| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 55th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4593 South Blvd NW, Canton, OH, 44718, US |
| Region / Metro | Canton |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2011-10-20 |
| Transaction Price | $5,400,000 |
| Buyer | FEDERAL HOME LOAN MORTGAGE CORPORATION |
| Seller | SENIAH CORP |
4593 South Blvd NW Canton Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and occupancy stability at the neighborhood level, based on CRE market data from WDSuite, supporting a pragmatic buy-and-hold or value-add strategy.
Positioned in Canton–Massillon’s inner suburbs, the immediate neighborhood ranks 2 out of 132 metro neighborhoods (A+), signaling top-tier local dynamics for a 24-unit asset. Dining density is a clear strength, with restaurants and cafes concentrated at levels that are competitive among metro peers, while grocery and pharmacy access are solid for daily needs. Park access appears limited, so residents may rely more on private or nearby community amenities.
Renter-occupied housing makes up a substantial share of units in the neighborhood (near 61%), indicating a deep tenant base that tends to support leasing velocity and retention. Neighborhood occupancy is in the low-90% range and has been broadly stable over the past five years, suggesting demand resilience even as supply and household composition evolve. Median contract rents are on the more accessible end for the region, which can temper turnover risk and sustain occupancy through cycles.
Within a 3-mile radius, population and household counts have been expanding and are projected to continue growing, pointing to a larger tenant base and ongoing renter pool expansion. Household incomes have moved higher alongside increases in median contract rent, and a moderate rent-to-income profile supports day-to-day affordability and potential lease retention.
The property’s 1972 vintage is older than the area’s average construction year (1990). For investors, that typically implies capital planning for building systems and interiors, but also potential for renovation-driven rent lifts given the area’s renter concentration and amenity access. Local home values are elevated relative to incomes by regional standards, which can reinforce reliance on multifamily housing and support durable rental demand.
Comparable neighborhood crime metrics are not available in the WDSuite dataset for this location. Investors should incorporate broader metro benchmarks, recent trend reviews, and property-level measures into standard diligence to contextualize safety at the neighborhood level.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, including insurance, manufacturing, consumer goods, utilities, and packaging. The organizations listed below are the notable nearby anchors by distance.
- Erie Insurance Group — insurance (0.9 miles)
- Goodyear Tire & Rubber — manufacturing (14.7 miles) — HQ
- J.M. Smucker — consumer foods (16.2 miles) — HQ
- FirstEnergy — electric utility (16.6 miles) — HQ
- International Paper Company — packaging & paper (24.7 miles)
4593 South Blvd NW offers investors an older, well-located asset in a neighborhood that performs near the top of the Canton–Massillon metro by rank, with strong amenity access and a deep base of renter-occupied housing. According to CRE market data from WDSuite, neighborhood occupancy trends hover around the low-90% range, with median rents that remain regionally accessible—conditions that can support steady leasing and retention while leaving room for targeted rent improvements.
Built in 1972, the property is positioned for practical value-add: modernization of interiors and systems can enhance competitiveness versus the area’s newer average stock. Within a 3-mile radius, population and household growth point to a larger tenant base ahead, while elevated ownership costs in the area, relative to incomes, can reinforce multifamily demand and bolster long-term occupancy stability.
- Top-tier neighborhood rank within the metro supports leasing stability
- Moderate rent levels and steady occupancy underpin retention
- 1972 vintage presents value-add potential through renovations and system upgrades
- 3-mile growth in population and households expands the renter pool over time
- Risks: older building capex needs, limited park access, and modest five-year occupancy softening at the neighborhood level