| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 54th | Best |
| Amenities | 35th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 135 Ribet Ave SW, Valdese, NC, 28690, US |
| Region / Metro | Valdese |
| Year of Construction | 1973 |
| Units | 31 |
| Transaction Date | 2017-09-14 |
| Transaction Price | $320,000 |
| Buyer | INFINITE HORIZON PROPERTIES LLC |
| Seller | STEF LLC |
135 Ribet Ave SW Valdese Multifamily Opportunity
Neighborhood rent levels sit well below local incomes, supporting tenant retention and measured pricing power, according to WDSuite s CRE market data.
Located in Valdese within the Hickory Lenoir Morganton metro, the neighborhood carries a B+ rating and ranks 48 out of 130 metro neighborhoods, making it competitive among Hickory Lenoir Morganton neighborhoods for overall livability and investment fundamentals. Essentials are convenient: grocery, park, and pharmacy access rank better than much of the metro peer set, while dining and cafes are limited a typical profile for a rural submarket.
Neighborhood occupancy is below the metro median (ranked 87 of 130), which suggests modest backfill needs for some assets; however, area rent-to-income ratios are low, creating affordability headroom that can support lease retention and limit turnover pressure. Note that these occupancy and rent metrics reflect the neighborhood, not this specific property.
Tenure patterns indicate a lower renter concentration at the neighborhood level, reinforcing that multifamily demand is present but thinner than urban cores; investors should underwrite to steady, needs-based demand rather than transient spikes. Within a 3-mile radius, recent years show slight population growth alongside a rising household count and smaller average household sizes, which broadens the pool of renting households even as family composition shifts. Forward-looking projections in the same 3-mile area indicate fewer residents but more households, implying continued formation of smaller households a setup that can sustain demand for well-managed, right-sized units.
Home values sit well below national norms. While ownership is relatively accessible, which can compete with rentals, the low rent-to-income backdrop and stable workforce orientation can support leasing stability for properties positioned on value and convenience.
Safety signals are mixed in comparative terms. The neighborhood s crime rank is 32 out of 130 metro neighborhoods, indicating higher reported crime relative to many local peers. At the same time, national comparisons place the area around the midrange or better, with violent and property offense percentiles above the national median, suggesting comparatively better outcomes than many neighborhoods nationwide.
Recent trends show divergence: property offense rates increased year over year, while violent offenses moved lower. Investors should account for these dynamics in operating plans (lighting, access control, and resident engagement) and review up-to-date local reporting alongside WDSuite s CRE market data when benchmarking against nearby submarkets.
Regional employers accessible by car support a commuter renter base, with utilities and home improvement corporate offices providing stable white- and blue-collar demand reflected in leasing and renewals.
- Duke Energy utilities (36.5 miles)
- Lowe's home improvement retail corporate (42.2 miles) HQ
135 Ribet Ave SW is a 31-unit multifamily asset in a rural Valdese neighborhood that scores competitively within the Hickory Lenoir Morganton metro. Neighborhood occupancy trends are below the metro median, but low rent-to-income levels point to meaningful affordability headroom that can support retention-focused operations and disciplined rent growth, based on CRE market data from WDSuite.
Investor underwriting should reflect a thinner renter-occupied base locally and limited lifestyle amenities, offset by strong access to daily necessities and a 3-mile profile showing more households and smaller household sizes over time. Ownership remains relatively attainable in this market, which can compete with rentals; positioning on value, convenience, and resident experience will be important to sustain leasing velocity and stabilize cash flows through cycles.
- Affordability headroom supports retention and measured rent growth
- Competitive neighborhood standing within the metro for essentials and livability
- 3-mile area shows more households and smaller sizes, broadening the renter pool
- Risk: below-metro occupancy and accessible ownership require conservative lease-up assumptions
- Risk: limited dining/cafe density; focus on value and convenience to drive renewals