| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1319 Walnut Ave NE, Canton, OH, 44714, US |
| Region / Metro | Canton |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2022-03-17 |
| Transaction Price | $774,500 |
| Buyer | COASTAL LINE HOMES LLC |
| Seller | EVERSTAR VENTURES 2 LLC |
1319 Walnut Ave NE Canton Multifamily Investment
Renter-occupied share in the neighborhood is above half, pointing to a durable tenant base and manageable pricing power, according to WDSuite’s CRE market data. Neighborhood occupancy trends are softer than metro norms, so performance hinges on operational execution and capturing demand from nearby employment nodes.
This Inner Suburb location in Canton offers everyday convenience anchored by strong grocery access and a solid dining mix. The neighborhood ranks in the top quartile among 132 metro neighborhoods for grocery density and restaurants, while broader amenities place competitively but not at the top nationally. Limited parks, pharmacies, and cafés nearby suggest residents rely on core services over lifestyle retail, which aligns with workforce housing demand.
Rents in the surrounding neighborhood sit around the metro middle by rank, and remain low in national terms, supporting lease retention and steady absorption rather than premium pricing. The neighborhood’s renter concentration is 51.7% of housing units, which signals depth in the tenant pool for a 24‑unit asset, though the neighborhood-level occupancy rate trails the metro median and requires proactive leasing and resident retention to sustain stability.
The property’s 1972 vintage is newer than the neighborhood’s older housing stock (average construction year skews to the 1930s). That positioning can be competitive versus prewar assets, with scope for targeted modernization and energy system upgrades to enhance rents without over-improving for the submarket.
Demographics within a 3‑mile radius show recent population softness but improving income trends and a near-even split between owner and renter households. WDSuite’s data points to rising household counts ahead, which can expand the renter pool and support occupancy stability even if individual household sizes fluctuate. In a low home value context for the area, ownership remains relatively accessible, so multifamily assets compete on convenience, turn-key living, and predictable monthly costs rather than on price alone.
Comparable neighborhood safety metrics are not available in WDSuite for this location. Investors should benchmark property performance and resident feedback against metro and national trends as new data is released, focusing on tenancy stability, visible upkeep, and lighting/access controls to support leasing and retention.
Nearby employers span insurance, manufacturing, utilities, and food products, providing a diversified employment base that supports renter demand and commute convenience for workforce tenants. Listed below are representative corporate offices within driving distance.
- Erie Insurance Group — insurance (4.3 miles)
- Goodyear Tire & Rubber — tire manufacturing (18.1 miles) — HQ
- FirstEnergy — electric utility (20.4 miles) — HQ
- J.M. Smucker — food products (20.8 miles) — HQ
- International Paper Company — packaging & paper (29.0 miles)
1319 Walnut Ave NE combines a renter-heavy neighborhood with modest absolute rents and everyday conveniences that underpin steady demand. The asset’s 1972 construction is newer than much of the local housing stock, giving it a competitive edge against older properties while leaving room for value‑add upgrades to interiors and building systems. Neighborhood occupancy trends are below the metro median, so consistent leasing execution and resident retention programs will be key to maintaining stability. According to commercial real estate analysis from WDSuite, low rent-to-income levels in the area support retention and measured rent growth tied to incremental improvements.
Within a 3‑mile radius, households are projected to increase, expanding the tenant base over the medium term. Local ownership costs remain comparatively low, which can create some competition with entry-level homebuying; however, multifamily units that deliver convenience, parking, and well-maintained finishes typically capture demand from residents prioritizing turn‑key living and predictable monthly costs.
- Renter‑heavy neighborhood supports a deeper tenant base and leasing velocity.
- 1972 vintage is newer than much of the area, with value‑add potential through targeted updates.
- Modest absolute rents and low rent‑to‑income levels aid retention and reduce turnover friction.
- Everyday amenities (notably grocery and dining) enhance livability for workforce renters.
- Risk: Neighborhood occupancy trails metro norms, requiring active leasing and expense control to safeguard NOI.