| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 52nd | Good |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3320 Cromer Ave NW, Canton, OH, 44709, US |
| Region / Metro | Canton |
| Year of Construction | 1982 |
| Units | 40 |
| Transaction Date | 2019-08-14 |
| Transaction Price | $125,030 |
| Buyer | PLAZA SENIOR APARTMENTS LLC |
| Seller | PLAZA APARTMENTS LTD |
3320 Cromer Ave NW Canton Multifamily Investment
Neighborhood occupancy is at the top of the Canton–Massillon metro, supporting stable renter demand, according to WDSuite’s CRE market data. Position in an inner-suburb pocket with everyday retail access offers practical leasing fundamentals without downtown price volatility.
Located in Canton’s Inner Suburb, the neighborhood is competitive among Canton–Massillon neighborhoods (ranked 37 out of 132) with a B+ rating, per WDSuite. Local dynamics point to steady multifamily performance driven by full neighborhood occupancy and a balanced renter base.
Amenity access is practical rather than lifestyle-driven. Grocery density ranks near the top of the metro (3rd of 132) and restaurants are plentiful (9th), while cafes, parks, and pharmacies are sparse. For investors, this mix favors everyday convenience for residents while signaling limited “third-place” appeal that may cap premium positioning.
Tenure data indicate a renter-occupied share around two-fifths of housing units in the neighborhood (42.2%), which supports a durable tenant base and leasing continuity. With a rent-to-income ratio near 13%, the area exhibits relatively manageable rent burdens that can aid retention and reduce turnover risk compared with higher-cost submarkets.
Demographics aggregated within a 3-mile radius show modest recent population growth and a 3.5% increase in households, with forecasts pointing to a sizable increase in households by 2028. If realized, that expansion would enlarge the renter pool and support occupancy stability and absorption of renovated units. Median home values are relatively low in context, which can introduce some competition from ownership; however, elevated mortgage costs in broader markets often sustain multifamily demand by comparison, particularly for well-managed workforce product.
The property’s 1982 vintage is slightly newer than the neighborhood’s average construction year (1975). That positioning can be competitive versus older stock, though investors should anticipate targeted modernization and systems updates to meet today’s renter expectations and sustain rent premiums.
Detailed crime rankings for this neighborhood were not available in WDSuite’s dataset. Investors typically benchmark neighborhood safety against metro and national patterns and review multi-year trends from local law enforcement and third-party providers to contextualize leasing risk and insurance planning.
Given strong occupancy at the neighborhood level, on-the-ground diligence—daypart visits, discussions with nearby operators, and review of recent incident trends—can help assess tenant retention implications and any security measures needed.
Proximity to established employers supports a steady workforce renter base and commute convenience, which can aid leasing and retention. Notable nearby employers include Erie Insurance Group, Goodyear, FirstEnergy, J.M. Smucker, and International Paper.
- Erie Insurance Group — insurance (2.95 miles)
- Goodyear Tire & Rubber — manufacturing & corporate (16.23 miles) — HQ
- FirstEnergy — utilities (18.52 miles) — HQ
- J.M. Smucker — food products (19.95 miles) — HQ
- International Paper Company — packaging & paper (28.38 miles)
3320 Cromer Ave NW offers a 40-unit footprint in an Inner Suburb location where neighborhood occupancy sits at the top of the metro, indicating solid demand depth and leasing stability. The area’s renter-occupied share around two-fifths supports a consistent tenant base, while grocery and restaurant density provide everyday convenience. The 1982 construction is slightly newer than the neighborhood average, positioning the asset to compete against older comparables with selective renovations to drive NOI.
Demographics aggregated within a 3-mile radius show recent household growth and forecasts indicating a sizable increase by 2028—favorable for renter pool expansion and absorption of improved units. At the same time, relatively low median home values can introduce competition from ownership, suggesting a pricing strategy focused on value for money and retention. According to commercial real estate analysis from WDSuite, the neighborhood’s low rent-to-income ratios point to manageable affordability pressure, which can support lease stability in a range-bound growth environment.
- Metro-leading neighborhood occupancy supports stable leasing and cash flow visibility
- Renter-occupied share and nearby employers underpin a durable tenant base
- 1982 vintage offers value-add potential to outperform older local stock
- Everyday convenience from strong grocery and dining density aids retention
- Risk: relatively low home values may compete with renting—manage with positioning, renovations, and service quality