| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 47th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 131 Salvet St, Burlington, NC, 27215, US |
| Region / Metro | Burlington |
| Year of Construction | 2013 |
| Units | 20 |
| Transaction Date | 2011-09-01 |
| Transaction Price | $368,000 |
| Buyer | OAK POINTE PROPERTY LLC |
| Seller | OAK POINTE APARTMENTS LLC |
131 Salvet St Burlington Multifamily Investment
Renter concentration in the neighborhood and steady occupancy suggest durable cash flow potential, according to WDSuite’s CRE market data. The asset’s 2013 vintage positions it competitively versus older local stock while still allowing room for targeted upgrades.
Located in Burlington’s inner suburb, the neighborhood rates B+ and sits 17th among 53 metro neighborhoods, indicating it is competitive within the Burlington, NC market rather than an outlier at either extreme. The neighborhood occupancy rate is measured at the neighborhood level and has trended upward in recent years, landing above the national median and competitive among Burlington neighborhoods. A high share of renter-occupied housing units in the neighborhood (57.6%) points to a deep tenant base that supports leasing velocity and renewal potential.
Amenity access is mixed: grocery options are comparatively convenient within the metro (ranked 11th of 53), and restaurants are reasonably accessible (16th of 53), while cafes, parks, and pharmacies are limited within the immediate neighborhood. Childcare access stands out near the top of the metro (1st of 53), supporting family-oriented renter demand.
Home values in the neighborhood are lower than many areas nationwide, and the rent-to-income ratio sits below the national median. For investors, this combination can sustain rental demand and retention by keeping affordability pressure manageable, though relatively accessible homeownership may introduce competition that tempers pricing power. These figures refer to the neighborhood, not the property.
Within a 3-mile radius, population and households have grown over the past five years, with additional growth projected, which generally supports a larger renter pool and occupancy stability. Educational attainment is solid for the metro, with the neighborhood’s bachelor’s degree share landing in the top quartile nationally, which can underpin steady demand for quality rentals. According to CRE market data from WDSuite, the average construction year in the neighborhood is older, and a 2013-vintage asset can compete well against this backdrop while investors plan for normal system updates over time.
Safety indicators sit roughly around the Burlington metro middle, with the neighborhood ranked 22nd out of 53 for crime, and below the national median on safety (national percentile in the mid-40s). Rates for violent offenses are also below the national median. These metrics are neighborhood-level, not property-specific.
Year over year, estimated property offense rates have improved locally, with declines outpacing national averages. For investors, the directional improvement supports stability narratives, but underwriting should still reflect that safety performance trails higher-ranked Burlington subareas.
Proximity to healthcare, apparel headquarters, and technology employers supports renter demand through a diverse white-collar employment base and manageable commutes. The following nearby anchors can contribute to leasing stability and retention:
- Laboratory Corp. of America — diagnostics (1.9 miles) — HQ
- VF — apparel (19.6 miles) — HQ
- Cisco Systems — networking technology (35.2 miles)
- Cisco Systems, Building 8 — networking technology (35.6 miles)
- Biogen Idec — biotech (36.0 miles)
This 20-unit, 2013-vintage asset benefits from neighborhood-level renter concentration and occupancy that trends above the national median, supporting income durability and leasing efficiency. The newer construction relative to the neighborhood average positions the property competitively against older stock, while still allowing select value-add or modernization to refresh finishes and common areas. According to CRE market data from WDSuite, lower neighborhood home values and a below-median rent-to-income ratio reinforce rental demand and lease retention, though they also imply some competition from ownership that should be reflected in pricing strategy.
Within a 3-mile radius, recent and projected increases in population and households point to a larger tenant base over time, which can support occupancy stability and consistent absorption. Amenity access is practical for daily needs (notably grocery), and the childcare footprint stands out locally, enhancing appeal for a range of renter profiles. Underwriting should remain mindful of neighborhood safety metrics that trail national medians and of amenity gaps (parks, pharmacies, cafes) that may limit premium positioning.
- 2013 construction competes well versus older neighborhood stock with targeted value-add potential
- Neighborhood-level occupancy above the national median supports income stability
- Renter-occupied concentration and growing 3-mile household counts deepen the tenant base
- Daily-needs access (grocery, childcare) aids retention and broadens renter appeal
- Risks: mid-pack safety metrics and accessible ownership options may temper pricing power