| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 61st | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3508 Garden Rd, Burlington, NC, 27215, US |
| Region / Metro | Burlington |
| Year of Construction | 1992 |
| Units | 119 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3508 Garden Rd, Burlington NC Multifamily Investment
Positioned in an inner-suburban pocket with strong renter concentration and solid amenity access, this asset benefits from durable demand drivers, according to WDSuite’s CRE market data.
The property sits in Burlington’s Inner Suburb, an A+–rated neighborhood (ranked 1 out of 53 in the metro) with a mix of retail, services, and commuter conveniences that support leasing stability. Neighborhood statistics indicate this refers to area-level conditions, not the property’s own performance.
Amenity access is a relative strength: neighborhood cafe density ranks 4th of 53 locally and is top quartile nationally (76th percentile), while restaurants are well represented (74th percentile nationally). Pharmacies and parks land above national medians, reinforcing daily-life convenience that helps with tenant retention. Grocery options are adequate by metro standards.
On the housing side, neighborhood rents sit modestly above national norms (median contract rent rank 4 of 53; 63rd percentile nationally), and nearly half of housing units are renter-occupied (49.8% renter concentration), indicating a sizable tenant base. The neighborhood occupancy rate is in the high 80s; while it has softened over five years, renter concentration suggests depth of demand for well-positioned multifamily. Elevated ownership costs relative to incomes (value-to-income ratio ranked 3rd of 53; 79th percentile nationally) generally sustain reliance on multifamily, supporting pricing power and lease retention when management is disciplined.
Within a 3-mile radius, WDSuite demographics show population up about one-fifth over five years, with households growing even faster and forecasts calling for continued population growth through 2028. This points to a larger tenant base and supports occupancy stability for professionally managed product. Average school ratings trend slightly above national medians (61st percentile), a neutral-to-positive factor for family renters. The neighborhood’s average construction year skews newer (2002), positioning a 1992 asset for value-add updates to remain competitive with local stock.
Neighborhood safety trends are mixed: overall safety benchmarks sit below national averages (national percentiles in the lower half), yet recent year-over-year estimates indicate declines in both property and violent offenses, according to CRE market data from WDSuite. This suggests conditions have been improving, though investors should continue to underwrite prudent security measures and tenant screening.
In metro context, the area tracks near the middle of Burlington neighborhoods, with improving momentum more notable in property offenses. Use conservative assumptions for operating practices and loss-to-lease while recognizing the positive direction of recent trend data.
Proximity to a diversified employer base in healthcare, apparel, and Research Triangle tech/biopharma supports renter demand and commute convenience for workforce households. The list below highlights nearby anchors most relevant to leasing and retention.
- Laboratory Corp. of America — healthcare diagnostics (4.3 miles) — HQ
- VF — apparel & footwear (16.5 miles) — HQ
- Cisco Systems — networking & enterprise tech (38.1 miles)
- Cisco Systems, Building 8 — networking & enterprise tech (38.6 miles)
- Biogen Idec — biopharma (38.9 miles)
This 119-unit asset built in 1992 is positioned in Burlington’s top-rated Inner Suburb with strong amenity coverage and a sizable renter base. Neighborhood rents track modestly above national norms while ownership remains relatively high-cost versus income, reinforcing reliance on multifamily. According to commercial real estate analysis from WDSuite, neighborhood occupancy is in the high 80s and renter concentration is near half of housing units, supporting depth of demand for well-managed communities.
Relative to the neighborhood’s newer average vintage (2002), the property’s 1992 construction suggests clear value-add potential through targeted renovations and systems modernization to stay competitive with local stock. Within a 3-mile radius, WDSuite demographics show notable population and household growth historically with continued expansion forecast, implying a larger tenant base over the medium term. Investors should balance these strengths against moderating neighborhood occupancy trends and below-average national safety percentiles when setting underwriting assumptions.
- Inner-suburban A+ location with strong amenity access and renter depth
- 1992 vintage presents value-add and modernization upside versus newer neighborhood stock
- Household and population growth within 3 miles expands the tenant base and supports occupancy stability
- Elevated ownership costs relative to income favor sustained multifamily demand and pricing power
- Risks: softer neighborhood occupancy trend and below-average national safety percentiles warrant conservative operations