| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 38th | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2280 N Fayetteville St, Asheboro, NC, 27203, US |
| Region / Metro | Asheboro |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2006-12-27 |
| Transaction Price | $4,223,000 |
| Buyer | ASHEBORO RESIDENTIAL LLC |
| Seller | BRANSON COLEMAN PROPERTIES LLC |
2280 N Fayetteville St Asheboro 24-Unit Multifamily
Neighborhood-level occupancy in the Greensboro–High Point metro reads strong and has been resilient relative to many nearby areas, supporting income stability for this asset, according to WDSuite’s CRE market data. Figures cited reflect the neighborhood, not the property.
Located in Asheboro’s inner-suburban fabric, the property sits in a neighborhood rated A- and ranked 58th of 245 within the Greensboro–High Point metro, indicating competitive positioning among local submarkets. Amenity access trends above national midpoints, with neighborhood-level counts for cafes, childcare, and groceries landing in the top quartile among 245 metro neighborhoods, while park access is limited—an operating consideration for resident lifestyle positioning.
Rent, occupancy, and renter base: Neighborhood occupancy is above the metro median (top-quartile rank locally), a constructive backdrop for lease-up and renewal management. Median contract rents remain below national levels but have grown meaningfully over the last five years, suggesting room for disciplined revenue management while maintaining a competitive value proposition. Renter-occupied housing represents a majority share in the neighborhood, signaling a deep tenant base and consistent multifamily demand.
Demographics within a 3-mile radius: Population has been roughly flat to slightly lower in recent years, yet the total number of households has edged higher, indicating smaller average household sizes and a broader renter pool. Forward-looking estimates point to continued growth in households and a step-down in household size, both of which generally support occupancy stability for well-positioned multifamily assets.
Home values and affordability: Local home values trend below national norms, which can introduce some competition from ownership alternatives. However, rent-to-income ratios are moderate at the neighborhood level, supporting retention and reducing turnover risk when paired with prudent lease management. The asset’s 2005 vintage is newer than the neighborhood average (early 1980s), offering relative competitiveness versus older stock while still warranting ongoing capital planning for mid-life systems and finishes.
Comparable crime metrics were not available in WDSuite for this neighborhood at the time of publication. Investors often benchmark neighborhood safety by reviewing city and county trend data alongside on-the-ground observations to contextualize leasing strategy and insurance assumptions.
Regional headquarters across apparel, diagnostics, banking, and consumer goods sit within commuting distance, supporting a diversified employment base and reinforcing renter demand from workers seeking convenience to major employers.
- VF — apparel HQ (24.6 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (30.6 miles) — HQ
- BB&T Corp. — banking HQ (33.5 miles) — HQ
- Reynolds American — consumer goods HQ (33.6 miles) — HQ
- Hanesbrands — apparel HQ (38.9 miles) — HQ
This 24-unit property built in 2005 stands newer than much of the surrounding housing stock, positioning it competitively for renter preferences while keeping attention on mid-life system maintenance and selective value-add. Neighborhood-level occupancy trends are strong, with rents still below national norms—conditions that support steady leasing and disciplined revenue management, based on commercial real estate analysis from WDSuite. Within a 3-mile radius, households have increased even as population has been roughly flat, and projections point to more households with smaller sizes, which typically expands the renter pool and supports retention.
Amenity access is solid for daily needs (groceries, childcare, cafes), though limited park access suggests tailoring the resident experience toward convenience and in-unit/community features. Local home values are lower than national averages, which may create some competition from ownership; however, moderate rent-to-income levels and a high share of renter-occupied units in the neighborhood underpin demand for well-managed multifamily assets.
- 2005 vintage offers relative competitiveness versus older neighborhood stock with targeted value-add potential
- Strong neighborhood occupancy and rent levels below national norms support stable leasing and retention
- 3-mile household growth and smaller household sizes indicate a broader tenant base over time
- Daily-needs amenities nearby (groceries, childcare, cafes) bolster convenience-driven appeal
- Risks: more accessible ownership options and limited park access may temper pricing power; focus on resident experience and lease management