| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 54th | Best |
| Amenities | 35th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 903 Pineburr Ave SE, Valdese, NC, 28690, US |
| Region / Metro | Valdese |
| Year of Construction | 1978 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
903 Pineburr Ave SE Valdese Multifamily Opportunity
Steady local services and modest renter demand, according to WDSuite s CRE market data, point to income stability as household counts expand within a 3-mile radius. With a balanced rural setting and accessible living costs, underwriting should focus on operational execution and retention.
Located in a Rural pocket of the Hickory–Lenoir–Morganton metro, the neighborhood carries a B+ rating and is competitive among Hickory–Lenoir–Morganton neighborhoods (rank 48 of 130). Local services skew practical rather than lifestyle-driven: grocery, parks, and pharmacy access rank above many metro peers, while restaurants and cafes are sparse. For investors, this suggests everyday convenience that supports retention, but limited dining traffic to drive premium rent positioning.
Neighborhood occupancy is below the metro median (rank 87 of 130), so leasing stability should be underwritten to property-specific execution and marketing. At the same time, rent-to-income sits in a favorable range for residents (high national percentile), which can support lease renewal and reduce turnover risk when paired with disciplined expense control.
Tenure patterns indicate a lower renter concentration at the neighborhood level (about one-fifth of housing units renter-occupied), implying a shallower immediate tenant base than urban submarkets. However, demographics aggregated within a 3-mile radius show a larger canvas for demand: households have grown in recent years and are projected to increase further even with flat population, reflecting smaller household sizes and a potentially expanding renter pool. Rising median incomes within this radius reinforce capacity to absorb measured rent growth without overextending affordability.
Ownership costs are relatively accessible in this area by national standards, which can create competition from for-sale housing and temper pricing power. That said, accessible multifamily rents and practical amenity coverage (notably groceries and pharmacies) can bolster day-to-day livability and support occupancy in a workforce-oriented strategy.
Safety signals are mixed but generally sit around or modestly above national medians, according to WDSuite s data. Within the metro context, the neighborhood s crime rank (32 of 130) places it competitive among Hickory–Lenoir–Morganton neighborhoods, while national percentiles indicate violent incidents track in the safer third nationwide and property-related incidents in a stronger (safer) range.
Recent estimates show property offenses have increased year over year, warranting practical measures such as lighting, access control, and resident engagement to maintain asset performance. Investors should focus on trend monitoring rather than block-level assumptions; conditions can vary within small areas and over time.
Regional employment is anchored by corporate offices within commuting distance, which supports renter demand through steady white- and blue-collar job bases. Nearby employers include Duke Energy and Lowe s.
- Duke Energy corporate offices (35.9 miles)
- Lowe s corporate offices (41.6 miles) HQ
This 46-unit asset built in 1978 offers a straightforward workforce housing thesis: practical amenities, accessible living costs, and a regional job base within commuting distance. According to CRE market data from WDSuite, neighborhood occupancy sits below the metro median, so the case centers on operational improvement and resident retention rather than immediate pricing power. The 3-mile area shows rising households and smaller household sizes, expanding the renter pool even as population levels remain roughly flat a tailwind for stabilized occupancy.
Relative to the area s older stock (average vintage early 1970s), the 1978 construction is somewhat newer, aiding competitiveness versus legacy assets. Still, age-related systems and finishes likely require targeted capital to enhance curb appeal, reduce maintenance variance, and support measured rent steps. With ownership costs relatively accessible locally, underwriting should assume some competition from for-sale housing, balanced by favorable rent-to-income dynamics that can support lease renewals.
- Expanding 3-mile household counts and smaller household sizes support a broader tenant base and occupancy stability.
- Workforce positioning with favorable rent-to-income dynamics can aid retention and predictable cash flow.
- 1978 vintage offers competitive positioning versus older stock, with value-add potential via targeted modernization.
- Practical amenity coverage (groceries, pharmacies, parks) supports day-to-day livability for residents.
- Risks: below-metro median neighborhood occupancy and rising property-crime estimates call for focused leasing, security, and CapEx execution.