| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 70th | Good |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1655 Central Dr, Southern Pines, NC, 28387, US |
| Region / Metro | Southern Pines |
| Year of Construction | 1978 |
| Units | 51 |
| Transaction Date | 2025-09-26 |
| Transaction Price | $6,125,000 |
| Buyer | HUNTERS GLEN PROPCO LLC |
| Seller | HOI LIMITED PARTNERSHIP OF SOUTHERN PINE |
1655 Central Dr Southern Pines Multifamily Opportunity
Neighborhood fundamentals point to stable renter demand and strong occupancy, according to WDSuite s CRE market data. High household incomes and a high-cost ownership market support pricing power while warranting careful affordability monitoring.
Southern Pines neighborhood scores are competitive among 39 metro neighborhoods (overall A rating; rank 6 of 39), with occupancy in the neighborhood around 96% (rank 2 of 39; top quartile nationally). For investors, that translates to steady leasing and limited downtime, though concessions strategy should remain disciplined as new product across the metro competes for tenants.
The area skews more owner-occupied, with a relatively low share of housing units that are renter-occupied (rank 14 of 39). This suggests a thinner, but often more stable, tenant base; operators should emphasize retention and renewals to sustain occupancy. Neighborhood median contract rents sit near the top of the metro (rank 1 of 39; high national percentile), while the rent-to-income ratio is moderate, implying manageable affordability pressure and supporting lease stability.
Amenities are mixed: grocery and pharmacy access rank near the top of the metro (ranks 3 and 5 of 39), but dining, cafes, and park density are limited within the immediate neighborhood. Average school ratings are strong (rank 3 of 39; top quartile nationally), which can bolster long-term rental appeal for family renters. These local dynamics indicate demand consistent with suburban, higher-income households.
Within a 3-mile radius, population and household counts have grown materially over the past five years, with further gains projected, expanding the renter pool and supporting occupancy stability. Household incomes in the 3-mile area are high and rising, reinforcing the thesis that elevated ownership costs in the neighborhood sustain reliance on multifamily housing. This context aligns with investor takeaways from multifamily property research without over-relying on short-term momentum.
Vintage matters: the property was built in 1978, while nearby stock skews newer on average (2007; rank 5 of 39). Older construction can present capital expenditure needs but also offers value-add and modernization upside to compete against newer assets.
Safety indicators are favorable compared with both the metro and the nation. The neighborhood s crime profile is competitive among Pinehurst Southern Pines neighborhoods (rank 4 of 39) and sits in the upper tiers nationally (around the 79th percentile for overall safety), signaling comparatively lower crime exposure.
Violent offenses benchmark very well (top national percentile) with recent year-over-year improvement, while property crime shows a modest downward trend. As always, investors should assess micro-location and site operations, but the broader safety context supports renter retention and leasing velocity.
1655 Central Dr benefits from a high-income suburban context where neighborhood occupancy runs above metro norms and renter households are supported by a high-cost ownership market. Based on CRE market data from WDSuite, local rents are among the metro s highest while rent-to-income levels suggest manageable affordability pressure, supporting retention and measured rent growth tactics.
The 1978 vintage introduces potential value-add and systems modernization opportunities to better compete with newer stock nearby, while the 3-mile area s population and household growth expands the tenant base and supports leasing stability. Operators who focus on renewals, unit upgrades, and service quality can position the asset to capture demand in a market with strong schools and essential retail access but limited discretionary amenity density.
- Neighborhood occupancy in the top tier of the metro supports stable leasing
- High-income households and a high-cost ownership market reinforce multifamily demand
- 1978 vintage offers value-add and modernization potential versus newer nearby stock
- 3-mile population and household growth expands the renter pool and supports retention
- Risks: thinner renter concentration locally and limited discretionary amenities require strong renewal and marketing execution