| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 42nd | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 Island Ford Rd, Maiden, NC, 28650, US |
| Region / Metro | Maiden |
| Year of Construction | 2000 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
505 Island Ford Rd, Maiden NC Multifamily Investment
Neighborhood occupancy is strong and stable versus broader metro patterns, supporting durable leasing potential according to WDSuite’s CRE market data. Proximity to regional employers further underpins renter demand in this Catawba County location.
Located in Maiden within the Hickory–Lenoir–Morganton metro, the neighborhood posts a B+ rating and sits 43rd of 130 metro neighborhoods, indicating competitive among Hickory–Lenoir–Morganton neighborhoods positioning for investors screening workforce housing. The area is classified as Rural, so daily-life conveniences matter: pharmacies score well (14th of 130) and groceries are accessible (25th of 130), while cafes and parks are limited. These dynamics suggest residents rely on essential retail nodes, shaping tenant expectations and marketing strategy.
Neighborhood occupancy is elevated at the area level and ranks 21st of 130, placing it in the top quartile nationally by percentile. For investors, this points to relatively steady lease-up and retention at the neighborhood level rather than at a single property. Renter concentration within a 3-mile radius is about one-quarter of housing units, indicating a measurable tenant base without being heavily renter-dense; this typically supports stable demand for well-managed multifamily assets.
Within a 3-mile radius, recent population trends show modest growth over the last five years alongside a larger increase in household count, implying smaller household sizes and a broader base of households entering the market. Looking forward, projections show households continuing to increase even as total population is expected to contract, which can still support occupancy stability by expanding the number of renting households. Median contract rents in the 3-mile radius are projected to rise by the next five years, reinforcing revenue management opportunities when paired with thoughtful leasing and retention strategies.
Home values in the neighborhood are lower than national medians, which can modestly increase competition from entry-level ownership options. For multifamily owners, that typically translates to a focus on value, convenience, and maintenance responsiveness to sustain pricing power and reduce turnover. Construction across the neighborhood skews slightly older than this property; with a 2000 vintage against a neighborhood average year of 1992, the asset is relatively newer and may compete well versus older stock, though planning for system updates and modernization remains prudent over a long hold.
Safety indicators are mixed when viewed across neighborhood and national benchmarks. Overall crime performance ranks 31st of 130 metro neighborhoods (lower ranks indicate higher crime in this framework), yet national percentiles place the area modestly safer than average overall. Property-related incidents compare favorably to national norms (high percentile) and improved year over year, while violent offense metrics sit above national averages but have shown recent volatility. Investors should interpret this as a block-to-block dynamic typical of smaller metros: generally stable conditions with pockets of fluctuation rather than a uniform trend.
As with any acquisition, underwriting should incorporate routine safety diligence, leasing practices, and site-specific measures. Comparisons should be made at the neighborhood level, not assumed for the property itself.
The workforce draw includes utilities, home improvement retail, pharmaceuticals, and healthcare distribution/consulting, supporting commute convenience and renter demand for a range of wage bands.
- Duke Energy — utilities (12.7 miles)
- Lowe's — home improvement retail (19.3 miles) — HQ
- Merck — pharmaceuticals (29.0 miles)
- AmerisourceBergen Healthcare Consultants — healthcare distribution/consulting (29.4 miles)
- Duke Energy — utilities (30.5 miles) — HQ
505 Island Ford Rd offers 120 units with a 2000 construction year, positioning the asset as relatively newer than much of the surrounding stock. At the neighborhood level, occupancy ranks in the top cohort across the metro and remains above national midpoints, which, according to CRE market data from WDSuite, supports a case for stable leasing and tenant retention when paired with disciplined operations. The Rural classification and solid access to essentials (pharmacies and groceries) indicate day-to-day convenience for residents despite a leaner amenity mix.
Within a 3-mile radius, household counts have expanded and are projected to keep rising even as total population is forecast to decline, signaling smaller household sizes and a wider base of potential renters. Median contract rents are expected to grow over the next five years, providing revenue optimization potential. Home values below national medians mean ownership is relatively accessible, which can moderate pricing power; this typically rewards operators who emphasize value, maintenance, and service to drive renewals.
- Neighborhood-level occupancy sits in the top metro cohort and above national midpoints, supporting leasing stability.
- 2000 vintage offers competitive positioning versus older nearby stock with targeted modernization potential.
- 3-mile household growth and projected rent gains support demand depth and revenue management.
- Essential retail access (pharmacies, groceries) fits workforce renters despite a leaner amenity base.
- Key risks: rural amenity limits, potential competition from entry-level ownership, and recent volatility in violent offense metrics.