| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Good |
| Demographics | 72nd | Best |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 444 Jones Cove Rd, Clyde, NC, 28721, US |
| Region / Metro | Clyde |
| Year of Construction | 1972 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
444 Jones Cove Rd, Clyde NC Value-Add Multifamily
Older 1972 vintage with smaller units positions this 23‑unit asset for targeted renovations and durable workforce demand, according to WDSuite’s CRE market data. Neighborhood rental fundamentals are stable but not tight, so underwriting should emphasize value creation and leasing execution.
Clyde sits within the Asheville, NC metro and this suburban neighborhood carries a B+ rating (ranked 42 out of 155 metro neighborhoods), indicating balanced livability for workforce renters. Amenities are mixed: grocery and restaurant access track near metro norms, while parks, pharmacies, and cafes are sparse. Public school quality trends strong for the metro (average rating of 4.0 with a high local rank), which can aid family retention even if daily convenience retail is limited.
The property’s 1972 construction is older than the neighborhood’s average vintage (2002), pointing to likely capital expenditure planning and clear value‑add potential through interior updates and system modernization. In return, refreshed units can compete well against newer stock on finishes while maintaining a relative price advantage.
Within a 3‑mile radius, WDSuite data shows a renter‑occupied share of housing units around one in five, signaling a modest but reliable tenant base. Forecasts through 2028 indicate population growth and a sizable increase in the household count, which should expand the local renter pool and support occupancy stability for well‑positioned properties. Median incomes are projected to rise alongside rents, suggesting room for measured rent optimization while monitoring affordability pressure for lease management.
Ownership remains comparatively costly in the neighborhood context (elevated value‑to‑income levels), which tends to reinforce reliance on multifamily housing and can support pricing power for renovated units. At the same time, neighborhood occupancy has been softer than national norms recently, so investors should plan for active leasing and asset differentiation rather than assuming automatic lease‑up strength.
Comparable, property‑level crime statistics are not available for this neighborhood in WDSuite at this time. Investors typically benchmark safety using township and county trend reports and compare those to broader Asheville metro patterns to understand directional risk and potential implications for leasing and retention. Use a consistent, metro‑relative framework and monitor trend changes rather than isolated snapshots.
The local renter base is supported by regional industrial and distribution employment reachable within a reasonable commute. Notable nearby employer:
- Airgas Store — industrial gases distribution (23.2 miles)
This 23‑unit asset at 444 Jones Cove Rd offers a straightforward value‑add play: a 1972 vintage with compact floor plans in a suburban Asheville location where ownership costs are elevated relative to incomes. According to CRE market data from WDSuite, neighborhood occupancy is not tight, which places a premium on renovations, competitive pricing, and professional leasing to capture demand. The trade‑off is clear: capex and repositioning can unlock rent steps while preserving an affordability edge versus newer product.
Demographics aggregated within a 3‑mile radius point to population growth and a meaningful increase in households over the next five years, expanding the tenant base. Rising local incomes alongside projected rent growth suggest potential for measured rent advancement and steady retention if affordability is managed. Proximity to a broader Asheville employment shed supports commuter convenience, even as immediate neighborhood amenities remain limited.
- Clear value‑add thesis: 1972 vintage creates scope for interior upgrades and system modernization
- Expanding renter pool: 3‑mile population and household growth support demand and occupancy stability
- Pricing power potential: elevated ownership costs in the neighborhood context sustain reliance on rentals
- Income tailwinds: rising local incomes provide room for measured rent optimization with careful lease management
- Risks: softer neighborhood occupancy and limited nearby amenities require active leasing and differentiated product