood rates competitive among local areas (A rating; 12 of 132), signaling balanced fundamentals for a 40-unit asset. Schools score in the top quartile nationally (rank 8 of 132 locally), which can aid family retention and leasing stability.
Amenity access is solid for a rural setting, with cafes, pharmacies, parks, and groceries landing around the national middle to upper-middle percentiles. This mix supports day‑to‑day livability for residents without relying on long commutes for essentials.
Neighborhood occupancy trends are around the metro median and slightly above the national median, helping underpin baseline stability. Renter concentration is roughly one-quarter of housing units, indicating a moderate but durable tenant base for multifamily demand rather than a transient, heavily renter‑weighted area.
Within a 3‑mile radius, recent data shows modest population softness but a projected increase in households alongside smaller average household sizes, pointing to a gradual renter pool expansion that can support occupancy and lease-up. Median contract rents are accessible relative to incomes (rent-to-income ratio near 12%), which can aid retention while still allowing measured pricing power.
Home values sit in a high‑cost ownership market for the area, which tends to reinforce reliance on rental options and supports multifamily demand depth. Compared with metro peers, neighborhood NOI per unit benchmarks trend on the lower side, so underwriting should focus on operational execution and expense discipline.
Neighborhood‑level crime metrics were not available in WDSuite for this location at the time of publication. Investors typically supplement market‑level views with local law enforcement reports and property‑level history to assess safety trends and tenant retention implications.
The employment base features a mix of insurance, consumer goods, energy, and manufacturing within commutable distance, supporting workforce housing demand and lease retention. Nearby anchors include Erie Insurance, J.M. Smucker, Goodyear, FirstEnergy, and International Paper.
- Erie Insurance Group — insurance (8.9 miles)
- J.M. Smucker — consumer goods (9.4 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (12.8 miles) — HQ
- FirstEnergy — utilities (13.4 miles) — HQ
- International Paper Company — paper & packaging (18.4 miles)
1979 construction positions the property newer than much of the local housing stock, offering relative competitiveness versus older comparables while still warranting targeted modernization for systems and finishes. Occupancy in the surrounding neighborhood sits around the metro median and slightly above national norms, and school quality ranks among the strongest locally—factors that support steady leasing and family retention. Based on commercial real estate analysis from WDSuite, rents remain accessible relative to area incomes, which can aid renewals and reduce turnover risk.
Investor focus should center on operational execution: the neighborhood’s NOI per‑unit benchmarks trend lower versus metro peers, so value lies in disciplined expense management, modest renovations to lift appeal, and capturing incremental rent where supported by demand. The 3‑mile demographic outlook points to more households and smaller sizes, indicating a larger tenant base over time that can support occupancy stability.
- Newer 1979 vintage than local average, with selective value‑add potential
- Neighborhood occupancy around metro median and supported by strong local schools
- Rents accessible relative to incomes, aiding retention and pricing flexibility
- 3‑mile outlook suggests more households and a gradually expanding renter pool
- Risk: lower neighborhood NOI benchmarks require tight operations and prudent capex