| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 35th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1732 Market Ave N, Canton, OH, 44714, US |
| Region / Metro | Canton |
| Year of Construction | 1986 |
| Units | 65 |
| Transaction Date | 2024-02-08 |
| Transaction Price | $2,946,000 |
| Buyer | VASSAR VILLAGE SENIOR HOUSING LIMITED PARTNER |
| Seller | NATIONAL CHURCH RESIDENCES OF JRC LLC |
1732 Market Ave N Canton 65-Unit Value-Add Multifamily
Neighborhood occupancy trends are steady and sit modestly above national medians, supporting leasing stability for well-managed assets, according to WDSuite s CRE market data. Newer 1986 vintage relative to nearby stock suggests competitive positioning with scope for targeted modernization.
Located in an Inner Suburb of Canton-Massillon, the property benefits from a renter base supported by stable neighborhood occupancy around the low-90s and a renter-occupied share of housing units near one-third. That renter concentration is competitive among Canton-Massillon neighborhoods (rank 41 of 132) and sits in a higher national percentile, indicating a viable tenant pool for multifamily demand, based on commercial real estate analysis from WDSuite.
The building 19s 1986 construction is newer than the neighborhood 19s average vintage (1955). Investors should consider that relatively newer stock can outperform older comparables on leasing and operating costs, while still planning for system updates and selective renovations to enhance positioning.
Within a 3-mile radius, household counts have edged up even as population was roughly flat to slightly lower in recent years, implying smaller household sizes and a steady flow of renters. Looking ahead, WDSuite 19s data shows projected growth in households over the next five years, which would expand the local renter pool and help support occupancy stability if realized.
Amenities within the immediate neighborhood are limited (few cafes, groceries, parks, and services by metro rank), so residents may rely more on near-by corridors for daily needs. Median home values in the area are lower versus national norms, which can introduce some competition from ownership alternatives; however, rent-to-income levels appear manageable, supporting retention and measured pricing power for appropriately positioned units.
Comparable neighborhood safety metrics were not available in the current WDSuite release for this location. Investors typically benchmark submarket-level trends against city and metro patterns and incorporate on-the-ground diligence (property-level incident logs, lighting, access control) when underwriting risk.
Given the data gap, prudent practice includes monitoring city and metro crime trend reports over time and aligning security measures with resident expectations to support retention and leasing performance.
Local employment is diversified across insurance, manufacturing, utilities, and consumer staples, supporting renter demand through commute convenience to Erie Insurance Group, Goodyear, FirstEnergy, J.M. Smucker, and International Paper.
- Erie Insurance Group insurance (4.1 miles)
- Goodyear Tire & Rubber manufacturing (17.6 miles) HQ
- FirstEnergy utilities (19.9 miles) HQ
- J.M. Smucker consumer staples (20.8 miles) HQ
- International Paper Company packaging & paper (29.1 miles)
1732 Market Ave N offers 65 units averaging roughly 1,257 square feet, creating a larger-unit profile that can attract households seeking space and support lease retention. The 1986 vintage positions the asset newer than much of the nearby housing stock, with an opportunity to pursue selective value-add to interiors and building systems. Neighborhood occupancy trends are solid and the renter-occupied share is competitive within the metro, while ownership costs remain relatively accessible, suggesting balanced demand dynamics. Based on CRE market data from WDSuite, household growth within a 3-mile radius is projected to increase over the next five years, which would expand the renter pool and support stable operations if realized.
Key considerations include limited immediate neighborhood amenities, the potential for competition from lower ownership costs, and standard capital planning for a mid-1980s asset. With prudent renovations and targeted marketing to larger households, the property can compete well against older stock while maintaining disciplined expense control.
- Larger average unit sizes support family and roommate demand, aiding retention
- 1986 vintage provides competitive positioning with targeted value-add upside
- Steady neighborhood occupancy and competitive renter concentration support leasing stability
- Projected 3-mile household growth could expand the renter pool over time
- Risks: limited nearby amenities and competition from homeownership options require careful pricing and marketing