| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 31st | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 337 10th Avenue Dr NE, Hickory, NC, 28601, US |
| Region / Metro | Hickory |
| Year of Construction | 1985 |
| Units | 30 |
| Transaction Date | 1977-01-01 |
| Transaction Price | $104,000 |
| Buyer | JVT LLC |
| Seller | --- |
337 10th Avenue Dr NE Hickory Multifamily Investment
Neighborhood occupancy sits in the high 80s with a modest upward trend, according to WDSuite’s CRE market data, pointing to steady renter demand near central Hickory. A practical, operational play for investors prioritizing stable tenancy over headline rent growth.
This Inner Suburb pocket of Hickory carries an A neighborhood rating and ranks 13 out of 130 metro neighborhoods, placing it in the top quartile locally. Amenity access is a core strength: grocery availability ranks 1 of 130 (top decile) with strong restaurant and everyday services presence, supporting day-to-day convenience that helps with leasing and retention. Average school ratings are roughly mid-pack nationally, offering a workable but not differentiating family appeal.
For investors, renter demand fundamentals are supported by a high renter-occupied share at the neighborhood level (ranked 3 of 130; top quartile nationally by percentile), which indicates depth in the tenant pool and underpins leasing continuity. Neighborhood occupancy is in the high 80s and improving, suggesting manageable turnover and pricing discipline rather than accelerated lease-ups. Compared with metro peers, the area’s amenity access stands out more than its occupancy, guiding a focus on operations and resident experience to maximize renewal velocity.
Vintage and competitive positioning matter here. The property’s 1985 construction is newer than the neighborhood’s average vintage (1976), which can be an advantage versus older local stock; however, planning for selective system updates and common-area refreshes may be prudent to maintain competitiveness and support rent trade-outs.
Demographics aggregated within a 3-mile radius show recent population and household growth, with forecasts indicating additional household expansion over the next five years. This trajectory supports a larger tenant base and sustained absorption. Home values in the neighborhood sit in a higher national percentile relative to local incomes, which, paired with a moderate rent-to-income ratio, reinforces reliance on multifamily rentals for many households—supportive of occupancy stability and renewal capture rather than aggressive rent spikes.
Comparable crime rankings are not available in WDSuite’s current dataset for this specific neighborhood, so no metro rank or national percentile is cited. Investors should contextualize safety using multiple sources and trend direction (city reports, third-party indices) and focus on property-level measures such as lighting, access control, and resident engagement to support retention.
Proximity to regional employers supports commuting convenience and a diversified renter base, with exposure to utilities, home improvement corporate operations, pharmaceuticals, healthcare distribution consulting, and foodservice distribution.
- Duke Energy — utilities (27.4 miles)
- Lowe's — home improvement corporate (30.4 miles) — HQ
- Merck — pharmaceuticals (42.9 miles)
- AmerisourceBergen Healthcare Consultants — healthcare distribution consulting (44.3 miles)
- Sysco — foodservice distribution (44.3 miles)
This 30-unit, 1985-vintage asset benefits from an A-rated Hickory neighborhood that ranks 13 of 130 metro neighborhoods—competitive within the metro and supported by top-tier amenity access. High neighborhood renter concentration and occupancy in the high 80s point to a durable tenant base and steady leasing cadence. According to CRE market data from WDSuite, the area’s grocery, restaurant, and daily-needs density is a relative strength, while average school ratings and modest income positioning suggest a pragmatic approach to rent growth and renewals.
Newer-than-area-average vintage provides a platform for targeted value-add—modernize systems and common areas to differentiate against older stock and support pricing power. Demographics within a 3-mile radius indicate recent and projected increases in households, expanding the renter pool and supporting occupancy stability. Elevated ownership costs relative to local incomes further sustain reliance on rentals, favoring retention over churn.
- A-rated neighborhood; competitive rank (13 of 130) with standout amenity access
- High renter-occupied share indicates depth of tenant base and leasing stability
- 1985 vintage allows targeted renovations to outperform older nearby stock
- 3-mile demographics show growth in households, supporting occupancy and renewals
- Risks: average school ratings, moderate income positioning, and measured (not rapid) occupancy improvements may temper near-term rent growth