| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 72nd | Best |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1685 Beechwood Ave NE, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2023-09-28 |
| Transaction Price | $2,000,000 |
| Buyer | D & M MANAGEMENT LLC |
| Seller | LEE FAMILY REAL ESTATE LLC |
1685 Beechwood Ave NE North Canton Multifamily Investment
Neighborhood occupancy appears steady with a relatively deep renter base for the area, according to WDSuite’s CRE market data, supporting screening for income-focused holds.
Located in North Canton’s inner-suburban fabric, the property sits in a neighborhood rated A and ranked 13th of 132 within the Canton–Massillon metro—competitive among metro peers and above the metro median. Restaurant density ranks 11th of 132, indicating convenient dining options nearby, while childcare access also scores well compared with the metro. By contrast, cafes, parks, groceries, and pharmacies are sparse locally, so residents likely rely on short drives for daily needs rather than walkable retail.
For renters, the neighborhood’s occupancy is above the national midpoint (64th percentile), and the share of housing units that are renter-occupied is high relative to U.S. neighborhoods (85th percentile). This supports a deeper tenant base and generally aids leasing continuity for a 24-unit asset. Median contract rents benchmark around the national middle, which can help sustain demand without significant affordability pressure, and the local rent-to-income ratio also sits near the national midpoint—favorable for retention and renewal strategies.
Construction skews newer in the surrounding neighborhood than this asset (average 1989 versus the property’s 1978 vintage). That gap points to clear value-add angles—modernization and systems updates—to remain competitive against younger stock while managing capital plans prudently.
Demographics aggregated within a 3-mile radius show a recent period of flat-to-soft population change but an increase in total households, alongside a trend toward smaller average household sizes. Forward-looking projections indicate modest population growth and a sizable increase in households, which can translate into a larger tenant base and support occupancy stability. Household incomes in the 3-mile radius have risen, and home values in the neighborhood sit around the national mid-to-upper range, suggesting a high-cost ownership market is not required to maintain rental demand, but positioning and finishes should remain competitive with attainable for-sale options.
Comparable neighborhood safety data are not reported in the provided WDSuite snapshot for this location. Investors should benchmark on-the-ground observations and any available municipal statistics against Canton–Massillon metro norms to understand relative positioning and trend direction rather than block-level claims.
A prudent approach is to compare recent neighborhood-level crime trends to broader metro results and to corroborate with property operations data (traffic quality, incident reports, retention). This helps frame risk in context without overreliance on isolated anecdotes.
Nearby employment nodes span insurance, manufacturing corporates, utilities, food manufacturing, and paper/packaging—offering a diverse commuter base that can support workforce housing demand and retention. The list below highlights proximate anchors that align with likely renter commute patterns.
- Erie Insurance Group — insurance (3.7 miles)
- Goodyear Tire & Rubber — tires & rubber corporate (12.0 miles) — HQ
- FirstEnergy — utilities corporate (14.3 miles) — HQ
- J.M. Smucker — food manufacturing corporate (19.1 miles) — HQ
- International Paper Company — paper & packaging (27.9 miles)
This 24-unit, 1978-vintage asset benefits from a neighborhood that ranks 13th of 132 in the Canton–Massillon metro, indicating competitive positioning versus local peers. Neighborhood occupancy trends sit above the national midpoint and the renter-occupied share is high nationally, supporting depth of tenant demand. The vintage is older than the neighborhood average (1989), which underscores value-add and capital planning opportunities to improve competitiveness against newer stock.
Within a 3-mile radius, recent household growth alongside smaller average household sizes points to a growing renter pool and supports lease-up and renewal strategies. According to CRE market data from WDSuite, local rents and rent-to-income metrics sit near national midpoints, which can aid retention while allowing measured pricing power for renovated units. Limited walkable amenities suggest a car-oriented profile, so emphasizing in-unit upgrades and practical conveniences can help drive absorption.
- Competitive neighborhood rank (13 of 132) with occupancy above national midpoint supports income stability
- Elevated renter-occupied share nationally indicates a deeper tenant base for a 24-unit property
- 1978 vintage offers clear value-add and systems modernization upside versus newer local stock
- 3-mile trends show household growth and smaller household sizes, supporting demand for multifamily units
- Risks: older vintage implies capex needs; auto-oriented amenities may require stronger in-unit features and parking