| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 58th | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2040 Elvira St, Fayetteville, NC, 28303, US |
| Region / Metro | Fayetteville |
| Year of Construction | 2001 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2040 Elvira St Fayetteville Multifamily Investment
Newer 2001-vintage units in an inner-suburb location where neighborhood occupancy trends and renter concentration signal durable demand, according to WDSuite’s CRE market data. Expect competitive positioning versus older local stock, with operations focused on steady lease management rather than outsized rent growth.
This inner-suburb location offers day-to-day convenience with parks, pharmacies, and restaurants performing competitive among Fayetteville neighborhoods (measured against 162 neighborhoods), while cafes are sparser. Average school ratings in the neighborhood sit below national norms, which may influence family-driven leasing, though proximity to childcare options helps daily life for working households.
The property’s 2001 construction is newer than the neighborhood’s older housing base (average vintage 1960), supporting relative competitiveness versus legacy stock. Investors should still plan routine system updates and select modernization to maintain positioning against renovated comparables.
Neighborhood metrics point to measured stability: neighborhood occupancy is reported at 85.1% with limited recent change; treat this as a submarket context indicator rather than a property-level figure. Within a 3-mile radius, 53.2% of housing units are renter-occupied, indicating a deep tenant base for multifamily; median contract rents remain accessible for the market, and a rent-to-income ratio near 0.14 suggests manageable affordability pressure that can support retention and occupancy management.
Demographics within a 3-mile radius show recent population softness but a forward view that anticipates household growth and a smaller average household size, implying more households and a larger renter pool over the next five years. This supports leasing resilience and incremental absorption for well-managed, well-maintained assets.
Home values in the neighborhood track lower than national averages, which can make ownership more accessible relative to high-cost metros; for investors, this can introduce some competition with entry-level ownership. Even so, elevated convenience amenities and a sizable renter-occupied share help sustain the tenant pipeline and bolster lease retention for appropriately priced units.
Safety indicators for the neighborhood are below the national median (around the 33rd percentile nationally), and local rankings sit near the middle of the Fayetteville metro when compared with 162 neighborhoods. Recent data shows year-over-year upticks in both property and violent offense rates, so investors should underwrite professional on-site management, lighting, and community programming as part of risk mitigation.
As always, safety conditions can vary by block and over time. Use trend-based comparisons and recent comps, and incorporate operating practices that support resident comfort and retention.
The 2001-vintage, 48-unit property stands out against an older neighborhood housing base, providing competitive appeal with practical upgrade potential rather than heavy repositioning. Neighborhood occupancy sits in a moderate range and, combined with a 3-mile renter concentration above half of households, points to steady leasing fundamentals. Forecasts within a 3-mile radius indicate an increase in households and a smaller average household size, supporting renter pool expansion and occupancy stability. According to CRE market data from WDSuite, local rent levels and rent-to-income dynamics support retention-focused operations over aggressive rent push assumptions.
Key watch items include below-national-average school ratings, safety metrics that trail national medians, and ownership accessibility that can compete with rentals; these factors argue for attentive asset management, targeted upgrades, and disciplined pricing. With thoughtful capital planning and operations, the asset can leverage its newer vintage and location fundamentals to drive consistent cash flow.
- 2001 vintage competes well versus older neighborhood stock; plan selective modernization to sustain positioning.
- Neighborhood occupancy and a 3-mile renter-occupied share above half support depth of tenant demand.
- 3-mile forecasts indicate more households and a larger renter pool, aiding leasing stability over the next cycle.
- Ownership accessibility may compete with rentals; focus on amenities, service quality, and pricing discipline.
- Safety and school-rating headwinds remain; underwrite management, lighting, and resident programming to support retention.