| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 34th | Poor |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 W Wilson Ave, Mooresville, NC, 28117, US |
| Region / Metro | Mooresville |
| Year of Construction | 1988 |
| Units | 110 |
| Transaction Date | 2014-03-14 |
| Transaction Price | $5,850,000 |
| Buyer | LHNH Holdings, LLC |
| Seller | BHC Country Club, LLC |
900 W Wilson Ave Mooresville Multifamily Investment
Neighborhood renter-occupied share suggests a deeper tenant base even as broader occupancy trends are mixed, according to WDSuite’s CRE market data. Proximity to major employers and strong daily amenities supports leasing velocity without overreliance on downtown demand.
Mooresville’s inner-suburb location offers day-to-day convenience that supports workforce and commuter demand. Amenity access is a clear strength: the neighborhood ranks 8th among 709 Charlotte metro neighborhoods for overall amenities and sits in the top quartile nationally for restaurants, cafes, groceries, pharmacies, and parks. For investors, this depth of services can aid resident retention and limit drive-time friction for prospective tenants.
The neighborhood carries an A- overall rating and ranks 159th of 709 in the Charlotte metro, indicating competitive standing versus peer locations. While neighborhood occupancy is currently softer than national norms, the share of housing units that are renter-occupied is above average (78th percentile nationally), pointing to a deeper renter pool that can help sustain absorption through normal leasing cycles, based on CRE market data from WDSuite.
Within a 3-mile radius, population and households have expanded materially over the last five years, with additional household growth forecast through 2028. This points to a larger tenant base and continued renter pool expansion, which can support occupancy stability and renewal performance as new supply ebbs and flows.
Home values in the neighborhood sit near national midrange levels, but the value-to-income ratio trends higher (72nd percentile nationally). In practice, a high-cost ownership market relative to incomes tends to sustain reliance on rental housing, which can underpin lease-up pace and pricing power for well-managed multifamily assets. Rent-to-income levels hover near manageable territory, suggesting room for disciplined revenue management rather than aggressive pushes that risk elevated turnover.
Comparable, neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically benchmark safety using multiple sources and trend views (city and county reporting alongside neighborhood peers) to understand relative conditions and whether they are improving or stabilizing. Given the lack of directly comparable data here, a prudent approach is to evaluate multi-year trends and compare against nearby Charlotte metro neighborhoods for context.
The area draws from a diverse regional employment base that supports renter demand and commuting convenience, led by corporate services, energy, healthcare, and logistics. Employers highlighted below represent nearby drivers of steady leasing and resident retention.
- Lowe's — corporate offices (2.9 miles) — HQ
- Sysco — distribution & foodservice (15.1 miles)
- Duke Energy — energy services (15.2 miles)
- Merck — pharmaceuticals (17.6 miles)
- Bank of America Corp. — financial services (24.4 miles) — HQ
Built in 1988, the 110-unit asset offers scale in a submarket with strong daily amenities and access to major employers. Vintage implies near- to medium-term capital planning for exterior systems and common-area modernization, but also presents value-add potential to enhance competitive positioning against newer stock. According to CRE market data from WDSuite, the neighborhood shows above-average renter concentration and robust household growth within 3 miles, which together point to durable multifamily demand even as current neighborhood occupancy trends are softer.
Ownership remains relatively high-cost versus incomes in the neighborhood context, which can reinforce renter reliance on multifamily housing and support lease retention. Amenity depth and proximity to corporate employment nodes further bolster demand fundamentals, while disciplined revenue management is advisable given neighborhood-level occupancy readings and conservative NOI baselines observed across comparable locations.
- Inner-suburb location with top-tier amenity access supports retention and leasing
- Renter-occupied share and 3-mile household growth indicate a deeper tenant base
- 1988 vintage offers value-add potential alongside prudent capital planning
- Proximity to major employers underpins demand across income bands
- Risk: neighborhood occupancy is below national norms, warranting conservative underwriting and focused leasing operations