| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 83rd | Best |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 N Bennett St, Southern Pines, NC, 28387, US |
| Region / Metro | Southern Pines |
| Year of Construction | 1995 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 N Bennett St Southern Pines Multifamily Investment
Household growth within a 3-mile radius and a renter base that ranks among the higher tiers locally suggest steady tenant demand, according to WDSuite s CRE market data. With relatively accessible in-neighborhood rents, execution and thoughtful upgrades could translate into durable occupancy and measured pricing gains.
The property sits in an A- rated, Suburban neighborhood in Southern Pines that ranks 8 out of 39 within the Pinehurst Southern Pines, NC metro competitive among metro neighborhoods. Local rents index below national norms (rank 15 of 39; national percentile 38), which can support leasing velocity while leaving room for value-add repositioning to capture incremental revenue.
Livability favors quiet residential character over dense retail. Restaurants are present at moderate levels (rank 7 of 39), while cafes, groceries, and pharmacies are sparse within the neighborhood footprint. Parks show comparatively better availability (rank 5 of 39; national percentile 65). Investors should underwrite car-oriented living and highlight proximity to regional retail nodes rather than walkable retail at the block level.
On housing dynamics, the neighborhood s renter-occupied share ranks 6 out of 39 competitive for this metro and consistent with a meaningful tenant base. Neighborhood occupancy is below national averages (national percentile 25) and has eased over five years, so asset-level leasing strategy and unit readiness will matter to stabilize and retain tenants.
Demographics aggregated within a 3-mile radius indicate population growth over the past five years alongside a larger increase in the number of households and a shift toward smaller household sizes. Forward-looking projections call for additional population and household gains by 2028, which points to a larger renter pool and support for occupancy over the hold period. Household incomes in the neighborhood trend above national benchmarks (national percentile 72), and elevated home values relative to income (national percentile 66) suggest a high-cost ownership context that can sustain multifamily demand.
Vintage context: the asset was built in 1995 versus a neighborhood average vintage around the late 1990s. Being slightly older than nearby stock implies potential capital planning for building systems and interiors, with corresponding value-add upside to enhance competitiveness against newer comparables.
Safety indicators compare favorably at a high level: the neighborhood s overall safety profile sits above national averages (national percentile 62) and is competitive among Pinehurst Southern Pines neighborhoods (rank 16 out of 39). Property offenses show an improving trend year over year, with estimated rates declining, and violent offense levels also compare better than many areas nationally (national percentile 62). These are area-wide measures and may not reflect conditions on specific blocks; ongoing monitoring remains prudent for underwriting.
500 N Bennett St is a 51-unit, 1995-vintage asset positioned in an A- rated Southern Pines neighborhood where rents sit below national norms but household incomes are comparatively strong. According to CRE market data from WDSuite, the area s renter concentration is competitive within the metro and the 3-mile radius shows growth in households with projections for further expansion by 2028 eadwinds for a deeper tenant base that can support occupancy stability as units are upgraded.
The asset s slightly older vintage versus nearby stock points to a straightforward value-add path: targeted renovations and systems updates to close the gap with newer product and prudently capture rent lift while maintaining affordability relative to incomes. Underwriting should account for neighborhood occupancy running below national benchmarks and for limited walkable retail, offset by car-friendly access to regional amenities and a high-cost ownership environment that tends to reinforce reliance on rental housing.
- Competitive A- neighborhood rank (8 of 39) with incomes above national benchmarks supporting rent integrity
- 3-mile radius shows rising and projected growth in households, expanding the renter pool and supporting lease-up
- 1995 vintage offers clear value-add and system-refresh opportunities to improve positioning versus newer comparables
- Below-national rent levels with strong rent-to-income headroom provide measured pricing power with renovations
- Risks: neighborhood occupancy below national averages and limited in-neighborhood retail require strong leasing and amenity strategy