| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 38th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5 Birch Pond Dr, Shallotte, NC, 28470, US |
| Region / Metro | Shallotte |
| Year of Construction | 2003 |
| Units | 104 |
| Transaction Date | 2013-12-01 |
| Transaction Price | $5,950,000 |
| Buyer | Birch Pond NC, LLC |
| Seller | Birch Pond Apartments, LLC |
5 Birch Pond Dr, Shallotte NC 104-Unit Multifamily
Household and population growth in the surrounding area point to a widening tenant base, while neighborhood-level occupancy trends will require attentive leasing and operations, according to WDSuite’s CRE market data.
Shallotte sits within the Myrtle Beach–Conway–North Myrtle Beach metro and this rural neighborhood scores as C+ overall. Amenity access is mixed: grocery and pharmacy availability trend above many peers (both around the middle of national comparisons), while parks and cafes are sparse—typical for lower-density locations. Within the metro’s 161 neighborhoods, amenity access ranks 39th, which is competitive among Myrtle Beach–Conway–North Myrtle Beach neighborhoods, but nationally the amenity profile lands below the median.
Neighborhood rent levels track near the national midpoint, with five-year rent growth showing steady upward movement. Median home values are lower than many U.S. areas, yet home prices relative to incomes trend in the higher national percentiles, indicating a high-cost ownership market locally that can sustain renter reliance on multifamily housing and support lease retention.
Renter concentration at the neighborhood level is moderate, and in the 3-mile radius around the property, roughly one-quarter of housing units are renter-occupied. For investors, this suggests a workable depth of demand without oversaturation, though it places a premium on product differentiation and property management to win share.
Demographic statistics aggregated within a 3-mile radius indicate meaningful growth: population and households expanded over the last five years and are projected to continue rising through 2028. This expansion points to a larger tenant base and supports occupancy stability over time, provided supply additions remain measured. Neighborhood occupancy has trended upward over the past five years but still trails stronger sub-areas in the metro, reinforcing the need for active leasing and renewal strategies.
Comparable crime data for this specific neighborhood are not available in WDSuite for recent periods. Investors typically benchmark local safety using town and county reporting and by comparing trends to metro and national context. As with any submarket, underwriting should reflect property-level security measures and observed conditions rather than block-level assumptions.
Built in 2003, this 104-unit property offers relatively newer-vintage multifamily in a rural Brunswick County setting, positioning it well against older stock while leaving room for targeted modernization and systems upkeep. Within a 3-mile radius, recent and forecast gains in population and households point to renter pool expansion, while neighborhood-level rents sit near national medians—supportive of demand without overextending affordability. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years but remains below stronger metro pockets, suggesting value creation via focused leasing, renewals, and product positioning.
Ownership costs in the area are elevated relative to incomes on a national basis, which can reinforce reliance on rental housing and support retention, even as amenities are thinner than urban cores. The property’s scale and average unit size around 823 sf suit workforce and downsizer demand profiles; execution will hinge on asset management, modest capital planning, and branding to capture share as the local renter base grows.
- 2003 vintage provides competitive positioning versus older stock, with manageable modernization needs
- 3-mile radius shows strong recent and projected growth in population and households, expanding the tenant base
- Rent levels near national midpoints support leasing without excessive affordability pressure, aiding retention
- Elevated ownership costs relative to incomes reinforce multifamily demand and lease stability
- Risk: neighborhood occupancy trails stronger metro sub-areas—performance depends on proactive leasing and renewal strategy