| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 39th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 65 Church St, Waynesville, NC, 28786, US |
| Region / Metro | Waynesville |
| Year of Construction | 1983 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
65 Church St, Waynesville NC Multifamily Investment
Steady renter demand is supported by a meaningful share of renter-occupied housing in the neighborhood and everyday amenities nearby, according to WDSuite’s CRE market data. The asset’s central Waynesville location positions it to capture local workforce demand without relying on major urban commuting patterns.
Waynesville’s inner-suburb setting combines small-town access with practical amenities that matter for retention. Restaurant density ranks 8th of 155 Asheville metro neighborhoods and is in the 88th percentile nationally, while grocery access also ranks 8th of 155 with a national standing in the upper quartile. Pharmacies rank 3rd of 155 and sit in the 88th percentile nationally, signaling convenient daily-needs coverage. Cafés are limited (155th of 155), but parks (17th of 155; 73rd percentile nationally) and childcare options (17th of 155; 70th percentile nationally) provide livability supports.
The property was built in 1983, newer than the neighborhood’s average 1956 construction year. For investors, that generally indicates more competitive positioning versus older local stock, while still allowing targeted modernization or system upgrades as part of a value-add plan.
Neighborhood-level occupancy sits below national medians, but a 34.2% share of housing units being renter-occupied suggests a durable tenant base to support multifamily demand. Median contract rents in the neighborhood remain accessible relative to incomes, and a rent-to-income ratio around 0.19 points to manageable affordability pressure — supportive of lease retention and measured pricing power rather than outsized turnover risk.
Demographic statistics are aggregated within a 3-mile radius. Over the last five years, population and households contracted modestly; however, WDSuite’s projections point to a pivot with population growth of roughly the mid-teens and a sizable increase in households by 2028, implying a larger tenant base ahead. Combined with elevated ownership costs in context (a value-to-income ratio near 4.0), the local ownership landscape should continue to reinforce reliance on rental housing, supporting occupancy stability.
Safety indicators are mixed but generally favorable in national context. Overall crime sits around the 57th percentile compared with neighborhoods nationwide, indicating comparatively safer-than-average conditions. Within the Asheville metro’s 155 neighborhoods, recent readings place the area on the less favorable side of the distribution, so underwriting should account for submarket variation rather than assuming metro-wide averages.
Category detail is noteworthy: estimated property offense levels are strong in national terms (around the top decile), and violent offense levels align with the safer side nationally (roughly the 73rd percentile). Trends are important for risk management: property offenses have eased year over year, while violent offense readings show a recent uptick from a low base. Framing these together suggests maintaining standard security measures and monitoring local trendlines rather than drawing block-level conclusions.
Regional employers within commuting distance support local renter demand and help diversify the tenant base. Notable nearby presence includes the following employer.
- Airgas Store — industrial gases corporate office (26.4 miles)
This 56-unit, 1983-vintage asset offers a balanced value proposition: newer-than-neighborhood stock for competitive positioning, practical amenity access that supports retention, and a renter base deep enough to sustain leasing. According to commercial real estate analysis from WDSuite, neighborhood rents remain relatively accessible against incomes, which can support occupancy stability and measured rent growth versus outsized turnover. Nationally favorable readings for property and violent offense categories further underpin day-to-day livability, while metro-relative variation merits prudent operations.
Forward-looking demographics within a 3-mile radius signal a pivot toward growth by 2028, with projected increases in both population and households that expand the renter pool. Elevated ownership costs in context point to continued reliance on rental options, supporting demand for well-managed, updated units. A targeted renovation program can focus on modernization and system refreshes typical for 1980s construction, balancing CapEx with rent positioning.
- 1983 vintage offers competitive positioning versus older local stock with selective value-add upside
- Amenity-rich daily needs (restaurants, groceries, pharmacies) support retention and leasing
- Renter concentration and accessible rent-to-income dynamics support demand depth and lease stability
- 3-mile projections indicate growth in population and households, expanding the tenant base
- Risks: metro-relative crime variation, below-median neighborhood occupancy, and limited nearby major employers