| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 66th | Best |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3626 Wales Ave NW, Massillon, OH, 44646, US |
| Region / Metro | Massillon |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2013-09-09 |
| Transaction Price | $850,000 |
| Buyer | LIBERTY CREEK RENTAL LLC |
| Seller | YORKSHIRE APARTMENTS LLC |
3626 Wales Ave NW Massillon 24‑Unit Multifamily
Neighborhood occupancy remains consistently high and renter demand is supported by stable suburban fundamentals, according to WDSuite’s CRE market data. The property’s 1979 vintage suggests potential renovation upside relative to newer nearby stock.
Situated in an inner-suburb pocket of Massillon within the Canton–Massillon metro, the neighborhood is rated A and ranks 7 out of 132 metro neighborhoods — a position that places it in the top quartile locally. According to WDSuite’s CRE market data, neighborhood occupancy is strong and competitive among Canton–Massillon neighborhoods (rank 22 of 132; top quartile nationally by percentile), which points to resilient tenant retention potential at the submarket level rather than at the property level.
Daily needs are reasonably served: grocery and pharmacy access track above the metro median (ranks 32 and 10 out of 132, respectively), while restaurants are competitive among metro peers. Childcare density is also above the metro median (rank 14 of 132). By contrast, parks and cafes are limited in this neighborhood (both rank 132 of 132), which may temper some lifestyle appeal but typically has modest impact on workforce housing demand.
Ownership costs are elevated relative to local incomes (value-to-income ratio ranks 3 of 132; 73rd percentile nationally), which tends to reinforce reliance on rental housing and can support pricing power over time. At the same time, the neighborhood’s rent-to-income levels sit in a favorable range (73rd percentile nationally), suggesting lower affordability pressure and potential for steadier lease performance versus higher-burden submarkets.
Tenure patterns indicate a moderate renter concentration at the neighborhood level (about one‑third of housing units are renter‑occupied), signaling a meaningful but not saturated tenant base for multifamily operators. Within a 3‑mile radius, WDSuite data shows recent household growth and a projected increase in households over the next five years, which implies a larger renter pool and supports occupancy stability across comparable assets.
Vintage context: the property was built in 1979, slightly older than the neighborhood’s average construction year of 1985 (rank 18 of 132). For investors, this tilt toward older stock can present value‑add opportunities through targeted unit renovations and system upgrades to stay competitive with newer comparables.
Comparable investors often benchmark neighborhood safety relative to the broader Canton–Massillon region. For this location, WDSuite’s current dataset does not provide neighborhood‑level crime ranks or national percentiles. Without that signal, investors typically rely on standard diligence — including local trend reviews, jurisdictional reports, and property‑specific incident histories — to contextualize risk alongside leasing performance and retention indicators.
The area draws on a diversified employment base that supports commuter convenience and multifamily demand, including insurance, packaged foods, energy utilities, and manufacturing. Nearby anchors include Erie Insurance Group, J.M. Smucker, Goodyear Tire & Rubber, FirstEnergy, and International Paper Company.
- Erie Insurance Group — insurance (3.5 miles)
- J.M. Smucker — packaged foods (13.8 miles) — HQ
- Goodyear Tire & Rubber — tires & rubber manufacturing (15.6 miles) — HQ
- FirstEnergy — electric utility (17.2 miles) — HQ
- International Paper Company — paper & packaging (22.2 miles)
This 24‑unit asset combines solid suburban fundamentals with potential value‑add upside. Neighborhood occupancy trends are competitive among Canton–Massillon submarkets and sit in the top quartile nationally by percentile, which supports a case for stable tenancy and steady leasing. According to CRE market data from WDSuite, elevated ownership costs relative to incomes in the neighborhood reinforce renter reliance on multifamily housing, while rent-to-income metrics suggest manageable affordability pressure that can aid retention.
Built in 1979, the property is slightly older than the neighborhood average, positioning a renovation program to enhance interiors and address aging systems where needed. Within a 3‑mile radius, recent household growth and a projected increase in households point to a larger tenant base over the medium term, which can support occupancy stability and leasing velocity versus older, undifferentiated stock. Investors should balance these strengths against lifestyle amenity gaps (few parks/cafes) and capex planning typical for assets of this vintage.
- Competitive neighborhood occupancy and top‑quartile national standing support leasing stability
- Elevated ownership costs sustain renter demand; favorable rent‑to‑income conditions aid retention
- 1979 vintage offers value‑add potential via renovations and selective system upgrades
- Growing 3‑mile household base expands the tenant pool, supporting long‑term absorption
- Risks: older building systems and limited park/cafe amenities may require capex and leasing strategy