| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 63rd | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1312 Old Spartanburg Rd, Hendersonville, NC, 28792, US |
| Region / Metro | Hendersonville |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1312 Old Spartanburg Rd Hendersonville Multifamily Investment
Neighborhood occupancy has been steady and the tenant base is supported by a majority share of renter-occupied housing units; according to WDSuite’s CRE market data, strong grocery and pharmacy access in this inner suburb helps underpin day-to-day convenience that can aid retention.
Built in 2013, this 24‑unit asset is newer than the neighborhood’s average vintage (1983), offering relative competitiveness versus older stock while still warranting routine capital planning as systems age. The location functions as an inner‑suburb node of the Asheville, NC metro with everyday services close by.
Amenity coverage is practical: grocery and pharmacy density rank near the top among 155 Asheville neighborhoods, and restaurants are also competitive. By contrast, parks, cafes, and childcare facilities are relatively sparse. For investors, this points to solid daily‑needs convenience with a leaner lifestyle amenity set.
At the neighborhood level, occupancy performance is in the top quartile among 155 metro neighborhoods and has strengthened over the last five years, supporting an expectation of stable lease-up and renewal dynamics. The share of housing units that are renter‑occupied is elevated, indicating a deeper tenant pool that can help sustain absorption across cycles.
Demographic statistics aggregated within a 3‑mile radius show recent population growth and forecasts for additional gains in both population and households, implying a larger renter pool ahead. Forecasts also point to smaller average household sizes, which can sustain multifamily demand. In a high‑cost ownership context for the neighborhood (home values and value‑to‑income ratios trend high versus national peers), multifamily options can reinforce pricing power and retention; these read‑throughs align with broader insights from WDSuite’s commercial real estate analysis.
Safety indicators are mixed when viewed comparatively. Within the Asheville metro, the neighborhood sits below the metro median on safety (ranked 30 out of 155 neighborhoods, where a lower rank denotes higher crime). However, it compares favorably against many neighborhoods nationwide, landing around the mid‑60s in national safety percentile terms.
Property‑related offenses have trended materially lower year over year, with improvement that places the neighborhood among stronger movers versus national peers, while violent‑offense measures sit modestly above the national midpoint with some recent uptick. Investors should interpret these as neighborhood‑level signals rather than block‑level conditions and consider ongoing monitoring as part of risk management.
Regional employers within commuting range support a diversified workforce renter base, with industrial, healthcare, and manufacturing roles represented. Proximity can aid leasing velocity and retention for residents prioritizing commute convenience to these nodes.
- Airgas Store — industrial gases (18.6 miles)
- UnitedHealth Group — managed healthcare (33.3 miles)
- 3M Greenville — manufacturing (38.6 miles)
- Parker-Hannifin Tech Seal Div — sealing systems manufacturing (42.4 miles)
- Caterpillar — heavy equipment (44.0 miles)
This mid-sized, 24‑unit community delivers a 2013 vintage in a submarket where neighborhood stock skews older, enhancing competitive positioning on finishes and systems versus legacy product. Neighborhood occupancy trends sit in the top quartile among Asheville neighborhoods, and the elevated share of renter‑occupied housing units points to depth of demand. Within a 3‑mile radius, recent population growth and projected increases in households suggest a larger tenant base, supporting occupancy stability and renewal performance.
Ownership costs in the neighborhood trend high relative to incomes, which can reinforce renter reliance on multifamily housing and support pricing power, while neighborhood‑level rent‑to‑income metrics indicate manageable affordability that can aid retention. According to WDSuite’s CRE market data, day‑to‑day convenience is bolstered by strong grocery, pharmacy, and restaurant access, though lifestyle amenities such as parks and cafes are thinner, which investors should weigh when positioning the asset.
- 2013 construction offers competitive positioning versus older neighborhood stock with measured capital needs
- Neighborhood occupancy ranks in the top quartile among 155 metro neighborhoods, supporting leasing stability
- 3‑mile population and household growth expand the renter pool, aiding absorption and renewals
- High ownership costs relative to incomes bolster multifamily demand and pricing power
- Risks: thinner park/cafe presence and mixed safety trends require thoughtful amenity programming and monitoring