| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 78th | Best |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 130 Landings Dr, Mooresville, NC, 28117, US |
| Region / Metro | Mooresville |
| Year of Construction | 2013 |
| Units | 68 |
| Transaction Date | 2024-10-15 |
| Transaction Price | $76,000,000 |
| Buyer | BH-LANGTREE JV LLC |
| Seller | LANGTREE HUD DEVELOPMENT COMPANY LLC |
130 Landings Dr Mooresville 2013 Multifamily Investment
Positioned in a suburban pocket near major employers, this 68‑unit asset benefits from strong household incomes and elevated ownership costs that support rental demand, according to WDSuite’s CRE market data.
The property sits in a suburban neighborhood of Mooresville (B+ rating) that is competitive among Charlotte-Concord-Gastonia neighborhoods and above the metro median (rank 207 of 709). Limited walkable retail and services nearby point to a car-oriented setting, but the area’s established single-family housing and proximity to regional job centers contribute to stable renter interest.
Neighborhood schools average roughly 4.0 out of 5 (rank 45 of 709), placing education quality in the top quartile nationally. This tends to support family-oriented leasing and retention versus lower-rated submarkets across the metro.
Rents in the surrounding neighborhood benchmark high relative to U.S. peers while rent-to-income levels remain comparatively manageable, which can aid lease stability. Ownership remains a high-cost proposition here versus national norms, reinforcing reliance on multifamily housing and helping preserve pricing power for well-maintained assets.
Within a 3-mile radius, WDSuite’s multifamily property research indicates population growth over the past five years alongside a notable increase in households and a shift toward smaller household sizes. The renter-occupied share is approximately two-fifths of units, supporting a sizeable tenant base; forward-looking projections show additional household growth through 2028, which should expand the renter pool and support occupancy over the medium term.
Based on WDSuite’s neighborhood benchmarks, recent trends show violent and property offense rates declining year over year, and the area scores in the top quartile nationally for safety compared with neighborhoods across the country. At the metro level, results are competitive among Charlotte-Concord-Gastonia neighborhoods, suggesting a generally favorable backdrop for resident retention and operations.
The immediate area draws from a diversified employment base anchored by corporate offices along the I‑77 corridor, supporting workforce housing demand and commute convenience for residents. Key nearby employers include Lowe’s, Duke Energy, Sysco, Merck, and Bank of America Corp.
- Lowe's — corporate offices (1.3 miles) — HQ
- Duke Energy — corporate offices (11.5 miles)
- Sysco — corporate offices (14.1 miles)
- Merck — corporate offices (14.6 miles)
- Bank of America Corp. — corporate offices (20.7 miles) — HQ
130 Landings Dr offers 68 units built in 2013, providing a relatively modern vintage that competes well against older product while leaving room for selective upgrades as systems age into their second decade. Demand is underpinned by high neighborhood home values and strong local incomes, with a substantial renter-occupied presence within 3 miles and proximity to major employers along I‑77. According to CRE market data from WDSuite, the broader neighborhood’s occupancy trends have been softer than metro leaders, but household growth and an expanding renter pool support a constructive medium-term outlook.
For investors, the thesis centers on durable suburban fundamentals, solid school quality, and corporate adjacency that bolsters day-to-day leasing. With ownership costs elevated relative to incomes, multifamily remains a practical option for many households, supporting rent collections and renewal potential, provided operators manage pricing and amenities effectively in a car-oriented submarket.
- 2013 construction provides competitive positioning versus older stock with targeted value-add potential
- Corporate demand drivers nearby (Lowe’s HQ and regional offices) support leasing and retention
- High ownership costs and manageable rent-to-income dynamics reinforce rental demand and pricing power
- School quality in the top quartile nationally aids family-oriented demand and renewal rates
- Risks: car-oriented amenities and neighborhood occupancy below metro leaders require active asset management