| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 60th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3803 Guardian Ave, Morehead City, NC, 28557, US |
| Region / Metro | Morehead City |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3803 Guardian Ave, Morehead City NC Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by a high renter-occupied share and small household sizes, according to WDSuite’s CRE market data. With ownership costs elevated locally, the asset’s unit mix can compete on access and value while management focuses on occupancy stability.
The immediate neighborhood rates "A" (ranked 3 of 28 metro neighborhoods), placing it in the top quartile locally for overall livability and investment appeal based on CRE market data from WDSuite. Daily-needs access is a clear strength: groceries and pharmacies rank 1st of 28, and restaurants rank 2nd, signaling convenience that can support tenant retention.
Schools average roughly 3.5 out of 5 and sit in the 73rd percentile nationally, which is competitive among Morehead City neighborhoods and can aid leasing to households seeking stable public school options. Parks access is also favorable relative to metro peers, adding to quality-of-life drivers that often correlate with longer tenures.
Renter-occupied housing accounts for a relatively high share of neighborhood units (ranked 2 of 28; high national percentile), indicating depth in the tenant pool. Neighborhood occupancy is currently in the mid-70s and has softened over the past five years, suggesting operators should emphasize leasing and renewal strategies to maintain stability.
Within a 3-mile radius, recent years show a small decline in population but a modest increase in total households, alongside shrinking average household size. Forecasts point to growth in both households and incomes by 2028, implying a larger tenant base and stronger spending power, which can support rent levels and reduce downtime when units turn.
Home values sit above many national peers and the value-to-income ratio ranks 4th of 28 locally (92nd percentile nationally). This high-cost ownership market tends to reinforce reliance on multifamily housing, supporting pricing power for well-managed properties while still requiring attention to rent-to-income thresholds for retention.
Neighborhood-level crime metrics are not available in WDSuite for this location at this time. Investors typically benchmark property operations against city and county trends, evaluate lighting and access control, and review historical incident reporting with management to gauge risk relative to broader Morehead City conditions.
WDSuite does not list verified anchor employers with measured distances for this address. Investors may supplement with local due diligence on commute patterns and sector mix to assess workforce-driven renter demand.
Built in 1984, the 24-unit property offers micro-sized apartments that align with the neighborhood’s small household sizes and above-average renter concentration. Strong daily-needs access (top-ranked groceries and pharmacies, competitive restaurant density) and a high-cost ownership environment support renter demand; according to CRE market data from WDSuite, these fundamentals are consistent with sustained leasing potential even as operators focus on occupancy execution.
The 1980s vintage suggests planning for ongoing system upgrades and targeted renovations—creating value-add potential to improve competitiveness versus older stock. Within a 3-mile radius, households are projected to grow and average household size to decline, expanding the renter pool for efficiently sized units and supporting occupancy stability over the medium term.
- High renter-occupied share and small household sizes support demand for compact units
- Daily-needs access (top-ranked groceries/pharmacies) aids retention and leasing velocity
- High-cost ownership market reinforces multifamily reliance and pricing power
- 1984 vintage offers value-add via system upgrades and selective renovations
- Risk: neighborhood occupancy in the mid-70s requires active lease management