| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 56th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 209 Crowell Square Ct, Asheville, NC, 28806, US |
| Region / Metro | Asheville |
| Year of Construction | 2001 |
| Units | 30 |
| Transaction Date | 2018-05-09 |
| Transaction Price | $1,525,000 |
| Buyer | 209 CROWELL SQUARE LIC |
| Seller | IPI PROPERTIES 12 LLC |
209 Crowell Square Ct, Asheville NC Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the area, according to WDSuite s CRE market data, supporting income stability for smaller assets. With ownership costs elevated relative to incomes locally, the submarket reinforces reliance on rentals without stretching affordability.
The neighborhood surrounding 209 Crowell Square Ct shows investor-friendly balance: neighborhood occupancy is ranked 23 out of 155 Asheville metro neighborhoods, indicating performance above the metro median and supporting income durability for multifamily. Renter-occupied share in the neighborhood is ranked 25 of 155 (nationally in the upper tiers), pointing to a meaningful renter base without overconcentration—helpful for leasing velocity and renewal depth.
Livability inputs are mixed but serviceable. Caf E9 and restaurant density sit around the middle-to-upper range nationally (caf E9 density near the 70th percentile; restaurants near the mid-50s), and grocery access tracks above average, while pharmacies and childcare are limited. Average school ratings trend low (around the 15th percentile nationally), which can affect some family renters, so marketing may lean toward workforce and lifestyle segments rather than school-driven demand.
Relative pricing dynamics favor rentals. The neighborhood E2 80 99s value-to-income ratio sits well above national midpoints, and rent-to-income near 0.20 suggests manageable affordability pressure for tenants—supportive of retention and collections management. These dynamics, based on CRE market data from WDSuite, indicate room for consistent occupancy management rather than aggressive rent-taking strategies.
Asset vintage matters for positioning. The property E2 80 99s 2001 construction is newer than the neighborhood E2 80 99s average stock (1993), which can enhance competitive standing versus older assets; however, aging systems and finishes may still warrant targeted modernization for rent alignment and reduced downtime.
Safety trends are mixed and should be monitored alongside underwriting. The neighborhood E2 80 99s overall crime rank is 82 out of 155 Asheville metro neighborhoods, placing it below the metro median on safety. Nationally, current violent and property offense levels sit in lower percentiles for safety, but year-over-year changes show improvement: violent incidents have declined sharply (top-quartile improvement nationally), and property offenses have also trended down on a comparable basis, according to WDSuite E2 80 99s CRE data.
For investors, the takeaway is to assume conservative loss-to-lease and expense provisions for security and maintenance, while recognizing that recent downward momentum in incident rates may support stabilization if trends continue. Compare claims histories and unit-level measures against peer assets nearby rather than relying on block-level assumptions.
Nearby employment is anchored by industrial and distribution services that support steady commuter demand from the broader Asheville area. Proximity to Airgas suggests blue-collar and technical roles within a manageable drive that can aid retention at workforce-oriented properties.
- Airgas Store 14 industrial gases & distribution (5.4 miles)
This 30-unit asset benefits from a neighborhood with occupancy ranked 23 out of 155 metro neighborhoods, indicating above-median stability for Asheville. Value-to-income dynamics suggest a high-cost ownership market relative to incomes, reinforcing reliance on multifamily rentals and supporting renewal depth. Based on CRE market data from WDSuite, rents in the area track within manageable rent-to-income levels, which can aid collections and reduce turnover risk.
Built in 2001, the property is newer than the neighborhood average vintage, offering competitive positioning versus older stock while still leaving room for targeted system upgrades and light value-add to meet renter preferences. Demographic statistics aggregated within a 3-mile radius indicate population growth and rising median incomes through the forecast window, pointing to a larger tenant base and potential for sustained occupancy.
- Above-median neighborhood occupancy (ranked 23 of 155) supports income stability
- Ownership costs elevated relative to incomes, reinforcing multifamily demand and renewal depth
- 2001 construction offers competitive positioning with selective modernization potential
- 3-mile demographics point to population and income growth, expanding the renter pool
- Risks: below-median safety and low school ratings; plan for prudent operations and targeted capex