| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 26th | Poor |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 507 Everett St, Burlington, NC, 27215, US |
| Region / Metro | Burlington |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
507 Everett St Burlington, NC Multifamily Investment
Neighborhood occupancy is in the high‑80% range and renter demand is supported by a sizable renter-occupied base, according to WDSuite’s CRE market data, positioning this submarket for durable leasing performance.
Located in Burlington’s inner-suburb fabric (Neighborhood rating: B), the area ranks above the metro median (22 of 53 neighborhoods) and shows everyday convenience anchored by groceries and dining. Grocery access is competitive among Burlington neighborhoods (rank 7 of 53; top-quartile presence supported by a 79th national percentile), and restaurant density is similarly strong. Childcare availability is a relative strength (rank 2 of 53; high 80s nationally), supporting working households. In contrast, cafés, parks, and pharmacies are limited within the immediate neighborhood, which investors should factor into resident experience and retention strategies.
Multifamily positioning benefits from a meaningful renter-occupied share at the neighborhood level (near half of housing units), signaling a deep tenant base and steady leasing velocity. Neighborhood occupancy has been in the high‑80% range, which suggests reasonable stability but also scope to manage renewals and concessions thoughtfully if demand softens. Rent-to-income is comparatively manageable locally, which can aid retention, while a higher value-to-income ratio indicates a higher-cost ownership landscape relative to incomes—factors that typically sustain reliance on rental housing rather than dilute it.
The property’s 1979 vintage is slightly newer than the neighborhood’s average construction year (mid‑1970s). That positioning can offer an edge over older stock, while still leaving room for targeted renovations and systems modernization to drive rent premiums and reduce near-term capex volatility.
Demographic statistics aggregated within a 3‑mile radius indicate recent population and household growth with projections for additional increases through 2028. This points to a larger tenant base and continued renter pool expansion, which can support occupancy stability and measured rent growth over time. These dynamics, combined with neighborhood conveniences and regional commute options, create a practical backdrop for multifamily property research without relying on speculative assumptions.
Safety trends are competitive among Burlington neighborhoods, with the area sitting modestly above national averages (57th percentile) based on WDSuite’s validated crime benchmarking. Within the Burlington, NC metro, the neighborhood ranks in the better third (14th of 53), indicating comparatively lower reported crime than many peer areas.
Recent trendlines show meaningful year‑over‑year declines in both property and violent offenses, which, while not a guarantee, are constructive signals for resident perception and leasing stability. Investors should continue to monitor submarket trends and property‑level controls, as conditions can vary by block and cycle.
Proximity to life sciences, healthcare, and technology employers supports a broad workforce renter base and commute convenience for residents. The following nearby employers anchor demand within practical driving distance of the property:
- Laboratory Corp. of America — life sciences & diagnostics (0.6 miles) — HQ
- VF — apparel (20.7 miles) — HQ
- Cisco Systems — networking/technology (34.5 miles)
- Biogen Idec — biotechnology (35.3 miles)
- Quintiles Transnational Holdings — clinical research (36.1 miles) — HQ
507 Everett St is a 100‑unit, late‑1970s garden asset with average unit sizes around 750 square feet. The neighborhood sits above the metro median on overall positioning and shows practical strengths in groceries, restaurants, and childcare access. According to CRE market data from WDSuite, neighborhood occupancy is in the high‑80% range and the share of renter‑occupied housing is near half, together indicating a durable tenant base with manageable lease‑up and renewal risk under typical market conditions. A higher-cost ownership environment relative to local incomes tends to reinforce rental demand, while rent levels remain comparatively manageable from a rent‑to‑income standpoint—supporting retention.
The 1979 vintage is slightly newer than the local average stock, which can provide a competitive edge versus older properties. Strategic value‑add—targeted interior updates and building systems modernization—offers potential to improve rent positioning while mitigating near‑term capex surprises. Demographic statistics within a 3‑mile radius show recent growth and projected increases in population and households through 2028, pointing to renter pool expansion that can sustain occupancy and pricing power within market norms. Key watch‑items include amenity gaps (parks, cafés, pharmacies) and mid‑pack safety standing, which warrant proactive property management and resident‑service programming.
- High‑80s neighborhood occupancy and sizable renter base support leasing stability
- Ownership costs relative to income bolster reliance on multifamily; rent levels remain comparatively manageable
- 1979 vintage allows targeted value‑add and systems upgrades for competitive positioning
- 3‑mile radius shows recent and projected growth in population and households, expanding the tenant base
- Risks: limited nearby parks/cafés/pharmacies and mid‑pack safety suggest ongoing management focus