| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 31st | Poor |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 315 Ashbrook Rd, Salisbury, NC, 28147, US |
| Region / Metro | Salisbury |
| Year of Construction | 1972 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
315 Ashbrook Rd Salisbury Multifamily Investment Opportunity
Positioned in a renter-leaning suburban pocket of Salisbury, the neighborhood shows occupancy in the low-90s with a modest five-year uptick, according to WDSuite’s CRE market data. This points to steady tenant demand at attainable rent levels relative to local incomes, with conditions measured at the neighborhood—not property—level.
Salisbury’s suburban setting offers everyday convenience more than urban walkability. Neighborhood amenities skew toward essentials, with grocery access roughly around the metro middle and limited cafes, parks, and pharmacies. Average school ratings trend on the lower side for the area, which investors should factor into unit mix positioning and leasing strategies aimed at value-conscious renters.
Rents in the neighborhood sit near the national midpoint and have risen over the past five years, while the neighborhood’s occupancy rate is around the national median—signals that support consistent leasing without relying on premium pricing. The share of housing units that are renter-occupied is high for the Charlotte-Concord-Gastonia metro—competitive among 709 metro neighborhoods and in the top quartile nationally—indicating a deep tenant base for multifamily assets.
Within a 3-mile radius, demographic data show a slight population dip recently but a small increase in households, suggesting smaller household sizes and stable rental need. Forecasts point to meaningful growth in population and households by 2028, which would expand the renter pool and support occupancy stability. Median household income in the 3-mile radius has improved over recent years, and neighborhood rent-to-income ratios indicate manageable affordability pressure—favorable for lease retention and measured rent growth.
Home values in the neighborhood are below many high-cost U.S. markets, but the value-to-income ratio sits elevated versus national norms, reinforcing sustained reliance on rental housing. For investors, that context can underpin steady demand for well-maintained, competitively priced units and reduce exposure to rapid move-outs into ownership.
Neighborhood safety benchmarks land near the national middle overall, with violent incidents tracking somewhat less favorable than median and property crime comparatively closer to the better end. Year over year, violent incident rates have eased, according to WDSuite’s CRE market data, while property crime has been relatively stable—signals consistent with gradual improvement rather than step-change.
Within the Charlotte-Concord-Gastonia metro, the neighborhood’s safety profile is competitive among 709 metro neighborhoods, though results vary by offense type. Investors should underwrite standard security measures and resident engagement practices, and monitor trends at the neighborhood level rather than block-by-block conclusions.
The area draws on a broad employment base across logistics, home improvement, pharmaceuticals, and finance, which supports commuter convenience and workforce renter demand. Nearby anchors include Sysco, Lowe’s, Merck, BB&T Corp., and Reynolds American.
- Sysco — food distribution (20.3 miles)
- Lowe's — home improvement HQ & corporate (21.3 miles) — HQ
- Merck — pharmaceuticals (28.6 miles)
- BB&T Corp. — banking (31.6 miles) — HQ
- Reynolds American — consumer goods (31.9 miles) — HQ
315 Ashbrook Rd is a 61-unit, 1972-vintage multifamily asset positioned in a renter-heavy Salisbury neighborhood where occupancy has stayed around the national midpoint and trended modestly higher over five years. The submarket’s rent levels align with value-oriented demand, and a high neighborhood renter concentration signals depth in the tenant base. Within a 3-mile radius, households have inched up even as population edged lower, and forecasts point to notable growth by 2028—supporting a larger renter pool and steady leasing. Based on commercial real estate analysis from WDSuite, rent-to-income dynamics suggest manageable affordability pressure that can aid retention and disciplined rent steps.
The 1972 construction implies practical capital planning: systems modernization and targeted interior updates can enhance competitiveness versus older stock while capturing value-add upside if executed efficiently. Local amenities are serviceable but not walkable, and school ratings trail area averages—factors to price and program accordingly. Overall, the property’s mid-market positioning, renter demand depth, and value-add potential present a pragmatic long-term hold case with measured risk management.
- Renter-heavy neighborhood supports a deep tenant base and occupancy stability.
- Value-oriented rent positioning with manageable rent-to-income ratios aids retention.
- 1972 vintage offers clear value-add pathways through systems and interior upgrades.
- 3-mile forecasts indicate expanding population and households, enlarging the renter pool.
- Risks: limited walkable amenities, below-average school ratings, and capex typical of older assets.