| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 34th | Poor |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 Dalton Dr, Mooresville, NC, 28115, US |
| Region / Metro | Mooresville |
| Year of Construction | 1977 |
| Units | 36 |
| Transaction Date | 2025-03-20 |
| Transaction Price | $1,056,000 |
| Buyer | SEDGEFIELD APARTMENTS NC LLC |
| Seller | SOUTHEASTERN HOUSING PRESERVATION INC |
310 Dalton Dr Mooresville Value-Add Multifamily Investment
Household growth within a 3-mile radius and proximity to major employers point to a durable renter base, according to WDSuite’s CRE market data. Neighborhood occupancy is discussed at the neighborhood level, not the property, with demand supported by inner-suburban fundamentals.
Mooresville’s inner-suburban setting offers daily convenience that supports leasing: restaurants and cafes score in the upper national percentiles, and grocery and pharmacy access is similarly strong. This amenity mix helps properties compete for tenants seeking short commutes and everyday services.
The neighborhood is rated A- and ranks 159 out of 709 Charlotte-area neighborhoods, placing it in the top quartile among metro peers. Renter-occupied housing accounts for a meaningful share of units in the neighborhood (reported as renter-occupied share), which broadens the local tenant pool and can aid leasing velocity for multifamily assets.
Within a 3-mile radius, population and household counts have grown over the past five years and are projected to expand further, indicating renter pool expansion that can support occupancy stability. Median household incomes in the 3-mile area trend higher than earlier periods, which can underpin rent collections and reduce turnover risk, while a modest rent-to-income environment at the neighborhood level suggests some room for disciplined pricing without undue affordability pressure.
At the same time, neighborhood-level occupancy has trended softer over the last five years and sits below the metro median, signaling the need for active leasing and asset positioning. Elevated home values relative to incomes in the neighborhood context indicate a higher-cost ownership market, which tends to reinforce reliance on rental options and can support tenant retention.
Neighborhood-level safety metrics were not available in this dataset. Investors typically benchmark conditions against city and metro trends and track multi-year direction rather than block-level snapshots. Standard diligence—reviewing public safety reports and recent trend lines—can help contextualize leasing and retention strategies without over-relying on short-term fluctuations.
Nearby employers anchor a diverse employment base that supports renter demand and commute convenience, including Lowe's, Sysco, Duke Energy, Merck, and Bank of America Corp. These nodes help stabilize leasing by drawing a steady workforce within practical drive times.
- Lowe's — corporate offices (3.4 miles) — HQ
- Sysco — corporate offices (14.8 miles)
- Duke Energy — corporate offices (15.9 miles)
- Merck — corporate offices (17.7 miles)
- Bank of America Corp. — corporate offices (24.7 miles) — HQ
Built in 1977, this 36-unit Mooresville asset offers value-add potential through targeted renovations and system upgrades that can improve competitive positioning versus newer stock. Household and income growth within a 3-mile radius point to a larger tenant base over the next cycle, while neighborhood-level renter concentration supports demand depth for multifamily.
Neighborhood occupancy trends indicate the need for proactive leasing and amenity execution; however, proximity to major employers and a high-cost ownership landscape can help sustain renter reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood sits below the metro median for occupancy, suggesting investors should underwrite with conservative lease-up timelines while pursuing operational efficiencies.
- 1977 vintage presents renovation and value-add upside for rent and retention gains
- Expanding 3-mile population and households support a growing renter pool
- Proximity to major employers underpins leasing stability and renewals
- High-cost ownership context reinforces rental demand and pricing power discipline
- Risk: neighborhood occupancy below metro median requires conservative underwriting and active leasing