| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 50th | Good |
| Amenities | 29th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 W Main St, Burnsville, NC, 28714, US |
| Region / Metro | Burnsville |
| Year of Construction | 1981 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
200 W Main St Burnsville Multifamily Investment
Neighborhood-level occupancy has been resilient, supporting steady renter demand in a small suburban market, according to WDSuite’s CRE market data. With a manageable 38 units, the asset size aligns with hands-on operations and targeted value-add execution.
The property sits in an A-rated neighborhood that is competitive among Yancey County’s metro-adjacent areas (ranked 2 out of 10 neighborhoods). Local fundamentals point to stable renter demand: the neighborhood’s occupancy trend is above metro median (ranked 1 of 10) and compares favorably to national norms (upper-third nationally), which can help underpin leasing stability through cycles.
Ownership costs appear relatively elevated for the area (value-to-income ratio in a higher national percentile), which typically sustains reliance on rental housing and supports tenant retention. At the same time, neighborhood-level contract rents benchmark on the lower side nationally, signaling room for thoughtful revenue management if renovations elevate unit quality without introducing undue affordability pressure. Renter concentration is also comparatively high (top quartile nationally and ranked 1 of 10 locally), indicating a deeper tenant base for multifamily operators.
Everyday needs are serviceable rather than lifestyle-driven: grocery access ranks near the top locally (ranked 1 of 10), with a moderate restaurant presence. Cafés, parks, and pharmacies are limited, so demand is driven more by essential convenience than amenity-rich walkability. For investors, this sets expectations around tenant profiles and supports a workforce-oriented positioning.
Built in 1981, the asset is newer than the neighborhood’s average vintage (late 1960s). That positioning can be competitively advantageous versus older stock, while still warranting capital planning for aging systems and selective value-add to modernize interiors and common areas. These upgrades can be prioritized using insights from multifamily property research and local rent comparisons to target the most accretive scopes.
Comparable neighborhood crime data was not available from WDSuite for this location. Investors typically benchmark safety using county and metro sources and assess multi-year trends rather than single-year snapshots to gauge trajectory and potential impacts on leasing and retention.
Regional employment is diversified, with industrial and distribution roles within commuting range that can support workforce renter demand. The following nearby employer reflects the types of jobs accessible from the neighborhood.
- Airgas Store — industrial gases and supplies (27.6 miles)
This 38-unit, 1981-vintage property benefits from a neighborhood with above-metro occupancy performance and a higher renter concentration, supporting a stable leasing base. Elevated ownership costs relative to incomes in the area reinforce reliance on rental housing, while neighborhood-level rents benchmark on the lower side nationally, creating practical room for revenue optimization tied to targeted upgrades. According to CRE market data from WDSuite, these dynamics compare favorably to broader national patterns for similar suburban markets.
Positioned newer than the neighborhood’s average vintage, the asset can compete well against older stock with a focused value-add plan and prudent capital reserves for aging systems. Amenity density is modest, so a serviceable, workforce-oriented strategy—emphasizing reliability, maintenance responsiveness, and functional finishes—may resonate with the local tenant base.
- Neighborhood occupancy trends above metro norms support leasing stability
- Renter concentration is strong locally, indicating depth of tenant demand
- 1981 vintage offers value-add and modernization potential versus older nearby stock
- Risks: modest amenity density and income levels require disciplined rent setting and focused scope