| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 21st | Poor |
| Demographics | 20th | Poor |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1206 Lippert Rd NE, Canton, OH, 44705, US |
| Region / Metro | Canton |
| Year of Construction | 1975 |
| Units | 81 |
| Transaction Date | 2012-02-24 |
| Transaction Price | $911,000 |
| Buyer | STARK URBAN HOLDINGS LLC |
| Seller | VICTORY SQUARE APARTMENTS LIMITED PARTNE |
1206 Lippert Rd NE, Canton OH Multifamily Investment
Renter demand in the wider Canton-Massillon area and a 1975 value-add vintage point to steady cash flow potential, based on CRE market data from WDSuite. Neighborhood metrics are softer, so performance depends on active leasing and targeted upgrades.
Livability indicators are mixed. The neighborhood s overall amenities index tracks in lower national bands (around the 20th percentile), yet grocery access is comparatively stronger (about the 56th percentile nationally) and restaurants sit near the 62nd percentile. Within the immediate blocks, cafes, parks, and pharmacies are limited, which can reduce walkable convenience for residents.
At the neighborhood scale, 36.0% of housing units are renter-occupied, indicating a meaningful renter concentration relative to many U.S. neighborhoods by percentile. Expanding the lens, the 3-mile area shows a larger renter concentration (about 54% renter-occupied), which broadens the potential tenant base for assets that draw from nearby submarkets and arterial corridors.
Neighborhood occupancy is 83.8% with a modest five-year uptick. This level trails tighter submarkets, putting a premium on unit quality, maintenance responsiveness, and competitive amenities to support leasing velocity and reduce turnover downtime.
The average neighborhood construction year is 1948. With a 1975 vintage, the property is newer than much of the local stock and can compete on functionality; however, investors should plan for selective modernization of systems and interiors to sustain renter appeal and support pricing.
Demographics aggregated within a 3-mile radius suggest a constructive medium-term backdrop. Recent years show slight population decline, but forecasts point to population growth and a notable increase in households through 2028 —both supportive of renter pool expansion and occupancy stability. Median contract rent growth in the 3-mile area is expected to continue, while a neighborhood rent-to-income ratio near 0.18 indicates manageable affordability pressure that can aid retention. Given lower home values versus national norms, ownership remains relatively accessible, which can create competition with rentals; positioning on convenience and renovated finishes can mitigate this risk.
Neighborhood-level crime benchmarks are not available in WDSuite for this location. Investors commonly compare third-party safety data to metro and national baselines and review property-level incident history to calibrate security measures and loss expectations before underwriting.
Nearby employment centers span insurance, manufacturing, energy, food products, and packaging, supporting workforce housing demand and commute convenience for renters.
- Erie Insurance Group — insurance (5.0 miles)
- Goodyear Tire & Rubber — manufacturing (18.7 miles) — HQ
- FirstEnergy — utilities/energy (21.0 miles) — HQ
- J.M. Smucker — food products (21.3 miles) — HQ
- International Paper Company — paper & packaging (29.4 miles)
This 81-unit asset built in 1975 offers a value-add path relative to older neighborhood stock while benefiting from a wider 3-mile renter base and access to established employers. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years but remains below tighter submarkets, making operations, renewals, and targeted renovations central to the thesis.
Forward-looking demographics within 3 miles indicate population growth and a substantial increase in households by 2028, which supports renter pool expansion and leasing stability. Lower home values by national comparison can introduce competition from ownership, so emphasizing updated interiors, reliability, and convenience will be important to sustain pricing power and retention.
- 1975 vintage vs. older neighborhood stock supports a practical value-add and modernization strategy
- Broader 3-mile area shows stronger renter concentration, deepening the tenant base and supporting occupancy
- Household growth forecasts point to more renters entering the market and steadier lease-up potential
- Employer access (insurance, manufacturing, energy) underpins workforce demand and day-to-day occupancy
- Risks: softer neighborhood amenity profile and below-peak neighborhood occupancy require active leasing and competitive finishes