| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 46th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 317 Ardsley Dr, Locust, NC, 28097, US |
| Region / Metro | Locust |
| Year of Construction | 2012 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
317 Ardsley Dr Locust NC Multifamily Investment
Neighborhood occupancy has held around the metro median and ownership costs are comparatively elevated, supporting steady renter demand according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions, not this specific property.
Locust sits within the Albemarle, NC metro and this neighborhood is top-ranked among 33 metro neighborhoods (A+ rating), indicating competitive fundamentals relative to local peers. Amenity access is serviceable for a suburban area, with grocery, pharmacy, and dining density measuring above many U.S. neighborhoods while formal park access is limited.
Rent levels in the neighborhood track below national medians but have shown notable growth over the past five years, while occupancy trends sit near the metro middle. For investors, that combination points to a renter base that can sustain leasing with disciplined pricing and asset management, rather than relying on outsized rent pushes.
Within a 3-mile radius, population and household counts have expanded meaningfully in recent years and are projected to continue growing, which supports a larger tenant base and lease-up stability. The share of renter-occupied housing is lower than in many metros today but is expected to edge higher, suggesting gradual deepening of the renter pool as households form and migrate.
Home values in the neighborhood are elevated relative to local incomes (high national percentile for value-to-income), reinforcing reliance on multifamily housing and supporting retention for well-managed assets. Given limited park space, on-site amenities and access to everyday retail and services can be differentiators for renter appeal.
Standardized crime metrics for this neighborhood were not available in WDSuite’s dataset at the time of publication. Investors typically benchmark submarket safety by comparing neighborhood trends with metro and national context and by reviewing owner operating history, insurance feedback, and local comparables.
Proximity to major corporate offices in the Charlotte region underpins commuter demand and leasing stability, with a mix of food distribution, life sciences, and Fortune 500 headquarters accessible within typical driving ranges. Employers highlighted below reflect the primary commuter draws for this area.
- Sysco — food distribution (16.7 miles)
- Merck — life sciences manufacturing/offices (19.3 miles)
- Sonic Automotive — automotive retail corporate offices (21.3 miles) — HQ
- Bank of America Corp. — banking corporate offices (23.1 miles) — HQ
- Duke Energy — utilities corporate offices (23.5 miles) — HQ
Built in 2012, this 25-unit asset is newer than much of the surrounding stock, which can enhance competitive positioning versus older properties and temper near-term capital needs, while still allowing selective value-add or modernization to capture rent premiums. Neighborhood fundamentals show occupancy near the metro median and rent levels that have grown from a relatively accessible base, supporting stable leasing rather than aggressive rate-taking.
Population and households within a 3-mile radius have expanded and are projected to continue growing, pointing to renter pool expansion and support for occupancy stability. At the same time, the neighborhood’s high value-to-income relationship indicates a high-cost ownership market that reinforces reliance on rentals. According to CRE market data from WDSuite, amenity access is solid for daily needs, though limited park space puts a premium on property-level features and management.
- 2012 vintage offers competitive positioning and moderated near-term capex with targeted value-add potential
- Expanding 3-mile population and households support a larger tenant base and leasing durability
- Elevated ownership costs versus incomes bolster multifamily demand and retention
- Amenity access to groceries, pharmacies, and dining supports day-to-day livability for residents
- Risk: renter concentration is relatively low today and occupancy is around the metro median, requiring disciplined leasing and asset management