| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 47th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1528 S Mebane St, Burlington, NC, 27215, US |
| Region / Metro | Burlington |
| Year of Construction | 1989 |
| Units | 93 |
| Transaction Date | 2021-06-17 |
| Transaction Price | $12,480,000 |
| Buyer | QUAIL TERRACE LLC |
| Seller | GLENNWOOD APARTMENTS LLC |
1528 S Mebane St Burlington Multifamily Investment
Positioned in an inner-suburb pocket with competitive neighborhood occupancy, this asset benefits from a deep renter base and steady demand, according to WDSuite’s CRE market data. Expect stable leasing supported by commuting access and a practical cost profile relative to area incomes.
The property sits in Burlington’s Inner Suburb area, rated B+ and competitive among 53 Burlington neighborhoods. Neighborhood occupancy trends rank favorably versus local peers and land in the upper half nationally, signaling relatively steady lease-up dynamics and renewal potential for multifamily investors.
Amenities skew practical rather than lifestyle-heavy. Grocery access ranks in the top quartile among 53 metro neighborhoods, while parks and cafes are limited nearby. For investors, that mix supports day-to-day convenience but suggests fewer experiential amenities, which can modestly influence marketing and positioning strategies.
Tenure patterns point to strong renter demand: the neighborhood’s share of renter-occupied housing is high relative to Burlington and sits in a high national percentile, indicating depth in the tenant base and support for occupancy stability. Median contract rents remain attainable versus area incomes, which can aid retention, though continued rent increases should be balanced against affordability to protect renewal rates.
Demographic statistics are aggregated within a 3-mile radius. The area has posted modest population growth with households expanding at a quicker pace, implying smaller household sizes and a gradually widening renter pool. Forecasts point to continued population and household growth through 2028, which supports ongoing demand for rental units and consistent leasing velocity. School rating data for the immediate area are limited; investors typically underwrite based on specific attendance zones during due diligence.
Vintage context: the asset’s 1989 construction is newer than the neighborhood’s average vintage (early 1980s), offering a competitive stance versus older stock. Investors should still plan for systems modernization and selective upgrades to sustain curb appeal and operating efficiency.
Neighborhood safety indicators track around the metro middle but below national medians, based on comparative ranks and percentiles from WDSuite. Within the Burlington metro (53 neighborhoods), the area’s crime rank places it in the lower half, indicating relatively higher incident levels than some local peers. Nationally, violent and property offense measures sit below the median. Recent trend readings show year-over-year improvement, with property offenses easing and violent incidents edging down, suggesting gradual stabilization. As always, investors should pair metro-level benchmarks with property-level security measures and loss history in underwriting.
Proximity to healthcare, apparel, and tech/pharma employers supports a diversified renter base and commute convenience. The following nearby employers are most relevant to local leasing dynamics:
- Laboratory Corp. of America — diagnostics and lab services (1.2 miles) — HQ
- VF — apparel & lifestyle brands (19.8 miles) — HQ
- Cisco Systems — networking & enterprise tech (35.1 miles)
- Biogen Idec — biotechnology (35.9 miles)
- Quintiles Transnational Holdings — clinical research (36.7 miles) — HQ
This 93-unit asset benefits from a renter-heavy neighborhood, competitive occupancy versus Burlington peers, and access to major employment nodes. The 1989 vintage is newer than the local average, giving the property a relative edge over older stock while still offering scope for targeted upgrades to drive rent premiums and operating efficiency. According to CRE market data from WDSuite, neighborhood occupancy performs above the metro median and in the upper half nationally, reinforcing a case for stable collections and renewal potential.
Within a 3-mile radius, population has grown with households expanding faster than residents, indicating smaller household sizes and a broader tenant base over time. Home values remain comparatively attainable in the local context, which can temper rent spikes but supports steady absorption and retention when paired with disciplined lease management. Limited park and cafe density suggests focusing on convenience, value, and interior upgrade packages as key differentiators.
- Renter-heavy neighborhood supports depth of tenant demand and occupancy stability.
- 1989 construction offers a competitive position versus older stock with value-add upside through modernization.
- Competitive neighborhood occupancy and diversified employment access underpin leasing resilience.
- 3-mile demographic growth and household expansion point to a gradually widening renter pool.
- Risks: below-national safety benchmarks and limited lifestyle amenities may require sharper pricing, marketing, and security planning.