| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 47th | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Muellers Cir, Statesville, NC, 28625, US |
| Region / Metro | Statesville |
| Year of Construction | 1998 |
| Units | 21 |
| Transaction Date | 2015-08-31 |
| Transaction Price | $9,800,000 |
| Buyer | SUMMER POINTE LLC |
| Seller | 296 MUELLERS CIRCLE HOLDINGS LLC |
100 Muellers Cir Statesville 21-Unit Multifamily Opportunity
Steady neighborhood occupancy and a growing 3-mile renter pool point to durable demand and manageable lease-up risk, according to WDSuite’s CRE market data. Positioning caters to value-oriented tenants while maintaining pricing flexibility in a high-cost ownership context.
Located in Statesville within the Charlotte–Concord–Gastonia metro, the neighborhood carries a B+ rating and ranks 231 out of 709, making it competitive among metro neighborhoods. Rents in this area track below the national median, which can support absorption for smaller formats and value-focused units.
Daily needs are reasonably covered: grocery and pharmacy access trend above national medians (national percentiles in the mid‑60s to low‑70s), parks are similarly accessible, while cafes are sparse and restaurants sit near the national midpoint. These dynamics favor essentials-oriented living over lifestyle retail.
Neighborhood occupancy sits in the low‑90% range, and roughly one‑third of housing units are renter‑occupied. For investors, that combination suggests a stable, diverse tenant base with room to capture share through targeted renovations and professional management.
Demographic statistics are aggregated within a 3‑mile radius: population and household counts have expanded, with households growing faster than population, which supports multifamily demand depth. Looking ahead, WDSuite’s data indicate continued household growth and a renter concentration trending toward the high‑40% range, reinforcing the local tenant base and supporting occupancy stability.
Home values in the neighborhood are elevated relative to local incomes (value‑to‑income ratio ranks in a higher national percentile), which tends to sustain reliance on rental options and supports lease retention. At the same time, a rent‑to‑income profile near the national midpoint points to manageable affordability pressure and practical lease management.
Based on WDSuite’s data, the neighborhood’s overall crime rank is 104 out of 709 within the Charlotte–Concord–Gastonia metro, which is below the metro median on safety. Nationally, however, it performs above the median, with crime metrics around the upper third of neighborhoods nationwide.
Violent‑offense indicators trend relatively favorable in a national context (top quartile nationally), and recent year‑over‑year movement shows improvement. Property‑offense measures sit around the upper third nationally as well, with modest declines over the past year. For investors, the takeaway is a mixed profile—stronger standing versus national peers but relatively less competitive within the metro—best addressed through standard security, lighting, and access‑control practices.
Proximity to a diverse regional employment base—anchored by home improvement retail, utilities, distribution, and pharma—supports workforce housing demand and commute convenience for renters. The employers below represent nearby demand drivers relevant to retention and leasing.
- Lowe's — home improvement HQ (19.1 miles) — HQ
- Duke Energy — utilities (27.9 miles)
- Sysco — foodservice distribution (30.1 miles)
- Merck — pharmaceuticals (34.0 miles)
- BB&T Corp. — financial services (40.6 miles) — HQ
Built in 1998, the 21‑unit property offers relatively modern bones compared with much of the region’s older stock, providing competitive positioning while leaving room for selective system updates or cosmetic upgrades to drive rent‑per‑foot on smaller formats (average unit size ~544 sq. ft.). According to CRE market data from WDSuite, neighborhood occupancy has held near the low‑90% range, and a growing 3‑mile renter pool underpins demand stability.
Statesville’s essentials‑oriented amenity mix, rents that trail national medians, and elevated ownership costs relative to incomes collectively support renter reliance on multifamily housing. Forward demographic trends—more households and a renter concentration drifting toward the high‑40% range—reinforce the case for disciplined value‑add and operational execution rather than outsized speculative growth.
- 1998 vintage offers competitive positioning versus older stock, with targeted updates likely sufficient for modernization.
- Smaller unit formats (~544 sq. ft.) align with value‑oriented demand and can support rent‑per‑foot performance.
- Neighborhood occupancy near the low‑90% range and an expanding 3‑mile renter pool support leasing stability.
- Elevated ownership costs relative to incomes sustain renter reliance, supporting retention and pricing power.
- Risks: safety stands below the metro median; small asset size (21 units) concentrates operational variance; forecasts are not guarantees.