| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Good |
| Demographics | 62nd | Good |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 107 Carraway Dr, Beaufort, NC, 28516, US |
| Region / Metro | Beaufort |
| Year of Construction | 1986 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
107 Carraway Dr Beaufort NC Multifamily Investment
Renter concentration is higher than most of the metro while ownership costs remain elevated relative to local incomes, according to WDSuite’s CRE market data. Built in 1986, the asset offers practical value‑add levers alongside steady neighborhood occupancy dynamics.
The property sits in a suburban pocket of Beaufort within the Morehead City, NC metro, where the neighborhood is rated B- and ranks 14 out of 28 metro neighborhoods. Neighborhood occupancy is above the metro median (rank 10 of 28) but trails national performance, suggesting stable day-to-day leasing with some sensitivity to broader demand cycles. A comparatively high renter-occupied share (rank 3 of 28; national percentile 76) indicates a deeper tenant base for small and mid-size multifamily.
Livability skew is practical rather than lifestyle-oriented. Dining, cafes, and parks are sparse locally, but everyday services are accessible, with pharmacy access competitive (around the 67th percentile nationally) and grocery options in line with many suburban nodes. Average school ratings are competitive among Morehead City neighborhoods (rank 6 of 28; top quartile), which can support retention for family households.
Ownership costs in the neighborhood have risen faster than incomes over the past five years, and the value-to-income ratio sits in a high national percentile, reinforcing reliance on rental options and supporting pricing power when units are well-renovated. At the same time, rent-to-income levels are moderate (about 0.14), which helps manage affordability pressure and supports renewal odds if rent growth is paced.
Demographic statistics aggregated within a 3-mile radius show a slightly older-leaning population and smaller household sizes, with recent softness in population but projections for population growth and a notable increase in households over the next five years. That combination typically expands the tenant base for right-sized units and supports occupancy stability, though a potential tilt toward ownership in forecasts suggests monitoring competitive pressures from for-sale housing.
WDSuite does not report comparable crime metrics for this neighborhood in the current release. Investors should evaluate safety in relative terms using city and county trend data and property-level measures, recognizing that neighborhood safety can vary within small areas.
Employer proximity data with verified distances is not available from WDSuite for this address in the current release. Multifamily demand in this part of Carteret County is typically supported by a mix of healthcare, marine, tourism, and public sector employment, which tend to favor workforce housing and commute convenience.
This 25-unit asset, built in 1986, presents a straightforward value-add or modernization thesis: vintage implies selective capital planning (exteriors, interiors, and systems) to sharpen competitiveness against newer stock. Neighborhood performance is above the metro median on occupancy, and a higher renter-occupied share supports depth of demand. According to CRE market data from WDSuite, elevated ownership costs relative to incomes in the immediate neighborhood reinforce renter reliance on multifamily housing, while rent-to-income levels remain manageable for renewal strategies.
Within a 3-mile radius, projections indicate population growth and a meaningful increase in households, expanding the local renter pool and supporting leasing consistency. Livability is service-oriented rather than amenity-rich, but competitive school ratings and everyday services help with retention. Key risks include limited lifestyle amenities and exposure to broader demand cycles given occupancy that trails national benchmarks, along with the need to execute renovations efficiently given the 1986 vintage.
- 1986 vintage supports a targeted value‑add plan to lift rents and retention
- Above-metro-median neighborhood occupancy with strong renter concentration
- Elevated ownership costs sustain multifamily demand; rent-to-income remains moderate
- 3-mile outlook points to population and household growth, enlarging the tenant base
- Risks: amenity-light location, occupancy below national norms, and renovation execution