| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 25th | Poor |
| Amenities | 5th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 408 Whiteville Rd NW, Shallotte, NC, 28470, US |
| Region / Metro | Shallotte |
| Year of Construction | 1983 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
408 Whiteville Rd NW Shallotte Multifamily Investment
Renter demand is supported by household and income growth within a 3-mile radius, according to WDSuite s CRE market data, while ownership costs in the area tend to sustain reliance on rentals. Neighborhood occupancy trends warrant careful lease-up planning, but rising household formation points to a deepening tenant base over the medium term.
Shallotte s immediate neighborhood is classified as Rural and ranks below the metro median (146th of 161 Myrtle Beach Conway North Myrtle Beach neighborhoods), signaling a quieter setting with modest in-neighborhood services. Amenities score in the lower deciles nationally, so residents typically rely on short drives for daily needs, which investors should factor into marketing and retention strategies.
Neighborhood occupancy is weaker than many metro peers, indicating potential lease-up and renewal risk; however, demographics aggregated within a 3-mile radius show multi-year population growth alongside a notable increase in households and a gradual shift toward smaller household sizes. For multifamily owners, that combination generally supports a larger tenant base and can help stabilize occupancy as new renters enter the market.
Schools average around mid-tier performance and sit above the national median, which can aid family-oriented retention even in a lower-amenity context. Home values place the area among higher-cost ownership markets relative to local incomes (top decile nationally for value-to-income), which tends to reinforce multifamily demand and supports pricing power where rent-to-income remains manageable.
Tenure data point to an owner-heavy neighborhood with renter-occupied units comprising a smaller share locally; paired with 3-mile household and income growth, that suggests a targeted renter audience rather than mass-market depth. Investors may find the most traction with workforce renters and downsizing households seeking more accessible rental options than ownership.
Comparable neighborhood crime estimates are not available in WDSuite for this location, so investors typically benchmark safety perceptions against county and metro trends and evaluate property-level measures (lighting, access control, visibility). Without consistent rank or percentile data, it s prudent to underwrite conservatively and validate conditions with local property managers and public records.
Regional employment is diversified and largely commuter-driven, with proximity to industrial and manufacturing roles that can support workforce housing demand. Notable employers within driving distance include:
- Corning Optical Fiber Wilmington manufacturing (36.0 miles)
This 1983-vintage asset presents value-add and capital planning potential while tapping into an expanding renter pool within a 3-mile radius. Based on CRE market data from WDSuite, household and income growth are outpacing in-neighborhood amenity expansion, suggesting steady demand from renters prioritizing practicality over proximity to retail. A higher-cost ownership landscape relative to local incomes supports reliance on rentals, while neighborhood occupancy trends argue for conservative lease-up assumptions and disciplined renewal management.
The investment case centers on capturing demand from workforce households and downsizers, with scope to enhance competitiveness through targeted renovations, efficiency upgrades, and tenant-experience improvements that reduce turnover. Given the rural context and thinner in-neighborhood services, emphasizing convenience, parking, and maintenance responsiveness can bolster retention and stabilize cash flow.
- 3-mile renter pool expansion and rising incomes support demand and occupancy stability
- 1983 vintage offers value-add potential via interior updates and system modernization
- Ownership costs relative to incomes reinforce reliance on multifamily housing
- Rural setting with limited amenities favors operational focus on convenience and service
- Risk: below-metro occupancy at the neighborhood level requires conservative underwriting and active lease management