| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 70th | Best |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 255 Barnard Ave, Asheville, NC, 28804, US |
| Region / Metro | Asheville |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
255 Barnard Ave Asheville Multifamily Investment
Submarket fundamentals point to durable renter demand supported by elevated home values and everyday amenities, according to WDSuite’s CRE market data. Neighborhood occupancy figures referenced below represent the surrounding neighborhood, not this property.
Located in Asheville’s suburban north, the neighborhood rates an A and ranks 17th out of 155 metro neighborhoods — a top quartile position that signals strong overall livability and investor appeal. Amenities are a relative strength: café density ranks 6th and grocery access 11th out of 155, indicating convenient daily needs coverage that supports leasing and resident retention.
The local housing stock skews older (average 1957 construction), while this 24-unit asset was built in 2000. The newer vintage provides a competitive edge versus much of the neighborhood’s inventory; investors should still underwrite for system updates or light modernization to sustain positioning against refreshed comparables.
Neighborhood occupancy is measured at the neighborhood level and sits below national norms, with an 80% reading and a national percentile position in the lower quintiles. Renter-occupied share in the immediate neighborhood is comparatively low, suggesting a smaller on-block renter base; however, demographics aggregated within a 3-mile radius show a balanced tenure mix and recent population growth, with forecasts calling for additional population and household expansion by 2028 — dynamics that can enlarge the tenant pool and support occupancy stability over time.
Income and ownership metrics point to a high-cost ownership market: neighborhood home values index in the 90th percentile nationally and the value-to-income ratio ranks 24th of 155 locally. This backdrop typically sustains reliance on rental housing and can support pricing power, while the neighborhood’s rent-to-income ratio sits in the upper-half nationally, indicating manageable rent loads that may aid lease retention. Amenity gaps include limited park and childcare access, which may matter for certain renter cohorts and should be considered when targeting demand segments.
Safety indicators compare favorably: the neighborhood ranks 23rd out of 155 Asheville neighborhoods for lower crime and sits above the national median (68th percentile). Year-over-year trends show notable declines in both violent and property offenses, placing improvement in the top decile nationally, which supports resident satisfaction and leasing stability.
As always, crime can vary by block and over time; investors should corroborate trends with recent, property-level due diligence and consider site-specific design or lighting improvements where appropriate.
Nearby employment is diversified at the metro level; within a short drive, industrial and distribution roles contribute to steady commuter demand, led by the employer listed below.
- Airgas Store — industrial gases & supplies (4.3 miles)
255 Barnard Ave offers 24 units built in 2000 with compact average floor plans that can serve renters seeking efficient, attainable options in a high-cost ownership market. Daily-needs amenities test well for Asheville, and the asset’s newer vintage should compare favorably against the neighborhood’s older stock; light renovations or system upgrades can further reinforce competitive positioning. According to CRE market data from WDSuite, neighborhood home values are elevated and café/grocery access is strong, both supportive of demand depth and resident retention.
Key considerations include neighborhood-level occupancy that trails national norms and limited nearby parks/childcare, which may shape the target renter profile and marketing strategy. Demographics aggregated within a 3-mile radius point to ongoing population and household growth through 2028, which can expand the renter pool over the hold period and help stabilize occupancy and renewals.
- Newer 2000 vintage versus an older neighborhood baseline, with room for light value-add to sustain competitiveness
- Strong daily-needs access (cafés/groceries) supports leasing velocity and retention
- High-cost ownership context reinforces rental demand and potential pricing power
- 3-mile demographics indicate population and household growth, expanding the tenant base through 2028
- Risks: below-average neighborhood occupancy and limited parks/childcare; underwrite for targeted marketing and capex to mitigate