| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 67th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 280 Williams Rd, Fletcher, NC, 28732, US |
| Region / Metro | Fletcher |
| Year of Construction | 1985 |
| Units | 39 |
| Transaction Date | 2016-06-15 |
| Transaction Price | $900,100 |
| Buyer | Williams Road, LLC |
| Seller | Homestead Valley LLC |
280 Williams Rd Fletcher NC Multifamily Investment
Neighborhood data points to a high-cost ownership market and relatively low neighborhood renter concentration, suggesting potential for durable renter demand with thoughtful positioning, according to WDSuite’s CRE market data.
This suburban neighborhood in the Asheville, NC metro carries a C rating and ranks 113 out of 155 metro neighborhoods, indicating performance below the metro median. Local amenities are limited (few cafes, groceries, parks, and pharmacies within the immediate neighborhood), so residents are likely to rely on broader retail corridors for daily needs. For investors, that car-oriented context favors properties with on-site conveniences and parking.
Rents measured for the neighborhood trend on the lower side and have softened over the last five years, while the neighborhood rent-to-income ratio sits near the lowest nationally. Together, that suggests affordability headroom for well-executed renovations and revenue management, but it also calls for disciplined underwriting on achievable premiums given the area’s amenity light profile.
The share of housing units that are renter-occupied in the neighborhood is low, signaling a thinner in-neighborhood tenant base. However, demographics aggregated within a 3-mile radius show a larger renter pool today with forecasts through 2028 indicating increases in households and incomes, which can support multifamily demand and occupancy stability over a longer hold.
Built in 1985 versus a neighborhood average vintage from the late 1970s, the asset is slightly newer than much of the surrounding stock. That positioning can be competitive against older comparables, though investors should still plan for modernization and system updates typical of 1980s construction.
Home values measured for the neighborhood are elevated relative to incomes, indicating a high-cost ownership market. In practical terms, higher ownership costs can sustain renter reliance on multifamily housing and support lease retention, especially for well-maintained, professionally managed properties.
Safety indicators are mixed. Within the Asheville metro, the neighborhood’s crime rank (47 out of 155 neighborhoods) places it below the metro average for safety, warranting proactive property-level security and lighting standards. Nationally, broader indicators track closer to mid-to-above median safety levels, with violent incidents comparatively lower than many neighborhoods nationwide.
Investors should frame risk in comparative terms rather than block-level assumptions and monitor trend direction; consistent on-site management, access control, and visibility typically support resident confidence and retention.
Nearby employment options are modest but provide commute-friendly roles that can support renter retention. The list below highlights a representative employer within a short driving distance.
- Airgas Store — industrial gases & supplies (6.1 miles)
The asset’s 1985 vintage offers a slight age advantage over much of the surrounding housing stock, positioning value-add renovations to stand out against older comparables while addressing typical 1980s systems. Neighborhood measures show low rent-to-income and lower rent levels, which can support carefully managed rent lifts tied to unit upgrades and operations, based on CRE market data from WDSuite.
While the immediate neighborhood shows limited amenities and a small renter-occupied housing share, 3-mile radius projections point to household growth and higher incomes over the next five years. Elevated neighborhood home values indicate a high-cost ownership market, which can reinforce reliance on rentals and support occupancy stability with professional management. Underwriting should account for the neighborhood’s below-metro safety rank and recent rent softness, emphasizing durable unit finishes, curb appeal, and resident services to drive retention.
- Slightly newer 1985 vintage supports competitive positioning versus older stock with targeted upgrades
- Low neighborhood rent-to-income suggests measured pricing headroom tied to renovation scope
- 3-mile forecasts indicate growing households and rising incomes, supporting tenant base expansion
- High-cost ownership context can bolster renter reliance and lease retention
- Risks: amenity-light location, below-metro safety rank, and recent rent softness require conservative underwriting