| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 42nd | Good |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1635 S DeKalb St, Shelby, NC, 28152, US |
| Region / Metro | Shelby |
| Year of Construction | 2003 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1635 S DeKalb St Shelby Multifamily Investment Opportunity
Neighborhood-level renter concentration sits near half of housing units, supporting a steady tenant base, according to WDSuite’s CRE market data. Location fundamentals and attainable rents point to durable demand with potential for disciplined value-add execution.
Shelby’s inner-suburban setting offers daily convenience with grocery and dining density competitive among 45 metro neighborhoods, while park and pharmacy access are limited. Neighborhood schools trend below national averages, which may influence tenant mix and retention strategies more than pricing power.
The property’s 2003 vintage is newer than the neighborhood’s mid-20th-century housing stock, giving it a competitive edge versus older assets; investors should still plan for selective system upgrades and common-area refreshes typical of early-2000s construction.
Neighborhood rent levels are lower relative to national benchmarks, and rent-to-income ratios skew on the low side, suggesting manageable affordability pressure and potential for measured rent growth tied to in-unit improvements and service quality. At the same time, neighborhood occupancy trends indicate only modest tightness, so leasing performance will benefit from thoughtful unit positioning and renewal management.
Within a 3-mile radius, recent population and household counts have edged higher, and forecasts point to meaningful gains through the medium term. This trajectory supports a larger tenant base and reinforces multifamily demand, even as household sizes shift and incomes diversify. Elevated ownership costs relative to local incomes in the neighborhood context can sustain reliance on rental housing, aiding lease retention.
In national context, the neighborhood benchmarks in the higher percentiles for safety, with property and violent offense measures comparing favorably to many U.S. neighborhoods. These comparative readings support day-to-day livability and can aid resident retention and leasing stability.
Recent year-over-year trends indicate reported offense rates have moved lower, suggesting improving conditions. As always, investors should underwrite with localized diligence and consider property-level security and lighting as part of operational best practices.
Regional employment drivers within commuting range include advanced manufacturing, utilities, healthcare distribution, industrial gases, and technology—supporting workforce housing demand and commute convenience for renters.
- Parker-Hannifin Tech Seal Div — manufacturing (30.1 miles)
- AmerisourceBergen Healthcare Consultants — healthcare distribution (36.3 miles)
- Airgas — industrial gases (38.5 miles)
- Cisco Systems — technology (39.6 miles)
- Duke Energy — utilities (40.1 miles) — HQ
This 120-unit, 2003-built asset competes well against older neighborhood stock while offering room for targeted value-add. Lower neighborhood rents and a relatively low rent-to-income profile point to manageable affordability pressure, while renter-occupied share near half of units signals a deep tenant base. According to CRE market data from WDSuite, location fundamentals are supported by everyday amenities and by ownership costs that remain high relative to local incomes, factors that can sustain reliance on multifamily housing.
Neighborhood occupancy trends are stable but not excessively tight, so execution will hinge on thoughtful upgrades, disciplined leasing, and renewal management. Forecasts within a 3-mile radius indicate meaningful population and household growth, expanding the renter pool over the medium term—balanced by modest school ratings and limited park/pharmacy access that investors should consider in marketing and resident programming.
- 2003 vintage competes favorably versus older local stock; plan selective system and common-area updates
- Lower neighborhood rents and low rent-to-income support measured rent growth via value-add
- Renter base supported by everyday amenities and high ownership costs relative to incomes
- 3-mile forecasts point to renter pool expansion, aiding lease-up and renewal performance
- Risks: occupancy not overly tight; below-average schools and limited parks/pharmacies may affect positioning