| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 48th | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 741 Western Ave, Nashville, NC, 27856, US |
| Region / Metro | Nashville |
| Year of Construction | 1972 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
741 Western Ave, Nashville NC Multifamily Opportunity
Positioned in an inner-suburb pocket of the Rocky Mount metro with steady renter demand and balanced tenure, this asset benefits from neighborhood occupancy that tracks close to metro norms, according to WDSuite’s CRE market data.
Neighborhood
Nashville’s inner-suburb setting offers daily-life convenience that supports leasing: grocery, restaurant, cafe, parks, and pharmacy access all register competitive among Rocky Mount neighborhoods (1–8 out of 68 ranks across amenity measures), with national amenity percentiles hovering around the mid-to-upper range. For investors, this translates into practical livability that helps with retention and reduces friction in marketing to working households.
Neighborhood occupancy is near the metro midpoint, signaling demand that is neither overheated nor soft. The local renter-occupied share is in the higher band for the metro, indicating a meaningful tenant base without overreliance on transient demand. Home values sit below many coastal markets, which tends to sustain rental demand by keeping multifamily a more accessible option relative to ownership, a point supported by commercial real estate analysis from WDSuite.
Schools average on the lower side for the metro (neighborhood metric, not property-specific), which may modestly temper family-driven demand; however, the area’s convenience and employment reach provide counterweights for workforce-oriented product. The neighborhood’s overall standing is competitive among Rocky Mount neighborhoods, reflecting balanced fundamentals rather than a single dominant strength.
Within a 3-mile radius, population has expanded in recent years with further growth projected alongside smaller average household sizes. For multifamily owners, that implies a gradually larger renter pool and support for occupancy stability, even as unit mix and finish level should be calibrated to value-conscious renters.
Safety
Compared with the Rocky Mount metro, the neighborhood’s crime ranking sits below the metro average (lower-ranked locally indicates more reported incidents). Nationally, overall indicators land around the mid-to-upper range of safety, with violent-offense measures benchmarking stronger than many neighborhoods nationwide. These figures are neighborhood-level, not property-specific.
Recent trends show a decline in estimated violent incidents year over year alongside an uptick in reported property incidents. Underwriting should reflect routine security and loss-prevention practices typical for workforce multifamily, with periodic review of the most current local data to track directionality.
Why Invest
Built in 1972, this 40-unit asset is older than the neighborhood’s average vintage, pointing to value-add potential through targeted renovations and systems upgrades. Neighborhood occupancy trends are steady and renter concentration is meaningful, supporting a durable tenant base and pricing aligned to value-oriented renters. According to CRE market data from WDSuite, local amenity access is competitive within the metro, which supports retention and day-to-day livability.
Within a 3-mile radius, population growth and a projected increase in households suggest gradual renter pool expansion. Ownership remains a higher-commitment alternative for many households in this market, which tends to reinforce reliance on multifamily housing; paired with manageable rent-to-income dynamics, this backdrop supports lease stability when combined with disciplined renewal strategies.
- 1972 vintage creates clear value-add paths via interior and systems modernization
- Competitive amenity access and inner-suburb location aid retention and leasing
- Steady neighborhood occupancy and meaningful renter base support demand durability
- Demographic growth within 3 miles points to a gradually expanding renter pool
- Risks: older systems imply capex planning; safety variability and lower school ratings may temper family-driven demand