| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 28th | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2607 Market Ave N, Canton, OH, 44714, US |
| Region / Metro | Canton |
| Year of Construction | 2002 |
| Units | 42 |
| Transaction Date | 2002-01-31 |
| Transaction Price | $270,000 |
| Buyer | AHEPA 59 INC |
| Seller | KOLP THOMAS A TRUSTEE |
2607 Market Ave N, Canton OH Multifamily Investment
Renter concentration is high in the surrounding neighborhood, supporting a steady tenant base for a 2002-vintage asset, according to WDSuite’s CRE market data. Newer construction relative to local stock positions the property competitively while leaving room for selective modernization.
The property sits in an Inner Suburb of Canton where neighborhood livability is mixed but investor-relevant fundamentals are clear. Neighborhood occupancy trends sit below the metro median (rank 96 among 132 metro neighborhoods), yet the renter-occupied share is very high at the neighborhood level (rank 2 of 132; 97th percentile nationally), indicating a deep tenant pool that can support multifamily leasing and renewal activity.
Amenities are uneven: grocery access performs competitively among Canton-Massillon neighborhoods (rank 18 of 132; 78th percentile nationally) and restaurants are present (rank 21 of 132; 73rd percentile nationally), while cafes, parks, childcare, and pharmacies are limited in the immediate area. For investors, this points to day-to-day convenience anchored by essentials, with fewer discretionary amenity nodes nearby.
Home values in the neighborhood are on the lower end compared with national markets, which can make ownership relatively accessible; for multifamily investors, this may introduce some competition with entry-level ownership, but the strong neighborhood renter concentration helps sustain demand depth and supports lease retention. The rent-to-income profile (neighborhood-level) points to manageable affordability pressure, suggesting pricing decisions should emphasize retention and occupancy stability over aggressive near-term growth.
The building’s 2002 construction is newer than the neighborhood’s average vintage of 1955 (rank 89 of 132 for average year built), which can help the asset compete against older stock. Investors should still plan for age-appropriate systems updates and common-area refreshes to maintain positioning versus renovated comparables.
Within a 3-mile radius, demographics indicate a stable population with modest recent growth and a projected increase in both population and households by 2028, expanding the renter pool over time. Framed for investors, this trajectory supports occupancy stability and sustained renter demand rather than rapid lease-up dynamics, based on CRE market data from WDSuite.
Comparable, neighborhood-specific safety metrics were not available in WDSuite’s dataset for this location. Investors typically benchmark safety by reviewing city and county trend reports and comparing them to peer neighborhoods across the Canton-Massillon metro for context on leasing, retention, and insurance planning.
Nearby employers span insurance, manufacturing, utilities, and food products, supporting a diverse employment base that underpins renter demand and commute convenience for workforce housing.
- Erie Insurance Group — insurance (4.0 miles)
- Goodyear Tire & Rubber — tires & rubber manufacturing (17.2 miles) — HQ
- FirstEnergy — electric utility (19.5 miles) — HQ
- J.M. Smucker — food products (20.8 miles) — HQ
- International Paper Company — paper & packaging (29.2 miles)
This 42-unit, 2002-vintage asset offers a competitive position versus older neighborhood stock while benefiting from a high neighborhood renter-occupied share that deepens the tenant base. Neighborhood occupancy runs below the metro median, so performance may hinge on disciplined leasing and retention, but essential retail access (notably groceries) and proximity to diversified employers support steady day-to-day appeal. According to CRE market data from WDSuite, the surrounding 3-mile area is projected to see growth in households and rising rents, which can reinforce pricing power over a longer hold.
Investors should underwrite for mid-life capital planning—targeted systems upgrades and common-area refreshes—to sustain competitiveness against renovated peers. Given lower neighborhood home values, ownership alternatives are present; however, the strong renter concentration at the neighborhood level and a broad employment base can help stabilize occupancy through cycles.
- Newer 2002 vintage versus local stock supports competitive positioning with moderate capex
- High renter-occupied share at the neighborhood level signals depth of tenant demand
- Essential retail access and diversified nearby employers aid leasing stability
- 3-mile radius projections indicate household growth and rent tailwinds over time
- Risk: neighborhood occupancy trails metro median—plan for proactive retention and competitive unit finishes