| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 89th | Best |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 McLean Rd, Pinehurst, NC, 28374, US |
| Region / Metro | Pinehurst |
| Year of Construction | 1998 |
| Units | 41 |
| Transaction Date | 2017-04-12 |
| Transaction Price | $1,400,000 |
| Buyer | ROBERTS PROFFESSIONAL SERVICES LLC |
| Seller | CHANDLER CHANDLER W |
15 McLean Rd, Pinehurst NC Multifamily Investment Thesis
Positioned in a high-income suburban pocket of Pinehurst, the asset benefits from strong neighborhood fundamentals and an occupancy profile that sits above the metro median, according to WDSuite’s CRE market data. Elevated ownership costs and household growth nearby support steady renter demand and lease retention without relying on outsized rent gains.
The property sits in an A+ rated suburban neighborhood within the Pinehurst–Southern Pines metro (ranked 2 out of 39 neighborhoods). Local amenities skew toward dining and cafes, which are competitive among metro peers (cafe and restaurant density rank 2 of 39) and land in the top quartile nationally for cafes. Parks access also compares favorably metro-wide (rank 3 of 39), adding to day-to-day livability for residents.
Schools are a standout strength: the neighborhood’s average school rating ranks 1 out of 39 and sits in the top percentile nationally. For family-oriented renters, this typically supports retention and reduces turnover risk compared with metro alternatives.
Home values in the neighborhood are elevated relative to both metro and national benchmarks (top decile nationally), which generally reinforces reliance on multifamily housing and can support pricing power when paired with quality product. At the same time, the neighborhood’s rent-to-income positioning indicates manageable tenant affordability, helping sustain collections and renewal potential.
3-mile demographics show population and household expansion with smaller average household sizes, pointing to a larger renter pool over the next several years and support for occupancy stability. Tenure patterns indicate a lower renter-occupied share in the immediate neighborhood today, but projections within 3 miles show an increasing renter concentration, which should deepen the tenant base over time.
Built in 1998 versus a neighborhood average vintage of 1981, the asset is newer than much of the surrounding stock. This positioning can enhance competitiveness against older properties, though investors should still plan for system updates and selective renovations to keep pace with renter expectations.
Neighborhood safety indicators compare favorably, with crime outcomes competitive among Pinehurst–Southern Pines neighborhoods (rank 11 of 39) and in the upper tiers nationally (around the 70th percentile). Recent year-over-year trends in both violent and property incidents show declines, suggesting improving conditions relative to last year. As always, investors should evaluate submarket and asset-level security practices alongside these area trends.
This 41-unit, 1998-vintage asset aligns well with a high-income, low-renter neighborhood where elevated ownership costs sustain multifamily demand. Neighborhood occupancy is above the metro median, and top-ranked schools plus competitive amenity access underpin retention. According to CRE market data from WDSuite, the surrounding area’s cafe and restaurant density is competitive locally and schools are the metro’s strongest, both supportive of leasing stability.
Within a 3-mile radius, recent and projected increases in households alongside smaller household sizes point to a growing renter pool. Newer-than-average vintage versus local stock provides a positioning edge, while selective upgrades can capture value as rents trend with household income growth. Key risks include a currently thin renter-occupied share in the immediate neighborhood and modest service coverage for certain daily needs, which may slow lease-up if not offset by product quality and management.
- 1998 vintage is newer than neighborhood average, supporting competitive positioning versus older assets
- Elevated ownership costs and high incomes reinforce reliance on rentals and support pricing power
- Strong schools (top in metro) and competitive amenities bolster retention and leasing stability
- 3-mile population and household growth with smaller household sizes expand the renter pool
- Risk: lower renter-occupied share locally and uneven service coverage could slow lease-up