| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 50th | Good |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2000 Mosteller Estate Ave SE, Hickory, NC, 28602, US |
| Region / Metro | Hickory |
| Year of Construction | 2005 |
| Units | 28 |
| Transaction Date | 2004-01-15 |
| Transaction Price | $2,050,000 |
| Buyer | CEVESCO INC |
| Seller | --- |
2000 Mosteller Estate Ave SE Hickory 28-Unit Multifamily
Positioned in a top-quartile Hickory neighborhood and supported by an above-median renter concentration, the asset benefits from steady tenant depth, according to WDSuite s CRE market data. Neighborhood occupancy has softened versus national norms, which puts a premium on proven operations and leasing execution.
This Inner Suburb location is rated A and ranks 19th out of 130 Hickory-Lenoir-Morganton neighborhoods, placing it in the top quartile among metro peers. Caf e9 density scores in the top quartile nationally, while grocery access is competitive within the metro; parks and formal childcare options are limited, and average school ratings sit below national norms. For investors, that mix favors day-to-day convenience with some trade-offs on family amenities.
Neighborhood occupancy is below national averages and has trended down over the last five years, based on CRE market data from WDSuite, which makes asset-level leasing, renewals, and resident services important to sustain performance. At the same time, the share of housing units that are renter-occupied ranks in the top quartile among 130 metro neighborhoods, signaling a relatively deep tenant pool for multifamily.
Within a 3-mile radius, households have grown and are projected to expand further by 2028, alongside smaller average household sizes. That combination points to a larger tenant base and more single-household demand entering the market, supporting occupancy stability for well-managed properties.
Home values in the neighborhood are lower than high-cost metros, which can introduce some competition from ownership. However, rent levels and rent-to-income dynamics remain manageable for workforce renters, supporting lease retention and pricing discipline when paired with attentive management.
Built in 2005, the property is newer than the neighborhood b4s average 1998 vintage, which can improve competitive positioning versus older stock. Investors should still underwrite routine system updates and targeted common-area upgrades to maintain appeal and reduce downtime.
Specific neighborhood crime metrics are not available in WDSuite for this location. Investors commonly benchmark safety using metro and city sources, property-level incident logs, and trend reviews over multiple years to understand relative positioning and any changes that could influence leasing, insurance, or operating practices.
Prudent steps include reviewing recent municipal reports, engaging local property management for on-the-ground perspective, and aligning lighting, access control, and tenant communication protocols with submarket standards.
Proximity to regional employment anchors in energy, home improvement, pharmaceuticals, and distribution supports renter demand through commute convenience and diversified wage drivers, which can aid leasing and retention.
- Duke Energy energy services (23.8 miles)
- Lowe's home improvement retail HQ (27.5 miles) HQ
- Merck pharmaceuticals (39.4 miles)
- AmerisourceBergen Healthcare Consultants healthcare services (40.6 miles)
- Sysco food distribution (41.3 miles)
The 28-unit, 2005-vintage asset sits in a top-quartile Hickory neighborhood with a renter-occupied share that is likewise strong relative to metro peers. While neighborhood occupancy currently trails national norms, household growth within a 3-mile radius and projected increases through 2028 indicate a larger tenant base that can support leasing velocity and renewals for well-operated assets, according to multifamily property research from WDSuite.
Relative ownership costs are more accessible than in high-cost metros, which may introduce some competition from for-sale options; however, rent-to-income conditions remain manageable for workforce renters, supporting retention where management focuses on service, unit turns, and targeted upgrades. The property b4s newer-than-average vintage versus the local stock provides an edge over older comparables, with modest capital planning for systems and common areas helping sustain competitiveness.
- Top-quartile neighborhood ranking in the metro supports demand depth
- Renter-occupied share above metro median implies a broader tenant pool
- 3-mile household growth and forecast expansion bolster leasing and renewals
- 2005 vintage out-positions older stock with manageable modernization needs
- Risk: Neighborhood occupancy lags national norms, requiring disciplined operations