| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 55th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4481 South Blvd NW, Canton, OH, 44718, US |
| Region / Metro | Canton |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2011-10-20 |
| Transaction Price | $5,400,000 |
| Buyer | FEDERAL HOME LOAN MORTGAGE CORPORATION |
| Seller | SENIAH CORP |
4481 South Blvd NW Canton Value-Add Multifamily
Located in Canton’s inner-suburb corridor, the submarket shows a high renter-occupied share and mid-range occupancy that supports durable tenant demand, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood rated A+ within the Canton–Massillon metro, offering day-to-day convenience that supports leasing. Dining and café density are competitive among 132 metro neighborhoods (restaurants rank 3rd and cafés 4th), and both sit in the low‑90s national percentiles, indicating strong amenity access relative to neighborhoods nationwide. Grocery and pharmacy availability track above the national mid-range. Park access is limited within the neighborhood, which may modestly affect lifestyle appeal but is often offset by retail and services concentration.
Neighborhood occupancy is near the national mid-range, while renter-occupied housing accounts for a high share of units (ranked 5th of 132; mid‑90s national percentile). For investors, that renter concentration signals depth of the tenant base and supports ongoing multifamily demand. Median asking rents in the neighborhood benchmark below national levels (mid‑30s percentile), which can aid retention but may temper immediate pricing power. Value-to-income ranks 2nd of 132 (upper‑70s national percentile), reflecting a relatively high-cost ownership landscape locally that tends to sustain reliance on rental housing.
Vintage matters here: the neighborhood’s average construction year is 1990 (ranked 9th of 132; around the 70th national percentile). With a 1973 asset, investors should underwrite for targeted capital improvements or a value‑add plan to sharpen competitiveness against newer stock. This framing is based on commercial real estate analysis from WDSuite and typical positioning of 1970s buildings versus later‑vintage comparables.
Within a 3‑mile radius, demographics point to steady demand: population and households have grown in recent years, with forecasts calling for additional population gains and a notable increase in households over the next five years. Rising median incomes alongside projected rent growth indicate an expanding renter pool and support for occupancy stability and disciplined rent management. These dynamics suggest manageable affordability pressure and potential for measured revenue growth rather than outsized swings.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically contextualize safety by comparing local trends to broader city and county reports, touring at different times of day, and aligning on property-level measures (lighting, access control) as part of standard risk assessment.
Nearby employers provide a diversified white‑collar and industrial base that can support tenant demand and retention, led by insurance, manufacturing, and utilities represented below.
- Erie Insurance Group — insurance offices (0.9 miles)
- Goodyear Tire & Rubber — manufacturing & corporate (14.8 miles) — HQ
- J.M. Smucker — food products corporate (16.2 miles) — HQ
- FirstEnergy — utilities corporate (16.7 miles) — HQ
- International Paper Company — paper & packaging offices (24.7 miles)
4481 South Blvd NW offers a classic 1973, 24‑unit footprint positioned in a high‑amenity inner‑suburb setting where renter-occupied housing is elevated relative to the metro. Neighborhood occupancy trends sit around the national mid-range, but strong food-and-beverage density and above‑average convenience help sustain leasing velocity. The asset’s earlier vintage versus a 1990 neighborhood average suggests clear value‑add potential through unit and systems upgrades to improve competitive standing against newer stock. According to CRE market data from WDSuite, a relatively high value‑to‑income profile locally reinforces reliance on multifamily, supporting demand depth and lease retention.
At the 3‑mile level, population and household growth are expected to continue, with incomes trending higher and rents projected to rise. These signals point to a larger tenant base and support for steady cash flow, provided investors plan for measured capital improvements and proactive lease management.
- High renter-occupied share and amenities support stable multifamily demand
- 1973 vintage creates value‑add potential versus 1990 neighborhood average
- 3‑mile population, household, and income growth expand the tenant base
- Ownership costs relatively high locally, reinforcing reliance on rentals
- Risks: mid‑range occupancy and aging systems require CapEx and active management