| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 50th | Good |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5190 Glenwood Place Ct, Hickory, NC, 28602, US |
| Region / Metro | Hickory |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2002-10-31 |
| Transaction Price | $253,900 |
| Buyer | --- |
| Seller | --- |
5190 Glenwood Place Ct Hickory 24-Unit Multifamily
Positioned in an A-rated inner-suburb pocket of Hickory, the asset benefits from steady renter demand and comparatively manageable rent levels, according to WDSuite’s CRE market data.
This A-rated Inner Suburb ranks 19 out of 130 Hickory-Lenoir-Morganton neighborhoods, positioning it as competitive among metro peers. Dining access is a relative strength, with restaurants and cafés ranking in the stronger tier locally, while pharmacy access also compares favorably. Park and childcare options are limited within the neighborhood footprint, so residents typically rely on surrounding areas for recreation and services.
Neighborhood occupancy is reported at the neighborhood level and has softened over five years, suggesting investors should underwrite leasing velocity conservatively. The share of housing units that are renter-occupied in the neighborhood sits in the upper tier locally, indicating a meaningful tenant base without being renter-dominant—supportive of demand depth for a 24-unit property.
Construction trends indicate an average neighborhood vintage around the late 1990s. With a 2003 build, the property is somewhat newer than nearby stock, which can help competitiveness versus older assets while still warranting targeted capital planning for systems and common-area refreshes as needed.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, population edged down while incomes trended higher; forward-looking data indicates households are expected to increase even as population is projected to contract, pointing to shifting household sizes and a potentially larger renter pool relative to total residents. In practice, this mix supports leasing resilience if product and pricing align with local incomes.
Home values in the neighborhood are lower relative to many U.S. areas, which can introduce some competition from ownership options. At the same time, rent-to-income sits near the national middle, which can aid lease retention and day-to-day pricing power when operations are managed with affordability pressure in mind.
Comparable crime metrics for this neighborhood were not available in the current WDSuite data release. Investors typically benchmark neighborhood safety by comparing recent local trends to metro and national patterns and by underwriting appropriate security, lighting, and design measures as part of the asset plan.
Proximity to regional employers supports a commuter-friendly renter base, with a mix of energy, home improvement, pharmaceuticals, and healthcare distribution roles that can stabilize leasing for workforce-oriented units.
- Duke Energy — energy operations (25.5 miles)
- Lowe's — home improvement retail HQ (30.4 miles) — HQ
- Merck — pharmaceuticals (41.6 miles)
- AmerisourceBergen Healthcare Consultants — healthcare services (41.9 miles)
5190 Glenwood Place Ct offers a 2003 vintage in an A-rated inner-suburb location that ranks 19 of 130 metro neighborhoods—competitive among Hickory-Lenoir-Morganton peers. The asset’s slightly newer vintage versus the neighborhood average can support leasing competitiveness and moderate near-term capital needs, while the local renter-occupied share signals a meaningful tenant base without oversaturation. According to CRE market data from WDSuite, neighborhood occupancy has eased over the past five years, so conservative lease-up and renewal assumptions are prudent.
Within a 3-mile radius, household counts are projected to rise even as population trends down, indicating changing household sizes and potential renter pool expansion. Amenity access is serviceable—stronger in food and pharmacy access, thinner in parks—and home values are comparatively accessible for owners, which may create some competition with rentals. Balanced against manageable rent-to-income positioning and a workforce-accessible employer base, the property’s thesis centers on steady demand with disciplined pricing and focused asset management.
- 2003 build offers relative competitiveness versus older neighborhood stock
- A-rated neighborhood, competitive rank (19 of 130) within the metro
- 3-mile area shows rising household counts, supporting tenant base depth
- Food and pharmacy access bolster everyday livability for residents
- Risks: neighborhood occupancy has softened; school quality is weaker; ownership options may compete with rentals