| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Fair |
| Demographics | 24th | Fair |
| Amenities | 20th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 303 Pecan St, Bladenboro, NC, 28320, US |
| Region / Metro | Bladenboro |
| Year of Construction | 1981 |
| Units | 63 |
| Transaction Date | 2024-03-28 |
| Transaction Price | $1,800,000 |
| Buyer | DTA VILLAGE OAKS I LLC |
| Seller | BKU ASSOCIATES |
303 Pecan St Bladenboro Multifamily Investment Opportunity
Neighborhood data points to a renter base that skews higher than the metro median, supporting demand at modest price points, according to WDSuite’s CRE market data. For investors, the focus is steady workforce housing dynamics in a rural setting rather than rapid growth.
Bladenboro is a rural neighborhood where daily needs are reasonably served by essentials rather than lifestyle retail. Within the Bladen County metro set (26 neighborhoods), this area ranks competitively for grocery and pharmacy access (ranked 2 of 26 on both), yet cafes, restaurants, and parks are sparse by national standards. This mix favors practical livability for workforce renters but limits amenity-driven leasing appeal, based on commercial real estate analysis from WDSuite.
Neighborhood housing patterns indicate a meaningful renter-occupied share (ranked 6 of 26 locally and above many U.S. neighborhoods), which supports depth of tenant demand for multifamily. At the same time, overall neighborhood occupancy trends sit below the metro median and well below national norms, signaling a leasing environment where active management and careful renewal strategies matter to sustain stability.
The property’s 1981 vintage is newer than the neighborhood’s average construction year of 1974. That positioning can help relative competitiveness versus older stock, though investors should plan for aging systems and targeted modernization to protect NOI and support leasing.
Home values in the neighborhood are low compared with most U.S. areas, which can make ownership more accessible and create competition for renters. For multifamily owners, this typically means emphasizing value, convenience, and well-maintained units to support retention and pricing discipline. Average school ratings in the area trend below national norms, which may influence family-oriented demand but is less central for value-focused workforce housing.
Comparable neighborhood crime statistics were not available in WDSuite’s dataset for this location. Investors often supplement with town and county trend reviews to benchmark safety perceptions and align operating assumptions with local norms.
This 63-unit, 1981 asset offers straightforward workforce housing exposure in a rural North Carolina neighborhood with practical essentials and a renter concentration that is higher than most local peers. While neighborhood occupancy trends are softer than metro and national norms, the combination of modest rents and stable day-to-day conveniences can support leasing with attentive operations. According to CRE market data from WDSuite, the area’s amenity profile leans toward grocery and pharmacy access rather than lifestyle retail, reinforcing a value-oriented tenant base.
Investor focus centers on disciplined marketing and renewal management to offset lower neighborhood occupancy, along with selective capital investment to refresh an early-1980s vintage. Low ownership costs in the area suggest competition from entry-level homebuying; positioning on quality, convenience, and service can help sustain tenant retention and rent collections.
- Renter concentration above metro median supports a workable tenant base for multifamily
- Essentials-focused amenity access (grocery, pharmacy) fits workforce housing demand
- 1981 vintage allows value-add through system upgrades and targeted unit improvements
- Active leasing and renewal strategy advised given neighborhood occupancy below metro norms
- Potential competition from accessible homeownership is a key underwriting consideration