| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 37th | Poor |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 201 Shipman Rd, Havelock, NC, 28532, US |
| Region / Metro | Havelock |
| Year of Construction | 1980 |
| Units | 52 |
| Transaction Date | 2006-07-05 |
| Transaction Price | $160,000 |
| Buyer | HEDGECOCK CHAD FRANKLIN |
| Seller | JONES JONATHON REID |
201 Shipman Rd Havelock Multifamily Investment
Neighborhood renter concentration and middle-of-the-pack rents point to steady workforce demand, according to WDSuite’s CRE market data, with operators likely to focus on renewals and leasing discipline rather than outsized rent push.
The property sits in a suburban pocket of Havelock that is competitive among New Bern neighborhoods (12 of 58 by overall neighborhood rating), per WDSuite. Local amenities score above the metro median (amenities rank 6 of 58) and track near the national midpoint, giving residents everyday convenience without premium pricing pressure.
Renter-occupied housing accounts for a sizable share in the neighborhood (44.1% renter concentration; 4 of 58 in the metro and high nationally), supporting depth of the tenant base for multifamily. Median contract rents sit close to the national middle and have risen in recent years, suggesting room for disciplined growth while retaining price-sensitive renters.
Neighborhood occupancy is below typical stabilized levels, which implies operators should emphasize leasing execution and renewals to sustain cash flow. Average school ratings are around the national midpoint (rank 12 of 58 locally), which may help with retention among family renters, while access to childcare, parks, groceries, and pharmacies ranks competitively within the metro and roughly mid-pack nationally.
Within a 3-mile radius, demographics show smaller household sizes over time and a shift toward more households even as total population trends lower. This dynamic can expand the renter pool and support occupancy stability for well-managed properties. Home values are relatively modest versus national norms, which can introduce some competition from ownership options; for investors, that typically means focusing on service quality, convenience, and unit finishes to maintain pricing power.
Safety indicators benchmark favorably in a national context: the neighborhood scores in the top quartile nationally on both property and violent offense measures, according to WDSuite. At the same time, recent year-over-year data show mixed momentum, with property incidents easing while violent offense measures posted an uptick. For investors, the takeaway is a comparatively strong baseline with prudent attention to on-site security, lighting, and resident engagement.
This Havelock asset benefits from a renter-heavy neighborhood profile and median rents near national midpoints, creating a broad tenant base without luxury-tier volatility. Neighborhood occupancy trends point to the importance of active leasing and renewal management, while relatively modest local home values suggest operators should compete on convenience and finish quality to sustain retention. According to CRE market data from WDSuite, these location fundamentals align with steady, workforce-oriented demand rather than speculative growth.
Within a 3-mile radius, households are projected to increase even as population declines, reflecting smaller household sizes and the potential for additional renters entering the market. That backdrop supports measured rent growth and occupancy stability for well-managed properties, with attention to affordability, leasing execution, and resident experience.
- Renter-heavy area supports a deep tenant base and stable workforce demand
- Median rents near national midpoint enable disciplined growth with retention focus
- Household growth within 3 miles despite smaller household sizes supports leasing
- Competitive amenity access in the metro aids day-to-day livability and renewals
- Risks: below-stabilized neighborhood occupancy and mixed safety momentum require active management