| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 46th | Good |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 415 26th Ave NE, Hickory, NC, 28601, US |
| Region / Metro | Hickory |
| Year of Construction | 2007 |
| Units | 48 |
| Transaction Date | 2006-09-12 |
| Transaction Price | $275,000 |
| Buyer | VILLAS AT NORTHVIEW LLC |
| Seller | BROWN OPERATING CO INC |
415 26th Ave NE Hickory Multifamily Investment Opportunity
Neighborhood occupancy trends are steady near the metro median, supporting rent roll durability according to WDSuite’s CRE market data. Built 2007, the asset’s newer vintage versus local stock positions it well to compete for tenants in an inner-suburban location.
This inner-suburban pocket of Hickory ranks in the top quartile among 130 metro neighborhoods (Neighborhood rating: A), reflecting balanced livability and leasing fundamentals. Neighborhood occupancy is near the metro median and around the national midpoint, which points to stable, albeit competitive, leasing conditions for similar assets in the area — a useful benchmark for underwriting, not a measure of this property’s occupancy.
The property’s 2007 construction is newer than the neighborhood’s average vintage (2000). That typically reduces near-term capital needs and enhances competitive positioning versus older comps, though investors should still underwrite system refreshes and selective modernization for retention and rent trade‑outs over the hold period.
Amenities are a relative strength at the neighborhood level: cafés and groceries rank competitive among Hickory‑Lenoir‑Morganton neighborhoods, and restaurants sit above metro norms. However, park access is limited, which may slightly temper outdoor‑oriented appeal; effective amenity programming on site can offset some of that gap. Average school ratings trend below national averages, which can influence family renter preferences and should be considered in marketing and unit‑mix strategy.
Renter concentration in the neighborhood is roughly half of housing units (renter‑occupied share near 49%), indicating a deep tenant base that helps sustain multifamily demand and supports occupancy stability over time. At the same time, neighborhood rent‑to‑income around 0.20 suggests manageable affordability pressure, which can aid renewal retention and reduce turnover risk.
Within a 3‑mile radius, demographics show recent population and household growth with forecasts calling for additional household expansion over the next five years. This trend implies a larger tenant base and steady absorption capacity for well‑positioned multifamily. Home values sit in a high‑cost ownership context relative to local incomes (elevated value‑to‑income ratio versus national norms), which tends to reinforce reliance on rental options and supports pricing power for competitive assets, based on CRE market data from WDSuite.
Comparable, block‑level crime metrics were not available in the current WDSuite release for this neighborhood. Investors typically assess safety by comparing neighborhood trends to city and metro benchmarks and by reviewing multi‑year directionality rather than single‑year snapshots. Where data is available, use it to frame risk controls such as lighting, access management, and community engagement — and avoid treating neighborhood indicators as proxies for property‑specific conditions.
Large regional employers within commuting range help anchor renter demand, with utilities, home improvement retail, and pharmaceuticals supporting a diversified employment base relevant to workforce and professional households.
- Duke Energy — utilities (28.3 miles)
- Lowe's — home improvement retail (30.8 miles) — HQ
- Merck — pharmaceuticals (43.5 miles)
415 26th Ave NE offers a 2007‑vintage multifamily profile in an inner‑suburban Hickory neighborhood that ranks in the top quartile among 130 metro neighborhoods. Neighborhood occupancy sits near the metro median and around the national midpoint, indicating steady leasing conditions for comparable assets. A renter‑occupied share near half of housing units suggests depth in the tenant pool, while a rent‑to‑income ratio near 0.20 points to moderate affordability pressure that can support renewals and reduce concessions risk.
Within a 3‑mile radius, recent growth in population and households — with additional household expansion forecast — aligns with a larger renter base over the medium term. Elevated ownership costs relative to incomes at the neighborhood level reinforce sustained rental demand. According to CRE market data from WDSuite, the property’s newer‑than‑average vintage helps it compete against older stock, though investors should still budget for targeted system updates and value‑add finishes to drive rent trade‑outs.
- Newer 2007 vintage versus local average supports competitive positioning and moderates near‑term capital needs.
- Neighborhood occupancy near metro median and broad renter base underpin demand and leasing stability.
- 3‑mile household growth and forecasts indicate a larger tenant base, aiding absorption and renewals.
- High‑cost ownership context versus incomes supports rental reliance and measured pricing power.
- Risks: limited park access and below‑average school ratings may affect family appeal; plan amenities and marketing accordingly.