| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 70th | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 123 Sheraton Dr NW, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 2007-05-23 |
| Transaction Price | $1,106,000 |
| Buyer | 1817 WOODBURY AVENUE LLC |
| Seller | RISMAN ROBERT G |
123 Sheraton Dr NW, North Canton Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and high occupancy stability, according to WDSuite’s CRE market data. A suburban location with strong schools and daily-needs access supports consistent leasing for a 20-unit asset.
This Inner Suburb location in North Canton offers daily-needs convenience and family-friendly appeal that supports multifamily demand. Neighborhood schools are rated strong for the metro (top quartile nationally), and access to groceries, pharmacies, parks, and restaurants is competitive among Canton–Massillon neighborhoods (ranks near the top out of 132 metro neighborhoods). Cafés are limited, but overall amenity coverage trends above national midpoints.
Rents in the neighborhood sit below national medians, which helps sustain occupancy and broadens the tenant base. The neighborhood s occupancy is very high (measured for the neighborhood, not the property) and sits in the top national percentiles, suggesting low near-term vacancy risk and steadier cash flow potential versus many peer locations.
Tenure patterns point to a balanced renter pool: the share of housing units that are renter-occupied is a bit over one-third, indicating depth without overconcentration. For investors, this mix can support leasing velocity while still benefiting from a stable ownership presence in the surrounding housing stock.
Demographic indicators aggregated within a 3-mile radius show modest population growth historically and a projected increase ahead, alongside an uptick in total households and smaller average household sizes. These trends imply a larger tenant base and continued demand for rental units, which can support occupancy and renewals. While home values are lower relative to national norms, that ownership landscape can introduce some competition from entry-level buying; however, it also tends to reinforce renter reliance on multifamily housing when priced appropriately.
Neighborhood-level crime metrics are not available from WDSuite for this specific area. Investors typically benchmark local safety conditions against Canton–Massillon norms and corroborate with municipal data and property-level history to assess leasing and retention implications.
Proximity to regional employers supports a stable workforce-renter base and practical commute patterns, notably in insurance, manufacturing, utilities, food products, and packaging. The employers below represent nearby drivers of jobs that can underpin leasing and retention for workforce housing.
- Erie Insurance Group insurance (2.3 miles)
- Goodyear Tire & Rubber corporate/manufacturing (12.9 miles) HQ
- FirstEnergy electric utility (15.1 miles) HQ
- J.M. Smucker food products (18.1 miles) HQ
- International Paper Company packaging & paper (26.8 miles)
The property benefits from neighborhood-level occupancy that trends in the top national percentiles, indicating durable demand drivers relative to the Canton–Massillon metro. Daily-needs access (groceries, pharmacies, parks) and strong school ratings position the area to capture a broad renter profile, while below-national rents support leasing depth and reduce downside exposure. Based on commercial real estate analysis from WDSuite, these fundamentals point to steady tenant retention potential.
Within a 3-mile radius, modest population growth and a meaningful increase in household counts, alongside smaller average household sizes, indicate a gradually expanding renter pool. Nearby anchor employers across insurance, manufacturing, utilities, and consumer products add commute convenience and diversify job exposure. Key risks include competition from relatively attainable homeownership in the area and the natural variability that comes with a 20-unit asset, which can influence year-to-year NOI.
- High neighborhood occupancy and below-national rents support leasing stability
- Strong schools and daily-needs amenities enhance renter appeal
- Expanding household base within 3 miles implies a larger tenant pool
- Proximity to diverse regional employers supports demand resilience
- Risks: entry-level ownership competition and small-asset NOI variability