| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 74th | Best |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21 Clinton St, Weaverville, NC, 28787, US |
| Region / Metro | Weaverville |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2012-07-17 |
| Transaction Price | $495,000 |
| Buyer | NEW DRY RIDGE APARTMENTS LLC |
| Seller | DRY RIDGE INVESTMENT CO |
21 Clinton St, Weaverville NC Multifamily Investment
Strong location fundamentals and a renter base supported by high ownership costs point to steady leasing, according to WDSuite s CRE market data. Neighborhood occupancy reflects competitive performance within Asheville and median rents have risen, suggesting resilient demand rather than outsized vacancy risk.
Located in suburban Weaverville within the Asheville metro, this neighborhood is highly rated (A+) and ranks 2 out of 155 metro neighborhoods op tier locally and competitive for investment screening. Amenity access scores above national medians, with cafes, groceries, parks, and pharmacies clustering at or above the 65th 70th national percentiles helpful for day-to-day livability that supports tenant retention.
School quality is a relative strength: the average rating is 4.0 out of 5 and ranks 6 of 155 in the metro, placing the area among top performers locally and strong compared with neighborhoods nationwide. These fundamentals typically broaden the family renter pool and can support longer tenancy durations.
Rents and occupancy trends indicate durable demand at the neighborhood level. Median contract rents rank in the upper tier locally and around the mid-70s nationally, while the neighborhood s occupancy performance is competitive among Asheville neighborhoods (ranked 40 of 155). For investors, this points to steady leasing conditions rather than pronounced softness.
Within a 3-mile radius, demographics show population and household growth over the last five years with additional gains projected through 2028, indicating renter pool expansion that can support occupancy stability. The renter-occupied share is below half closer to one-third which suggests a stable but not saturated multifamily demand base and room for well-positioned properties to capture share.
Ownership costs are elevated relative to incomes (home values sit in a high national percentile and the value-to-income ratio ranks near the top nationally). This high-cost ownership market tends to reinforce multifamily demand and can aid lease retention, while relatively moderate rent-to-income levels point to manageable affordability pressure and measured pricing power rather than excessive rent burden.
Safety indicators compare favorably. The neighborhood ranks 20 out of 155 in the Asheville metro, positioning it among stronger-performing areas locally and above the national average for safety (upper-third nationally). Recent trends show improvement, with estimated violent offenses down year over year and property offenses also easing, which supports renter confidence and reduces operational volatility for owners.
Nearby employment is anchored by industrial and distribution services, supporting workforce housing demand and commute convenience for renters.
- Airgas Store industrial gases & distribution offices (9.9 miles)
Built in 1978, the 24-unit asset is slightly newer than the area s average vintage, offering relative competitiveness against older stock while still presenting value-add opportunities through targeted system upgrades and interior modernization. Neighborhood fundamentals including strong schools, amenity access, and a high-cost ownership backdrop support a durable renter base and steady leasing. According to CRE market data from WDSuite, local rents track in the upper tier while occupancy ranks competitively in the Asheville metro, reinforcing a stable operating outlook rather than a momentum-driven one.
Within a 3-mile radius, recent and projected growth in population and households indicates a larger tenant base over time, which can support occupancy stability and measured rent growth. The renter-occupied share is closer to one-third, suggesting demand depth without over-reliance on multifamily, while elevated ownership costs continue to reinforce renter reliance on apartments. The property s modest average unit size can align with price-sensitive demand segments and support leasing velocity if finishes and amenities are kept competitive.
- Competitive neighborhood metrics and high-cost ownership market support renter demand
- 1978 vintage offers value-add potential via targeted renovations and system upgrades
- Upper-tier neighborhood rents and competitive occupancy, per WDSuite, point to leasing stability
- 3-mile population and household growth expand the tenant base, supporting long-term absorption
- Risk: occupancy has fluctuated and renter concentration is moderate, requiring active lease management and competitive positioning