| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 31st | Poor |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4041 William Bill Luther Dr, Hope Mills, NC, 28348, US |
| Region / Metro | Hope Mills |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2004-05-19 |
| Transaction Price | $174,000 |
| Buyer | STEELE KENNETH |
| Seller | HESTER LANNY |
4041 William Bill Luther Dr Hope Mills Multifamily Investment
Neighborhood occupancy trends are in the top quartile among 162 Fayetteville metro neighborhoods, supporting income stability for a 24-unit asset, according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of Hope Mills, the neighborhood is rated B and is competitive among Fayetteville neighborhoods (ranked 63 out of 162). Grocery, pharmacy, and dining access test above national norms, while parks and cafes are limited—an amenity mix that supports daily convenience but may constrain lifestyle appeal relative to denser urban nodes.
The local renter-occupied share of housing units is elevated (ranked high nationally), indicating a meaningful tenant base that can support multifamily demand and leasing durability. Neighborhood occupancy performance sits in the top quartile within the metro, a constructive signal for maintaining stabilized operations and reducing downtime between turns.
Within a 3-mile radius, population and household counts have grown in recent years, with additional gains expected over the next five years. Forecasts point to a larger household pool and gradually smaller average household sizes—both dynamics that expand the renter pool and can support occupancy stability and steady absorption for well-positioned properties.
Home values are comparatively accessible for the region, which can introduce some competition from ownership options; however, rent-to-income levels remain moderate, supporting lease retention and measured pricing power. Median asking rents in the neighborhood track near national mid-range levels, suggesting an affordability profile that can help sustain demand across economic cycles, based on commercial real estate analysis from WDSuite.
The asset’s 2003 construction is newer than the neighborhood’s older average vintage, which can enhance competitiveness versus legacy stock. Investors should still underwrite routine modernization and systems refresh over the hold to maintain positioning against newer deliveries in the broader metro.
Safety metrics compare favorably versus many peer areas. Overall crime performance is competitive among Fayetteville neighborhoods (ranked 58 out of 162), with violent offense rates in the top quartile nationally and showing recent improvement year over year. Property offense measures are closer to metro average and have shown recent volatility, warranting standard risk controls such as lighting, access management, and resident engagement.
These are neighborhood-level indicators intended to contextualize trend direction rather than block-specific conditions; investors should validate on-site with current reports and management feedback.
This 24-unit property, built in 2003, benefits from neighborhood occupancy performance in the top quartile of the Fayetteville metro and a renter-occupied housing base that supports sustained multifamily demand. Within a 3-mile radius, recent and forecast growth in population and households suggests a larger tenant base ahead, while moderate rent-to-income levels underpin retention and lease stability. According to CRE market data from WDSuite, the area’s daily-needs amenities outperform national averages for groceries, pharmacies, and restaurants, enhancing renter convenience.
Relative to older neighborhood stock, 2003 vintage provides a competitive edge, with potential to drive returns through targeted interior updates and operational execution. Investors should weigh limited park/cafe access, below-average school ratings, and some variability in property offense trends, but the demand backdrop and positioning versus legacy assets present a credible path to durable cash flow.
- Top-quartile neighborhood occupancy supports stabilized cash flows
- 3-mile radius growth expands the renter pool and supports absorption
- 2003 vintage competes well versus older local stock; scope for value-add
- Daily-needs amenities (grocery, pharmacy, dining) reinforce renter convenience
- Risks: limited parks/cafes, lower school ratings, and variable property offense trends