| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 36th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 213 Tyler Ln, Edenton, NC, 27932, US |
| Region / Metro | Edenton |
| Year of Construction | 1975 |
| Units | 52 |
| Transaction Date | 2005-02-18 |
| Transaction Price | $900,000 |
| Buyer | TYLER RUN I LLC |
| Seller | --- |
213 Tyler Ln, Edenton NC Multifamily Investment
Stable renter demand is supported by a higher renter-occupied share in the neighborhood and ownership costs that skew high relative to local incomes, according to WDSuite’s CRE market data. Affordability for tenants appears manageable, which can aid retention even if leasing velocity requires active management.
The neighborhood surrounding 213 Tyler Ln is rated A and ranks 1 out of 9 neighborhoods in the metro, placing it in the top quartile locally. Amenity access is a relative strength: restaurants, groceries, parks, pharmacies, and cafes all rank 1 out of 9 metro neighborhoods with national percentiles broadly in the mid-60s to low-80s, indicating better-than-average convenience compared with many U.S. neighborhoods.
Housing dynamics show mixed signals for investors. Neighborhood occupancy trends are weaker (ranked 9 of 9 and low nationally), pointing to potential lease-up and renewal risk that may require hands-on operations and competitive positioning. Counterbalancing this, renter-occupied housing represents a larger share of units here (ranked 1 of 9 and high nationally), suggesting a relatively deep tenant base for multifamily assets.
Within a 3-mile radius, population growth has been essentially flat in recent years and median household incomes sit on the lower end for the nation. This combination may temper rent growth expectations, but it can also support steady demand for accessible rental options and encourage longer stays when rent-to-income remains manageable. The neighborhood’s median home values sit around the middle of the national distribution while the value-to-income ratio is high nationally, implying a high-cost ownership market relative to local earnings that can reinforce reliance on rentals and support lease retention.
Vintage context matters: the average neighborhood construction year skews older (1935), while this property was built in 1975. That relative youth versus nearby stock can be a competitive edge, though investors should still plan for modernization and system upgrades typical of 1970s-vintage assets to meet today’s renter expectations.
Comparable, neighborhood-level crime metrics were not available in WDSuite for this location. Investors typically benchmark property performance alongside county or metro trends and prioritize on-site security measures, lighting, and resident screening when neighborhood data is limited. Consider triangulating with multiple sources and evaluating time-of-day and seasonal patterns during due diligence.
This 52-unit, 1975-vintage asset sits in a metro-leading neighborhood for amenities yet faces softer occupancy at the neighborhood level. The renter-occupied share is comparatively high and ownership looks expensive relative to local incomes, which can support a durable tenant base and lease retention. According to CRE market data from WDSuite, neighborhood occupancy trends are below local peers, so active asset management and competitive positioning will be important to sustain performance.
Affordability for tenants appears workable given a low rent-to-income backdrop, which can help stabilize collections even if rent growth is measured. The property’s vintage is newer than much of the surrounding housing stock, offering a positioning advantage, while targeted renovations can further differentiate against older comparables.
- Strong amenity access and metro-leading neighborhood rank support renter appeal
- High renter-occupied share indicates a deeper tenant base for multifamily
- Ownership costs high relative to income reinforce reliance on rentals and retention
- 1975 vintage is newer than nearby stock, with value-add via modernization
- Risk: neighborhood occupancy is weaker, requiring proactive leasing and management