| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 38th | Fair |
| Amenities | 13th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Quarry Rd, Granite Falls, NC, 28630, US |
| Region / Metro | Granite Falls |
| Year of Construction | 1982 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10 Quarry Rd, Granite Falls NC Multifamily Value-Add
Neighborhood occupancy is competitive within the Hickory–Lenoir–Morganton metro and supports cash flow stability, according to WDSuite s CRE market data. Positioned in Granite Falls, the asset s smaller unit mix can serve cost-conscious renters seeking practical housing near regional employment.
Livability leans rural with limited amenity density locally, which is typical for the area. Amenity access ranks below the metro median (63rd of 130 neighborhoods), while grocery options are present but not concentrated. Investors should underwrite more auto-reliant resident patterns and weigh the tradeoff between quieter setting and fewer nearby services.
Neighborhood occupancy is above the metro median (ranked 39th of 130) and sits in the 61st percentile nationally, signaling a reasonably stable renter demand backdrop at the neighborhood level rather than the property. Median rent levels in the immediate area remain accessible, and the neighborhood s rent-to-income ratio sits in the top quintile nationally, supporting retention and lease management strategies.
Within a 3-mile radius, population has grown modestly and is projected to continue increasing, with larger household sizes expected. This points to a gradually expanding tenant base and supports occupancy stability for smaller, functional units. Renter-occupied housing accounts for roughly a quarter of units within 3 miles, indicating a defined but not saturated renter pool that aligns with workforce housing demand.
Home values in the area are moderate relative to many U.S. markets, which can create some competition from ownership alternatives. However, accessible rents and a pragmatic unit mix can help sustain demand from renters prioritizing value and commute convenience. For targeting and pricing, a balanced approach grounded in commercial real estate analysis and supported by WDSuite s data is appropriate.
Neighborhood-level safety data specific to this block is limited. Investors typically benchmark trends against city and metro averages and review multi-year patterns rather than single-year snapshots. Given the rural context, prudent underwriting includes standard measures such as visibility, lighting, access control, and resident screening, while confirming recent trends with local public reports.
Regional employers support renter demand through steady operations within commute range. The companies below represent notable anchors that can influence leasing stability for workforce-oriented housing.
- Duke Energy utilities (33.5 miles)
- Lowe's home improvement retail corporate offices (36.7 miles) HQ
This 34-unit property offers a value-oriented footprint in a rural Granite Falls location, where neighborhood occupancy trends are competitive among Hickory Lenoir Morganton neighborhoods and national positioning sits modestly above mid-pack. Small average unit sizes (about 250 sf) align with renter segments prioritizing price and practicality, and accessible local rent levels support retention. According to CRE market data from WDSuite, the surrounding neighborhood shows a favorable rent-to-income profile, reinforcing the case for steady leasing when paired with disciplined operations.
Built in 1982, the asset likely benefits from targeted capital planning for aging systems and interior refreshes that can enhance rentability without overcapitalizing. Within a 3-mile radius, modest population growth and increasing household sizes suggest a gradually expanding renter pool, while moderate ownership costs mean some competition from for-sale alternatives making positioning, amenities, and price-point discipline important.
- Competitive neighborhood occupancy supports income stability versus metro peers
- Small-unit configuration targets value-seeking renters and supports leasing velocity
- Favorable rent-to-income profile aids retention and pricing discipline
- 1982 vintage presents value-add through selective system upgrades and interior updates
- Risks: limited nearby amenities, rural demand depth, and competition from ownership options