| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 67th | Best |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3970 Sweeten Creek Rd, Arden, NC, 28704, US |
| Region / Metro | Arden |
| Year of Construction | 1983 |
| Units | 22 |
| Transaction Date | 2015-10-27 |
| Transaction Price | $400,500 |
| Buyer | WILLIAMS BETTY B |
| Seller | THE BASCH CO |
3970 Sweeten Creek Rd, Arden NC Multifamily Investment
Suburban location with rising incomes and a growing 3-mile renter pool supports steady tenant demand, while neighborhood occupancy trends should be underwritten conservatively, according to WDSuite s CRE market data.
Arden s suburban setting balances everyday convenience with relative quiet. Within the Asheville metro, the neighborhood rates A- and places in the top quartile among 155 metro neighborhoods overall (rank 25 of 155), signaling broadly competitive fundamentals for multifamily investors. Local amenities are mixed: parks and childcare access are competitive among Asheville neighborhoods (park density rank 23 of 155; childcare rank 22 of 155), while cafes and pharmacies are sparse. Schools rate high for the metro (average ~4.0 out of 5, rank 6 of 155), a consideration for family-oriented renter retention.
Construction skew in the neighborhood is newer (average year 2002; rank 8 of 155), while this property was built in 1983. Older vintage typically implies near-term capital planning for systems and interiors, but it can also position a value-add strategy that competes on attainable rents against newer supply.
Neighborhood occupancy is currently measured at 80.4% (neighborhood-level, not the property) and trails national norms; prudent underwriting should assume lease-up and renewal execution drives results rather than automatic absorption. At the same time, 3-mile demographics indicate a supportive demand backdrop: renter-occupied share is about 38%, providing depth to the tenant base; median contract rents have risen over the last five years with further increases forecast; and both population and households are projected to expand through 2028, which points to a larger renter pool and supports occupancy stability.
Income and ownership context further reinforce multifamily demand. Household incomes within 3 miles have grown meaningfully, and the area sits in roughly the mid-to-upper national percentiles for home values (median around the mid-$300Ks in neighborhood data). This high-cost ownership market for the region helps sustain reliance on rental housing, while a rent-to-income ratio near 0.16 suggests manageable affordability pressure that can aid lease retention and reduce turnover risk.
Relative to the Asheville metro, the neighborhood s safety profile is competitive, ranking 29 out of 155 neighborhoods (top quartile) and landing above the national average (around the 65th percentile) based on WDSuite s crime indicators. Recent data also show year-over-year declines in both property and violent offense rates, with property offenses trending down more sharply. Conditions can vary by block and over time, so investors should pair this directional view with site-level observations.
Nearby employment is anchored by light industrial and distribution, supporting workforce housing demand and commute convenience for residents. Representative employer noted below reflects accessible drive-time employment that can underpin leasing stability.
- Airgas Store industrial gases distribution (7.0 miles)
This 22-unit 1983 garden asset offers a practical value-add angle in a suburban Arden location with solid schools, expanding incomes, and a sizable 3-mile renter base. According to CRE market data from WDSuite, the neighborhood sits in the top quartile within the Asheville metro overall, though neighborhood occupancy runs below national norms underwriting should emphasize leasing execution and renewals. Demographic projections point to population and household growth through 2028 alongside rising rents, which together support a larger tenant base and potential for steady absorption.
Vintage relative to a newer neighborhood stock (average 2002) suggests allocating capital to building systems and unit modernization to strengthen competitiveness against 2000s product while targeting attainable pricing. Elevated home values in the surrounding area sustain rental reliance, and a rent-to-income ratio near the mid-teens supports lease retention and manageable affordability pressure.
- Suburban Arden asset with top-quartile neighborhood standing in the Asheville metro
- Growing 3-mile renter pool and rising incomes support demand and occupancy stability
- 1983 vintage enables value-add through systems upgrades and interior renovations versus newer comps
- Ownership costs reinforce renter reliance, aiding pricing power at attainable rent levels
- Risk: neighborhood occupancy runs below national norms; performance depends on lease-up and renewal execution