| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 53rd | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 Florence St, Graham, NC, 27253, US |
| Region / Metro | Graham |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2013-06-04 |
| Transaction Price | $810,000 |
| Buyer | FLORENCE RIDGE APARTMENTS LLC |
| Seller | UPSTREAM INVESTMENTS LLC |
115 Florence St Graham NC 24-Unit Multifamily Opportunity
Neighborhood occupancy is competitive within the Burlington, NC metro and renter-occupied housing is above the metro median, pointing to stable tenant demand, according to WDSuite’s CRE market data. This asset’s scale supports operational efficiency while tapping steady workforce housing needs.
Located in an Inner Suburb setting of the Burlington, NC metro, the neighborhood posts an A- rating with occupancy that is competitive among Burlington neighborhoods (ranked 18th of 53). Renter-occupied housing accounts for a higher share than the metro median (ranked 12th of 53), reinforcing depth of tenant demand for small-to-midscale multifamily.
Amenity access is mixed: grocery and pharmacy density are strong compared with U.S. neighborhoods (national percentiles in the upper 70s to mid-80s), supporting daily convenience and lease retention. By contrast, parks, cafes, and childcare options are thinner locally, which may modestly influence lifestyle appeal for some renters.
Within a 3-mile radius, population and households have expanded over the past five years, with households up by roughly double digits and further growth projected through 2028. This points to a larger tenant base and supports occupancy stability for value-oriented apartments. Median contract rents in the neighborhood sit near the middle of national distributions while rent-to-income levels indicate manageable affordability pressure, aiding retention and steady lease performance.
Home values in the area are moderate relative to national norms. In practical terms for investors, a more accessible ownership market can introduce some competition with entry-level single-family options, yet the area’s renter concentration and household growth support continued reliance on multifamily for convenience and flexibility.
Safety indicators compare favorably versus many U.S. neighborhoods, with the area landing in high national percentiles for lower estimated violent and property offense rates. Recent year-over-year trends show notable declines in both categories, suggesting improving conditions that can support resident retention and leasing stability over time.
As with any submarket, conditions vary by micro-location and over time; investors should pair these metro-relative and national comparisons with on-the-ground diligence and current police and community reports for a complete view.
Proximity to regional employers underpins a steady renter base, with commute access to healthcare diagnostics, apparel, networking technology, biotechnology, and clinical research organizations that can aid leasing and retention: Laboratory Corp. of America, VF, Cisco Systems, Biogen Idec, and Quintiles Transnational Holdings.
- Laboratory Corp. of America — healthcare diagnostics (3.6 miles) — HQ
- VF — apparel (22.8 miles) — HQ
- Cisco Systems — networking technology (31.9 miles)
- Biogen Idec — biotechnology (32.7 miles)
- Quintiles Transnational Holdings — clinical research (33.5 miles) — HQ
This 24-unit asset offers exposure to a neighborhood with competitive occupancy and a renter share above the metro median, supporting consistent tenant demand. Daily-needs retail access is strong, and 3-mile household growth—paired with moderate rent levels—supports leasing durability and stable operations, based on CRE market data from WDSuite.
Amenities like parks and cafes are limited locally, which may cap lifestyle appeal, but proximity to a diversified employment base across healthcare, technology, and life sciences helps sustain workforce housing demand. The property’s compact average unit size can align with cost-conscious renters, though it concentrates the renter profile toward efficiency-oriented households.
- Competitive neighborhood occupancy and above-median renter concentration support demand depth
- 3-mile population and household growth expand the local renter pool and support lease-up/retention
- Strong access to daily needs (grocery/pharmacy) aids convenience and resident stickiness
- Diversified nearby employers in healthcare, tech, and life sciences reinforce steady workforce housing demand
- Risks: limited parks/cafes and smaller average unit sizes may narrow the tenant profile and lifestyle appeal