| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 47th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 171 Forest Ave, Franklin, NC, 28734, US |
| Region / Metro | Franklin |
| Year of Construction | 1987 |
| Units | 33 |
| Transaction Date | 2022-10-10 |
| Transaction Price | $73,000 |
| Buyer | TROSSET GEORGE |
| Seller | ARROWHEAD LANDS INC |
171 Forest Ave, Franklin NC 33-Unit Multifamily
Neighborhood occupancy trends are competitive among Macon County neighborhoods and the renter-occupied share supports a stable tenant base, according to WDSuite’s CRE market data. Position within a small-town core offers day-to-day convenience that can aid retention.
Located in Franklin, NC, the property sits within a rural neighborhood that rates highly within the local metro (A rating, ranked 2 of 23 neighborhoods). Occupancy in the neighborhood is competitive among Macon County neighborhoods, and has improved over the past five years—helpful for lease stability. The area’s renter-occupied share indicates a meaningful tenant base for workforce-oriented units, while a small average household size suggests demand from singles, couples, and downsizing renters.
Everyday amenities are accessible: grocery and pharmacy availability rank near the top locally, while restaurants are relatively dense for a rural area. By contrast, parks and cafes are limited, so on-site community features may matter more for resident satisfaction. Average school ratings trend above many areas nationally, which can support leasing to households seeking baseline educational options.
Home values are lower than many U.S. neighborhoods, but relative to local incomes the value-to-income ratio sits on the higher side nationally. For multifamily investors, that high-cost ownership context can sustain rental demand and support retention over time. Neighborhood rents trend on the more accessible side versus national norms, and rent-to-income levels point to manageable affordability pressures that can aid collections and renewals.
The property’s 1987 vintage is newer than the neighborhood’s average construction year (1974). That positioning can offer a competitive edge versus older comparables, while still leaving room for targeted modernization to enhance unit finishes and building systems where needed. Demographic statistics cited here are aggregated within a 3-mile radius; a smaller average household size and steady local services point to consistent day-to-day livability, with leasing supported by proximity to jobs and retail in the town center.
Comparable crime data for this neighborhood is limited in WDSuite’s datasets, so investors should benchmark safety using county and town-level trends alongside property-level measures (lighting, access control, and management practices). Framing safety at the broader area level avoids over-interpreting block-level variance and helps keep underwriting assumptions conservative.
This 33-unit, 1987-vintage asset benefits from a competitive neighborhood position within Macon County and everyday convenience to core services. The combination of a meaningful renter-occupied housing share, manageable rent-to-income levels, and improved neighborhood occupancy supports steady leasing and retention. Newer-than-area-average vintage provides a relative edge versus older stock, with potential value-add through focused interior and systems upgrades.
Lower nominal home values paired with a higher national value-to-income positioning suggest a high-cost ownership context relative to local earnings—factors that can reinforce multifamily demand. Based on commercial real estate analysis from WDSuite, the neighborhood’s amenity access (grocery, pharmacy, restaurants) and small average household size indicate a viable tenant base for smaller formats, while the limited parks/cafes mix underscores the importance of on-site features and management execution.
- Competitive neighborhood standing in Macon County supports occupancy stability
- 1987 vintage newer than local average, with clear modernization/value-add pathways
- High-cost ownership context relative to incomes can sustain renter demand
- Amenity access (grocery/pharmacy/restaurants) enhances day-to-day livability and retention
- Risks: limited parks/cafes and small-town employer depth require strong on-site programming and careful rent positioning