| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 72nd | Best |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 171 Applegrove St NE, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 1997 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
171 Applegrove St NE, North Canton Multifamily Investment
According to CRE market data from WDSuite, the surrounding neighborhood shows above-median occupancy and a top-quartile renter concentration within the Canton–Massillon metro, pointing to steady multifamily demand at the property level.
The property sits in an inner-suburb neighborhood of North Canton that ranks 13 out of 132 Canton–Massillon neighborhoods (rating: A), placing it in the top quartile locally for overall livability and investment-relevant fundamentals, based on WDSuite’s CRE market data. Neighborhood occupancy trends are above the metro median, supporting leasing stability for professionally managed assets.
Renter-occupied housing accounts for a substantial share of the local housing stock and ranks 14 of 132 in the metro, indicating a top-quartile renter concentration. For investors, that depth of renter households translates to a broader tenant base and potential durability through cycles. Median contract rents in the neighborhood sit near national mid-range levels, and a moderate rent-to-income profile suggests room for rent optimization with disciplined lease management.
Within a 3-mile radius, demographics point to modest population growth and a clear increase in households, with projections indicating further household expansion and smaller average household sizes over the next five years. For multifamily owners, more households and smaller household sizes typically expand the renter pool and can support occupancy and absorption, particularly for well-maintained properties.
Local amenity access skews toward dining, with restaurant density competitive among metro peers (11 of 132) and strong versus national comparables; by contrast, cafes, parks, groceries, and pharmacies are less concentrated within the immediate neighborhood. Investors should underwrite a drive-to-retail living pattern, which is common for inner-suburban Canton assets, and consider on-site conveniences that can aid retention.
The property’s 1997 vintage is newer than the neighborhood’s average construction year (1989). That relative youth can aid competitive positioning versus older inventory, though prudent capital plans may still include system updates and selective modernization to match current renter expectations.
Neighborhood-level crime statistics for this micro-area are not available in WDSuite’s current release. Investors commonly benchmark safety using municipal and regional trendlines and supplement with property-level measures (lighting, access control, and resident engagement) to support retention and leasing performance.
Nearby employers provide a diversified white-collar and operations employment base that supports renter demand and commute convenience, including Erie Insurance Group, Goodyear Tire & Rubber, FirstEnergy, J.M. Smucker, and International Paper Company.
- Erie Insurance Group — insurance (3.5 miles)
- Goodyear Tire & Rubber — manufacturing & corporate (12.2 miles) — HQ
- FirstEnergy — utilities & corporate (14.5 miles) — HQ
- J.M. Smucker — consumer packaged goods (19.1 miles) — HQ
- International Paper Company — packaging & paper (27.9 miles)
This 24-unit, 1997-vintage asset benefits from a top-quartile neighborhood ranking within the Canton–Massillon metro, above-median occupancy at the neighborhood level, and a strong renter-occupied presence that deepens the tenant base. The property’s vintage is newer than nearby averages, which can enhance competitive positioning versus older stock while leaving room for selective modernization to support rent growth and retention. Within a 3-mile radius, demographics indicate population stability with a notable increase in households and smaller household sizes ahead, expanding the renter pool and supporting occupancy durability. Home values and incomes suggest a high-cost ownership context relative to local wages, reinforcing sustained multifamily demand and manageable affordability pressure for well-managed assets.
Based on commercial real estate analysis from WDSuite, neighborhood rents and rent-to-income dynamics point to potential pricing power without overextending residents, while proximity to diversified employers underpins demand through economic cycles. Investors should still account for inner-suburban driving patterns and budget for ongoing systems maintenance as the asset approaches three decades in service.
- Top-quartile neighborhood rank (13 of 132) with above-median occupancy supporting leasing stability
- Strong renter-occupied share in the neighborhood deepens the tenant base and supports demand
- 1997 vintage offers relative competitiveness vs. older stock, with value-add via targeted modernization
- 3-mile household growth and smaller household sizes expand the renter pool and support occupancy
- Risk: inner-suburban drive-to-retail pattern and aging systems require prudent OPEX and CapEx planning