| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 38th | Fair |
| Amenities | 13th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 Falls Ave, Granite Falls, NC, 28630, US |
| Region / Metro | Granite Falls |
| Year of Construction | 1982 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
114 Falls Ave Granite Falls Multifamily Investment
Neighborhood occupancy trends appear competitive within the Hickory–Lenoir–Morganton metro, supporting stable leasing for a 24-unit asset; according to WDSuite’s CRE market data, relatively low rent-to-income levels in the area help underpin retention.
Granite Falls is a rural neighborhood with a C+ rating (ranked 90 of 130 metro neighborhoods), offering a quieter setting and measured renter demand. Neighborhood occupancy is 93.4% and ranks 39 of 130, which is competitive among Hickory–Lenoir–Morganton neighborhoods and a constructive signal for near-term stability at the submarket level, per WDSuite.
Amenities are limited locally (amenity measures in lower national percentiles), so resident appeal leans on small-town convenience and regional connectivity rather than dense retail clustering. Average school ratings in the dataset show limited coverage; investors should diligence district and catchment nuances as part of lease-up and retention planning.
Within a 3-mile radius, population has expanded in recent years with projections indicating further growth, which can incrementally widen the tenant base. Household counts show mixed trends historically but are projected to increase, suggesting a larger pool of renters entering the market over the next several years. The share of housing units that are renter-occupied is approximately one-quarter, indicating a modest renter concentration that can still support consistent multifamily demand.
Home values in the neighborhood are comparatively accessible versus many national markets, and median contract rents remain low relative to local incomes. This combination points to manageable affordability pressure for renters and supports lease retention and steady collections, while also implying that ownership alternatives may at times compete with rentals and temper pricing power.
Comparable crime data for this neighborhood is not available in the current WDSuite release. Investors typically assess safety by benchmarking neighborhood trends against metro and national baselines and by reviewing multi-year patterns rather than single-year snapshots. On-the-ground diligence, insurer feedback, and property-level history can help contextualize resident perception and leasing risk.
Regional employment is diversified, with large corporate offices within commuting distance that can support renter demand and retention. Key drivers include utilities and home improvement corporate operations noted below.
- Duke Energy — utilities (33.3 miles)
- Lowe's — home improvement retail corporate (36.4 miles) — HQ
Built in 1982, the property is slightly older than the neighborhood average vintage, pointing to practical value-add potential through targeted exterior, systems, and interior updates. Neighborhood occupancy is competitive within the metro, and rent levels remain modest relative to area incomes, supporting retention and cash flow durability as capital is deployed. According to CRE market data from WDSuite, the neighborhood’s occupancy positioning aligns with steady renter demand even in a low-amenity, rural context.
Within a 3-mile radius, population growth and projected increases in households suggest a gradually expanding renter pool. The area’s renter-occupied share indicates a moderate depth of tenants, while comparatively accessible ownership costs may modestly constrain pricing power—reinforcing the case for a renovation-led strategy focused on functionality and durability rather than premium repositioning.
- Competitive neighborhood occupancy supports stable leasing relative to metro peers.
- 1982 vintage offers actionable value-add and systems modernization potential.
- Moderate renter concentration and projected household growth expand the tenant base.
- Low rent-to-income dynamics support retention and collections management.
- Risks: limited local amenities and ownership competition may temper pricing power; verify crime trends and school catchments during diligence.