| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 70th | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1215 N Main St, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 1985 |
| Units | 58 |
| Transaction Date | 2013-05-02 |
| Transaction Price | $3,300,000 |
| Buyer | WILDCAT IX LLC |
| Seller | TRITEX REAL ESTATE ADVISORS INC |
1215 N Main St, North Canton Multifamily Investment
Neighborhood occupancy is strong and amenities are convenient, supporting steady renter demand according to WDSuite s CRE market data. This submarket s stability positions the asset for consistent operations rather than outsized volatility.
Located in North Canton s inner-suburban fabric, the property sits in a neighborhood rated A+ and ranked 3 out of 132 Canton-Massillon neighborhoods, indicating performance that is competitive metro-wide. Neighborhood occupancy is reported at 99.5% (top quartile among 132 metro neighborhoods and high nationally), signaling tight conditions that can support leasing stability at the property level without implying the asset s own occupancy.
The 1985 vintage is newer than the neighborhood s average construction year of 1975. For investors, this mid-1980s build should be comparatively competitive versus older stock, while still warranting targeted capital planning for systems modernization or value-add finishes to maintain positioning.
Livability drivers are solid: grocery access ranks 11 of 132 (84th percentile nationally), restaurants 6 of 132 (83rd percentile), parks 5 of 132 (88th percentile), and average school ratings approximate 4.0/5 (rank 9 of 132; 84th percentile). Cafe density is light, but the mix of daily-needs retail, parks, and schools supports renter convenience relative to many Canton-Massillon submarkets.
Renter-occupied housing represents 37.3% of neighborhood units (above the metro median given a rank of 31 of 132), implying a meaningful tenant base. Within a 3-mile radius, renter concentration is 31.9% alongside a median contract rent near the low-to-mid $800s and a rent-to-income ratio around 0.15, which suggests moderate affordability pressure and generally manageable retention risk. Median home values are lower relative to national markets (22nd percentile), which can introduce some competition from ownership; however, elevated neighborhood occupancy and steady demand indicators offset near-term leasing risk.
Demographic statistics are aggregated within a 3-mile radius: population grew about 1% over the last five years while households expanded roughly 6.8%, pointing to smaller average household sizes and a broader leasing pool. Projections call for continued population growth (~3.5%) and a notable increase in households by 2028, supporting a larger tenant base and potential absorption of renovated units, based on CRE market data from WDSuite.
Comparable neighborhood and national crime metrics are not available in WDSuite for this location, so investors should benchmark safety using multiple signals rather than block-level assumptions. Many investors triangulate neighborhood quality via sustained high neighborhood occupancy (top quartile among 132 metro neighborhoods), strong school ratings (ranked 9 of 132), and amenity access (grocery, parks, pharmacies) while supplementing with third-party crime data and local management insights.
Nearby employers provide a diversified white-collar and industrial base that can support renter demand and retention, including Erie Insurance Group, Goodyear Tire & Rubber, FirstEnergy, and J.M. Smucker.
- Erie Insurance Group corporate offices (3.3 miles)
- Goodyear Tire & Rubber corporate offices (12.4 miles) HQ
- FirstEnergy corporate offices (14.7 miles) HQ
- J.M. Smucker corporate offices (18.9 miles) HQ
- International Paper Company corporate offices (27.7 miles)
This 58-unit, mid-1980s asset pairs tight neighborhood fundamentals with practical value-add potential. Neighborhood occupancy is among the strongest in the Canton-Massillon metro and sits in a high national percentile, which supports leasing stability. The average unit size of roughly 537 square feet suggests a compact mix that can appeal to cost-conscious renters and help maintain competitive effective rents. According to CRE market data from WDSuite, nearby amenities and above-median school quality further reinforce day-to-day livability advantages for renters.
Investor considerations include a renter-occupied share that is meaningful but not dominant in the immediate area, and relatively accessible home values that could compete with entry-level rentals. These factors argue for disciplined renovations, focused on durability and rent-responsive finishes, to sustain absorption and retention while managing affordability pressure.
- Tight neighborhood occupancy and strong amenity access support leasing stability
- 1985 vintage offers targeted value-add and systems modernization opportunities
- Compact average unit size can bolster demand from cost-conscious renters
- 3-mile population and household growth projections expand the tenant base
- Risk: accessible ownership options and modest renter concentration may temper rent growth