| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 66th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 125 Odum St, Cedar Point, NC, 28584, US |
| Region / Metro | Cedar Point |
| Year of Construction | 2012 |
| Units | 22 |
| Transaction Date | 2004-05-05 |
| Transaction Price | $490,000 |
| Buyer | --- |
| Seller | --- |
125 Odum St, Cedar Point NC Multifamily Investment
Newer-vintage units in a suburban pocket where ownership costs are elevated relative to incomes, supporting steady renter demand according to WDSuite s CRE market data. Neighborhood renter concentration is modest, so underwriting should focus on retention and lease management over rapid lease-up.
The property sits in a suburban neighborhood rated A- and ranked 6th out of 28 neighborhoods in the Morehead City metro op quartile among metro peers suggesting solid local fundamentals for a small multifamily asset base. Grocery, pharmacy, and park access are present at moderate levels, while cafes and childcare options are limited, which tilts daily convenience more toward essentials than lifestyle.
Schools score well for the area, with the neighborhood s average school rating in the 84th percentile nationally, a supportive factor for family-oriented renters and longer tenancy horizons. Median home values sit in a higher national percentile, creating a relatively high-cost ownership market that can reinforce reliance on rental housing and support pricing power when renewals are managed carefully.
At the neighborhood level, reported housing occupancy trends below national norms; investors may want to assess any seasonal dynamics and the mix of owner-occupied versus rental units when projecting stabilization and renewals. Renter-occupied housing share in the neighborhood is on the lower side, which points to a narrower, but potentially stable, tenant base best served by disciplined marketing and retention tactics.
Within a 3-mile radius, population and household counts have grown in recent years, with additional gains in households projected, indicating a gradually expanding tenant pool over the medium term. Rising household incomes and forecast rent growth support the case for durable demand, though management should calibrate turnover strategies to local affordability conditions to protect occupancy.
Comparable safety metrics for this neighborhood were not available in WDSuite at the time of this analysis. Investors commonly benchmark neighborhood safety against metro and county trends; given the data gap, we recommend supplementing with local law enforcement reports and insurer data to understand directional patterns rather than relying on block-level snapshots.
Built in 2012, the property is newer than much of the local housing stock, offering competitive positioning versus older assets while leaving room for targeted modernization over the hold period. Based on CRE market data from WDSuite, the neighborhood ranks in the top quartile among Morehead City s 28 neighborhoods, and elevated ownership costs relative to incomes help sustain renter reliance on multifamily housing. The local renter share is modest, so execution hinges on retention, renewal management, and consistent leasing rather than aggressive lease-up assumptions.
Three-mile radius trends show recent population and household growth with further household expansion projected, supporting a steady pipeline of prospective renters. With schools testing well versus national peers and daily conveniences anchored by grocery, pharmacy, and parks, the area s livability profile can aid leasing stability for well-maintained, right-sized units.
- 2012 vintage offers competitive positioning versus older stock, with selective value-add potential.
- Neighborhood ranks top quartile among 28 metro areas, supporting investment-grade fundamentals.
- High-cost ownership market underpins renter demand and renewal pricing power.
- 3-mile population and household growth point to a gradually expanding tenant base.
- Risk: lower renter concentration and below-average reported occupancy call for conservative lease-up and strong retention practices.