| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 31st | Poor |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Laurel Pointe Cir, Salisbury, NC, 28147, US |
| Region / Metro | Salisbury |
| Year of Construction | 1998 |
| Units | 100 |
| Transaction Date | 2019-06-14 |
| Transaction Price | $7,300,000 |
| Buyer | Harmony Housing Advisors, Inc. |
| Seller | --- |
100 Laurel Pointe Cir Salisbury Multifamily Investment
Neighborhood-level occupancy has hovered near the national median with a high share of renter-occupied housing supporting depth of demand, according to WDSuite’s CRE market data. This balance points to steady leasing potential for a 100-unit asset in Salisbury while keeping underwriting disciplined through pragmatic commercial real estate analysis.
Located in the Charlotte–Concord–Gastonia metro, the neighborhood carries a C+ rating and ranks 486 out of 709 metro neighborhoods. Investor takeaway: performance signals are mixed but serviceable, with tenant demand supported by a high renter-occupied share and occupancy near national norms, per WDSuite’s data.
Renter concentration is a key strength: renter-occupied units account for a significant share of neighborhood housing (ranked 64 of 709), placing the area competitive among Charlotte neighborhoods and well above national norms for renter concentration. For multifamily investors, this depth in renter households suggests a broader tenant base and supports occupancy stability through cycles.
Rent and ownership context favors rentals. Neighborhood contract rents benchmark around the metro median, while home values sit below the national midpoint and the value-to-income ratio trends higher than many markets. In practice, this high-cost ownership market relative to local incomes can reinforce reliance on multifamily housing, supporting lease retention and pricing power for well-positioned assets.
Everyday convenience is adequate rather than destination-driven. Restaurants and groceries track around national mid-range, but parks and cafes are limited locally. Average school ratings trend below national norms, which may influence certain tenant segments; however, proximity to jobs across the broader region can offset some of this in workforce-oriented leasing.
Demographics are aggregated within a 3-mile radius: recent years show stable population with modest household growth and shrinking household sizes, and WDSuite’s outlook points to further population growth and a larger household count by 2028. For investors, more households and smaller average household sizes typically expand the renter pool and can support steady absorption of renovated units.
Safety trends are broadly in line with regional and national benchmarks. The neighborhood’s crime rank sits competitive among Charlotte-Concord-Gastonia neighborhoods (270 of 709), and national comparisons generally track near the middle of the pack, according to WDSuite.
Recent directionality is mixed: estimated violent offense rates have eased year over year, while property offense estimates ticked up. For investors, this suggests routine risk management and property-level security practices remain appropriate, with monitoring of neighborhood trends alongside metro-wide patterns.
Regional employment anchors within commuting range support workforce housing demand and leasing durability, notably across corporate offices in food distribution, retail, pharmaceuticals, and financial services listed below.
- Sysco — corporate offices (19.9 miles)
- Lowe's — corporate offices (21.3 miles) — HQ
- Merck — corporate offices (28.3 miles)
- BB&T Corp. — corporate offices (31.9 miles) — HQ
- Reynolds American — corporate offices (32.2 miles) — HQ
This 100-unit, 1998-vintage property offers a practical balance of demand depth and operating resiliency. Neighborhood occupancy trends hover near national norms, while a high share of renter-occupied housing underpins the tenant base and supports leasing durability. Everyday retail access is serviceable, and lower home values relative to national levels, paired with a higher value-to-income ratio, indicate that ownership remains comparatively costly versus local incomes—conditions that can sustain reliance on rentals and aid retention. Based on CRE market data from WDSuite, neighborhood rents sit around metro medians, supporting defensible underwriting rather than growth-dependent assumptions.
The 1998 construction provides competitive positioning versus older product while leaving room for modernization of interiors and select building systems to capture value-add upside. Within a 3-mile radius, demographic signals point to population growth, an increase in households, and smaller household sizes through 2028—factors that can expand the renter pool and support occupancy stability for renovated units. Risks to underwrite include below-average school ratings and uneven amenity depth, which place a premium on property-level features and professional management.
- High renter-occupied share supports a broad tenant base and steadier occupancy
- 1998 vintage with potential value-add through targeted modernization
- Ownership costs relative to income reinforce multifamily demand and lease retention
- 3-mile demographics indicate population growth and more households, supporting absorption
- Risks: below-average school ratings and limited parks/cafes require strong asset-level amenities and management