| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 20th | Poor |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 132 Harper Ln, Franklin, NC, 28734, US |
| Region / Metro | Franklin |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2013-03-01 |
| Transaction Price | $475,000 |
| Buyer | WESTGATE TERRACE NC LLC |
| Seller | MAMIESAN LLC |
132 Harper Ln Franklin 24-Unit Multifamily Investment
The surrounding neighborhood’s occupancy trends rank in the top quartile among 23 metro neighborhoods, signaling stable renter demand, according to WDSuite’s CRE market data. Newer construction at the property level further supports competitive positioning versus older local stock.
Located in Franklin, North Carolina, the property sits in a suburban neighborhood rated A- among 23 metro neighborhoods, indicating overall strength relative to the market. The area posts an occupancy ranking in the top quartile locally, a favorable signal for sustaining leases and reducing downtime for operators.
Amenity access is mixed. Grocery and pharmacy availability compares well to peers in the metro, while cafes, parks, and childcare options are limited. For investors, this combination often aligns with day-to-day convenience for residents but suggests fewer discretionary amenity nodes in the immediate vicinity.
Home values in the neighborhood sit in the top quartile nationally, which typically reinforces reliance on multifamily rentals and can support pricing power. At the same time, the neighborhood’s median household income trends low and rent-to-income ratios are elevated, which points to affordability pressure that may require active lease management and thoughtful renewal strategies.
The average building vintage in the neighborhood skews older (late 1980s), whereas this property was built in 2013. Newer construction generally provides a competitive edge versus older inventory; investors should still underwrite routine system updates and potential modernization to keep finishes and amenities on par with resident expectations.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location. Investors commonly benchmark broader city and county trends and review owner/manager incident logs to contextualize risk, then align security measures to resident expectations and asset strategy.
Completed in 2013 with 24 units, this asset offers newer-vintage positioning relative to a predominantly older neighborhood stock, supporting leasing competitiveness and potentially lower near-term capital needs. The neighborhood ranks in the top quartile locally for occupancy, and elevated home values suggest sustained renter reliance on multifamily housing. Based on commercial real estate analysis from WDSuite, the combination reinforces demand durability while favoring disciplined revenue management over aggressive rent pushes.
Key underwriting considerations include the area’s lower household incomes and higher rent-to-income ratios, which elevate retention risk and necessitate careful renewal and concession strategies. Amenity nodes are practical (grocers and pharmacies) but thinner for leisure uses, which places more emphasis on property-level features and management quality to drive retention.
- 2013 vintage competes well versus older neighborhood stock, with manageable near-term capital planning
- Top-quartile local occupancy supports leasing stability and reduces downtime risk
- Elevated ownership costs in the area reinforce renter demand and potential pricing power
- Practical amenities (grocery, pharmacy) nearby; fewer leisure nodes increase emphasis on on-site experience
- Risks: lower household incomes and higher rent-to-income ratios require cautious lease and renewal strategy