| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 31st | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1601 4th St NE, Hickory, NC, 28601, US |
| Region / Metro | Hickory |
| Year of Construction | 1982 |
| Units | 26 |
| Transaction Date | 1982-10-01 |
| Transaction Price | $155,500 |
| Buyer | HICKORY PORTFOLIO III DAG LLC |
| Seller | HICKORY EAST LLC |
1601 4th St NE Hickory 26-Unit Multifamily Opportunity
Inner-suburb location with strong daily-needs access and a renter base just over half of neighborhood housing supports steady demand, according to WDSuite’s CRE market data. Neighborhood occupancy has held in the high-80s with modest improvement, suggesting manageable leasing risk and room to optimize operations.
Located in Hickory’s Inner Suburb, the property sits in a neighborhood WDSuite rates "A" and ranks 13th of 130 metro neighborhoods — a top quartile position that signals competitive fundamentals for a 26-unit asset. Amenity access is a differentiator: grocery availability ranks 1st of 130 in the metro and is in the low-90s nationally by percentile, while restaurants and cafes are also competitive among Hickory neighborhoods. For residents, this typically translates into shorter errand trips and stronger day-to-day livability.
Construction year is 1982, slightly newer than the neighborhood’s average 1976 vintage. That positioning can support leasing versus older stock, though investors should anticipate normal aging-systems updates and potential value-add interior modernization to remain competitive.
Neighborhood-level occupancy has trended in the high-80% range over the past five years and improved slightly, though it sits below the metro median. The share of housing units that are renter-occupied is just over half (about 53%), indicating a deep tenant base and consistent multifamily demand. At the same time, a rent-to-income ratio near 0.19 suggests relatively manageable rent burdens, a positive for retention and lease management.
Demographic statistics aggregated within a 3-mile radius show population up roughly 8–9% over five years with households up a similar pace, and projections indicate additional household growth by 2028. This broader-area expansion points to a larger tenant base and supports occupancy stability. Median home values in the neighborhood are elevated relative to local incomes (value-to-income ratio around 4.1), which tends to sustain reliance on multifamily rentals; meanwhile, average school ratings are mid-pack locally, implying family demand will be steady but price-sensitive.
Comparable neighborhood-level crime detail is not available in WDSuite’s current dataset for this location. Investors typically benchmark local safety using city and county reports, and evaluate property-level measures (lighting, access control, visibility) alongside submarket trends to contextualize leasing risk. Where possible, compare this neighborhood’s trends with nearby Hickory areas to gauge relative performance over time.
Regional employment is anchored by utilities, retail HQ, life sciences, and food distribution — a mix that supports workforce housing demand and commute convenience for renters at this address. Nearby employers include Duke Energy, Lowe's, Merck, and Sysco.
- Duke Energy — utilities (27.7 miles)
- Lowe's — retail HQ/operations (30.6 miles) — HQ
- Merck — life sciences manufacturing (43.1 miles)
- Sysco — food distribution (44.5 miles)
1601 4th St NE offers a 26-unit footprint in a top-quartile Hickory neighborhood with best-in-metro grocery access and competitive dining/coffee density. Neighborhood occupancy has improved modestly and remains in the high-80% range; the renter-occupied share just over half points to a durable tenant base. According to CRE market data from WDSuite, the area’s ownership costs relative to incomes reinforce rental housing reliance, while a manageable rent-to-income profile supports retention.
Built in 1982, the asset is slightly newer than the local average, providing a competitive edge against older stock while leaving room for targeted modernization and systems updates. Demographic trends within a 3-mile radius show recent growth with additional household expansion forecast, which should support leasing velocity and occupancy stability over the hold period.
- Inner-suburb location with top-quartile (13 of 130) neighborhood ranking and best-in-metro grocery access
- Renter-occupied share just over half supports a deep tenant base and steady multifamily demand
- 1982 vintage offers competitive positioning with value-add potential via renovations and system upgrades
- 3-mile radius shows recent growth and additional household expansion, supporting occupancy stability
- Risk: Neighborhood occupancy is below the metro median; lease-up and pricing should be managed conservatively