| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 60th | Good |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1 Miller St, Asheville, NC, 28801, US |
| Region / Metro | Asheville |
| Year of Construction | 1995 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1 Miller St, Asheville NC multifamily
Positioned in an Inner Suburb pocket of Asheville with solid renter demand and high-cost ownership dynamics, this 44-unit 1995 asset offers durable leasing fundamentals, according to WDSuite s CRE market data.
The property sits in an Inner Suburb neighborhood rated A (16th of 155 Asheville neighborhoods), indicating balanced fundamentals for investors. Neighborhood rents have risen over the past five years and sit above many local peers, while typical home values are elevated for the metro. In practice, that high-cost ownership market supports reliance on rental housing and can help sustain depth of the tenant base.
Local livability drivers are competitive among Asheville neighborhoods: restaurant density ranks 21 of 155 and parks access is similarly placed, while grocery access is above the metro median (rank 50 of 155). Cafe and pharmacy counts are limited in the immediate area, which may modestly affect daily convenience but does not typically shift multifamily demand.
Tenure data points to a strong renter-occupied share in the neighborhood (among the highest in the metro by rank), reinforcing a wide pool of prospective tenants and supporting lease-up and renewal activity. School quality trends are competitive locally, and the neighborhood s housing stock skews slightly newer than the metro average, which helps properties compete on finishes and systems.
Within a 3-mile radius, population has grown in recent years and is projected to continue increasing through 2028, with households expected to expand as average household size rises. That trajectory implies a larger renter pool and supports occupancy stability. Based on CRE market data from WDSuite, neighborhood occupancy trends sit below the metro median today, so active leasing and renewal management remain important to capture demand.
Safety indicators for the neighborhood track close to national averages overall, with Asheville-relative ranks placing the area around the middle of the metro. Recent trends are constructive: both violent and property offense rates show notable year-over-year improvement, indicating momentum rather than a guarantee. Nationally, the neighborhood s safety profile sits below top-tier percentiles, so investors should underwrite modest security, lighting, and access-control measures consistent with comparable Inner Suburb assets.
Proximity to industrial and service employers supports workforce housing demand and commute convenience for residents, including Airgas.
- Airgas Store — industrial gases distribution (2.1 miles)
Built in 1995, the asset is newer than much of the area s stock, offering competitive positioning versus older comparables while leaving room for selective system upgrades or interior modernization to drive returns. Elevated neighborhood home values relative to incomes point to a high-cost ownership market that helps sustain multifamily demand and lease retention. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks are above national medians, while current neighborhood occupancy sits below the metro median—an underwriting consideration that can often be addressed with targeted leasing and amenity strategy.
Within a 3-mile radius, recent and forecast population growth, along with an expanding household base, suggest a growing tenant pool. Strong renter concentration in the immediate neighborhood further supports depth of demand, though investors should plan for normal make-ready and modest capital to maintain competitiveness as the asset matures.
- 1995 vintage offers competitive positioning versus older stock with targeted upgrade potential
- High-cost ownership market reinforces reliance on rentals and supports pricing power
- Renter concentration and 3-mile population growth expand the tenant base
- Neighborhood NOI benchmarks track above national medians, per WDSuite s commercial real estate analysis
- Risk: neighborhood occupancy is below the metro median; proactive leasing and renewal management are important