| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 46th | Good |
| Amenities | 31st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Beech St, Newland, NC, 28657, US |
| Region / Metro | Newland |
| Year of Construction | 1985 |
| Units | 27 |
| Transaction Date | 2010-06-25 |
| Transaction Price | $696,000 |
| Buyer | FIELDS OF TOE NC |
| Seller | NORTHWESTERN REGIONAL HOUSING AUTHORITY |
400 Beech St, Newland NC Multifamily Investment
Positioned in a high-cost ownership pocket of Avery County, this asset benefits from renter reliance as home values run ahead of local incomes, according to CRE market data from WDSuite. Neighborhood rents are modest, suggesting demand from cost-sensitive tenants but a need for disciplined pricing and expense control.
This suburban neighborhood in Newland ranks 3rd out of 16 metro neighborhoods with an overall A rating, indicating it is competitive among Avery County locations for multifamily. Neighborhood-level occupancy is 63.6% (measured for the neighborhood, not the property) and has trended lower over five years, signaling potential leasing competition and the importance of active management to sustain performance.
Livability is mixed: parks and pharmacies score in the higher national percentiles, while cafes, childcare, and grocery options are sparse. Average school ratings trend lower locally, which may steer demand more toward adult households and renters prioritizing proximity and value over school quality.
Home values in the neighborhood are elevated relative to local incomes (value-to-income ratio in the higher national percentiles), which tends to reinforce rental demand and lease retention for well-positioned units. At the same time, median contract rents track on the lower side and rent-to-income is favorable, pointing to affordability that can support occupancy but may limit near-term pricing power.
Within a 3-mile radius, demographic indicators point to smaller household sizes and recent population contraction, which can translate into a renter base skewed toward singles or downsizing households. The renter-occupied share sits at 23.5% at the neighborhood level, indicating a modest renter concentration; for investors, that means a defined but not deep tenant pool where marketing, unit mix, and competitive amenities matter.
Vintage context: the property’s 1985 construction is newer than the neighborhood’s average 1972 stock, offering relative competitiveness versus older buildings. Investors should still plan for targeted system updates and light renovations to maintain positioning against refreshed comparables.
Comparable crime statistics for this neighborhood are not available in WDSuite’s dataset for the current period. Investors typically benchmark safety trends at the county and metro levels and monitor local reporting to understand directional change rather than relying on block-level readings. Use consistent screening and property-level security practices to support leasing and retention.
This 27‑unit property with compact average floorplans (~458 sf) aligns with demand from cost-conscious renters and smaller households. Based on CRE market data from WDSuite, the surrounding neighborhood exhibits elevated ownership costs versus incomes, which can sustain reliance on rentals, while neighborhood-level occupancy softness underscores the importance of hands-on leasing and competitive positioning.
Built in 1985, the asset is newer than much of the local housing stock, creating a platform for targeted value-add — modernizing interiors and common areas to differentiate against older properties. With modest rent levels and a renter concentration that is present but not deep, returns are likely driven by operational execution, disciplined expense control, and selective upgrades rather than outsized rent growth.
- Newer-than-area vintage (1985) offers competitive positioning versus older neighborhood stock with targeted upgrade potential.
- Elevated ownership costs locally support renter reliance and leasing stability for well-managed units.
- Smaller unit sizes fit demand from singles and downsizing renters, aiding absorption at value-oriented price points.
- Risk: neighborhood-level occupancy has softened, requiring assertive leasing, competitive amenities, and careful pricing.
- Risk: limited nearby amenities and lower school ratings suggest marketing should target renters prioritizing value and convenience over schools.