| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 34th | Fair |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 517 Hickory St, Hudson, NC, 28638, US |
| Region / Metro | Hudson |
| Year of Construction | 1988 |
| Units | 29 |
| Transaction Date | 2010-06-23 |
| Transaction Price | $600,000 |
| Buyer | SHUMATE JOHNNY ALLAN |
| Seller | HUMPHRIES LARRY |
517 Hickory St, Hudson NC Multifamily Investment
Neighborhood occupancy around the 90% range and a renter-occupied share near one-quarter point to steady but measured leasing fundamentals, according to WDSuite’s CRE market data. In a rural submarket with moderate amenities, investor focus leans toward durable cash flow and disciplined expense management.
Hudson’s neighborhood profile trends rural with a B neighborhood rating and a tenant base that skews more owner-heavy. The share of housing units that are renter-occupied is roughly one-quarter at both the neighborhood and 3-mile levels, indicating a smaller but stable renter pool that often aligns with workforce housing demand. For investors, that typically supports baseline occupancy while putting a premium on property-level operations and retention.
Amenity access is modest but improving in key categories. Cafe density ranks competitive among Hickory-Lenoir-Morganton neighborhoods (27th of 130), and pharmacies and basic retail are present, while parks and childcare options are limited. These dynamics suggest everyday convenience for residents, but fewer lifestyle anchors than urban peers—an environment where well-maintained assets with practical finishes can differentiate.
On pricing and demand, the neighborhood’s occupancy is reported at 90.2% with a five-year uptick, reflecting resilient renter demand for appropriately positioned units. Median contract rents in the immediate area remain comparatively low, and the rent-to-income ratio is near 0.10, which indicates low affordability pressure and can aid lease retention. However, comparatively accessible home values in the neighborhood context can increase competition from ownership; continued attention to unit quality and resident experience helps sustain pricing power.
Demographic statistics aggregated within a 3-mile radius show a recent slight population dip with forecasts for renewed population growth and a notable projected increase in households alongside smaller household sizes. For multifamily, that points to a gradually expanding tenant base oriented toward smaller units and convenience features, which can support occupancy stability even as the area remains more suburban-rural in character.
WDSuite does not publish a neighborhood-level crime rank for this location in the current dataset. Investors typically benchmark safety by comparing municipal or county trend reports and touring at different times of day to understand on-the-ground conditions relative to nearby Hickory-Lenoir-Morganton neighborhoods.
Regional employers within commuting range help support renter demand, with a mix of energy and home improvement corporate operations providing diversified employment centers for residents.
- Duke Energy — utilities (38.6 miles)
- Lowe's — home improvement retail corporate (41.8 miles) — HQ
517 Hickory St offers a 29-unit footprint in a rural Hudson submarket where renter demand is steady, supported by neighborhood occupancy near 90% and a low rent-to-income profile that favors lease retention. Built in 1988, the asset is newer than much of the local stock, which can enhance competitive positioning versus older properties while still warranting targeted systems updates or common-area refreshes as part of long-term capital planning. Based on commercial real estate analysis from WDSuite, comparatively accessible ownership costs in the area may temper rent growth outperformance, making operations and resident experience key drivers of value.
Looking ahead, 3-mile demographics point to population growth and a projected increase in households alongside smaller household sizes—signals that expand the tenant base for smaller formats and support occupancy stability. Amenity access is moderate, with everyday needs nearby; distinctive upkeep, curb appeal, and pragmatic upgrades can help sustain leasing velocity and rent resilience in this competitive set.
- 1988 vintage offers relative competitiveness versus older neighborhood stock, with targeted modernization potential
- Neighborhood occupancy around 90% and low rent-to-income support lease retention and cash flow durability
- 3-mile outlook shows population growth and more households, expanding the renter pool for smaller units
- Moderate amenity base; property-level maintenance and convenience features can differentiate and aid pricing power
- Risk: accessible ownership options may compete with rentals, making retention and expense control critical