| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 71st | Best |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1 Lower Barton Rd, Asheville, NC, 28804, US |
| Region / Metro | Asheville |
| Year of Construction | 1977 |
| Units | 23 |
| Transaction Date | 2013-08-18 |
| Transaction Price | $985,500 |
| Buyer | MARDEL HOLDINGS LLC |
| Seller | ADAM PAUL JOSHUA |
1 Lower Barton Rd, Asheville NC — 23-Unit Multifamily Investment
High-cost ownership dynamics and a relatively deep renter base in the surrounding neighborhood point to durable tenant demand, according to CRE market data from WDSuite. Investors should view this asset as a value-add play with solid location fundamentals and room to optimize operations.
Located in a suburban pocket of Asheville, the property sits in a neighborhood rated A+ and ranked 6th among 155 metro neighborhoods, signaling competitive positioning within the Asheville market. Neighborhood housing quality trends read as top quartile nationally, while local rents sit above national midpoints, supporting steady renter interest without signaling severe affordability pressure (neighborhood rent-to-income around 0.22, per WDSuite).
Amenity access is balanced: cafes and childcare options are above national averages, grocery and pharmacy access track modestly above midrange, and restaurants sit around the national middle. Park access is limited locally, which is a minor amenity gap to consider in leasing narratives. Schools data is mixed at the metro level and not a primary differentiator here; investors may focus more on commute convenience and neighborhood services.
Ownership costs are elevated in this neighborhood compared with national norms, with home values ranking near the high end nationally; in practice this supports renter reliance on multifamily housing and can aid pricing power and lease retention. The neighborhood’s renter-occupied share of housing units is comparatively high (ranking 16th of 155 metro neighborhoods), indicating a deeper tenant pool for multifamily assets and reinforcing demand stability through cycles.
Demographic statistics aggregated within a 3-mile radius indicate continued growth in the renter pool: population and households have expanded over the last five years and are projected to increase further by 2028, alongside rising median incomes and modest rent growth. For investors, this combination points to a larger tenant base and supports occupancy stability relative to broader metro and national cycles, based on WDSuite’s CRE market data.
Neighborhood safety trends compare favorably to many areas nationwide: overall crime indicators sit above the national midpoint for safety (around the 60th percentile), with violent-offense measures stronger still (about the 68th percentile). Within the Asheville metro, the area places 39th of 155 neighborhoods on crime metrics, which is competitive but not top tier.
Recent momentum is mixed: violent-offense rates improved year over year, while property-offense measures ticked up. For underwriting, this suggests monitoring property security measures and lighting while emphasizing the neighborhood’s comparatively solid national standing and improving violent-offense trend.
Nearby employment is diversified at the metro scale, with accessible industrial and service employers that support workforce housing demand and commute convenience. Representative employer within the broader commute shed includes:
- Airgas Store — industrial gases & supplies (7.0 miles)
Built in 1977, the asset is older than the neighborhood’s average vintage, creating clear value-add and capital planning pathways (exteriors, unit interiors, building systems) to enhance competitiveness against newer stock. The surrounding neighborhood ranks 6th of 155 in Asheville with top-quartile national housing indicators, elevated home values that reinforce rental demand, and a renter concentration that deepens the tenant base. According to CRE market data from WDSuite, neighborhood occupancy is mid-pack locally with room for management-driven stabilization, while rent-to-income levels suggest manageable affordability pressure that can support retention.
Demographic statistics within a 3-mile radius show recent population and household growth with additional expansion projected through 2028, alongside rising household incomes and moderate rent growth—factors that generally support leasing velocity and pricing resiliency. Investors should weigh the limited park amenities and mixed safety momentum against the strong location fundamentals and the property’s renovation upside.
- High-cost ownership market supports sustained multifamily rental demand and pricing power
- Competitive neighborhood (6th of 155 in Asheville) with top-quartile national housing indicators
- 1977 vintage offers value-add potential through unit and system upgrades
- Growing 3-mile population and household counts support a larger tenant base and occupancy stability
- Risks: mid-pack neighborhood occupancy and limited park amenities require active asset management