| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 62nd | Best |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4826 Cleveland Ave NW, Canton, OH, 44709, US |
| Region / Metro | Canton |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2022-10-31 |
| Transaction Price | $1,700,000 |
| Buyer | CHALET REORGANIZATION LLC |
| Seller | DEVILLE APARTMENTS LTD |
4826 Cleveland Ave NW Canton Multifamily Investment
Neighborhood occupancy is high and steady, according to WDSuite’s CRE market data for the surrounding area, pointing to durable cash flow potential for a well-run asset.
This suburban Canton location carries an A- neighborhood rating and ranks 26 out of 132 metro neighborhoods, indicating it is competitive among Canton-Massillon submarkets for multifamily investors. Neighborhood occupancy is reported at 98.1% (neighborhood metric), landing in the top quartile nationally and above the metro median, which supports leasing stability and reduces downtime risk.
Renter-occupied housing accounts for roughly a lower share at the neighborhood level, suggesting a thinner immediate tenant base; however, within a 3-mile radius, renter-occupied units represent an estimated 38.1% of housing, broadening the potential pool for this 24-unit property. Median contract rents in the neighborhood sit below many national peers while the rent-to-income ratio trends low, a combination that can support retention and measured pricing power without overextending residents. These signals align with multifamily property research showing that affordability supports occupancy durability.
Local retail density is modest, with limited cafes, groceries, and parks within the neighborhood footprint, though restaurant options are present. Median home values are elevated for the region, which can sustain renter reliance on multifamily housing by making ownership comparatively costlier, yet pricing remains well below major coastal markets. For an asset built in 1979—slightly older than the local average vintage—investors should plan for targeted capital improvements to remain competitive versus newer stock and to capture value-add upside.
Within a 3-mile radius, recent trends point to a stable population and an increase in households alongside smaller household sizes. Forward-looking projections indicate population growth and a meaningful increase in households, which implies a larger tenant base and supports occupancy stability over the hold period.
Comparable crime statistics for this specific neighborhood are not available in WDSuite for the current release. Investors typically benchmark safety by reviewing city and county trends, local law enforcement reports, and touring at different times of day to understand resident perceptions and property operations impact. Consider comparing any available neighborhood-level data with broader Canton-Massillon metrics to contextualize risk.
Regional employers provide a diversified employment base that can support renter demand and lease retention for workforce housing, including nearby insurance, manufacturing, utilities, and consumer goods offices noted below.
- Erie Insurance Group — insurance (2.3 miles)
- Goodyear Tire & Rubber — manufacturing & corporate (15.0 miles) — HQ
- FirstEnergy — utilities (17.3 miles) — HQ
- J.M. Smucker — consumer foods (19.4 miles) — HQ
4826 Cleveland Ave NW is a 24-unit asset with average unit sizes near 657 sq. ft., positioned in a competitive A- rated suburban neighborhood where occupancy is strong and affordability supports retention. Based on CRE market data from WDSuite, the neighborhood’s occupancy trend sits above metro norms, while low rent-to-income levels indicate room for disciplined revenue management without materially increasing turnover risk.
The 1979 vintage is slightly older than the area’s average stock, creating a clear value-add path through selective renovations and system updates to enhance competitive positioning. Demographics aggregated within a 3-mile radius point to stable population today and projected growth in both population and households, expanding the renter pool and supporting leasing over the long term. Limited walkable amenities in the immediate area are a consideration, but the broader employment base and accessible pricing dynamics help underpin demand.
- High neighborhood occupancy and competitive standing support leasing stability
- Low rent-to-income levels indicate potential for measured rent growth with retention
- 1979 vintage offers value-add and capital planning opportunities to enhance NOI
- 3-mile demographic outlook shows population and household growth, expanding the tenant base
- Risks: limited walkable amenities and a thinner immediate renter concentration require proactive leasing