| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 66th | Best |
| Amenities | 84th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 41 Kenilworth Rd, Asheville, NC, 28803, US |
| Region / Metro | Asheville |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
41 Kenilworth Rd Asheville Multifamily Investment
Amenity-rich Asheville location with durable renter demand and competitive positioning, according to WDSuite’s CRE market data. Neighborhood convenience and a high-cost ownership market support pricing power while warranting disciplined lease management.
The property sits in an A+ rated Asheville neighborhood ranked 1st among 155 metro neighborhoods for overall amenities, placing it in the top quartile nationally. Dense access to restaurants, parks, cafes, groceries, and pharmacies provides daily convenience that typically aids leasing velocity and retention.
Neighborhood asking rents benchmark above many peers (ranked 20th of 155; upper-tier nationally), while elevated home values and a higher value-to-income ratio indicate a high-cost ownership market that tends to sustain multifamily demand. For investors, this dynamic can support occupancy stability and measured rent growth, contingent on effective revenue management.
Within a 3-mile radius, 51.9% of housing units are renter-occupied, signaling a deep tenant base. Population has expanded modestly over the last five years and is projected to grow further, with households expected to increase into the next period—factors that point to a larger renter pool and support for long-run demand. Forecast rent levels also edge higher in WDSuite’s outlook, aligning with the area’s convenience and income profile.
By contrast, neighborhood occupancy is below the metro median (ranked 129th of 155; low national percentile), so asset-level performance will hinge on execution—product differentiation, targeted marketing, and unit readiness. Still, the submarket’s competitive NOI-per-unit profile (ranked 5th of 155; strong nationally) suggests well-positioned assets can capture outperformance relative to metro averages when operations align with neighborhood demand.
Safety trends should be viewed in context. Relative to other Asheville neighborhoods, crime sits around the middle of the pack (ranked 80th of 155), and the neighborhood compares below the national median for safety. However, year-over-year momentum is constructive: both property and violent offense estimates have declined materially, with improvements that rank in the upper tiers nationally.
Specifically, estimated property offenses fell by roughly half over the last year and violent offenses declined by about a third, improvements that are competitive among U.S. neighborhoods by percentile. These are neighborhood-level indicators, not property-specific conditions, and investors should underwrite with appropriate operating practices and resident experience measures.
Nearby employment options contribute to steady renter demand through commute convenience, led by local industrial and corporate operations noted below.
- Airgas Store — industrial gases & supplies (0.8 miles)
Built in 1984, the asset is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization of systems and finishes. The location’s amenity depth and high-cost ownership landscape reinforce renter reliance on multifamily housing; according to CRE market data from WDSuite, neighborhood rents sit above many local peers while forecast household growth within 3 miles expands the prospective tenant base.
Underwriting should balance these strengths with execution risks. Neighborhood occupancy trends trail the metro median, so achieving durable performance will depend on positioning, turn efficiency, and lease management. That said, competitive NOI-per-unit norms in the immediate area indicate well-operated assets can capture solid margins over time.
- Amenity-rich A+ neighborhood supports leasing velocity and retention potential.
- 1984 vintage offers relative competitiveness with scope for targeted value-add.
- High-cost ownership market underpins renter demand and pricing power.
- Forecast population and household growth within 3 miles expand the renter pool.
- Risk: Neighborhood occupancy ranks below metro median—performance depends on execution and operations.