| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 53rd | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 Albany St, Graham, NC, 27253, US |
| Region / Metro | Graham |
| Year of Construction | 1983 |
| Units | 49 |
| Transaction Date | 2016-07-26 |
| Transaction Price | $1,825,000 |
| Buyer | ALBANY FOREST APTS LLC A NORTH CAROLINA |
| Seller | THE M JEANINE FAULKNER REVOCABLE TRUST E |
120 Albany St, Graham NC — 49-Unit Multifamily Investment
Neighborhood metrics point to steady renter demand and above-median occupancy for the area, according to CRE market data from WDSuite. With a 1983 vintage relative to an older local stock, the asset is positioned for competitive leasing while leaving room for targeted upgrades.
Livability supports workforce-oriented housing: grocery and pharmacy access are strengths here, with the neighborhood ranking 2nd and 3rd out of 53 Burlington metro neighborhoods, respectively. Restaurants are present (13th of 53), while cafes, parks, and childcare are sparse, suggesting daily needs are well covered but discretionary amenities are limited nearby.
From an investment standpoint, the neighborhood s occupancy is competitive among Burlington neighborhoods (ranked 18th of 53, i.e., above the metro median), which supports leasing stability. Renter-occupied share of housing units is also competitive locally (12th of 53) and sits in a higher national percentile, indicating a deeper tenant base for multifamily assets.
Demographic statistics are aggregated within a 3-mile radius: population and households have grown in recent years, and projections point to additional household expansion alongside slightly smaller average household sizes. This pattern typically broadens the renter pool and supports sustained occupancy and lease retention for professionally managed properties.
Homeownership remains a meaningful option in this inner suburb, yet elevated ownership costs relative to local incomes in parts of the metro have supported steady rental demand. A neighborhood rent-to-income ratio near the mid-teens suggests manageable affordability pressure that can aid retention while leaving some room for revenue management.
The property s 1983 construction is newer than the neighborhood s average vintage (1973). That positioning can provide a competitive edge versus older stock, though investors should still budget for aging systems and selective modernization to meet current renter expectations.
Safety trends require balanced context. Within the Burlington metro, this neighborhood s crime rank is 1st out of 53, indicating higher incident levels relative to nearby neighborhoods. At the national scale, however, the neighborhood sits in a higher safety percentile, placing it closer to the safer end of neighborhoods nationwide. Year over year, both violent and property offense estimates have declined materially, a favorable directional signal for operators.
For underwriting, prioritize standard risk management: emphasize lighting and access controls, maintain resident engagement, and coordinate with local resources. Comparative framing metro versus national is important when assessing leasing, renewal strategies, and insurance assumptions.
Nearby employers span healthcare, apparel, and technology, supporting a diversified workforce renter base and commute convenience for residents. The list below highlights notable anchors within a commutable radius that can underpin leasing and retention.
- Laboratory Corp. of America healthcare & diagnostics (2.0 miles) HQ
- VF apparel & retail corporate (21.8 miles) HQ
- Cisco Systems technology offices (33.1 miles)
- Biogen Idec biotechnology offices (33.9 miles)
- Quintiles Transnational Holdings life sciences services (34.7 miles) HQ
120 Albany St offers a 49-unit footprint in an inner-suburban location with demonstrated renter depth and above-median neighborhood occupancy within the Burlington metro. The 1983 vintage is newer than the local average, supporting competitive positioning versus older comparables, while also presenting practical opportunities for selective value-add and systems upgrades. According to CRE market data from WDSuite, neighborhood-level rents and a mid-teens rent-to-income profile point to manageable affordability pressure that can aid retention without overextending tenants.
Within a 3-mile radius, recent population and household growth, alongside projections for further household expansion and slightly smaller household sizes, imply a larger tenant base over time. Strong access to daily-needs amenities (notably grocery and pharmacy) and proximity to diversified employers support leasing stability, though limited lifestyle amenities and metro-relative safety outliers argue for disciplined operations and resident experience investments.
- Above-median neighborhood occupancy and solid renter concentration support demand durability.
- 1983 construction offers competitive positioning versus older stock, with targeted upgrade potential.
- 3-mile radius shows population and household growth, expanding the renter pool and aiding lease retention.
- Daily-needs access (grocery/pharmacy) and proximity to anchor employers bolster leasing and renewals.
- Risk: metro-relative safety rank and limited lifestyle amenities call for proactive management and capex planning.