| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 20th | Poor |
| Amenities | 34th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 504 Bethel Rd, Morganton, NC, 28655, US |
| Region / Metro | Morganton |
| Year of Construction | 1974 |
| Units | 99 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
504 Bethel Rd Morganton Multifamily Investment
Renter concentration is among the highest in the Hickory–Lenoir–Morganton metro, supporting a stable tenant base, according to WDSuite s CRE market data. Ownership costs run comparatively high for local incomes, which tends to sustain demand for multifamily rentals in this inner-suburban node.
This inner-suburban neighborhood in Morganton carries a B rating and is positioned 59 out of 130 metro neighborhoods. Renter-occupied housing is notably prevalent (ranked 1 of 130), indicating deep multifamily demand relative to the metro and a larger base of prospective tenants. Neighborhood occupancy is lower than national norms, but the strong renter concentration helps support leasing velocity and renewal prospects.
Daily-needs access is serviceable for a suburban location: grocery and pharmacy availability are competitive among Hickory–Lenoir–Morganton neighborhoods (ranks 23 and 16 of 130), while restaurants index well above national norms. By contrast, parks, cafes, and childcare are sparse locally, and average school ratings track below national benchmarks, which investors should consider when positioning unit mix and amenities for retention.
Within a 3-mile radius, recent population trends have been stable, and forecasts point to a larger household base over the next several years, implying a broader renter pool and support for occupancy stability. Median contract rents in the neighborhood remain accessible relative to incomes, and the value-to-income ratio is elevated (rank 5 of 130; top quartile nationally), signaling a high-cost ownership market that can reinforce renter reliance on multifamily housing and bolster pricing power for well-managed assets.
Vintage patterns favor competitive positioning for 504 Bethel Rd: the property 201974 construction is newer than the neighborhood 201968 average, which can reduce near-term functional obsolescence versus older stock, though targeted modernization and system upgrades may still be prudent to enhance rentability and operating efficiency.
Safety indicators are mixed in this part of Morganton. The neighborhood 27s crime ranking is 41 out of 130 metro neighborhoods, which is weaker than the metro median and aligns with below-average safety nationally (around the mid-40s percentile). However, recent trends are constructive: estimated violent offenses declined sharply year over year, placing the neighborhood in a top-quartile improvement cohort nationally. Investors should underwrite with conservative assumptions while recognizing the positive momentum in the trend data.
Regional employers provide a broader job base that supports commuting renters. The list below highlights a major utility presence relevant to workforce housing demand in the wider area.
- Duke Energy utility services (41.3 miles)
504 Bethel Rd offers exposure to a renter-heavy submarket where ownership costs are elevated relative to incomes, supporting durable multifamily demand. According to CRE market data from WDSuite, renter-occupied share ranks first among 130 metro neighborhoods, while neighborhood occupancy trends and accessible rents suggest room for operational upside through targeted renovations and disciplined leasing. Recent safety trends also show improvement, which can aid retention as management executes on resident experience.
Built in 1974, the asset is newer than the neighborhood 27s average vintage, offering relative competitiveness versus older stock while still benefiting from focused value-add upgrades. Amenities and schools are limited locally, so a community-forward on-site program and efficient unit finishes can help differentiate the property and sustain pricing power.
- Deep renter base (top-ranked renter-occupied share in the metro) supports leasing stability
- Elevated ownership costs versus incomes favor sustained multifamily demand
- 1974 vintage is newer than area average, with targeted upgrades offering value-add potential
- Improving safety trend provides a constructive backdrop for retention
- Risks: lower school ratings, sparse parks/cafes, and below-national occupancy require prudent underwriting and asset positioning