| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 26th | Poor |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1410 Cleveland Ave, Burlington, NC, 27217, US |
| Region / Metro | Burlington |
| Year of Construction | 1993 |
| Units | 29 |
| Transaction Date | 2018-11-20 |
| Transaction Price | $1,450,000 |
| Buyer | STRATEGIC INVESTMENT PROPERTIES SUMMER P |
| Seller | JORDON RENTAL PROPERTIES LLC |
1410 Cleveland Ave Burlington NC Multifamily Opportunity
Renter concentration in the surrounding neighborhood supports a stable tenant base, while 1993 vintage offers competitive positioning versus older local stock, according to WDSuite’s CRE market data. Neighborhood occupancy trends and local incomes suggest measured rent growth potential with attention to retention.
Located in Burlington’s Inner Suburb (Neighborhood rating: B), the area around 1410 Cleveland Ave shows balanced renter demand with a high share of renter-occupied housing at the neighborhood level, supporting depth of the tenant base for a 29-unit asset. Neighborhood occupancy is moderate, indicating leasing stability but requiring active management to sustain performance versus metro peers.
Daily needs are well-covered by groceries and restaurants, both ranking competitive among Burlington neighborhoods (7 out of 53), while parks, pharmacies, and cafes are limited within the neighborhood. Childcare density ranks near the top of the metro (2 out of 53), which can bolster retention for workforce households. Average school ratings for the neighborhood are below national norms, so family-oriented leasing may depend more on proximity to specific campuses rather than broad district appeal.
Relative affordability is a key local dynamic. Neighborhood-level rent-to-income measures sit below national norms, which can reduce affordability pressure and aid lease management. At the same time, the value-to-income ratio ranks near the top of the Burlington metro (2 out of 53), signaling a higher-cost ownership market locally that tends to reinforce reliance on multifamily rentals, supporting renter demand depth.
The property’s 1993 construction is newer than the neighborhood’s average vintage (1974), offering a competitive edge versus older stock. Investors should still account for aging building systems and potential modernization to maintain competitiveness and capture value-add upside if finishes trail current renter expectations.
Safety indicators are mixed but trending in a favorable direction. The neighborhood’s crime standing is below the metro median (ranked 14 out of 53, where lower ranks indicate higher crime), yet recent year-over-year declines in both property and violent incidents indicate improvement momentum relative to regional peers and national trends. Nationally, the area sits closer to the middle of the pack on property-related safety and below the median for violent incidents, so underwriting should incorporate prudent assumptions for security and operational oversight.
For investors, the key takeaway is that recent improvements may support leasing and retention if sustained, but current levels still warrant practical measures such as lighting, access control, and resident engagement to manage risk.
Proximity to major employers underpins local renter demand, with a concentration in healthcare, life sciences, and technology roles that support steady leasing from commuting professionals. The list below highlights nearby anchors by distance.
- Laboratory Corp. of America — healthcare diagnostics (1.6 miles) — HQ
- VF — apparel (21.7 miles) — HQ
- Cisco Systems — networking (33.4 miles)
- Biogen Idec — biotechnology (34.2 miles)
- Quintiles Transnational Holdings — clinical research (35.0 miles) — HQ
This 29-unit, 1993-vintage property offers positioning advantages versus older neighborhood stock while tapping a renter base supported by a higher-cost ownership landscape and strong nearby employment anchors. Neighborhood occupancy is steady but not tight, indicating room for operational value through leasing discipline and resident retention. Based on CRE market data from WDSuite, local rent-to-income levels are comparatively manageable, suggesting potential for measured rent growth aligned with income trends.
Within a 3-mile radius, demographics indicate population and household growth with projections pointing to further increases, which can expand the tenant pool and support long-term occupancy stability. Amenity access favors daily-needs convenience (groceries, restaurants) even as limited parks and pharmacies require thoughtful resident programming to sustain retention. Safety indicators are improving but remain an operational focus area in underwriting.
- Competitive 1993 vintage versus older neighborhood stock, with potential modernization upside
- Renter demand supported by higher-cost ownership dynamics and balanced renter-occupied share
- Nearby anchors in healthcare, life sciences, and technology bolster leasing from commuters
- Demographic growth within 3 miles supports a larger tenant base and occupancy stability
- Risks: moderate neighborhood occupancy, limited parks/pharmacy options, and safety that still warrants proactive management