| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 62nd | Good |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5339 Dosher Cutoff SE, Southport, NC, 28461, US |
| Region / Metro | Southport |
| Year of Construction | 1999 |
| Units | 26 |
| Transaction Date | 2020-10-13 |
| Transaction Price | $3,000,000 |
| Buyer | COASTAL VILLAS OWNER LLC |
| Seller | COASTAL VILLA PROJECT LLC |
5339 Dosher Cutoff SE, Southport NC Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by household growth within a 3-mile radius and a rent-to-income profile that suggests manageable affordability, according to WDSuite’s CRE market data. With 26 units built in 1999, the property offers mid-life systems and potential for targeted upgrades to strengthen occupancy and retention.
The Southport neighborhood scores in the top quartile among 161 metro neighborhoods (A- rating), indicating competitive positioning for long-term hold strategies. Local amenities are mixed: restaurants and cafes are present at modest densities relative to the metro, while parks are limited. For investors, this means the value proposition leans on convenience retail and services rather than destination amenities.
Renter concentration remains comparatively low at the neighborhood level, with a smaller share of housing units renter-occupied. Within a 3-mile radius, demographics show population and household growth, which can widen the tenant base and support occupancy stability for well-managed assets. A median contract rent at the neighborhood level that sits in a higher national percentile, paired with a rent-to-income ratio near mid-20s, points to affordability pressure that is present but manageable—conditions that can support lease retention with disciplined renewals and amenity-light operating models.
Ownership costs are moderate in context, and home values near the metro median can create some competition with entry-level ownership. For multifamily owners, this typically translates into steady—but not outsized—pricing power; operational focus should emphasize service consistency and selective upgrades to reduce turnover rather than rely solely on rent-led growth.
Vintage matters: the 1999 construction year suggests building systems are at a stage where modernization and value-add improvements (exteriors, unit interiors, and efficiency upgrades) can enhance competitiveness versus older local stock, while still avoiding the heavier capital profiles of much older assets.
Safety indicators present a nuanced picture. Compared with other neighborhoods in the Myrtle Beach–Conway–North Myrtle Beach metro, the area’s crime rank sits closer to the less favorable side; however, national comparisons trend better, with metrics that indicate an above-average safety profile versus neighborhoods nationwide. For investors, this suggests marketing should highlight broader regional context and daypart activity rather than block-level claims.
Recent trends are mixed: property-related incidents show signs of improvement year over year, while violent-offense measures have moved the other direction. Prudent operators typically address this with lighting, access controls, and resident-engagement practices to support resident satisfaction and retention without overcapitalizing on security infrastructure.
Commuting access connects residents to regional employers that can underpin leasing durability. Nearby advanced manufacturing is a relevant demand driver for workforce and skilled technician households.
- Corning Optical Fiber Wilmington — advanced manufacturing (22.7 miles)
This 26-unit, 1999-vintage asset in Southport benefits from a neighborhood that ranks in the top quartile among 161 metro neighborhoods, with steady household growth within a 3-mile radius supporting an expanding tenant base. According to CRE market data from WDSuite, neighborhood rents sit in a higher national percentile while rent-to-income levels indicate manageable affordability—conditions that can support retention for assets with consistent operations and measured upgrades.
Given moderate ownership costs in the area and a relatively low renter-occupied share, the investment case emphasizes capturing demand from growing households and aging-in-place residents through service quality and targeted value-add. Capital plans should prioritize system modernization and interior refreshes to enhance competitiveness and reduce turnover risk rather than rely on aggressive rent-led strategies.
- Top-quartile neighborhood positioning among 161 metro peers supports long-term relevance
- 3-mile population and household growth expand the renter pool and aid occupancy stability
- Rent levels with manageable rent-to-income dynamics support lease retention with disciplined renewals
- 1999 vintage offers value-add via system updates and interior improvements
- Risk: owner-leaning tenure and moderate ownership costs can temper pricing power; focus on operations and resident experience