| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 70th | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1303 N Main St, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 2013 |
| Units | 20 |
| Transaction Date | 2012-01-30 |
| Transaction Price | $173,800 |
| Buyer | NORTH RIDGE PLACE LTD |
| Seller | NADERS REALTY INC |
1303 N Main St North Canton Multifamily Investment
Neighborhood occupancy is tight and renter demand is supported by solid amenities and schools, according to WDSuite’s CRE market data. This setting points to stable leasing with measured pricing power in North Canton.
The property sits in North Canton’s Inner Suburb context within the Canton-Massillon metro, where neighborhood occupancy remains high (metric is for the neighborhood, not the property). With a rank of 19 out of 132 metro neighborhoods and a national percentile near the top quartile, this location is competitive among Canton-Massillon neighborhoods and supports leasing stability for multifamily assets.
Livability signals are constructive for retention and leasing velocity. Neighborhood-level school ratings average 4.0 out of 5 (rank 9 of 132; top quartile nationally), which can bolster family-oriented renter demand. Amenities skew toward daily needs: grocery and pharmacy access rank 11 and 13 of 132 respectively, while restaurants rank 6 of 132; parks are also a relative strength (rank 5 of 132). Cafe density is limited, which modestly tempers lifestyle appeal.
Renter-occupied share at the neighborhood level is 37.3% (rank 31 of 132; above national norms), indicating a meaningful renter base without being renter-dominated. For investors, this suggests depth for multifamily leasing with some competition from ownership options.
Within a 3-mile radius, demographics indicate a stable tenant base with incremental growth. Population has inched up recently and is projected to increase further, while households are expected to rise more noticeably, indicating smaller household sizes and a larger pool of potential renters. These dynamics support occupancy stability and steady renewal prospects for well-managed assets.
Home values in the neighborhood are lower relative to national levels, and the rent-to-income ratio sits near mid-range. For investors, this combination typically supports retention and steady absorption, though it may limit near-term pricing power versus higher-cost submarkets. Median contract rents (neighborhood metric) are comparatively modest, reinforcing the importance of asset quality, amenities, and management execution to drive rent premiums.
Neighborhood-level crime metrics are not available in WDSuite for this area, so specific safety comparisons cannot be drawn here. Investors commonly benchmark the neighborhood against Canton-Massillon metro trends and corroborate with local sources to understand directionality and any recent shifts before underwriting.
Given the absence of quantified data, a prudent approach is to review multi-year metro and city trend lines, property-level security measures, and nearby institutional uses to contextualize risk at the neighborhood—not block—level.
The area benefits from a diversified employment base that can support renter demand and commute convenience, led by Erie Insurance Group, Goodyear Tire & Rubber, FirstEnergy, J.M. Smucker, and International Paper Company.
- Erie Insurance Group — insurance (3.3 miles)
- Goodyear Tire & Rubber — tire manufacturing & corporate (12.3 miles) — HQ
- FirstEnergy — electric utility (14.6 miles) — HQ
- J.M. Smucker — consumer foods (18.8 miles) — HQ
- International Paper Company — packaging & paper (27.6 miles)
Built in 2013, the 20-unit asset is newer than the neighborhood’s average vintage (1975), providing competitive positioning versus older local stock while still leaving room for selective modernization over the hold. Neighborhood occupancy is strong and renter concentration is meaningful, supporting leasing durability; at the same time, relatively modest neighborhood rents suggest measured rather than outsized pricing power.
Within a 3-mile radius, forecasts point to an increase in households and a rising income profile, expanding the tenant base and supporting renewal stability. Based on CRE market data from WDSuite, the neighborhood’s amenity set (daily-needs access and schools) aligns with workforce and family-oriented demand, while lower ownership costs in the area imply some competition with for-sale housing—placing a premium on property quality and management.
- 2013 vintage competes well against older area stock; targeted upgrades can capture renewal premiums.
- High neighborhood occupancy and a meaningful renter-occupied share support leasing stability.
- 3-mile household growth and rising incomes expand the renter pool and support retention.
- Daily-needs amenities and strong school ratings reinforce family-oriented demand.
- Risks: lower neighborhood rents and relatively accessible ownership options can moderate pricing power; confirm safety trends due to limited published crime data.