| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 24th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1113 Buffalo St, Shelby, NC, 28150, US |
| Region / Metro | Shelby |
| Year of Construction | 1991 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1113 Buffalo St, Shelby NC Multifamily Opportunity
Neighborhood data points to a high renter-occupied share and accessible rents that support a broad tenant base, according to WDSuite’s CRE market data. Proximity to daily amenities further underpins leasing fundamentals without relying on top-of-market pricing.
Situated in an Inner Suburb of Shelby with an A- neighborhood rating and a rank of 8 among 45 metro neighborhoods, this location combines day-to-day convenience with steady renter demand. The property’s 1991 vintage is newer than the neighborhood’s average construction year, which can be competitively positioned versus older stock while planning for modernization of aging systems as part of capital management.
Amenity access is a relative strength: parks and pharmacies rank 1st out of 45 neighborhoods in the metro, with groceries and cafes ranking 6th and 3rd, respectively. This concentration of essentials supports resident retention and reduces friction for workforce tenants. Childcare options are sparse in the immediate area, which may require some households to commute for services.
Renter-occupied share in the neighborhood is elevated (ranked 1st of 45), indicating a deep pool of households that rely on multifamily housing for proximity and flexibility. Median contract rents are positioned below national norms and paired with a moderate rent-to-income profile, which can temper affordability pressure and aid lease management.
Within a 3-mile radius, demographics show a stable population and a recent increase in households, with forecasts pointing to notable population and household growth over the next five years. This expansion implies a larger tenant base and potential support for occupancy stability and measured rent growth. Elevated home values relative to local incomes (high value-to-income standing nationally) suggest ownership can be a high-cost path for many households, reinforcing reliance on rental options and aiding pricing power at attainable rent levels based on commercial real estate analysis from WDSuite.
Safety signals are mixed when comparing national and metro views. Nationally, the neighborhood scores in a higher safety percentile, indicating comparatively favorable conditions versus many areas across the country. Within the Shelby metro, however, a lower crime rank (7 out of 45 neighborhoods, where a low rank indicates higher crime) suggests safety is not a top-tier strength locally.
Recent trend indicators show year-over-year declines in both property and violent offense rates, pointing to incremental improvement. Investors should underwrite with conservative assumptions and consider measures that enhance on-site security and resident experience, while recognizing that the national comparison is more favorable than the intra-metro rank.
Access to major employers across utilities, manufacturing, distribution, and technology supports workforce housing demand and commute convenience for residents. The list below highlights nearby anchors that underpin regional employment and leasing stability.
- Duke Energy — utilities (29.0 miles)
- Parker-Hannifin Tech Seal Div — manufacturing (33.5 miles)
- AmerisourceBergen Healthcare Consultants — healthcare distribution (35.0 miles)
- Airgas — industrial gases (37.3 miles)
- Cisco Systems — technology (38.1 miles)
This 38-unit, 1991-vintage asset offers exposure to a renter-oriented neighborhood where attainable rents and daily-need amenities can support leasing durability. The property is newer than the area’s average building stock, providing competitive positioning versus older assets while leaving room for targeted capital projects to modernize systems and finishes. According to CRE market data from WDSuite, neighborhood renter-occupied share is elevated and amenity access is strong, both of which are supportive for multifamily demand.
Within a 3-mile radius, household counts have been rising and are projected to expand further over the next five years, indicating a larger tenant base and potential support for occupancy stability and measured rent growth. Elevated ownership costs relative to local incomes favor rental housing, while a moderate rent-to-income profile suggests manageable affordability pressure that can aid tenant retention. Underwriting should account for mixed safety signals within the metro and limited nearby childcare.
- Renter-oriented neighborhood with below-national rent levels supporting a broad tenant base
- 1991 vintage offers a relative edge over older stock with value-add modernization potential
- Strong day-to-day amenities (parks, pharmacies, groceries) bolster resident retention
- 3-mile forecasts indicate expanding population and households, supporting occupancy and pricing
- Risks: intra-metro safety rank, limited childcare, and the need to budget for system updates in a 1991 asset