| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 7th | Poor |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Dudley Ave, Sanford, NC, 27330, US |
| Region / Metro | Sanford |
| Year of Construction | 1977 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 Dudley Ave, Sanford NC Multifamily Opportunity
Positioned in an inner-suburban pocket with strong everyday amenities and a sizable renter base, this 100-unit asset offers durable workforce demand, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood of Sanford rated B- and ranked 13 out of 23 locally, signaling mid-pack performance with specific strengths in convenience and daily needs. Amenity access is a clear positive: neighborhood counts for restaurants, cafes, groceries, pharmacies, and parks rank near the top among 23 Sanford neighborhoods, supporting resident retention and leasing velocity for workforce-oriented units.
From an investor lens, renter concentration is meaningful at the neighborhood level, with 45.2% of housing units renter-occupied. That depth in renter households supports multifamily demand even as neighborhood occupancy has trended softer in recent years, suggesting emphasis on leasing execution, unit turns, and competitive positioning to sustain occupancy.
Construction patterns skew older in the area (average year 1965 across the neighborhood), and this asset’s 1977 vintage is comparatively newer. For investors, that typically translates into a more competitive baseline versus pre-1970 stock while still planning for aging systems and selective modernization to drive rentability and control capex.
Within a 3-mile radius, demographic data show modest population change recently but an increase in households, with forecasts calling for further household growth through 2028. This points to a gradually expanding tenant base and supports occupancy stability over a longer horizon, particularly for value-oriented units.
Home values in the neighborhood are on the lower side for the region, which can present some competition from ownership options. For operators, this implies a focus on value, service quality, and modest upgrades to sustain pricing power without elevating rent-to-income beyond levels that could create retention risk.
Schools in the neighborhood rate below metro norms, which may matter for family-oriented leasing strategies. Positioning toward workforce renters prioritizing commute convenience and daily amenities can help mitigate sensitivity to school ratings.
Neighborhood safety trends are a relative strength. The area sits in the top decile nationally for safety metrics and is competitive among Sanford neighborhoods (ranked 4 out of 23, i.e., top quartile locally). For investors, this supports resident appeal and lease retention compared with submarkets that face higher incident rates.
Recent data also indicate sharp year-over-year declines in both violent and property offense rates at the neighborhood level, among the strongest improvements nationally. While block-level conditions can vary and onsite operations still matter, the broader trend is constructive for multifamily performance and long-term positioning.
Regional employment anchors within commuting distance help support workforce housing demand and lease stability, including insurance, technology, and life sciences employers concentrated toward the Triangle. The list below highlights representative nearby nodes that underpin commuting patterns and renter demand.
- Erie Insurance Group — insurance (27.9 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (29.7 miles)
- Cisco Systems, Building 8 — technology (31.5 miles)
- Cisco Systems — technology (31.5 miles)
- Biogen Idec — biotechnology (31.9 miles)
This 100-unit 1977 multifamily property aligns with a renter-heavy neighborhood that benefits from strong daily amenities and improving safety trends. While neighborhood occupancy has been comparatively soft, the combination of a sizable renter base, convenience retail coverage, and an expanding household count within 3 miles supports demand stability over time. The 1977 vintage is newer than much of the local housing stock, offering a competitive edge versus older properties while leaving room for targeted renovations to enhance leasing velocity.
According to CRE market data from WDSuite, the surrounding neighborhood ranks near the top locally for restaurants, groceries, parks, and pharmacies—factors that help with tenant retention in workforce housing. Operators should balance value-add ambitions with rent-to-income considerations and be mindful that relatively accessible ownership costs can compete with rentals; disciplined pricing, service, and selective upgrades can preserve occupancy and steady cash flow.
- Amenity-rich neighborhood supports renter appeal and lease retention.
- 1977 vintage is newer than area averages, with scope for targeted modernization.
- 3-mile household growth outlook expands the tenant base over time.
- Regional employers within commuting distance underpin workforce demand.
- Risks: softer neighborhood occupancy and competition from ownership require disciplined pricing and leasing execution.