| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 62nd | Good |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1006 Hunterstone Dr, Leland, NC, 28451, US |
| Region / Metro | Leland |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2023-03-20 |
| Transaction Price | $549,000 |
| Buyer | DANIEL M BOS AND ELIZABETH J BOS REVOCABLE DE |
| Seller | J R HUNTLEY HOMES LLC |
1006 Hunterstone Dr, Leland NC Multifamily Investment
Neighborhood occupancy remains resilient and renter demand is supported by steady household growth, according to WDSuite’s CRE market data. This positions a 24-unit asset for stable leasing dynamics in an inner-suburban location.
The property sits in an inner-suburban neighborhood in Leland with an A neighborhood rating and a rank of 12 out of 161 metro neighborhoods, which is competitive among Myrtle Beach–Conway–North Myrtle Beach submarkets. Neighborhood occupancy is measured at 96% (neighborhood metric), placing it in the top quartile nationally and above the metro median, a constructive signal for near-term leasing stability.
Local convenience is adequate for daily needs: grocery access ranks 20 of 161 and restaurants 30 of 161, both above the metro median, while parks also score favorably. Childcare and pharmacy density are thinner in this immediate area, which may influence tenant profiles and service-driven retention planning. Average school ratings trend modestly above national midpoints, providing a balanced backdrop for a workforce- and family-oriented renter base.
Within a 3-mile radius, demographics point to a larger tenant base and ongoing renter pool expansion: population and households have grown significantly over the last five years and are forecast to continue increasing through 2028. Median household incomes are solid in this radius and rising, which, together with a neighborhood rent-to-income ratio near 22%, suggests manageable affordability pressure and supports lease retention strategies. Median home values in the neighborhood are elevated relative to many secondary markets; in practice, a high-cost ownership market tends to sustain multifamily demand and pricing power.
Renter concentration at the neighborhood level is measured as the share of housing units that are renter-occupied at roughly two-fifths, indicating a meaningful but not renter-dominant market. Combined with top-quartile neighborhood occupancy and strong 3-mile household growth, this supports a steady demand pipeline for well-maintained apartments and informs underwriting for renewal rates and turnover. These dynamics are consistent with observations from WDSuite’s multifamily property research.
Safety indicators show mixed but generally constructive signals. The neighborhood’s overall crime rank is 9 out of 161 metro neighborhoods, which is below the metro average on this metric; however, national comparisons place the area in the upper third for safety, indicating it performs better than many neighborhoods nationwide. Recent trend data show property offenses declining sharply year over year (strong improvement relative to the metro), while violent offenses ticked higher over the same period. Investors should monitor these trends over time rather than individual-year fluctuations.
As always, crime patterns vary by micro-location and shift over cycles; comparative framing at the neighborhood and metro levels is most useful for underwriting. The neighborhood’s national safety percentiles indicate above-average performance nationwide, but the metro-relative rank underscores the importance of ongoing risk management and tenant-experience measures.
Employment access is supported by nearby advanced manufacturing, which helps underpin steady renter demand and commute convenience for workforce tenants. The list below highlights a key employer within a practical drive of the property.
- Corning Optical Fiber Wilmington — advanced manufacturing (9.3 miles)
Built in 2005, this 24-unit asset benefits from durable neighborhood fundamentals: above-median metro ranking, top-quartile national occupancy at the neighborhood level, and a growing 3-mile tenant base. Construction vintage offers competitive positioning versus older stock in the submarket, while planning for routine modernization can enhance rentability over the hold period. Based on commercial real estate analysis from WDSuite, neighborhood rent-to-income and home value context point to sustained renter reliance on multifamily housing rather than ownership, supporting occupancy stability and measured pricing power.
Forward-looking demographics within 3 miles indicate continued population and household growth, which expands the prospective renter pool and supports lease-up and renewal velocity. While the neighborhood’s metro-relative safety rank warrants ongoing monitoring, recent declines in property offenses and strong employment access provide a balanced, risk-aware thesis.
- Top-quartile neighborhood occupancy and solid rent-to-income context support lease stability
- 2005 vintage offers competitive positioning versus older stock, with value in targeted modernization
- 3-mile radius shows strong past and forecast household growth, enlarging the tenant base
- Employment access to advanced manufacturing supports workforce demand and retention
- Risk: Metro-relative safety rank and thinner childcare/pharmacy amenities call for proactive property and tenant-experience management