| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 61st | Good |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Falling Leaf Ln, Asheville, NC, 28803, US |
| Region / Metro | Asheville |
| Year of Construction | 2003 |
| Units | 28 |
| Transaction Date | 2007-05-04 |
| Transaction Price | $12,700,000 |
| Buyer | PRIVET ASHEVILLE LLC |
| Seller | ASHEVILLE EASTWOOD APRARTMENTS LLC |
100 Falling Leaf Ln Asheville CRE Investment Outlook
Neighborhood home values are elevated relative to incomes, which helps sustain multifamily renter demand even as local occupancy trends sit closer to the national middle, according to WDSuite’s CRE market data.
The property sits in an A-rated, suburban neighborhood that ranks 24 out of 155 within the Asheville metro, placing it in the top quartile among local neighborhoods. Cafes and restaurants are reasonably accessible by metro standards, while grocery options are moderate and parks/pharmacies are limited nearby. Average school ratings are strong (about 4 out of 5), supporting family-oriented renter appeal compared with many Asheville submarkets.
Renter-occupied housing comprises a moderate share of neighborhood units (around three in ten), indicating a meaningful tenant base without oversaturation. Neighborhood occupancy is above the Asheville metro median but trails the national middle, suggesting leasing is generally stable yet still competitive versus national benchmarks; investors should underwrite to steady absorption rather than outsized lease-up assumptions.
The asset’s 2003 construction is newer than the neighborhood’s average vintage (mid-1980s). This positioning can reduce near-term capital intensity versus older stock and support competitive leasing, though investors should still plan for system updates and selective modernization over the hold to protect pricing power.
Within a 3-mile radius, recent counts show smaller household totals today versus five years ago, but forward projections indicate population and household growth by the 2028 outlook, implying a larger tenant base over time. Rising incomes in the local radius paired with elevated ownership costs (high home values relative to income) point to sustained reliance on rental housing, which can support rent growth and retention with disciplined lease management.
Safety indicators for the neighborhood track near the metro average and around the national middle based on WDSuite data. Property crime sits slightly better than the national midpoint with a recent year-over-year decline, while violent crime trends are closer to average nationally with some recent volatility. In short, the area is generally comparable to many Asheville neighborhoods and does not sit at either extreme locally.
Nearby employment includes industrial and distribution-related corporate offices that help support day-to-day renter demand through convenient commutes.
- Airgas Store — industrial gases & supplies (3.4 miles)
Constructed in 2003 with 28 units, the property is positioned newer than much of the surrounding housing stock and benefits from an A-rated suburban location. Elevated ownership costs in the neighborhood, paired with solid school quality and a moderate renter concentration, support depth of demand and renewal potential. While neighborhood occupancy trends are above the Asheville metro median yet closer to the national middle, forward 3-mile projections for population and household expansion suggest a gradually widening renter pool. These dynamics point to steady performance with selective value-add and operational improvements, based on commercial real estate analysis from WDSuite.
Investor considerations include disciplined underwriting to competitive lease-up conditions, monitoring of safety trends that track near average, and capital planning for systems and finishes as the 2003 vintage moves further into mid-life.
- Newer 2003 vintage versus neighborhood average, supporting competitive positioning and lower near-term CapEx versus older stock.
- Elevated home values relative to income reinforce renter reliance and pricing power potential with prudent lease management.
- Strong local school ratings bolster family-oriented renter appeal and renewal prospects.
- Forecast 3-mile population and household growth expands the tenant base over time, supporting occupancy stability.
- Risks: neighborhood occupancy nearer the national middle and limited park/pharmacy amenities warrant conservative absorption and amenity investments.