| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Fair |
| Demographics | 21st | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 223 2nd St SW, Massillon, OH, 44646, US |
| Region / Metro | Massillon |
| Year of Construction | 1978 |
| Units | 98 |
| Transaction Date | 2008-03-11 |
| Transaction Price | $2,660,000 |
| Buyer | RIVERVIEW SENIOR HOUSING LTD |
| Seller | RIVERVIEW TOWERS APARTMENTS INC |
223 2nd St SW, Massillon OH Multifamily Investment
1978 vintage with a sizable renter-occupied presence nearby supports steady tenant sourcing, according to WDSuite’s CRE market data, while the asset’s newer-than-neighborhood stock positions it competitively versus older options.
Located in Massillon’s Inner Suburb fabric (neighborhood rating C+), the property sits in a sub-area that is competitive among Canton–Massillon’s 132 neighborhoods on overall amenities (rank 35 of 132). Parks are a relative strength, with park access performing in the top quartile nationally (94th percentile), and grocery access is above the metro median (rank 27 of 132). Café and pharmacy options are thinner within the immediate neighborhood, which suggests residents may rely on nearby corridors for certain conveniences.
The neighborhood skews toward rental housing with a renter-occupied share that ranks 20 out of 132 in the metro (above metro median), indicating depth in the tenant base for multifamily owners. By contrast, neighborhood occupancy levels trend in the lower tier within the metro (rank 126 of 132), so leasing stability will hinge on competitive positioning and effective operations.
Demographic statistics aggregated within a 3-mile radius point to a stable-to-expanding renter pool: households have grown in recent years and are projected to rise further over the next five years, which supports tenant sourcing and renewal prospects even if turnover remains active. Median contract rents in the 3-mile area remain relatively accessible versus national levels, providing pricing room for well-maintained product while still requiring attention to lease management.
Homeownership costs in the neighborhood context are comparatively lower than many U.S. markets, which can create some competition with entry-level ownership; however, this also supports steady apartment demand among residents prioritizing flexibility and predictable housing costs. Rent-to-income indications in neighborhood data suggest some affordability pressure, making amenity-light but well-managed properties with pragmatic upgrades more defensible on retention.
Comparable safety data for this specific neighborhood is not available in the current WDSuite release. Investors typically benchmark neighborhood safety against metro and national trends and monitor multi-year trajectories rather than single-year snapshots.
Given the lack of publishable rank or percentile figures for this area among the 132 metro neighborhoods, prudent underwriting would incorporate on-the-ground diligence and management practices that reinforce resident comfort and leasing stability.
Nearby employers span insurance, food manufacturing, industrials, and utilities, supporting a diversified workforce and commute convenience for renters who prioritize access to Canton–Akron employment nodes. The list below reflects key drivers within practical commuting distance: Erie Insurance Group, J.M. Smucker, Goodyear Tire & Rubber, FirstEnergy, and International Paper.
- Erie Insurance Group — insurance (5.9 miles)
- J.M. Smucker — food products (13.1 miles) — HQ
- Goodyear Tire & Rubber — tire & rubber manufacturing (18.5 miles) — HQ
- FirstEnergy — electric utility (20.0 miles) — HQ
- International Paper Company — paper & packaging (20.9 miles)
Constructed in 1978, this 98-unit asset offers a materially newer profile than much of the surrounding neighborhood’s older housing stock, positioning it well with renters seeking practical finishes and functional layouts. Average unit sizes around 818 square feet support livability at attainable rents, while a sizable renter-occupied presence in the neighborhood underpins day-to-day leasing. According to CRE market data from WDSuite, local occupancy trends sit below metro leaders, so results should be driven by asset-specific execution: maintenance, targeted renovations, and disciplined leasing.
Within a 3-mile radius, households have grown and are projected to expand further, pointing to a larger tenant base over the next five years. Ownership remains relatively accessible in this market, which can introduce competition at certain rent levels, but it also supports renter reliance on apartments for flexibility. Neighborhood-level rent-to-income indications point to affordability pressure, suggesting investors should emphasize value-focused upgrades and careful renewal strategies to sustain retention.
- 1978 vintage offers value-add and modernization potential versus older neighborhood stock
- Renter-occupied concentration nearby supports tenant sourcing and leasing velocity
- 3-mile household growth and projected expansion reinforce demand and renewal prospects
- Attainable rents with functional unit sizes enhance competitiveness against older supply
- Risks: below-metro neighborhood occupancy and affordability pressure require disciplined operations and pricing