| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 66th | Best |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7040 Hills And Dales Rd NW, Canton, OH, 44708, US |
| Region / Metro | Canton |
| Year of Construction | 1975 |
| Units | 103 |
| Transaction Date | 1996-05-22 |
| Transaction Price | $2,300,000 |
| Buyer | RAYMOND L HENSEL |
| Seller | COLONY PARK APARTMENTS |
7040 Hills And Dales Rd NW Canton Multifamily Investment
Neighborhood occupancy is strong and renter demand appears durable, according to WDSuite’s CRE market data, with the area performing competitively within the Canton-Massillon metro. These metrics reflect neighborhood conditions rather than the property itself.
Positioned in an inner-suburb pocket of Canton rated A and ranked 7 of 132 metro neighborhoods, the area is competitive among Canton-Massillon neighborhoods and has supported steady leasing conditions. Neighborhood occupancy trends sit in the top quartile nationally, supporting stability for multifamily assets relative to broader U.S. markets, based on CRE market data from WDSuite.
Day-to-day livability is practical for renters: pharmacies and grocery options rank competitively within the metro (each within the better-performing cohort by rank out of 132), while restaurants are present though not dense. Parks and cafes are limited locally, which places more emphasis on property-level amenities to support retention.
Homeownership costs are elevated for the metro, and rent-to-income levels in the neighborhood suggest manageable affordability pressure, which can aid lease retention and pricing power without overextending tenants. The neighborhood’s renter concentration is about 36% of housing units being renter-occupied, indicating a meaningful, though not dominant, tenant base for multifamily properties.
Within a 3-mile radius, population and household counts have been rising and are projected to continue increasing, pointing to a larger renter pool over the medium term. Median household incomes in the 3-mile radius have been trending upward, which supports depth of demand for professionally managed units and helps sustain occupancy.
The average neighborhood building vintage skews newer than this asset. With a 1975 construction year compared to a neighborhood average closer to the mid-1980s, investors should plan for capital expenditures and consider value-add or modernization to maintain competitive positioning against the newer stock.
Comparable neighborhood crime metrics are not available from WDSuite for this location. Investors typically benchmark safety using multi-year city and county sources and police department reports, and compare neighborhood trends to the broader Canton-Massillon metro to understand relative risk and potential impacts on leasing and insurance.
Nearby employers span insurance, food manufacturing, industrials, and utilities, supporting a diverse workforce renter base and commute convenience for residents. The list below highlights notable employers proximate to the property that can reinforce leasing stability.
- Erie Insurance Group — insurance (2.6 miles)
- J.M. Smucker — food products (14.8 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (15.8 miles) — HQ
- FirstEnergy — utilities (17.5 miles) — HQ
- International Paper Company — packaging (23.2 miles)
This 103-unit, 1975-vintage asset benefits from a neighborhood that ranks 7 of 132 within the Canton-Massillon metro and shows top-quartile national occupancy performance, indicating resilient renter demand and potential for stable collections through cycles. According to CRE market data from WDSuite, local homeownership costs remain elevated for the metro while rent-to-income levels are manageable, a combination that supports tenant retention and balanced pricing power.
The 3-mile radius shows population and household growth with further increases expected, reinforcing a larger tenant base over time. Given the property’s older vintage relative to neighborhood norms, a targeted capital plan and value-add strategy can help the asset compete with newer stock and capture demand from nearby employment centers.
- Competitive neighborhood (rank 7 of 132) with top-quartile national occupancy supports leasing stability
- Elevated ownership costs and manageable rent-to-income dynamics underpin renter reliance and retention
- Growing 3-mile population and household counts expand the renter pool over the medium term
- 1975 vintage presents value-add and modernization opportunities to stay competitive versus newer stock
- Risk: Limited nearby parks/cafes and older systems may require amenity investment and ongoing CapEx