| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 71st | Best |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 445 Stonewood Dr, Mooresville, NC, 28115, US |
| Region / Metro | Mooresville |
| Year of Construction | 1985 |
| Units | 68 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
445 Stonewood Dr, Mooresville - 68-Unit Value-Add Multifamily
Renter demand is supported by nearby employment and manageable rent-to-income levels, based on WDSuite’s CRE market data, positioning this asset for steady operations with targeted upgrades to enhance yield.
Situated in Mooresville’s inner-suburban fabric of the Charlotte metro, the neighborhood carries an A- rating and is competitive among 709 metro neighborhoods, with park access a clear strength. Restaurants and grocery options are around metro norms, while cafe and pharmacy choices are limited, implying a more car-oriented daily routine.
Multifamily fundamentals are balanced. Neighborhood occupancy trends track near the national middle, so routine leasing and renewal management will be more important than heavy concessions. The neighborhood’s renter-occupied share is close to half of housing units, a deeper tenant base than the broader 3-mile area where the renter share is closer to one-third, supporting leasing velocity for garden-style product.
Within a 3-mile radius, population and households have expanded and are projected to continue rising, pointing to a larger tenant base ahead and potential support for occupancy stability. Household sizes are edging smaller, which can favor one- and two-bedroom demand. Median home values run above national midpoints, and with market rents near national midpoints, this higher-cost ownership backdrop tends to reinforce reliance on multifamily housing and can aid retention.
Built in 1985, the asset may benefit from a focused value-add program—interior updates, energy-efficiency measures, and common-area improvements—to remain competitive versus newer stock, with routine systems maintenance included in capital plans.
Comparative safety indicators are favorable. According to WDSuite’s estimates, the neighborhood performs in the stronger national tiers for lower violent and property offenses, and recent year-over-year declines point to improving conditions. While safety can vary by block and over time, these readings suggest relative strength nationally and competitive standing within the Charlotte metro.
Access to major employers along the I-77 corridor supports workforce housing demand and commute convenience, which can translate into leasing stability and retention for nearby multifamily.
- Lowe's — corporate offices (2.8 miles) — HQ
- Sysco — distribution and corporate (13.6 miles)
- Duke Energy — corporate offices (15.5 miles)
- Merck — life sciences operations (16.5 miles)
- Bank of America Corp. — corporate and financial services (23.5 miles) — HQ
This 68-unit, 1985-vintage Mooresville asset benefits from a solid renter base, proximity to blue-chip employers, and a neighborhood profile that is competitive across the Charlotte metro. According to CRE market data from WDSuite, rents and rent-to-income appear manageable while ownership costs are higher relative to national midpoints, reinforcing reliance on rental housing and supporting renewal outcomes. Strong park access is a local amenity advantage, while car-oriented daily needs make on-site features more valuable.
Demographic growth within a 3-mile radius indicates continued population and household expansion, which supports occupancy stability and pricing power for well-maintained product. Given the vintage, a targeted value-add plan—unit interiors, lighting, and efficiency upgrades—can improve positioning versus newer deliveries, with prudent capital planning for aging systems to protect NOI.
- Expanding 3-mile population and households support a larger tenant base and steady leasing.
- Renter concentration in the immediate neighborhood deepens demand relative to the broader area.
- 1985 vintage offers clear value-add potential through unit and efficiency upgrades.
- Risk: mid-pack neighborhood occupancy and car-oriented amenities require active lease and amenity management.