| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 36th | Poor |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1320 4th Creek Landing Dr, Statesville, NC, 28625, US |
| Region / Metro | Statesville |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1320 4th Creek Landing Dr Statesville 24-Unit Multifamily
Early-2000s asset with spacious floorplans and a renter base supported by steady household growth and manageable rent-to-income dynamics, according to WDSuite s CRE market data. Neighborhood occupancy trends sit near national norms, pointing to stable leasing conditions rather than volatility.
Located in Statesville within the Charlotte metro, the property sits in a neighborhood rated B- (ranked 397 among 709 metro neighborhoods), indicating mid-pack positioning locally. Amenity access is competitive among Charlotte neighborhoods, with cafes and everyday retail represented at levels that track around national mid-to-upper ranges, though parks and formal childcare options are limited in the immediate area according to CRE market data from WDSuite.
Renter concentration within a 3-mile radius is approximately 42.6% of housing units being renter-occupied, suggesting a defined tenant base to support multifamily demand. Neighborhood occupancy trends are around the national median, which typically supports consistent, though not outsized, leasing velocity and retention.
Within a 3-mile radius, population and household counts have expanded over the past five years, and WDSuite data indicates additional growth in households in the coming years. This expansion points to a larger tenant base and underpins demand for rental units. Median household incomes in the 3-mile area have risen, while rent levels have also advanced, keeping rent-to-income readings in a range that supports lease stability and pragmatic pricing decisions.
Ownership costs in the neighborhood are relatively accessible compared with higher-cost coastal markets, which can introduce some competition from entry-level homeownership. Even so, steady household growth, increasing incomes, and rising asking rents within the 3-mile radius provide a helpful backdrop for multifamily absorption and retention.
Safety trends are mixed. Nationally, the neighborhood benchmarks in the top quartile for safety based on WDSuite s crime percentiles, indicating comparatively lower incident rates versus many U.S. neighborhoods. However, within the Charlotte metro it ranks closer to the higher-crime tier among 709 neighborhoods, so underwriting should reflect standard precautions consistent with workforce submarkets.
Recent year-over-year indicators show sizable declines in both property and violent offenses at the neighborhood level. While such downshifts are constructive, investors should verify whether these improvements are durable and monitor any shifts in local enforcement or reporting practices over time.
Proximity to regional employers supports workforce housing demand and commute convenience, notably across home improvement retail, utilities, food distribution, pharmaceuticals, and banking.
- Lowe's — home improvement retail (19.2 miles) — HQ
- Duke Energy — utilities (28.3 miles)
- Sysco — food distribution (30.0 miles)
- Merck — pharmaceuticals (34.1 miles)
- BB&T Corp. — banking (40.0 miles) — HQ
Built in 2001, this 24-unit Statesville asset offers larger average floorplans that can bolster tenant retention as households seek functional space. Neighborhood occupancy sits around national norms, while a 3-mile radius shows population and household growth with rising incomes, supporting a broader renter pool and consistent demand. According to commercial real estate analysis from WDSuite, rent levels have been trending upward locally, and ownership remains relatively accessible, which may temper pricing power but also encourages renters to weigh the value of larger units and convenience.
Given its early-2000s vintage, investors should plan for targeted systems modernization and common-area refreshes to maintain competitive positioning versus newer deliveries. The submarket s amenity access is serviceable, though limited park and childcare options and lower average school ratings suggest demand will skew toward workforce households rather than school-driven leasing. Safety metrics compare favorably at the national level but warrant metro-aware underwriting.
- Early-2000s vintage with larger average unit sizes supports retention and family appeal
- Expanding 3-mile renter pool and rising incomes underpin stable occupancy and absorption
- Directionally rising rents per WDSuite data, enabling pragmatic revenue management
- Value-add potential via systems and common-area upgrades to compete with newer stock
- Risks: competitive pull from entry-level ownership, lower-rated schools, and metro-relative crime positioning