| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 42nd | Good |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 934 W Warren St, Shelby, NC, 28150, US |
| Region / Metro | Shelby |
| Year of Construction | 1993 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
934 W Warren St, Shelby NC Multifamily Investment
Neighborhood renter-occupied share is substantial and supports day-to-day leasing, while occupancy trends are manageable according to WDSuite s CRE market data. Positioning focuses on steady renter demand with attention to pricing and retention.
This Inner Suburb location in Shelby shows balanced livability with daily conveniences nearby. Grocery and restaurant density rank competitive among Shelby neighborhoods (ranks 3 and 5 out of 45), translating to practical access that helps with resident retention. Caf e9 availability is also competitive (rank 4 of 45), while parks and pharmacies are sparse in the immediate neighborhood, which may reduce recreational and health-service convenience compared with stronger amenity clusters.
Renter demand signals are mixed. The neighborhood occupancy rate is below national norms (national percentile 25), so lease-up and renewals may require tighter revenue management and asset-level marketing. At the same time, the share of housing units that are renter-occupied is high for the area (national percentile 87), indicating a deep tenant base that can support absorption and ongoing leasing activity.
Construction year averages point to older local stock (average 1961), while the subject a0property a0was built in 1993. The newer vintage improves competitive positioning versus nearby legacy assets, though investors should still plan for selective modernization and systems upkeep typical of 1990s multifamily.
Within a 3-mile radius, population and household counts have edged higher in recent years, and WDSuite data point to further renter pool expansion over the next five years. This supports long-run demand, though lower average school ratings (national percentile 23) could modestly temper family-driven leasing compared with higher-rated school clusters in the metro.
Affordability dynamics are nuanced. Elevated home values relative to incomes (national percentile 96 on value-to-income) suggest a high-cost ownership market that can sustain reliance on multifamily housing. However, rent-to-income readings indicate some affordability pressure, calling for careful lease management and renewal strategies to protect retention and cash flow.
Safety indicators compare favorably at the national level. Overall crime sits in the top quartile nationally (crime national percentile 83), and violent offense metrics are similarly strong (national percentile 88). Year-over-year, both violent and property offenses have moved lower, reinforcing an improving trend consistent with broader regional patterns.
While safety can vary block to block, these neighborhood-level readings provide useful context for underwriting and resident retention planning. As always, investors should pair this with property-level history and on-the-ground observation.
Proximity to regional employers underpins renter demand by shortening commutes for a diverse workforce. Notable nearby employers include Duke Energy, Parker-Hannifin, AmerisourceBergen, Airgas, and Cisco Systems.
- Duke Energy electric utility (31.2 miles)
- Parker-Hannifin Tech Seal Div industrial manufacturing (31.6 miles)
- AmerisourceBergen Healthcare Consultants pharma distribution/consulting (36.8 miles)
- Airgas industrial gases (39.1 miles)
- Cisco Systems networking technology (40.0 miles)
Built in 1993 with 48 units, the property is newer than much of the surrounding housing stock and should compete well against older assets, while still benefiting from targeted modernization to enhance rentability. According to CRE market data from WDSuite, the neighborhood shows a large renter-occupied share and improving safety trends, supporting occupancy stability over the cycle even as local occupancy benchmarks trail national norms.
Within a 3-mile radius, recent growth in population and households and forecasts that point to a larger tenant base support long-run demand. Elevated ownership costs relative to incomes in the neighborhood reinforce reliance on rental housing, though rent-to-income readings call for disciplined renewal strategies to manage retention and pricing power.
- 1993 vintage offers competitive positioning versus older local stock with value-add potential through selective updates
- High renter-occupied share indicates a deep tenant base supporting absorption and renewals
- Neighborhood-level safety indicators compare favorably nationally with recent declines in offenses
- Ownership costs remain elevated locally, sustaining reliance on multifamily housing
- Risk: neighborhood occupancy sits below national norms; revenue management and resident retention are key