| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 46th | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1313 N 6th St, Albemarle, NC, 28001, US |
| Region / Metro | Albemarle |
| Year of Construction | 1972 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1313 N 6th St Albemarle NC Multifamily Opportunity
Neighborhood renter concentration ranks among the strongest locally, supporting demand even as occupancy runs softer for the area, according to WDSuite’s CRE market data.
Situated in an Inner Suburb pocket of Albemarle, the neighborhood is rated A and ranks in the top quartile among 33 metro neighborhoods, signaling favorable fundamentals for multifamily relative to the broader market. Neighborhood occupancy is reported at 79.4% (neighborhood metric, not the property), suggesting leasing conditions that reward competitive renovations, management, and pricing discipline.
Daily needs are well covered by essential services: grocery and pharmacy access test above many local peers, and restaurant density is competitive for the metro. Parks and cafes are limited nearby, so lifestyle appeal leans more practical than destination-driven. Average school ratings in this neighborhood trend below national norms, which may temper some family-driven demand but does not preclude steady leasing for workforce-oriented product.
Ownership costs in the neighborhood are elevated relative to local incomes (high value-to-income ratio), which typically sustains reliance on rental housing and supports depth of the tenant base. Neighborhood contract rents are lower than many national peers, and rent-to-income levels point to manageable affordability pressure—an advantage for retention and renewal strategies when paired with disciplined rent growth.
Within a 3-mile radius, recent data show a modest past population dip but projections indicate population growth and a meaningful increase in households alongside slightly smaller household sizes. For investors, that points to a larger renter pool over the medium term and steady demand for one- and two-bedroom formats. These dynamics, based on CRE market data from WDSuite, support a durable baseline for occupancy while allowing value-add execution to capture share.
Neighborhood-level crime statistics are not available in this release for precise comparison. Investors typically benchmark city and county trend lines against property-level measures such as lighting, access control, and visibility when underwriting. A review of recent trend data and on-the-ground observations is recommended to contextualize risk at the block level without over-relying on metro-wide averages.
Employment access is anchored by regional corporate offices within commuting range, supporting workforce housing demand and lease retention. Nearby nodes include Sysco, Merck, and several Charlotte-based headquarters such as Sonic Automotive, Bank of America, and Duke Energy.
- Sysco — corporate offices (26.2 miles)
- Merck — corporate offices (32.5 miles)
- Sonic Automotive — corporate offices (36.6 miles) — HQ
- Bank of America Corp. — corporate offices (38.0 miles) — HQ
- Duke Energy — corporate offices (38.4 miles) — HQ
1313 N 6th St is a 43-unit, 1972-vintage asset in an A-rated Inner Suburb neighborhood where renter-occupied share is among the highest in the metro. The vintage is newer than the neighborhood’s older housing stock, which can offer a relative edge versus pre-1960s buildings, though investors should still plan for modernization of systems and common areas to strengthen competitive positioning. Neighborhood occupancy runs softer, but practical amenity access and a high-cost ownership landscape support multifamily demand and renewal potential.
Within a 3-mile radius, projections indicate population growth, more households, and slightly smaller household sizes—conditions that expand the renter pool and support occupancy stability over time. According to CRE market data from WDSuite, local rent levels and rent-to-income dynamics favor disciplined lease management and steady value-add execution rather than aggressive near-term pricing.
- Strong neighborhood standing (top quartile locally) with high renter concentration supporting tenant demand
- 1972 vintage offers competitive footing versus older stock, with clear modernization/value-add levers
- Practical amenity access and regional employment nodes within commuting range bolster leasing
- Demographic outlook within 3 miles points to a larger renter base and support for occupancy
- Risk: softer neighborhood occupancy and lower school ratings require active management and targeted positioning