| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 20th | Poor |
| Demographics | 18th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1884 6th St NE, Canton, OH, 44704, US |
| Region / Metro | Canton |
| Year of Construction | 1972 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1884 6th St NE Canton Multifamily Investment
Neighborhood occupancy measures 77%, signaling demand that can support stable workforce rentals, according to WDSuite’s CRE market data. Rents in the immediate area sit at the lower end of the metro, offering room for operational execution over headline rent growth.
Located in Canton’s inner-suburb fabric, the neighborhood carries a C- rating among 132 metro neighborhoods, reflecting mixed fundamentals with selective strengths. Restaurants and grocery options are above the metro median by rank, with groceries and dining in the top quartile among 132 Canton–Massillon neighborhoods and grocery access also testing above the national median by percentile. By contrast, parks, pharmacies, cafes, and childcare options are limited locally, which may influence lifestyle appeal for some renter segments.
At the neighborhood level, occupancy is reported at 77% and trails stronger metro sub-areas, suggesting investors should underwrite leasing velocity with discipline. However, the surrounding 3-mile radius shows a renter-occupied housing share near one-half, indicating a sizable tenant base that supports multifamily demand and renewal depth. Median rents in the neighborhood are comparatively low for the metro, which can aid retention and reduce near-term affordability pressure.
Within a 3-mile radius, recent population trends have been roughly flat, while WDSuite’s data indicates a projected increase in households by the forecast horizon, paired with smaller average household sizes. For investors, a rising household count typically expands the renter pool and can support occupancy stability even if overall population growth is modest.
Home values in the neighborhood sit well below national norms, which can introduce some competition from ownership in a lower-cost market. That said, comparatively accessible homeownership often coexists with durable rental demand where rent levels remain manageable and proximity to employment nodes is practical. Average school ratings are below national averages, which may be less critical for workforce-oriented unit mixes but should be considered when positioning family-targeted floor plans.
Neighborhood-level safety metrics were not available in WDSuite for this period. Investors typically benchmark conditions against broader Canton–Massillon trends and property-level history, and incorporate standard risk management (lighting, access control, and community engagement) into underwriting and operations.
Nearby corporate offices provide a practical employment base that can support renter demand and commute convenience, led by insurance, manufacturing, energy, and consumer goods employers listed below.
- Erie Insurance Group — insurance (5.6 miles)
- Goodyear Tire & Rubber — manufacturing (19.2 miles) — HQ
- FirstEnergy — utilities/energy (21.5 miles) — HQ
- J.M. Smucker — consumer goods (21.8 miles) — HQ
- International Paper Company — paper/packaging (29.9 miles)
Built in 1972, this 56-unit asset offers mid-vintage value-add potential relative to an older neighborhood housing stock, creating room for targeted renovations, systems updates, and amenity upgrades to drive rent and retention without overextending capex. Neighborhood occupancy around 77% trails stronger sub-areas, according to CRE market data from WDSuite, so execution should emphasize leasing fundamentals, resident experience, and cost control over outsized rent assumptions.
Investor advantages include a sizable renter base within a 3-mile radius, grocery and restaurant access that ranks above the metro median, and rent levels that remain comparatively manageable—factors that can support renewal rates and steady absorption. Offsetting considerations include below-average school ratings, limited park/cafe amenities, and a lower-cost ownership landscape that can compete for some households; prudent underwriting and a clear value proposition are important.
- 1972 vintage with value-add and systems-modernization upside versus older local stock
- Renter base within 3 miles and above-median grocery/restaurant access support retention
- Lower neighborhood rent levels can aid leasing and reduce near-term affordability pressure
- Risks: below-median occupancy, limited amenities/school ratings, and ownership competition in a lower-cost market