| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 36th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 201 Luke St, Edenton, NC, 27932, US |
| Region / Metro | Edenton |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
201 Luke St, Edenton NC Multifamily Investment
Neighborhood data points to steady renter demand supported by a higher renter-occupied share and a high-cost ownership landscape, according to WDSuite s CRE market data. The primary investor takeaway is durable tenant depth even as neighborhood occupancy trends warrant close monitoring.
Located in Edenton s Inner Suburb, the neighborhood ranks 1 out of 9 metro neighborhoods for overall rating and offers a concentrated amenity base including groceries, pharmacies, parks, and dining that is competitive among Chowan County areas. Amenity access also scores above national medians, reinforcing daily convenience that can support tenant retention and leasing velocity.
Renter concentration is elevated (ranked 1 of 9 metro neighborhoods), signaling a deep pool of renter-occupied units that can support multifamily demand. By contrast, the neighborhood s occupancy rate is lower (ranked 9 of 9), a dynamic investors should underwrite carefully; this figure reflects the neighborhood broadly, not the property, and suggests focused leasing and asset management will be important.
Home values sit above the national midpoint while value-to-income metrics rank 1 of 9 locally and are in a high national percentile, indicating a high-cost ownership market relative to local incomes. That backdrop typically sustains renter reliance on multifamily housing and can aid pricing power, while still requiring attention to rent-to-income levels for lease management. Median asking rents in the neighborhood are low by national standards and have trended down over five years, which may support absorption but could temper near-term rent growth expectations.
Within a 3-mile radius, population has been broadly stable with small shifts in household size, pointing to a steady tenant base rather than rapid expansion. Average school ratings track below national norms, which may influence unit mix strategy and marketing. The submarket s average construction vintage skews older than this asset the property was built in 1985 positioning it as newer than much of the nearby stock; investors should still plan for aging systems and targeted modernization to enhance competitiveness. These dynamics align with practical commercial real estate analysis focused on retention and value-add execution.
Neighborhood-level crime metrics are not available in the provided dataset, so a precise comparison to Chowan County s 9 neighborhoods or national percentiles cannot be stated here. Investors typically supplement property diligence with current municipal and county public safety sources to gauge recent trends and any directional changes around the asset s immediate blocks.
This 48-unit property s 1985 vintage is newer than much of the surrounding neighborhood stock, offering a platform for targeted renovations to improve competitiveness versus older assets. Renter-occupied share is high (ranked 1 of 9 neighborhoods), and the ownership market s higher cost relative to incomes supports multifamily demand depth and potential lease retention. At the same time, neighborhood occupancy trends are soft (ranked 9 of 9), so underwriting should emphasize leasing execution and operational discipline. Based on CRE market data from WDSuite, amenity access is strong locally, which can aid day-to-day livability and renewal prospects.
Taken together, the investment case centers on dependable renter demand in a small market with strong convenience amenities, balanced against softer neighborhood occupancy and lower school ratings. Value-add scope around interiors and systems can be paired with hands-on management to drive stability and capture incremental rent where justified by finishes and service quality.
- Newer-than-neighborhood vintage (1985) with clear value-add and modernization pathways
- Elevated renter-occupied share (1 of 9) supports tenant depth and leasing velocity
- Strong local amenities bolster livability and renewal potential
- High-cost ownership relative to incomes reinforces reliance on rentals and potential pricing power
- Risks: softer neighborhood occupancy (9 of 9) and below-average school ratings warrant conservative underwriting and active asset management