| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 54th | Good |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 185 E Sylva Cir, Sylva, NC, 28779, US |
| Region / Metro | Sylva |
| Year of Construction | 2009 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | $8,786,000 |
| Buyer | Dillsboro Health Investors LLC |
| Seller | Jackson Health Investors, LLC |
185 E Sylva Cir, Sylva NC — 52-Unit 2009 Multifamily
Neighborhood occupancy sits in the mid‑80s and a meaningful share of housing units are renter‑occupied, supporting demand resilience for stabilized operations, according to WDSuite’s CRE market data. Positioned in suburban Sylva, the asset benefits from local amenities and a high-cost ownership market that can sustain renter reliance.
The property’s 2009 vintage is notably newer than the neighborhood’s older housing stock, offering competitive positioning versus assets built around the mid‑1960s. For investors, that can translate to fewer near‑term capital surprises relative to legacy product, while still planning for mid‑life systems and common‑area refreshes as part of long‑run asset management.
Local amenity access is competitive among Cullowhee metro neighborhoods (29 total), with dining, cafes, groceries, parks, and pharmacies all benchmarking above the metro median and around the middle of national distributions. Average school ratings sit near the national midpoint and rank near the top within the 29‑neighborhood metro context, a relative local strength that can help with retention for family‑oriented renter households.
Neighborhood occupancy is in the mid‑80s with a material renter‑occupied share of housing units, indicating a defined tenant base and reasonable renewal prospects. Median contract rents in the area remain modest by national standards, which, together with a rent‑to‑income profile around the national mid‑to‑upper range, suggests manageable affordability pressure and supports lease stability rather than aggressive turnover management.
Within a 3‑mile radius, recent trends show slightly lower population counts but a net increase in households alongside smaller average household sizes. For multifamily, that dynamic points to a larger tenant pool for smaller formats and continued demand for rental options. Looking ahead to the current forecast window, households are projected to rise further even as sizes trend down, which typically supports occupancy stability and steady absorption for well‑located communities.
Home values in the neighborhood track in a high‑cost ownership range relative to local incomes (high national percentile for value‑to‑income). In investor terms, a high‑cost ownership market tends to reinforce rental demand and can underpin pricing power for well‑maintained, conveniently located properties without over‑reliance on outsized concessions.
Comparable, verified neighborhood‑level crime metrics are not available for this area in the current WDSuite release. Investors commonly evaluate safety by triangulating county and metro trend reports, property‑level security measures, and resident feedback over time rather than relying on block‑level claims. Any on‑site improvements to lighting, access control, and visibility can further support resident retention and leasing.
The employment base within commuting reach includes industrial services that can support steady renter demand for workforce housing. The list below reflects nearby employers referenced in WDSuite and their approximate distances.
- Airgas Store — industrial gases distribution (40.5 miles)
Built in 2009 with 52 units, 185 E Sylva Cir competes favorably against older neighborhood stock while remaining young enough to manage capital needs predictably. Neighborhood occupancy is in the mid‑80s and the renter‑occupied share indicates depth to the tenant base; together with a high‑cost ownership context, this supports stable leasing and measured pricing power. According to CRE market data from WDSuite, amenity access ranks competitively within the 29‑neighborhood Cullowhee metro, and school ratings, while around the national midpoint, score near the top locally—both helpful for retention.
Three‑mile demographics show modest population drift but growth in household counts and declining household sizes—patterns that generally expand the renter pool and favor absorption for well‑located multifamily. Forward projections continue that theme, implying steady demand for practical floor plans and professionally managed operations, with value‑add upside focused on unit finishes and common‑area enhancements rather than heavy systems replacement.
- 2009 vintage versus older local stock supports competitive positioning with manageable capital planning.
- Mid‑80s neighborhood occupancy and a defined renter‑occupied base support retention and leasing stability.
- High‑cost ownership market reinforces rental demand and measured pricing power.
- 3‑mile household growth and smaller household sizes expand the tenant pool for smaller formats.
- Risk: modest population contraction and limited nearby corporate anchors warrant conservative revenue underwriting.