| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 66th | Best |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6331 Groton St NW, Canton, OH, 44708, US |
| Region / Metro | Canton |
| Year of Construction | 1988 |
| Units | 62 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6331 Groton St NW Canton Multifamily Investment
Neighborhood occupancy is 98.4% (measured for the neighborhood, not the property), supporting income stability according to WDSuite’s CRE market data. Inner-suburb fundamentals and steady renter demand position this 62-unit asset for consistent operations.
The property sits in an Inner Suburb of Canton with an A-rated neighborhood profile and a rank of 7 among 132 metro neighborhoods, indicating competitive positioning within the Canton–Massillon area. Neighborhood occupancy is strong (98.4%; 22 of 132, top decile nationally at the 91st percentile), a backdrop that can support leasing stability and limit downtime.
Livability indicators are mixed but serviceable for workforce renters. Amenity access ranks 24 of 132 (competitive among Canton–Massillon neighborhoods) with solid proximity to groceries (65th national percentile) and pharmacies (75th), while parks and cafes are comparatively limited. Childcare density registers in the 73rd percentile nationally, a positive for households balancing commute and family needs. These dynamics suggest practical convenience more than lifestyle-driven demand.
Renter-occupied housing constitutes 35.9% of neighborhood units (measured as the share of housing units that are renter-occupied), implying a moderate renter concentration and a stable tenant base for multifamily. Median rents remain relatively manageable versus incomes (rent-to-income ratio near 0.11; 73rd percentile nationally), which can aid retention and reduce turnover risk. Elevated home values relative to income (value-to-income ratio in the 73rd percentile nationwide) point to a high-cost ownership market in the area, a factor that tends to reinforce reliance on rental housing and support pricing power over time.
Demographic statistics within a 3-mile radius show recent population and household growth with projections through 2028 indicating additional population and household expansion, implying a larger tenant base and potential renter pool expansion. For investors conducting multifamily property research, these growth signals—paired with strong neighborhood occupancy—support a constructive demand outlook. The asset’s 1988 vintage is slightly newer than the area’s average construction year (1985), which may offer incremental competitive positioning versus older stock, though targeted system upgrades or modernization could still unlock value and support rent premiums.
Neighborhood-level crime metrics are not available in WDSuite for this location at the time of publication. Without verified figures, it is prudent to benchmark the area against broader Canton–Massillon trends and monitor updated releases before underwriting assumptions tied to security, insurance costs, or on-site measures.
Investors can incorporate standard risk controls—such as lighting, access controls, and resident engagement—while tracking future data updates to refine assumptions on retention and operating expenses.
Proximity to regional employers supports a diversified renter base and commute convenience, led by insurance and industrial anchors alongside multiple corporate headquarters listed below.
- Erie Insurance Group — insurance (1.9 miles)
- J.M. Smucker — food manufacturing HQ & offices (15.5 miles) — HQ
- Goodyear Tire & Rubber — manufacturing & corporate (15.6 miles) — HQ
- FirstEnergy — utilities & corporate (17.4 miles) — HQ
- International Paper Company — paper & packaging (23.9 miles)
This 62-unit, 1988-vintage asset benefits from a strong Inner Suburb location where neighborhood occupancy ranks above the metro median (22 of 132) and in the top decile nationally, supporting income durability and lower expected downtime. Renter-occupied share near 36% indicates a balanced but reliable tenant base, while a rent-to-income profile in the upper national percentiles suggests manageable rent burdens that can aid retention and smooth lease management.
Elevated ownership costs relative to incomes locally help sustain multifamily demand, and 3-mile demographic trends point to population and household growth—expanding the prospective renter pool. According to CRE market data from WDSuite, neighborhood fundamentals compare favorably versus many Canton–Massillon peers, while the property’s slightly newer vintage versus area norms offers competitive positioning with potential value-add through targeted modernization and systems upgrades.
- High neighborhood occupancy supports leasing stability and lower turnover risk
- Balanced renter concentration provides a dependable tenant base
- Elevated ownership costs reinforce multifamily demand and pricing power
- 1988 vintage offers competitive positioning with value-add potential via targeted upgrades
- Risks: limited park/cafe amenities and capex for aging systems may be needed