| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 45th | Good |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 75 Laurelwood Dr, Marion, NC, 28752, US |
| Region / Metro | Marion |
| Year of Construction | 1987 |
| Units | 25 |
| Transaction Date | 2019-07-30 |
| Transaction Price | $125,000 |
| Buyer | HOWE GEORGE J |
| Seller | GIBBS SANDRA R |
75 Laurelwood Dr, Marion NC — 25-Unit Multifamily in a Rural NC Submarket
Neighborhood fundamentals point to stable workforce housing dynamics, with moderate occupancy and strong local school ratings supporting tenant retention, according to WDSuite’s CRE market data.
Marion’s rural neighborhood cluster around 75 Laurelwood Dr ranks 5th of 26 metro neighborhoods (A-), signaling competitive positioning among local peers. The area skews practical rather than lifestyle-heavy: grocery and pharmacy access rank near the top of the metro, while cafes and parks are sparse. For investors, this mix typically supports steady day-to-day livability without commanding urban amenity premiums.
Neighborhood occupancy is measured at the neighborhood level, not the property; it trends in a moderate range and has inched up over the past five years, per WDSuite. School quality stands out, with the average rating among the top quartile nationally and 2nd of 26 within the metro—an attribute that can reinforce leasing stability for family-oriented renters.
Tenure patterns point to a workable renter base. Within the neighborhood, renter-occupied share is roughly in the one-quarter range, indicating a smaller but durable pool of renters; within a 3‑mile radius, renters comprise roughly one-third of housing units. For multifamily owners, this suggests depth without oversaturation—adequate demand to support occupancy while limiting direct competition from a dense rental cluster.
Home values sit below national norms for ownership, which can introduce some competition from entry-level buying. However, rent-to-income levels in the neighborhood are manageable by national standards, which supports lease retention and measured pricing power. Vintage also matters: with a 1987 construction date versus a neighborhood average from the early 1970s, the asset competes favorably against older stock while still warranting selective modernization of aging systems to bolster positioning.
Comparable, neighborhood-level crime metrics are not available in WDSuite for this area, so investors should benchmark safety using county and metro references and standard on-the-ground diligence. Without a verified rank among the 26 metro neighborhoods or a national percentile, treat safety as a confirm-and-verify item during underwriting rather than an assumed strength or weakness.
The employment base is primarily regional, with commuting patterns to nearby industrial and services hubs that can sustain renter demand. Notable accessible employer representation includes:
- Airgas Store — industrial gases distributor (30.7 miles)
This 25‑unit 1987 asset in Marion offers a pragmatic workforce housing thesis: a competitive neighborhood rank, strong school ratings, and manageable rent-to-income dynamics that support occupancy stability. The vintage is newer than the local average from the 1970s, suggesting relative competitiveness versus older comparables, while targeted updates can unlock incremental value-add. Based on commercial real estate analysis from WDSuite, neighborhood occupancy and day-to-day essentials (grocery, pharmacy) provide a solid foundation despite limited lifestyle amenities.
Demographic statistics aggregated within a 3‑mile radius show a recent soft patch but a forward trend toward renter pool expansion, with households projected to increase and incomes trending upward—both supportive of demand for rental units. Ownership remains relatively accessible locally, so underwriting should account for some competition from entry-level buying, but balanced rent levels and school strength can underpin retention.
- Competitive neighborhood standing (5th of 26) with top-quartile school ratings nationally supports leasing stability.
- 1987 vintage is newer than the area’s early‑1970s average, with scope for selective value‑add to enhance competitiveness.
- Essentials access (grocery, pharmacy) and manageable rent-to-income levels support occupancy and retention, per WDSuite’s CRE market data.
- 3‑mile demographics point to household growth and income gains, indicating a larger tenant base over the medium term.
- Risks: rural location with limited lifestyle amenities, potential competition from ownership options, and a smaller 25‑unit scale that may limit operating efficiencies.