| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 35th | Fair |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 615 McLeod St, Elizabethtown, NC, 28337, US |
| Region / Metro | Elizabethtown |
| Year of Construction | 1984 |
| Units | 41 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
615 McLeod St Elizabethtown Multifamily Investment
Renter demand is supported by everyday amenities and a moderate renter-occupied share in the neighborhood, according to WDSuite’s CRE market data.
The property sits in a suburban pocket of Elizabethtown where daily-needs access is a relative strength. Neighborhood measures for grocery, parks, and pharmacies rank at the top among 26 metro neighborhoods and are above national averages by percentile, which helps day-to-day livability for residents and can aid leasing and retention.
Dining options track near national mid-range, while cafe and childcare densities are limited in this neighborhood. Investors should underwrite resident convenience around essentials rather than lifestyle retail, with marketing tailored to workforce renters.
The average construction year in the neighborhood is 1972. With a 1984 vintage, this asset is newer than the local stock, positioning it competitively versus older properties while still warranting capital plans for aging systems and targeted interior upgrades to capture value-add potential.
Neighborhood occupancy ranks below the metro median, suggesting leasing may require active management and thoughtful concessions at acquisition. At the same time, the renter-occupied share sits around two-fifths, indicating a tangible tenant base for multifamily; median home values are near the national middle, which implies ownership is not prohibitively high-cost and may create some competition with rentals. Underwriting should focus on unit mix, price positioning, and retention strategy to sustain occupancy.
Demographic indicators within a 3-mile radius point to steady everyday demand more than discretionary spending power. Rent-to-income metrics sit around the national middle, which suggests manageable affordability pressure and supports lease stability when paired with prudent renewal management.
Safety signals are mixed and should be contextualized carefully. Compared with peer neighborhoods in the metro, overall crime ranks near the high-crime end (2 of 26), so investors should plan for visible security practices and resident engagement. Nationally, the neighborhood performs stronger on violent offense measures, landing in a high percentile versus U.S. neighborhoods, which indicates comparatively favorable violent-crime conditions.
Recent trend data show divergent patterns: violent offenses have eased year over year, while property offenses have risen. For underwriting, focus on lighting, access control, and partnerships with local law enforcement, and calibrate insurance and operating reserves accordingly. These observations are neighborhood-level and not specific to the property.
This 41-unit, 1984-vintage asset offers a value-add and operational execution story in a suburban Elizabethtown location with strong daily-needs access but below-median neighborhood occupancy. The vintage is newer than the local average, giving the property competitive footing against older stock while leaving room for targeted renovations to enhance rentability and retention. Based on commercial real estate analysis and CRE market data from WDSuite, neighborhood renter concentration and mid-range ownership costs point to a durable—though competitive—tenant pool.
Positioning around workforce renters, disciplined expense control, and pragmatic amenity upgrades should help capture demand in a market where residents prioritize essentials over lifestyle retail. Risk management should address neighborhood-level crime differentials within the metro and recent property-crime trends, with corresponding security, insurance, and leasing strategy.
- Newer-than-neighborhood-average 1984 vintage supports competitive positioning with targeted value-add upside.
- Daily-needs access (grocery, parks, pharmacies) ranks among the strongest in the metro, aiding leasing and retention.
- Renter base around two-fifths of housing units provides depth for multifamily demand and renewal strategies.
- Ownership costs near the national middle suggest some competition with buying; pricing and unit finishes should be calibrated accordingly.
- Risks: below-metro-median neighborhood occupancy and recent property-crime uptick require proactive security, marketing, and asset management.