| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 45th | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 125 David Canary Dr SW, Massillon, OH, 44647, US |
| Region / Metro | Massillon |
| Year of Construction | 2011 |
| Units | 52 |
| Transaction Date | 2010-05-28 |
| Transaction Price | $400,000 |
| Buyer | MASSILLON SENIOR LLC |
| Seller | FRATERNAL ORDER OF EAGLES #190 OF MASSIL |
125 David Canary Dr SW Massillon Multifamily Investment
2011-vintage, 52-unit asset positioned in an amenity-rich inner suburb where renter concentration is high, supporting a deeper tenant base and steady leasing. Location and vintage provide competitive positioning versus the area’s older housing stock, according to WDSuite’s CRE market data.
Massillon’s inner-suburb setting around 125 David Canary Dr SW ranks 9 out of 132 metro neighborhoods (A-rated), placing it in the top quartile locally for overall neighborhood quality. Amenity access is a clear strength: restaurants, cafes, groceries, parks, and pharmacies score in high national percentiles, which typically supports resident convenience and lease retention.
The neighborhood’s renter-occupied share is elevated (ranked 6 of 132; high national percentile), signaling a large base of households that rely on rental housing—positive for multifamily demand depth and everyday leasing velocity. In contrast, the broader 3-mile area is more owner-leaning, which can limit direct competition among rentals while still drawing demand from households that prefer professionally managed communities.
Occupancy at the neighborhood level sits near the national middle based on percentile, but has improved over the past five years, a trend that supports stability for well-positioned assets. Given the property’s 2011 construction versus a local housing stock that skews much older on average, investors can expect a relative competitive edge against legacy buildings, while planning for mid-life system updates as part of capital management.
Within a 3-mile radius, households have grown in recent years and are projected to continue expanding through the next cycle, indicating a gradual renter pool expansion that can underpin occupancy stability. Median home values in the area are lower relative to national benchmarks, which can introduce some competition from ownership alternatives; however, rent-to-income levels track on the lower side, suggesting moderated affordability pressure and more durable renewal behavior for appropriately positioned product.
Comparable neighborhood crime data are not available in WDSuite for this location. Investors should review city and metro trend resources and consult local law enforcement reports to contextualize safety alongside property operations. As with any submarket, prudent underwriting can incorporate security measures, lighting, and resident engagement aligned to observed conditions.
Proximity to a diversified employer base supports commute convenience and renter retention, including insurance, food manufacturing, utilities, and industrial operators noted below.
- Erie Insurance Group — insurance (5.9 miles)
- J.M. Smucker — food manufacturing (13.1 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (18.4 miles) — HQ
- FirstEnergy — utilities (19.9 miles) — HQ
- International Paper Company — paper & packaging (20.9 miles)
Built in 2011 with 52 units averaging large floor plans, the asset offers a competitive profile amid a neighborhood where many comparables are older. Strong amenity density and a high neighborhood renter concentration support day-to-day leasing and a deeper tenant base. Neighborhood occupancy trends have firmed toward the national middle, and household growth within 3 miles points to gradual renter pool expansion that can reinforce stability. According to CRE market data from WDSuite, ownership costs in the area are comparatively lower, which can introduce competition from for-sale options, but rent-to-income levels suggest moderated affordability pressure and balanced pricing power for well-managed communities.
The 2011 vintage reduces near-term heavy capex risk relative to older stock while leaving room for targeted value-add through unit modernization and common-area upgrades as systems reach mid-life. Proximity to diversified employers (insurance, manufacturing, utilities) further supports retention and leasing velocity.
- 2011 construction offers relative competitiveness versus older neighborhood stock with manageable mid-life capital planning
- High neighborhood renter concentration deepens the tenant base and supports leasing
- Amenity-rich inner-suburb location supports retention and everyday convenience
- 3-mile household growth and diversified nearby employers underpin occupancy stability
- Risk: lower ownership costs may compete with rentals; pricing power depends on asset quality and management execution