| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 62nd | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4866 Massillon Rd, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 1974 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4866 Massillon Rd, North Canton Multifamily Investment
Household income strength and projected renter pool expansion within 3 miles point to durable demand, according to WDSuite’s CRE market data. Neighborhood occupancy reflects local dynamics rather than property performance, so investors should underwrite to submarket fundamentals and leasing execution.
The property sits in a North Canton neighborhood rated B+ and ranked 65 out of 180 in the Akron metro, indicating it is competitive among Akron neighborhoods. Amenity access trends toward practical essentials over lifestyle density: grocery and parks are around metro norms, while cafes and pharmacies are sparse. For investors, that typically favors car-oriented renters and workforce households rather than amenity-first cohorts.
Neighborhood housing stock skews older on average (1957), while the asset’s 1974 vintage is newer than the area norm—often a relative advantage in unit livability and systems condition. That said, a 1970s asset may still benefit from targeted renovations and modernization to remain competitive with refreshed stock.
At the neighborhood level, about 23.5% of housing units are renter-occupied, suggesting a moderate renter concentration that can support stable multifamily demand without heavy turnover risk. The neighborhood occupancy rate is 83.0% (measured for the neighborhood, not the property) and sits below national norms; underwriting should assume steady leasing efforts and competitive positioning to maintain occupancy.
Within a 3-mile radius, population and households have increased in recent years, and WDSuite data projects continued growth through 2028. A rising household count alongside slightly smaller average household sizes implies a larger tenant base and supports occupancy stability for well-positioned units. Median incomes in the 3-mile area are strong and rising, which can sustain rent levels and reduce delinquency risk.
Ownership costs appear relatively elevated in context of the Akron region (neighborhood home values are modestly above national median benchmarks), which can reinforce renter reliance on multifamily housing. Rent-to-income indicators for the neighborhood are favorable (top decile nationally), pointing to limited affordability pressure today; investors can prioritize retention while gauging pricing power through renewals rather than aggressive jumps.
Comparable neighborhood crime metrics are not available in WDSuite for this area. Investors typically benchmark safety by triangulating city and county trend data, on-the-ground observation, and tenant feedback to understand relative positioning versus nearby Akron neighborhoods. Use a consistent baseline when comparing to peer assets and submarkets.
Proximity to established corporate employers supports a steady commuter renter base and enhances leasing durability for workforce-oriented units. Nearby employment anchors include insurance, manufacturing, utilities, and consumer goods headquarters.
- Erie Insurance Group — insurance (5.8 miles)
- Goodyear Tire & Rubber — manufacturing (9.0 miles) — HQ
- FirstEnergy — utilities (11.0 miles) — HQ
- J.M. Smucker — consumer goods (16.5 miles) — HQ
4866 Massillon Rd offers 44 units with a 1974 vintage that is newer than the neighborhood’s average stock, positioning it well for light-to-moderate renovations to drive rent premiums while maintaining cost discipline. Demand fundamentals are supported by strong household incomes and a growing 3-mile renter pool, while the neighborhood’s renter-occupied share indicates a meaningful, though not saturated, base of multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy trends below national norms, so execution on unit quality, pricing, and marketing will be key to sustaining stabilized performance.
Access to diversified employers across insurance, manufacturing, utilities, and consumer goods underpins commute convenience and potential retention. With neighborhood rent-to-income metrics signaling limited affordability pressure, operators can focus on steady renewal strategies and incremental upgrades rather than outsized lease trade-outs.
- 1974 construction is newer than area average, enabling value-add through targeted modernization
- Strong 3-mile income levels and projected household growth support a deeper tenant base and leasing stability
- Proximity to multiple anchor employers supports workforce demand and retention
- Favorable rent-to-income dynamics allow for disciplined renewal-driven revenue management
- Risk: neighborhood-level occupancy is below national norms—business plan should emphasize competitive positioning and consistent leasing efforts