| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 44th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 221 Stonebriar Cir, Spring Lake, NC, 28390, US |
| Region / Metro | Spring Lake |
| Year of Construction | 2010 |
| Units | 24 |
| Transaction Date | 2021-04-12 |
| Transaction Price | $27,500,000 |
| Buyer | STONE GATE NC APARTMENTS LLC |
| Seller | SEGY LLC |
221 Stonebriar Cir Spring Lake 2010 Multifamily Investment
Newer construction relative to the area positions this 24‑unit asset to compete against older stock while tapping into a neighborhood with high renter concentration, according to WDSuite’s CRE market data. The core takeaway for investors is durable renter demand at the neighborhood level, with pricing calibrated to local incomes rather than top-of-market growth.
Competitive among Fayetteville neighborhoods (ranked 32 of 162), the area around 221 Stonebriar Cir benefits from everyday convenience—restaurants, cafes, childcare, and grocery options track above many peer locations nationally. These amenities support leasing velocity and day‑to‑day livability without relying on destination retail.
The neighborhood’s housing stock skews older on average (1970), while this property was built in 2010. That age spread typically helps newer assets win on curb appeal, systems efficiency, and unit finishes, though investors should still budget for periodic modernization over the hold to maintain a competitive edge versus renovated legacy product.
Neighborhood tenure data indicates a high share of housing units are renter‑occupied (about 62% renter concentration). For multifamily owners, that depth of the tenant base supports ongoing demand and reduces the need to pull tenants from primarily owner‑occupied submarkets. At the same time, neighborhood occupancy (housing units in use) sits below many U.S. areas, so asset‑level operations and property management will be key to outperform local averages.
Within a 3‑mile radius, demographics show modest recent population growth with a larger share of adults in prime renting ages and a projected increase in total households over the next five years. Even with a slight population dip forecast, more households imply a broader renter pool and supports occupancy stability for well‑positioned assets. Median home values in the neighborhood are relatively low in a national context, which can introduce some competition from entry‑level ownership; investors should emphasize product differentiation, service, and convenience to sustain retention rather than relying solely on price.
Average school ratings in the neighborhood trail national norms, which can be a leasing headwind for family renters. Operators targeting singles, couples, and workforce households may experience less exposure to school‑quality sensitivity, but it remains a consideration for marketing mix and renewal risk.
Comparable metro crime rankings for this neighborhood are not available in WDSuite at this time. Investors typically benchmark safety by comparing submarket‑level trends to metro and national references and by reviewing recent leasing performance, renewal rates, and resident feedback rather than relying on block‑level anecdotes.
A prudent approach is to incorporate third‑party reports and property‑level incident history during diligence, then align security measures and lighting with resident expectations for similar Fayetteville‑area neighborhoods.
Regional employers provide a broader base of jobs that can support renter demand, though the nearest identified corporate offices are farther from Spring Lake and more relevant for commuting renters with regional travel patterns: Erie Insurance Group and MetLife Auto & Home.
- Erie Insurance Group — insurance services (40.3 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (41.9 miles)
Built in 2010, this 24‑unit property competes favorably against an older neighborhood inventory and is positioned to capture steady demand from a large renter base. Amenity access is strong relative to many peer areas, which supports day‑to‑day livability and leasing. According to CRE market data from WDSuite, the neighborhood shows high renter concentration and service‑oriented conveniences, suggesting a durable tenant pipeline for well‑managed assets even as local occupancy trends require hands‑on operations.
Forward‑looking 3‑mile demographics point to more households despite a slight population contraction, indicating smaller household sizes and potential renter pool expansion. While relatively low home values may create some competition from entry‑level ownership and school ratings trail national norms, a value‑forward, professionally managed property with modern finishes can maintain pricing power through differentiation, convenience, and resident service.
- 2010 vintage vs. older neighborhood stock supports competitive positioning and lower near‑term CapEx needs.
- High renter concentration at the neighborhood level underpins depth of tenant demand and renewal potential.
- Amenity access (food, cafes, childcare, groceries) supports leasing velocity and resident retention.
- 3‑mile outlook shows household growth even as population slips, reinforcing the renter pool for well‑run assets.
- Key risks: below‑average school ratings, pockets of softer neighborhood occupancy, and potential competition from entry‑level ownership options.