| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 31st | Poor |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 422 Alfred St, Fayetteville, NC, 28301, US |
| Region / Metro | Fayetteville |
| Year of Construction | 2010 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
422 Alfred St, Fayetteville NC Multifamily Investment
Newer 2010 vintage in a renter-heavy neighborhood supports steady tenant demand, according to CRE market data from WDSuite. Neighborhood occupancy has trended up over five years, suggesting stable leasing conditions with prudent asset management.
The property’s 2010 construction stands out against a neighborhood housing stock that skews older, positioning the asset competitively versus legacy product. For investors, the newer vintage can reduce near-term capital needs while still allowing targeted upgrades to drive rent trade‑outs and retention.
Neighborhood context is mixed but investable. Renter-occupied housing accounts for a large share of units (high renter concentration, top quartile among 162 metro neighborhoods), which deepens the tenant base and supports demand for smaller formats. Overall occupancy in the neighborhood sits below the metro median but has improved over the past five years, a constructive sign for stabilization with disciplined leasing strategy.
Local amenities are uneven: restaurant density is competitive among Fayetteville neighborhoods, but cafes, parks, and pharmacies are limited within the immediate area. Grocery access is serviceable at the metro level. For multifamily operations, this mix suggests resident convenience for essentials with fewer lifestyle draws nearby, which places greater emphasis on on-site features and management-driven resident experience.
Within a 3‑mile radius, demographic statistics indicate modest population contraction historically alongside a slight decline in average household size. Forward-looking projections point to an increase in households and a smaller average household size, implying potential renter pool expansion even if population growth is modest. Coupled with a high neighborhood renter share, this trend can underpin occupancy stability and leasing velocity for well-managed assets.
Home values in the neighborhood are comparatively low versus national benchmarks. In practice, more accessible ownership options can create competition for price-sensitive renters, but the neighborhood’s strong renter orientation and relatively manageable rent-to-income levels support lease retention and reduce turnover risk when revenue management is calibrated carefully.
School ratings in the area trail national norms, which can matter for family-oriented demand; however, the submarket’s renter concentration and smaller household sizes suggest a core audience aligned to workforce and value-focused renters rather than top school‑district seekers.
Safety metrics for the neighborhood trend below national averages, with crime indicators placing the area in the lower national percentiles. Within the Fayetteville metro, ranks are closer to the middle of the pack among 162 neighborhoods, indicating conditions that are not among the metro’s strongest. Recent year-over-year readings show some uptick in reported offenses. For underwriting, investors typically reflect this context through security measures, tenant screening, and insurance assumptions, while noting that safety performance can vary block to block and over time.
This 36‑unit asset built in 2010 offers a newer vintage relative to surrounding stock, providing competitive positioning versus older properties and potential to capture value through targeted renovations rather than full system overhauls. High renter concentration in the neighborhood supports a deep tenant base, while neighborhood occupancy has improved over five years, pointing to stable operations with attentive leasing and collections. Based on CRE market data from WDSuite, local ownership costs are comparatively low, so pricing discipline is important; however, manageable rent-to-income dynamics can support retention when amenities and service levels meet expectations.
Within a 3‑mile radius, projections indicate more households and smaller average household size over the next several years, which can expand the renter pool and help sustain occupancy for well-managed communities. Amenity access is mixed, with solid restaurant presence but fewer cafes, parks, and pharmacies nearby—placing a premium on property-level convenience and resident experience to support lease renewals.
- 2010 construction offers competitive positioning versus older neighborhood stock with selective value‑add upside.
- High renter concentration deepens the tenant base and supports demand for smaller units.
- Neighborhood occupancy has improved over five years, supporting steady operations with disciplined management.
- Household growth and smaller household sizes within 3 miles suggest renter pool expansion and leasing durability.
- Risks: safety metrics below national norms, lower-cost ownership competition, and limited nearby amenities beyond restaurants.