| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 37th | Poor |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 138 Signal Hill Dr, Statesville, NC, 28625, US |
| Region / Metro | Statesville |
| Year of Construction | 1974 |
| Units | 122 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
138 Signal Hill Dr Statesville Multifamily Investment
Neighborhood occupancy is high and renter concentration is sizable, supporting leasing stability according to WDSuite’s CRE market data. This location offers workforce access in the Charlotte-Concord-Gastonia metro with rent levels that suggest manageable affordability for retention.
Statesville’s Inner Suburb setting offers everyday convenience rather than lifestyle-driven density. Grocery access tracks in the upper tier for the area (nationally strong), while restaurants are present at competitive levels; parks and cafes are limited, which skews the amenity mix toward essentials rather than leisure.
At the neighborhood level, occupancy stands at 98.5%, ranking 78 of 709 Charlotte-Concord-Gastonia neighborhoods — competitive within the metro and top quartile nationally. The share of housing units that are renter-occupied is 56.5% (ranked 77 of 709), indicating a deep tenant base that typically supports steady demand for multifamily.
Median contract rents in the neighborhood sit around the national middle, and a rent-to-income ratio near 0.25 suggests affordability pressure is comparatively moderate, which can aid lease retention and reduce turnover risk. Median home values are relatively accessible versus major coastal markets, yet ownership costs in this submarket still help sustain reliance on rental housing, supporting occupancy and pricing power through cycles.
Demographic statistics aggregated within a 3-mile radius point to a larger renter pool over time: population has grown in recent years and total households increased faster than population, with forecasts showing continued household gains and smaller average household sizes. For investors, that combination typically translates to a broader tenant base and support for stabilized occupancy.
School ratings are below average compared with national benchmarks, which may modestly limit appeal to some family renters; however, workforce renters often prioritize commute times and rent levels over school performance, aligning with this submarket’s fundamentals.
Safety trends are mixed in relative terms. Within the Charlotte-Concord-Gastonia metro, the neighborhood’s crime rank falls on the higher-incident side (crime rank 50 of 709, where lower ranks indicate more crime). In national context, however, WDSuite’s data places the area in the top quartile for safety (around the 78th–86th percentiles nationally across major indicators), indicating comparatively favorable conditions versus many U.S. neighborhoods.
Recent momentum is notable: estimated property offenses show a significant year-over-year decline, landing in a top-tier improvement cohort nationally. Investors should still underwrite standard security and lighting measures, but the directional trend supports operational stability.
Large nearby employers such as Lowe’s, Sysco, Merck, Bank of America, and Duke Energy underpin a diverse employment base that supports workforce renter demand and commuting convenience.
- Lowe's — home improvement retail (17.3 miles) — HQ
- Sysco — food distribution (27.9 miles)
- Merck — pharmaceuticals (32.1 miles)
- Bank of America Corp. — banking & financial services (38.9 miles) — HQ
- Duke Energy — utilities (39.1 miles) — HQ
This 122-unit, 1974-vintage asset sits in an Inner Suburb pocket of Statesville where neighborhood occupancy is high and the share of renter-occupied housing is sizable, pointing to a stable tenant base. According to CRE market data from WDSuite, local occupancy performance is competitive within the Charlotte-Concord-Gastonia metro and strong versus national benchmarks, while rent levels and a rent-to-income ratio near one-quarter suggest retention-friendly affordability.
Demographic statistics aggregated within a 3-mile radius indicate recent population growth and an outsized increase in households, with forecasts calling for continued household gains and smaller household sizes — dynamics that typically expand the renter pool and support stabilized cash flows. Built in 1974, the property likely benefits from value-add potential through unit renovations and systems upgrades; investors should plan for capital improvements to enhance competitiveness against newer stock.
- High neighborhood occupancy and solid renter concentration support leasing stability
- 3-mile area shows household growth and smaller household sizes, expanding the renter base
- Rent positioning and moderate rent-to-income dynamics aid retention and pricing flexibility
- 1974 vintage offers value-add and modernization upside with targeted capex