| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 65th | Best |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 212 Church St NW, Valdese, NC, 28690, US |
| Region / Metro | Valdese |
| Year of Construction | 1985 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
212 Church St NW Valdese Multifamily Investment
Neighborhood occupancy is around 93%, suggesting steady renter demand relative to the metro, according to WDSuite’s CRE market data. For a smaller asset, stability and value-add execution are the primary levers rather than rapid lease-up.
Set within Valdese in the Hickory–Lenoir–Morganton metro, the neighborhood carries an A rating and ranks 20 out of 130 metro neighborhoods — competitive within the metro and in the top quartile locally. Occupancy in the neighborhood trends near the low-90s, indicating generally stable leasing conditions for workforce-oriented product.
The property’s 1985 vintage is newer than the neighborhood’s average construction year of 1962. Investors should plan for aging systems and common-area refreshes, but the vintage offers a relative edge versus older nearby stock while preserving potential value-add upside through targeted renovations.
Tenure patterns point to a smaller renter base: roughly one-fifth of housing units are renter-occupied. That concentration can support stable residency but may limit deep lease-up velocity; underwriting should emphasize retention and asset positioning. Within a 3-mile radius, households have increased while average household size has trended smaller, indicating more households supported by fewer people — a setup that can favor smaller-format units and support occupancy stability.
Ownership costs appear relatively accessible by national standards (home values and value-to-income measures sit around national midranges), which can create some competition with entry-level ownership. At the same time, the rent-to-income profile sits at a favorable level locally, supporting lease retention and controlled rent step-ups where product quality justifies it. Amenities are modest for a rural neighborhood, though park and restaurant access track around national midranges; school quality trends above national averages, supporting longer-term household stability.
Safety indicators show mixed positioning. Within the Hickory–Lenoir–Morganton metro, the neighborhood sits on the riskier side of the spectrum (ranked 13 out of 130). Nationally, however, composite indicators align above average, including property crime measures that track in the top quartile nationwide and violent offense indicators that are also above the national median.
Recent year-over-year trends point to improvement, with estimated violent offenses declining materially and property offenses easing modestly. Investors should still apply standard risk-mitigation practices (lighting, access control, and resident screening) while recognizing that the broader national comparison is favorable.
Regional employers provide diversified demand drivers within commute range, supporting renter retention for workforce housing tied to energy and home improvement sectors.
- Duke Energy — energy utility (37.0 miles)
- Lowe's — home improvement retail (42.6 miles) — HQ
This 30-unit multifamily asset from 1985 sits in a metro-competitive neighborhood where occupancy trends near the low-90s and renter affordability supports retention. According to CRE market data from WDSuite, the area’s renter concentration is modest, so the thesis centers on durable in-place demand, operational discipline, and selective upgrades rather than outsized lease-up.
The vintage suggests capex planning for building systems and common areas, but the relative youth versus older local stock provides room for value-add repositioning. Household growth within a 3-mile radius alongside smaller average household sizes supports smaller-format unit positioning and occupancy stability. Balanced ownership costs imply some competition from entry-level buying, so pricing power will come from product differentiation and management execution.
- Metro-competitive location with neighborhood occupancy near the low-90s supporting stable cash flow
- 1985 vintage offers value-add upside versus older local stock with prudent capex
- 3-mile household growth and smaller household sizes align with smaller-format unit demand
- Favorable rent-to-income dynamics support retention and measured rent steps
- Risks: rural amenities, smaller renter base, and ownership alternatives require focused asset positioning