| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 62nd | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4900 Massillon Rd, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4900 Massillon Rd, North Canton OH Multifamily Investment
Positioned in a B+-rated Akron metro neighborhood, the asset offers exposure to a growing renter base with comparatively low rent-to-income, according to WDSuite’s CRE market data. Neighborhood occupancy trails metro norms, suggesting lease-up and retention will hinge on competitive positioning and operations.
The property sits in a North Canton pocket rated B+ (ranked 65 of 180 within the Akron metro), which is competitive among Akron neighborhoods. Amenity access is mixed: parks and childcare availability rank in the competitive tier locally, while cafes and pharmacies are limited, implying a more car-dependent living pattern rather than walk-to-retail convenience.
Neighborhood occupancy is measured at 83% (ranked 164 of 180; below metro median and below national norms), so investing here requires a focus on marketing, unit finishes, and tenant retention. At the same time, the renter-occupied share is moderate (national percentile 56), indicating a viable tenant pool for smaller multifamily assets without heavy concentration risk.
Ownership costs in the area are elevated relative to many U.S. neighborhoods (home values around the 59th national percentile), while median household incomes are stronger (76th percentile). Combined with relatively low neighborhood rent levels (34th percentile) and a high rent-to-income positioning (88th percentile), this backdrop points to manageable affordability pressure for renters and potential pricing power as units are improved and managed effectively.
Within a 3-mile radius, WDSuite’s data shows recent population growth alongside an increase in households, with projections calling for further gains through 2028. A modest decline in average household size and a rising household count signal a larger tenant base over time, which can support occupancy stability for well-maintained, appropriately priced units.
Vintage also matters: built in 1980 versus a local average vintage of 1957, the asset is newer than much of the surrounding stock. That positioning can translate into a competitive edge versus older properties, while still presenting opportunities for targeted modernization and systems upgrades to meet current renter expectations.
Comparable safety benchmarks for this specific neighborhood are not available in WDSuite’s dataset. Investors typically contextualize property-level safety by reviewing regional crime trends, talking with local stakeholders, and assessing on-site measures (lighting, access control, and visibility) as part of diligence.
Given the rural character noted for the neighborhood, practical evaluation often includes drive-time checks at different hours and a review of nearby activity nodes. Use property and submarket comparisons across the Akron metro to frame risk and mitigation plans rather than relying on block-level assumptions.
The area’s employment base blends insurance, manufacturing, energy, and consumer goods, supporting renter demand through diverse white- and blue-collar jobs. Key nearby anchors include Erie Insurance Group, Goodyear, FirstEnergy, J.M. Smucker, and International Paper.
- Erie Insurance Group — insurance (5.8 miles)
- Goodyear Tire & Rubber — manufacturing & corporate (9.1 miles) — HQ
- FirstEnergy — utilities (11.1 miles) — HQ
- J.M. Smucker — consumer goods (16.4 miles) — HQ
- International Paper Company — paper & packaging (25.3 miles)
This 24-unit, 1980-vintage asset offers relative competitiveness versus older neighborhood stock while still presenting value-add potential through selective renovations and system updates. Based on CRE market data from WDSuite, the surrounding neighborhood shows moderate renter concentration and stronger-than-average incomes, with low rent-to-income positioning that can support measured rent growth when paired with improved finishes and management.
Investor focus should be on leasing execution, given neighborhood occupancy trails metro and national benchmarks, and on differentiating through practical upgrades that resonate with a car-oriented tenant base. Three-mile demographics indicate recent population growth and a projected increase in households through 2028, which supports a larger tenant base and potential for steady absorption if units are priced and maintained appropriately.
- 1980 construction provides a competitive edge versus older local stock, with targeted modernization upside.
- Low rent-to-income positioning and solid area incomes support sustainable rent levels and retention.
- Household and population growth within 3 miles expands the tenant base and supports occupancy stability.
- Diverse nearby employers (insurance, energy, manufacturing, consumer goods) underpin renter demand.
- Risk: neighborhood occupancy is below metro norms, requiring disciplined leasing, competitive pricing, and proactive retention.