| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 71st | Best |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 125 Waterlynn Rd, Mooresville, NC, 28117, US |
| Region / Metro | Mooresville |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2024-08-14 |
| Transaction Price | $55,000,000 |
| Buyer | IP4 LAKE NORMAN LLC |
| Seller | 118PC APTS LLC |
125 Waterlynn Rd Mooresville Multifamily Investment
2013-vintage, 24-unit asset positioned in an inner-suburban node with a sizable renter-occupied housing base that supports steady tenant demand. Neighborhood-level occupancy trends and demographics point to durable leasing fundamentals, according to CRE market data from WDSuite.
Located in Mooresville’s inner suburbs of the Charlotte metro, the property benefits from a renter-occupied housing share measured at the neighborhood level of roughly half of units (46.8%). For investors, that renter concentration indicates depth in the tenant base and supports leasing consistency, even as local occupancy is below the national median.
Within a 3-mile radius, population and household counts have expanded meaningfully over the past five years and are projected to continue growing, implying a larger renter pool over the medium term. Median contract rents in this radius have risen alongside incomes, which, paired with a rent-to-income level measured at the neighborhood that remains manageable, suggests room for disciplined rent growth while maintaining retention.
Local amenities skew toward parks access rather than dining density: park access ranks in the top quartile nationally, while cafes and pharmacies are sparse within the immediate neighborhood. Grocery access is competitive for the metro. For multifamily residents, this translates to strong outdoor and recreation options with essential retail convenience, while destination retail and cafes may require short drives.
Home values in the neighborhood are elevated relative to many U.S. areas, and the value-to-income ratio sits above national norms. For investors, that high-cost ownership environment tends to reinforce reliance on rental housing and can support pricing power and lease retention, particularly for well-maintained, modern-vintage assets.
Neighborhood safety indicators compare favorably nationwide. Violent and property offense measures are in high national percentiles (mid-80s to low-90s), signaling comparatively safer conditions than most U.S. neighborhoods, based on WDSuite’s CRE market data.
Recent trend data show notable year-over-year decreases in estimated violent and property offenses at the neighborhood level, reinforcing an improving trajectory. As with any submarket, investors should underwrite to property-specific security measures and management practices, but the broader neighborhood context currently supports renter appeal and lease stability.
Proximity to major employers supports workforce housing demand and commute convenience for residents, led by corporate offices and headquarters within a short drive, including Lowe's, Duke Energy, Sysco, Merck, and Bank of America.
- Lowe's — home improvement HQ offices (1.3 miles) — HQ
- Duke Energy — utilities offices (13.7 miles)
- Sysco — food distribution offices (14.5 miles)
- Merck — pharmaceuticals offices (16.4 miles)
- Bank of America Corp. — financial services (23.0 miles) — HQ
This 2013-built, 24-unit asset offers modern-vintage construction that remains competitive against older regional stock, with potential to enhance returns through selective modernization as systems age. Neighborhood data point to a sizable renter-occupied share and expanding 3-mile population and household counts, supporting a deeper tenant base and occupancy stability over the hold period.
Elevated ownership costs locally and manageable rent-to-income levels suggest room for disciplined rent positioning without materially increasing retention risk. Employment access is a further tailwind, with nearby corporate employers underpinning steady leasing demand. According to CRE market data from WDSuite, neighborhood safety indicators track in higher national percentiles and recent offense trends have improved, which supports renter appeal and lease renewal potential.
- 2013 construction supports competitive positioning, with targeted value-add potential as the property matures
- Strong renter-occupied housing share at the neighborhood level indicates depth in the tenant base
- 3-mile population and household growth expand the renter pool, supporting occupancy stability
- Proximity to major employers underpins leasing demand and resident retention
- Risks: amenity depth is limited locally and neighborhood occupancy trends are below national medians; prudent underwriting and asset management are important