| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 48th | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 Wheeless Cir, Nashville, NC, 27856, US |
| Region / Metro | Nashville |
| Year of Construction | 2000 |
| Units | 20 |
| Transaction Date | 2019-05-01 |
| Transaction Price | $400,000 |
| Buyer | MJ HURT LLC |
| Seller | COGGINS INVESTMENTS LLC |
115 Wheeless Cir, Nashville NC Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand supported by a competitive amenity mix and moderate rent-to-income dynamics, according to WDSuite s CRE market data.
Rated A+ and ranked 2 out of 68 neighborhoods in the Rocky Mount metro, the area around 115 Wheeless Cir stands out for overall neighborhood quality. For investors, this suggests durable appeal relative to nearby submarkets and supports leasing stability.
Access to daily-needs amenities is a relative strength: cafes (ranked 3 of 68), grocery options (5 of 68), and parks (5 of 68) place the neighborhood competitively among Rocky Mount neighborhoods. Nationally, amenity density trends in the mid-to-upper percentiles, providing convenience that helps with retention and day-to-day livability.
Multifamily demand signals are balanced. The neighborhood s occupancy rate is around the metro median (ranked 31 of 68), while renter-occupied housing accounts for a competitive share of units in the area (ranked 18 of 68; higher renter concentration nationally). This mix points to a workable depth of the tenant base with room for disciplined lease management rather than outsized pricing assumptions.
Construction stock skews newer than the metro average (average neighborhood vintage is 1987). With a 2000 vintage, the property should compete well versus older inventory, though investors should still plan for routine system updates and modernization to sustain positioning.
Within a 3-mile radius, recent data show a slight population dip over the last five years but a projected return to growth through 2028 alongside a notable increase in households and smaller average household sizes. This dynamic typically expands the renter pool and can support occupancy stability even if population growth is modest.
Home values in the area are comparatively accessible versus many national markets, which can introduce some competition from ownership. However, moderate rents and a rent-to-income profile near national norms help sustain rental demand, with leasing outcomes more tied to execution and unit quality than to outsized affordability pressure.
Safety conditions present a mixed picture. Within the Rocky Mount metro, the neighborhood s crime rank (13 out of 68 neighborhoods) indicates higher reported crime relative to many local peers. At the national level, overall crime indicators trend around the middle-to-slightly-better range, suggesting conditions that are neither outlier-high nor exceptionally low compared with neighborhoods nationwide.
Recent trends diverge by category: property-related incidents show a sharp year-over-year increase locally, while violent-offense indicators are in a stronger national percentile with a recent directional improvement. Investors typically address this by emphasizing professional property management, lighting and access controls, and by aligning underwriting with comps that reflect submarket-specific performance.
This 20-unit, 2000-vintage asset in Nashville, NC offers a practical entry point into a top-ranked neighborhood within the Rocky Mount metro. The location benefits from a competitive amenity base, a renter concentration that supports a stable tenant pool, and rent levels that align with local incomes. According to CRE market data from WDSuite, neighborhood occupancy is around the metro median, indicating the need for active leasing and asset management rather than reliance on momentum alone.
Demographic patterns within a 3-mile radius indicate modest population recovery ahead and a larger number of households as average household size trends lower. That generally expands the renter pool and supports occupancy. With a newer-for-the-area vintage, the property can compete well against older stock, while targeted updates should further enhance leasing, retention, and unit economics over time.
- Top-ranked neighborhood locally supports leasing durability and investor confidence
- Competitive amenity access and moderate rent-to-income dynamics aid retention
- 2000 vintage positions the asset well versus older inventory with room for modernization
- Forward outlook shows more households within 3 miles, expanding the tenant base
- Risk: crime conditions are higher than many local peers; underwriting should reflect professional management and security investments