| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Good |
| Demographics | 33rd | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 635 W Court St, Marion, NC, 28752, US |
| Region / Metro | Marion |
| Year of Construction | 1982 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
635 W Court St, Marion NC Multifamily Opportunity
Positioned in an inner-suburban pocket of Marion with steady renter demand at the neighborhood level, this 60-unit asset offers durable cash flow potential, according to WDSuite s CRE market data.
The property sits in an Inner Suburb neighborhood graded A and ranked 3rd among 26 metro neighborhoods placing it in the top quartile locally. Neighborhood metrics, not property performance, point to balanced livability with everyday conveniences: grocery and pharmacy access track above many peers in the region, while parks and cafes are limited. Restaurant density is modestly above national norms, and childcare access rates as comparatively strong for the area.
For investors, rent levels in the neighborhood remain on the lower end compared with national benchmarks, which can support leasing velocity and depth of the tenant base. By contrast, home values are relatively low in absolute terms but high when compared with local incomes (value-to-income ranks high nationally), creating a high-cost ownership context that can reinforce reliance on rental housing rather than ownership, supporting pricing power at attainable rent points.
Neighborhood occupancy is reported in the high-80s and should be interpreted as a neighborhood measure, not the property s own performance. Renter-occupied share is elevated for the neighborhood (near half of units are renter-occupied), indicating a sizable renter pool and potential demand stability for multifamily. Average school ratings in the area trend below the national median, which may influence family-oriented demand but does not preclude workforce housing performance.
Within a 3-mile radius, recent years show softer population and household counts, but WDSuite s forecasts indicate growth ahead with increasing households and higher median incomes, suggesting a larger tenant base over the medium term. For underwriting, this points to near-term steadiness with improving fundamentals that can support occupancy stability and measured rent growth.
Neighborhood-level crime data for this location is limited in the current release, so investors should benchmark the area against broader Marion and county trends when available. Framing safety at the neighborhood (not property) scale helps calibrate leasing assumptions and retention expectations without over-extrapolating from block-level anecdotes.
Regional employment access skews toward light industrial and distribution roles that can underpin workforce renter demand and reduce commute friction for residents. The following nearby employer illustrates the commuter shed relevant to the neighborhood.
- Airgas Store industrial gases distribution (30.0 miles)
Built in 1982, the asset is newer than much of the surrounding housing stock, which can be competitively positioned versus older neighborhood inventory while still benefiting from targeted modernization to enhance rentability. At the neighborhood level (not the property), renter concentration is elevated and occupancy trends in the high-80s suggest a durable, value-oriented renter base. According to CRE market data from WDSuite, the area reflects a high-cost ownership context relative to incomes, which typically sustains multifamily demand at attainable rent tiers.
Within a 3-mile radius, recent softness in population and households is expected to turn toward growth in the medium term, pointing to a larger tenant base and support for occupancy stability. Investors should balance these tailwinds against affordability pressure (high rent-to-income in neighborhood metrics) and below-median school ratings, using conservative renewal assumptions and amenity upgrades to manage retention.
- 1982 vintage offers relative competitiveness versus older stock with selective value-add upside
- Elevated neighborhood renter-occupied share supports depth of tenant demand
- Ownership costs relative to income reinforce reliance on rentals, aiding pricing power at attainable levels
- 3-mile forecasts indicate growth in households and incomes, supporting occupancy stability
- Risks: affordability pressure (high rent-to-income) and below-median school ratings warrant conservative leasing plans