| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 47th | Good |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1550 Alabaster Way, Fayetteville, NC, 28314, US |
| Region / Metro | Fayetteville |
| Year of Construction | 2010 |
| Units | 26 |
| Transaction Date | 2009-02-24 |
| Transaction Price | $1,290,000 |
| Buyer | MIMG CCL PARCSTONE SUB LLC |
| Seller | BEL CANTO NPRC PARCSTONE LLC |
1550 Alabaster Way Fayetteville NC Multifamily Investment
Neighborhood occupancy has been steady with signs of resilience, supporting lease-up and retention, according to WDSuite’s CRE market data. Renter demand appears balanced for the submarket, with pricing positioned near the metro middle and room for disciplined asset management.
Built in 2010, the property is newer than much of the local stock (neighborhood average vintage skews late 1990s), which can enhance competitive positioning versus older assets while still leaving scope for targeted updates as building systems age. The neighborhood rates highly within the Fayetteville metro (top quartile among 162 metro neighborhoods), a signal of stable fundamentals for investors screening comparable multifamily assets.
Local livability is serviceable for day-to-day needs: grocery and pharmacy access rank competitively in the metro, and park access is also favorable, while cafe density is limited. Average school ratings track near national mid-range, which is typical for inner-suburb locations and suggests family-oriented demand without commanding top-tier rent premiums.
Rents in the neighborhood sit slightly above national mid-range and in the stronger half of the metro, while the rent-to-income ratio near 0.20 indicates manageable affordability pressure—supportive of resident retention and collections. Median home values are in a more accessible range for the region, which can create some competition from ownership alternatives; however, this context often sustains demand for well-managed rental options that offer convenience and professional maintenance, particularly for mobile or early-career households.
Demographic indicators within a 3-mile radius show recent population essentially flat with modest income growth, and forecasts point to smaller household sizes alongside an increase in total households. For multifamily investors, a shift toward more, smaller households can expand the renter pool and support occupancy stability, even if overall population growth is muted.
Relative to the Fayetteville metro, the neighborhood’s crime rank indicates higher-than-average reported incidents; however, it compares better than many neighborhoods nationwide. Recent trend data is constructive: both property and violent offense rates show notable year-over-year declines, suggesting improving conditions. As always, investors should underwrite with current, property-level security measures and consider trend persistence rather than a single-year snapshot.
This 26-unit, 2010-vintage asset benefits from neighborhood stability, competitive day-to-day amenities, and rent levels that align with a broad tenant base. Occupancy in the surrounding area has held in a healthy range with positive five-year momentum, and the renter-occupied share indicates a measurable, though not saturated, pool of multifamily demand. Based on CRE market data from WDSuite, local rents sit in the stronger half of the metro while remaining manageable against incomes, supporting lease retention and disciplined rent growth strategies.
Forward-looking demographics within a 3-mile radius indicate smaller household sizes and growth in total households, which can help sustain demand for professionally managed rental housing even if regional population trends soften. Given its newer construction relative to nearby stock, the property can compete effectively with limited near-term capex, while select interior and common-area enhancements may unlock value-add upside and bolster pricing power.
- 2010 vintage competes well versus older neighborhood stock; targeted updates can drive value-add upside.
- Neighborhood occupancy and rents show durable performance, supporting steady cash flow potential.
- 3-mile trends point to smaller households and a broader renter pool, aiding leasing stability.
- Amenity access (grocery, pharmacy, parks) is competitive for daily convenience, enhancing retention.
- Risks: comparatively accessible ownership options may compete with rentals; metro crime sits above average despite recent declines.