| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 69th | Best |
| Amenities | 19th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 725 Dr Martin Luther King Jr Ave, Edenton, NC, 27932, US |
| Region / Metro | Edenton |
| Year of Construction | 1978 |
| Units | 51 |
| Transaction Date | 2005-10-27 |
| Transaction Price | $640,000 |
| Buyer | CHOWAN COURT II LLC |
| Seller | --- |
725 Dr Martin Luther King Jr Ave, Edenton NC Multifamily
Stabilized workforce demand in a rural A‑rated neighborhood supports durable tenancy, according to WDSuite’s commercial real estate analysis, with pricing power moderated by local ownership alternatives.
The property sits in a rural A‑rated neighborhood that ranks 2 out of 9 locally, indicating competitive positioning within the metro. Restaurants are accessible relative to peer neighborhoods (ranked 2 of 9), while national amenity density skews sparse, so daily convenience is more car‑oriented. Childcare access ranks near the top of the metro as well (2 of 9), adding stability for working households.
Neighborhood construction skews newer than the subject’s 1978 vintage (area average 1988). For investors, the earlier vintage can translate to value‑add through unit and system modernization and should be reflected in capital planning to stay competitive against the newer local stock.
Owner‑occupied housing is prevalent and renter concentration is modest (roughly one‑quarter of housing units are renter‑occupied). This points to a smaller but steady tenant base where leasing is supported by local employment and convenience, though effective marketing and retention practices are important to sustain occupancy.
According to CRE market data from WDSuite, the neighborhood’s occupancy rate trends below national midpoints but sits above the metro median (ranked 4 of 9). That mix suggests stable day‑to‑day operations with some sensitivity to product quality and pricing. Median home values and value‑to‑income are around national midpoints, which can temper rent growth but also support retention as renters weigh relatively accessible ownership options against the convenience of multifamily.
Neighborhood‑level crime metrics are not available in WDSuite for this location. Investors typically compare local trends to county and metro benchmarks and conduct property‑specific diligence (lighting, access control, and management practices) to understand safety performance relative to nearby areas.
Built in 1978 with 51 units, the asset is earlier‑vintage relative to nearby housing stock, creating practical value‑add and modernization upside. Based on CRE market data from WDSuite, neighborhood occupancy runs above the metro median but below national midpoints, indicating stable operations with room to outperform through targeted renovations and disciplined leasing.
Renter concentration is modest in this ownership‑leaning area, so demand is driven by workforce households and local services. Home values and income levels sit near national midpoints, which supports lease retention while limiting aggressive rent push; prudent pricing and amenity upgrades can help maintain occupancy and reduce turnover.
- Value‑add potential from a 1978 vintage versus newer neighborhood stock
- Above‑metro‑median occupancy supports operational stability with disciplined management
- Modest renter concentration implies steady but finite tenant base; targeted marketing and retention matter
- Mid‑market ownership costs favor retention but limit outsized rent growth
- Risk: Rural location with lean amenity base can slow lease‑up without product differentiation