| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 48th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 S Bost Ave, Newton, NC, 28658, US |
| Region / Metro | Newton |
| Year of Construction | 1972 |
| Units | 25 |
| Transaction Date | 1986-03-01 |
| Transaction Price | $500,000 |
| Buyer | BOB CAROLINA LLC |
| Seller | J&C INVESTMENT PROPERTIES LLC |
300 S Bost Ave Newton Multifamily Investment
Neighborhood occupancy trends point to stable leasing conditions, with demand supported by a suburban amenity base and accessible rents, according to CRE market data from WDSuite. For investors, the thesis centers on steady renter demand rather than outsized rent growth.
The property sits in a suburban Newton location rated A within the Hickory-Lenoir-Morganton metro, indicating competitive neighborhood fundamentals among 130 metro neighborhoods. Amenity access is a relative strength, with restaurants, cafes, parks, groceries, and pharmacies ranking competitive among metro peers — a pattern that typically supports day-to-day convenience and renter retention.
Neighborhood occupancy is in the mid-90s and has improved over the past five years, placing the area competitive among Hickory-Lenoir-Morganton neighborhoods and in the upper tier nationally for stability, based on WDSuite’s CRE market data. Contract rents remain accessible in the neighborhood context, and the rent-to-income profile suggests manageable affordability pressure — a backdrop that can aid lease renewals and limit turnover risk.
Within a 3-mile radius, household counts have grown even as overall population edged lower, signaling smaller household sizes and a gradually expanding tenant base. Forward-looking estimates call for population and household growth over the next five years, which would enlarge the renter pool and help sustain occupancy if realized. Average school ratings are around the middle of the pack, which is serviceable for most workforce renters but not a primary demand driver.
Built in 1972 — slightly newer than the neighborhood’s typical vintage — the asset may enjoy relative competitiveness versus older stock, though investors should still anticipate targeted system upgrades or modernization to meet current renter expectations. The surrounding area skews more owner-occupied than renter-occupied, which often supports stable demand for well-managed multifamily assets that provide more accessible rental options compared with ownership.
Comparable neighborhood-level crime metrics are not available in the current dataset for this location. Investors typically benchmark conditions against city and county trends, evaluate multi-year trajectories, and incorporate on-the-ground diligence (lighting, sightlines, and property management practices). The area’s suburban profile and overall A neighborhood rating provide useful context, but decisions should rely on corroborating public sources and professional assessments.
Regional employers in energy, home improvement retail, pharmaceuticals, and distribution are within commuting distance, supporting a diversified workforce renter base and commute convenience for tenants. The list below highlights nearby nodes likely to influence leasing stability through employment access.
- Duke Energy — energy (19.0 miles)
- Lowe's — home improvement retail (22.5 miles) — HQ
- Merck — pharmaceuticals (34.4 miles)
- AmerisourceBergen Healthcare Consultants — healthcare services (36.1 miles)
- Sysco — foodservice distribution (36.2 miles)
300 S Bost Ave presents a small-scale multifamily opportunity in a metro-ranked A neighborhood where occupancy trends are firm and day-to-day amenities are competitive among Hickory-Lenoir-Morganton peers. According to CRE market data from WDSuite, neighborhood occupancy sits in the mid-90s with multi-year improvement, while local rents remain relatively accessible — a combination that supports retention and predictable cash flows versus volatility-driven growth stories.
The asset’s 1972 vintage is slightly newer than the neighborhood average, offering a competitive edge against older stock; however, investors should plan for targeted capital projects to modernize systems and finishes as needed. Within a 3-mile radius, rising household counts and projected gains in both households and population point to a larger tenant base over the next five years, even as the area remains more owner-oriented — a backdrop that can underpin occupancy but may temper the immediate depth of the renter pool.
- Occupancy stability in a metro A-rated neighborhood supports steady cash flow potential.
- Amenity-rich suburban setting (dining, parks, groceries) aids renter retention.
- 1972 vintage offers competitive positioning versus older stock, with value-add via targeted modernization.
- Demographic outlook within 3 miles indicates growth in households, reinforcing the tenant base.
- Risks: owner-leaning area may limit near-term renter depth; capex for aging systems should be budgeted.