| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 45th | Fair |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 881 1st St NE, Massillon, OH, 44646, US |
| Region / Metro | Massillon |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 1995-10-16 |
| Transaction Price | $370,000 |
| Buyer | BUSBY BARRY T |
| Seller | ZERBI MARY M |
881 1st St NE Massillon Multifamily Investment
Neighborhood renter-occupied share is elevated, supporting a deeper tenant base and stable leasing conditions, according to WDSuite’s CRE market data. The property’s submarket benefits from steady household growth, which can reinforce occupancy over the cycle.
Located in Massillon within the Canton–Massillon metro, the immediate neighborhood is rated B- and sits at rank 68 of 132, indicating performance near the metro midpoint. Amenity access is mixed: restaurants are competitive among Canton–Massillon neighborhoods (rank 15 of 132), while day-to-day retail like groceries, pharmacies, and cafes are limited within the neighborhood boundary, suggesting residents rely on nearby corridors for errands.
Parks are a local strength, with the area ranking 1 of 132 in the metro and in the top quartile nationally for park availability, which supports livability and resident retention. The average neighborhood construction year skews older (1916), making a 1978-vintage asset relatively newer than much of the surrounding stock—an advantage for leasing competitiveness, while still warranting attention to systems and common-area updates over time.
On housing dynamics, neighborhood occupancy is around 89%, which is below the metro median, signaling some competitive lease-up conditions. At the same time, renter concentration is in the top quartile among 132 metro neighborhoods (renter-occupied share of housing units at 39.5%), pointing to a solid base of multifamily demand.
Within a 3-mile radius, population has grown modestly over the last five years and households have increased faster than population, indicating smaller household sizes and a broader renter pool. Median contract rents in the 3-mile radius remain accessible relative to incomes, and the neighborhood’s rent-to-income ratio (about 13%) suggests manageable affordability today, supporting lease retention and measured pricing power. Home values are relatively low versus national norms, which can introduce some competition from ownership; investors should balance this against renter demand depth and amenity-driven retention.
Current neighborhood-level crime data is not available in WDSuite for this location, so investors should benchmark property-level security practices and recent leasing experience against broader Massillon and Canton–Massillon metro trends. When comparable submarkets show improving safety metrics, assets can see steadier renewals; if regional trends are flat or mixed, underwriting should emphasize conservative retention and turnover assumptions.
The area draws on a diversified employment base that supports renter demand and commute convenience, including insurance, food manufacturing, industrials, and utilities. Key nearby employers include Erie Insurance Group, J.M. Smucker, Goodyear Tire & Rubber, FirstEnergy, and International Paper Company.
- Erie Insurance Group — insurance (5.4 miles)
- J.M. Smucker — food products (12.8 miles) — HQ
- Goodyear Tire & Rubber — tire & rubber manufacturing (17.6 miles) — HQ
- FirstEnergy — electric utility (19.1 miles) — HQ
- International Paper Company — paper & packaging (20.9 miles)
881 1st St NE is a 1978-vintage, 20-unit multifamily property positioned in a neighborhood with a top-quartile renter-occupied share among metro peers, indicating a deeper tenant base for small and mid-size assets. Neighborhood occupancy trends are below the metro median, but steady household growth within a 3-mile radius and strong park access help support resident retention and leasing durability. Based on CRE market data from WDSuite, rent levels remain manageable relative to incomes locally, which can sustain absorption while allowing for disciplined rent steps.
The asset is relatively newer than the area’s older housing stock, offering competitive positioning versus pre-war properties while still requiring ongoing capital planning for aging systems and common areas. Nearby employment nodes across insurance, food products, utilities, and manufacturing broaden the renter pool and help stabilize demand through cycles.
- Elevated renter concentration vs. metro supports tenant base depth
- 1978 vintage is newer than surrounding stock, aiding competitiveness with prudent CapEx
- Household growth within 3 miles expands the renter pool and supports occupancy stability
- Proximity to diversified employers underpins leasing and renewal potential
- Risks: neighborhood occupancy below metro median and relatively accessible ownership options can pressure leasing