| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 52nd | Good |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1459 Rachel St NW, Canton, OH, 44709, US |
| Region / Metro | Canton |
| Year of Construction | 1974 |
| Units | 108 |
| Transaction Date | 2006-02-09 |
| Transaction Price | $1,990,000 |
| Buyer | AVALON APTS LLC |
| Seller | AVALON APARTMENTS LLC |
1459 Rachel St NW Canton Multifamily Investment
Neighborhood-level occupancy is among the strongest in the Canton–Massillon metro, supporting stable renter demand according to WDSuite’s CRE market data; this metric reflects conditions in the surrounding neighborhood, not the property itself.
The property sits in an Inner Suburb of Canton with a neighborhood rating of B+ and a rank of 37 among 132 metro neighborhoods, indicating it is competitive within the Canton–Massillon market. Local amenity mix is mixed: restaurants are dense (ranked 9 of 132; top quartile in the metro and strong nationally), while grocery access is a standout (ranked 3 of 132; 94th percentile nationally). By contrast, parks, cafés, childcare, and pharmacies are limited within the immediate neighborhood context.
For investors, neighborhood occupancy is exceptionally tight (ranked 1 of 132; top nationally), which can support leasing stability and renewal capture. The share of renter-occupied housing units is 42.2% (above the metro median), signaling a meaningful renter base and depth of demand for multifamily. Median contract rents in the neighborhood are lower than many metros, and a rent-to-income ratio of 0.13 suggests manageable affordability pressure—helpful for retention and measured rent growth strategies.
Vintage considerations are relevant: the average neighborhood construction year is 1975, and this asset’s 1974 vintage is slightly older than that average. Investors should underwrite ongoing capital planning and potential value-add through unit and systems modernization to maintain competitive positioning against newer stock.
Within a 3-mile radius, WDSuite’s demographics indicate modest recent population growth with a larger increase in total households, implying smaller household sizes and a gradually expanding tenant base. Forward-looking estimates point to continued population growth and a notable increase in households over the next five years, which would support demand for rental units and occupancy durability if realized. Household incomes are trending higher in the area, and projected rent levels also rise, reinforcing a case for sustained renter demand rather than rapid displacement.
Home values in the neighborhood are lower relative to national benchmarks (around the 19th percentile), which can increase competition from ownership options. That said, elevated grocery and restaurant access and stable neighborhood occupancy provide counterbalancing fundamentals for workforce-oriented multifamily.
Neighborhood-level crime metrics were not available for this release from WDSuite. Investors typically benchmark safety using multiple sources and trend comparisons at the neighborhood and metro levels to evaluate resident retention and leasing risk. Given the absence of rank and percentile data here, consider reviewing official local reports and time-series indicators alongside property-level history to contextualize risk.
Proximity to established employers supports a diversified workforce tenant base and commute convenience. Nearby anchors include insurance, manufacturing, utilities, and consumer goods offices listed below.
- Erie Insurance Group — insurance (2.7 miles)
- Goodyear Tire & Rubber — manufacturing (16.2 miles) — HQ
- FirstEnergy — utilities (18.5 miles) — HQ
- J.M. Smucker — consumer goods (19.7 miles) — HQ
- International Paper Company — packaging & paper (28.1 miles)
This 108-unit, 1974-vintage asset aligns with a neighborhood that posts exceptionally tight occupancy and a meaningful renter-occupied housing share, supporting leasing stability and a durable tenant base. Lower neighborhood rents and a modest rent-to-income ratio point to limited affordability pressure and potential for disciplined rent growth in step with value-add execution. According to CRE market data from WDSuite, nearby amenities skew toward restaurants and groceries, while parks and cafés are thin—an important consideration for positioning and resident experience.
Demographics aggregated within a 3-mile radius show recent population gains and a larger increase in households, with projections indicating continued growth and rising incomes—factors that can expand the renter pool and sustain occupancy. Given the 1974 vintage relative to the neighborhood’s 1975 average, underwriting should include capital improvements for interiors and building systems to preserve competitiveness and capture renewal and trade-up demand.
- Tight neighborhood occupancy and sizable renter base support leasing stability
- Value-add path: 1974 vintage suggests scope for unit and systems modernization
- 3-mile population and household growth expand the tenant pool and retention potential
- Strong grocery and restaurant access offsets thinner parks and café options
- Risk: lower home values may increase competition from ownership; careful pricing and amenity strategy recommended