| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 50th | Fair |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 607 Lee Rd, Clyde, NC, 28721, US |
| Region / Metro | Clyde |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2025-04-03 |
| Transaction Price | $2,040,000 |
| Buyer | BANFF PROPERTIES LLC |
| Seller | CLYDE RESIDENTIAL LLC |
607 Lee Rd, Clyde NC 24-Unit Multifamily
Neighborhood occupancy trends are competitive within the Asheville metro while rent-to-income levels suggest manageable affordability, according to WDSuite’s CRE market data, supporting stable leasing for a 24-unit asset. In a rural submarket with steady renter demand, investors can focus on durable cash flow over near-term volatility from broader commercial real estate analysis cycles.
Located in the Asheville, NC region, this rural neighborhood carries a B rating and performs above the metro median (rank 61 of 155) on overall neighborhood quality. Occupancy trends are competitive among Asheville neighborhoods (rank 26 of 155) and roughly in line with national norms, suggesting steady tenant retention potential for multifamily assets.
Local livability is mixed: grocery access is solid relative to national peers (around the 60th percentile), while parks, pharmacies, and cafes are sparse, consistent with the rural setting. Schools average 4.0 out of 5 and rank 6 of 155 in the metro, placing the area in the top quartile nationally for school quality — a supportive signal for family-oriented renter demand.
The housing stock here skews owner-occupied; renter-occupied units account for about one-quarter of housing, indicating a smaller but stable renter base that can underpin leasing continuity rather than high-turnover dynamics. Median contract rents in the neighborhood sit near the national middle, and the rent-to-income ratio trends favorable (upper national percentiles), which can support retention and measured pricing power. Home values are moderate for the region, which reduces extreme affordability pressure while still sustaining reliance on rentals for households prioritizing flexibility.
Demographics within a 3-mile radius indicate recent population growth with projections for additional gains over the next five years, alongside an expected increase in household count. This outlook points to a larger tenant base over time, which can support occupancy stability for well-positioned properties. Based on CRE market data from WDSuite, the property’s 2003 vintage is newer than the neighborhood’s average construction year (1990), offering relative competitiveness versus older stock while leaving room for targeted modernization and systems updates as part of capital planning.
Neighborhood-level crime metrics are not available in WDSuite for this location, so direct comparisons to Asheville-area peers cannot be confirmed here. Investors typically contextualize safety with regional trend reviews and on-the-ground diligence to validate leasing risk and retention expectations.
- Airgas Store — industrial gases distribution (22.7 miles)
The employment base accessible from this rural node is anchored by regional industrial and services operations that support workforce housing and commuting tenants; highlighted below are nearby employers referenced in WDSuite.
This 24-unit, 2003-vintage asset offers relative competitiveness against older neighborhood stock and benefits from occupancy levels that are competitive within the Asheville metro. Favorable rent-to-income dynamics point to manageable affordability, supporting tenant retention and consistent collections. According to CRE market data from WDSuite, local schools rank among the metro’s best, and projected population and household gains within 3 miles expand the renter pool, reinforcing long-term leasing stability.
Key considerations include a rural setting with limited amenity depth and an owner-tilted housing mix that implies a smaller renter base; however, these factors can also temper turnover and support durable cash flow for well-managed properties. Targeted modernization should focus on operations and selective unit refreshes to maintain competitive positioning versus older comps.
- 2003 vintage provides an edge over older neighborhood inventory with focused value-add opportunities.
- Competitive neighborhood occupancy supports steady leasing and potential retention advantages.
- Favorable rent-to-income profile enables measured pricing while sustaining tenant stability.
- Projected population and household growth within 3 miles expands the tenant base over the medium term.
- Risks: rural amenity depth and smaller renter concentration may limit rapid lease-up without targeted marketing.