| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 37th | Poor |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2101 Windrush Ct, Statesville, NC, 28625, US |
| Region / Metro | Statesville |
| Year of Construction | 2000 |
| Units | 76 |
| Transaction Date | 2019-06-14 |
| Transaction Price | $4,600,000 |
| Buyer | Harmony Housing Advisors, Inc. |
| Seller | --- |
2101 Windrush Ct, Statesville NC Multifamily Investment
Neighborhood occupancy is strong and renter demand is durable, according to WDSuite’s CRE market data, positioning this Statesville asset for stable leasing in a workforce-oriented pocket with growing household counts within a 3-mile radius.
Statesville’s Inner Suburb setting around 2101 Windrush Ct shows resilient renter demand. The neighborhood’s occupancy is high at the area level and ranks 78th out of 709 metro neighborhoods, placing it in the top quartile nationally (92nd percentile), which supports day‑to‑day leasing stability and renewal potential based on CRE market data from WDSuite.
Renter-occupied housing comprises an estimated 56.5% of units in this neighborhood (ranked 77th of 709), signaling a deep tenant base for multifamily operators and reinforcing demand across unit mixes. Within a 3-mile radius, population has expanded in recent years and households have grown meaningfully, with forecasts indicating further household gains through 2028. This trajectory points to a gradually expanding renter pool that can support occupancy and absorption.
Daily needs are reasonably served by nearby essentials: grocery access sits around the 77th national percentile and pharmacies near the 70th, while restaurants trend around the mid‑60s percentile. However, parks, cafes, and childcare options are limited locally, which may modestly narrow appeal for certain lifestyle-driven renters. Average school ratings in the neighborhood are low relative to national peers, which is a consideration for family-oriented leasing strategies.
Home values in the neighborhood reflect a relatively accessible ownership market by national standards, while the value-to-income ratio trends elevated for the area. In practice, higher ownership costs in comparable metros and a neighborhood rent-to-income ratio near one-quarter suggest balanced affordability pressures that can aid lease retention but still require attentive rent management. Built in 2000, the property’s vintage may offer selective value‑add and modernization opportunities to enhance competitiveness versus newer stock while planning for capital items typical of early‑2000s construction.
Neighborhood safety trends are comparatively favorable in a metro context. The area’s crime rank is 50th out of 709 metro neighborhoods, and national indicators place the neighborhood in high percentiles for safety (around the mid‑80s), suggesting relatively lower incident rates than many neighborhoods nationwide.
Property crime measures have improved notably over the past year, ranking in the upper national percentiles for rate improvement, while violent crime trends have been more mixed and closer to national mid-range changes. For investors, the metro‑competitive rank and improving property offense indicators support renter retention and leasing consistency, while ongoing monitoring of violent crime trends remains prudent.
The broader Iredell–Charlotte employment base supports renter demand through access to corporate and operations roles within commuting distance. Key nearby employers include Lowe’s, Duke Energy, Sysco, Merck, and Bank of America, which help sustain a steady inflow of workers who value commute convenience.
- Lowe’s — home improvement corporate offices (18.0 miles) — HQ
- Duke Energy — electric utility (27.6 miles)
- Sysco — food distribution (28.5 miles)
- Merck — pharmaceuticals (32.8 miles)
- Bank of America Corp. — banking and financial services (39.7 miles) — HQ
This 2000-vintage, mid-sized asset benefits from a neighborhood with high occupancy and a renter-occupied housing share that supports depth of demand. Within a 3-mile radius, recent growth in households and a projected increase through 2028 point to a larger tenant base over time, supporting occupancy stability and renewal performance. According to WDSuite’s commercial real estate analysis, local essentials such as groceries and pharmacies score well versus national peers, aiding day-to-day livability for residents.
Balanced affordability factors and an ownership landscape that is not excessively low-cost help sustain reliance on rental housing, while the property’s vintage offers practical value‑add levers through unit modernization and systems upgrades. Key risks to underwrite include limited parks and lifestyle amenities, below-average neighborhood school ratings, and the need to stay disciplined on rents relative to local incomes.
- High neighborhood occupancy (ranked 78 of 709 metro areas; top-quartile nationally) supports leasing stability
- Renter-occupied share around the majority of units indicates a deep tenant base for multifamily demand
- 3-mile household growth and further projected gains expand the renter pool and support absorption
- 2000 vintage offers targeted value-add via updates and capital planning to compete with newer stock
- Risks: limited parks/cafes and low average school ratings; maintain rent discipline relative to local incomes