| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 43rd | Fair |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 136 Parsley Ln, Leland, NC, 28451, US |
| Region / Metro | Leland |
| Year of Construction | 2006 |
| Units | 24 |
| Transaction Date | 2022-06-16 |
| Transaction Price | $30,750,000 |
| Buyer | 114 PARSLEY LLC |
| Seller | VILLAGE OAKS OWNER LLC |
136 Parsley Ln Leland Multifamily Investment Opportunity
Neighborhood occupancy runs in the low-90s, pointing to steady renter demand, according to WDSuite’s CRE market data. Household growth in the surrounding area supports leasing durability for a 24‑unit asset in suburban Leland.
This Leland address sits in a suburban neighborhood rated B+ and ranked 43 out of 161 within the Myrtle Beach–Conway–North Myrtle Beach metro, indicating it is competitive among metro neighborhoods. For investors, that positioning generally aligns with balanced demand drivers and manageable competition.
Amenity access is mixed: grocery and restaurant density track above national averages (national percentiles roughly in the mid‑60s), and pharmacies and parks score even stronger (around the low‑80s and mid‑70s nationally). Cafés and childcare are sparse within the neighborhood, which may slightly temper walkable convenience relative to denser nodes. School ratings in this area trend below national midpoints (average around 2.0/5 locally), a consideration for family‑oriented tenant segments.
Neighborhood renter concentration is about one-quarter of housing units being renter‑occupied (rank 36 of 161, above the metro median), which suggests a moderate depth of the tenant base and supports demand for multifamily without excessive dependence on transient renters. The neighborhood’s occupancy rate ranks 29 of 161 locally, indicating above‑median stability and a backdrop conducive to consistent leasing.
Within a 3‑mile radius, population and households have expanded materially over the last five years, with additional gains forecast. This points to a larger tenant base and supports occupancy stability. Median contract rents in the neighborhood sit in the upper national mid‑range, while the rent‑to‑income ratio around 0.22 is relatively manageable (lower national percentile), which can aid retention. Elevated ownership costs relative to incomes (value‑to‑income ratio in the upper national third) further reinforce renter reliance on multifamily housing. These dynamics collectively frame a practical case for sustained demand, supported by WDSuite’s multifamily property research.
Comparable neighborhood‑level safety data are not available in WDSuite for this specific area, so investors should evaluate property‑level measures and broader municipal trends rather than drawing block‑level conclusions. As with any suburban location, underwriting can incorporate regional crime trend reviews, lighting and access controls, and tenant feedback to contextualize risk.
Proximity to industrial and corporate operations supports workforce housing demand and commute convenience, notably from advanced manufacturing.
- Corning Optical Fiber Wilmington — advanced manufacturing (7.9 miles)
Built in 2006, the property offers relatively modern vintage for the submarket and a path to maintain competitiveness with selective refreshes rather than heavy capital programs. Neighborhood metrics show above‑median occupancy within the metro and a moderate renter base, while a 3‑mile radius exhibits strong population and household growth that expands the tenant pool. Homeownership remains a higher‑cost path relative to incomes locally, which can sustain multifamily demand; simultaneously, rent levels appear manageable versus household earnings, supporting retention.
According to commercial real estate analysis from WDSuite, local amenity access is strongest for groceries, pharmacies, parks, and restaurants, complementing suburban living patterns. Potential headwinds include below‑average school ratings and lighter café/childcare density, which should be reflected in leasing strategy and amenity programming rather than the core demand thesis.
- 2006 construction supports competitive positioning with targeted modernization rather than full repositioning
- Above‑median neighborhood occupancy and moderate renter concentration backstop leasing stability
- 3‑mile population and household growth expand the tenant base and support absorption
- Ownership costs relative to income reinforce reliance on rentals while rent‑to‑income appears manageable for retention
- Risks: below‑average school ratings and limited café/childcare density may narrow certain demand segments