| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 32nd | Poor |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 Burnette Rd, Louisburg, NC, 27549, US |
| Region / Metro | Louisburg |
| Year of Construction | 1987 |
| Units | 37 |
| Transaction Date | 2023-03-21 |
| Transaction Price | $230,000 |
| Buyer | STOKES ADAM |
| Seller | STONEPOINT PROPERTIES LLC |
360 Burnette Rd, Louisburg NC Multifamily Investment
Neighborhood occupancy trends sit above the national median and a solid renter-occupied base supports leasing durability, according to WDSuite s CRE market data.
Located in a rural pocket of the Raleigh Cary metro, the area around 360 Burnette Rd offers a quieter setting with modest day-to-day services; grocery and pharmacy access is present, while cafes, parks, and childcare options are sparse. School ratings in the neighborhood trail metro and national benchmarks, which may matter for family-oriented demand. These are neighborhood-level dynamics, not property traits.
From an investment standpoint, neighborhood occupancy is in the upper half nationally (69th percentile), and the share of housing units that are renter-occupied ranks stronger than many areas nationwide (72nd percentile). Together, these indicators point to a stable tenant base and support for sustained occupancy at the neighborhood level, based on CRE market data from WDSuite.
Home values in the neighborhood are comparatively low versus national norms. In practice, a lower-cost ownership market can introduce some competition with entry-level ownership, yet the neighborhood s rent-to-income profile sits favorably (high national percentile), which can support lease retention and measured pricing power for multifamily operators.
The property s 1987 vintage is slightly older than the neighborhood average construction year (1990). Investors should plan for targeted capital projects and potential value-add improvements that can sharpen competitive positioning against newer stock. Within a 3-mile radius, population and household counts have grown and are projected to expand further by 2028, indicating a growing renter pool and deeper demand for rental units in the local catchment, per WDSuite s commercial real estate analysis.
Neighborhood-level crime metrics are not available in the current WDSuite dataset for this location. Investors typically benchmark safety by comparing neighborhood trends to metro averages and by evaluating property-level security measures, local management practices, and recent area development activity.
Regional employment anchors in the Raleigh Durham corridor support workforce housing demand for Louisburg, with sizable corporate offices within commuting distance. The nearby employer base includes insurance, life sciences, distribution, and training facilities noted below.
- MetLife insurance offices (33.1 miles)
- Quintiles Transnational Holdings life sciences CRO (33.4 miles) HQ
- Amerisource Bergen pharmaceutical distribution offices (33.6 miles)
- John Deere Morrisville Training Center training center (34.0 miles)
- MetLife Auto & Home Craig Conley LUTCF insurance services (35.3 miles)
This 37-unit asset s submarket fundamentals indicate steady renter demand. Neighborhood occupancy trends sit above the national median, and the renter-occupied share is comparatively strong versus many U.S. neighborhoods, supporting depth of the tenant base and leasing stability. The 1987 construction year suggests room for selective upgrades and operational improvements to enhance competitiveness against newer stock. Within a 3-mile radius, population and households have expanded and are projected to grow further, pointing to renter pool expansion and support for long-term absorption; according to CRE market data from WDSuite, rents remain relatively manageable versus incomes, reinforcing retention prospects.
Balanced against these positives, the area s limited amenity mix and below-average school ratings can influence family-oriented leasing, and comparatively low home values may create some competition from ownership options. Underwriting that plans for targeted capital investment and disciplined rent management can help mitigate these factors.
- Neighborhood occupancy above national median supports stability
- Renter-occupied share competitive nationally indicates tenant base depth
- 1987 vintage offers value-add and capital planning opportunities
- 3-mile radius shows population and household growth, reinforcing demand
- Risks: thin amenity set, lower school ratings, and potential competition from ownership