| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 66th | Best |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3544 Wales Ave NW, Massillon, OH, 44646, US |
| Region / Metro | Massillon |
| Year of Construction | 1977 |
| Units | 40 |
| Transaction Date | 2013-09-09 |
| Transaction Price | $1,900,000 |
| Buyer | LIBERTY CREEK RENTAL LLC |
| Seller | WALES RIDGE LLC |
3544 Wales Ave NW, Massillon OH Multifamily Opportunity
Neighborhood occupancy is strong and has trended higher over the last five years, according to WDSuite s CRE market data, supporting stable cash flows for well-managed assets in this inner-suburban location.
The property sits in an Inner Suburb of the Canton Massillon metro with an A neighborhood rating (ranked 7 out of 132 metro neighborhoods), signaling competitive fundamentals among regional peers. Neighborhood occupancy is high (91st percentile nationally), suggesting durable renter demand and low turnover risk relative to many U.S. submarkets.
Renter-occupied housing accounts for a moderate share of local units (neighborhood measure), indicating a balanced tenant base that can support leasing without overreliance on one segment. Within a 3-mile radius, recent population and household growth has expanded the local renter pool, and forecasts point to additional household gains by 2028 a tailwind for future absorption and occupancy stability.
Ownership costs in the neighborhood are elevated relative to incomes (value-to-income sits in a high national percentile), which tends to sustain reliance on multifamily rentals and can support pricing power. At the same time, neighborhood rents benchmark below national levels (lower national percentile), aiding retention and limiting affordability pressure for typical renters.
Daily-needs access is a relative strength: groceries and pharmacies are competitive at the metro level (both above the metro median and near the national upper-middle percentiles), and childcare density ranks well for the metro. Restaurant options are adequate; park and cafe densities are limited, which may slightly temper lifestyle appeal but does not detract from core housing fundamentals for workforce-oriented demand.
The asset s 1977 vintage is older than the neighborhood s average construction year (1985 rank position competitive among 132), flagging routine capital planning and selective renovations as levers to enhance unit competitiveness and drive rent positioning against newer stock.
Direct neighborhood crime figures are not available in WDSuite for this location. Investors typically benchmark safety using comparative signals such as occupancy stability, daytime population from nearby employment centers, and tenant retention trends rather than block-level claims. As always, on-the-ground diligence and local management insights are recommended to contextualize security measures and operating practices.
Proximity to established employers supports a steady commuter tenant base and can aid retention: Erie Insurance Group, J.M. Smucker, Goodyear Tire & Rubber, FirstEnergy, and International Paper anchor regional jobs accessible within typical drive times.
- Erie Insurance Group insurance (3.6 miles)
- J.M. Smucker food products (13.7 miles) HQ
- Goodyear Tire & Rubber tires & rubber manufacturing (15.7 miles) HQ
- FirstEnergy electric utility (17.3 miles) HQ
- International Paper Company packaging & paper (22.1 miles)
This 40-unit, 1977-vintage asset benefits from a high-occupancy neighborhood with balanced renter concentration and steady population and household growth within a 3-mile radius. According to CRE market data from WDSuite, the neighborhood s occupancy performance ranks well versus metro peers and in the upper tier nationally, pointing to durable demand for well-maintained product. Elevated ownership costs relative to incomes reinforce reliance on rentals, while rent levels remain comparatively accessible, supporting retention and consistent collections.
Given its older vintage, a targeted value-add program kitchens, baths, in-unit amenities, and building systems may unlock rent repositioning against newer competition. At the same time, limited park and cafe density suggests the leasing story should emphasize convenience, schools, and commute access to nearby employers rather than lifestyle amenities.
- High neighborhood occupancy and stable demand trends support cash flow durability
- Balanced renter-occupied share provides depth without overconcentration
- Elevated ownership costs sustain renter reliance, while rents remain comparatively accessible for retention
- 1977 vintage offers value-add and modernization upside with focused capex
- Risk: limited parks/cafes and older systems require proactive asset management and targeted amenities