| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 37th | Poor |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 220 Shipman Rd, Havelock, NC, 28532, US |
| Region / Metro | Havelock |
| Year of Construction | 1980 |
| Units | 26 |
| Transaction Date | 2000-11-01 |
| Transaction Price | $776,500 |
| Buyer | HAVELOCK HILL LLC |
| Seller | HAVELOCK HILL LTD PARTNERSHIP |
220 Shipman Rd Havelock Multifamily Investment
Neighborhood data points to a durable renter base and mid-cycle occupancy, according to WDSuite’s CRE market data, suggesting operational upside for a well-managed asset.
Competitive among New Bern neighborhoods (12 of 58), this suburban area offers everyday conveniences with moderate grocery and pharmacy access and limited café density. Average school ratings sit around the national middle, which supports stable family demand without commanding premium pricing.
Rents track near the regional mid-range and neighborhood occupancy trends have softened from earlier levels, indicating room for operational improvement. Home values are lower than many coastal North Carolina markets, which can introduce some competition from ownership; however, this typically sustains a broad workforce renter pool and supports lease retention for well-positioned properties.
Within a 3-mile radius, demographics show a larger share of adults in prime renting years and a recent decline in population alongside a smaller drop in households. Projections indicate smaller household sizes and a potential increase in household counts, which can expand the tenant base even as headcount shifts. For investors, this mix points to steady demand for multifamily units near employment and services, informed by WDSuite’s multifamily property research.
Tenure measures indicate a meaningful concentration of renter-occupied housing within the immediate 3-mile area, reinforcing depth of the tenant pool and supporting day-to-day leasing activity and renewal prospects.
Safety patterns are mixed. Relative to the 58 neighborhoods in the New Bern metro, this area trends toward the higher-crime end. At the same time, national comparisons indicate above‑average safety, with stronger standing for lower violent and property offenses versus many neighborhoods nationwide. Recent year-over-year movement shows declines in property offenses but an uptick in reported violent incidents, underscoring the importance of active property-level security and resident engagement.
This 26‑unit asset sits in a competitive New Bern–area neighborhood with mid-range rent positioning and a sizable renter pool. Neighborhood occupancy has eased, but according to WDSuite’s commercial real estate analysis, the area maintains sufficient renter demand to support stabilization for properties with focused operations and resident retention strategies.
Demographic indicators within a 3-mile radius point to a sustained workforce presence and potential growth in household counts even as population trends normalize, which can broaden the renter base. Ownership costs are comparatively accessible for the region, which may constrain top-end rent growth but also supports steady leasing for well-run, value-oriented communities.
- Competitive neighborhood within New Bern supports ongoing renter demand and leasing stability.
- Mid-range rents with room for operational outperformance as occupancy normalizes.
- 3-mile demographics suggest a broad workforce tenant base and potential renter pool expansion as household sizes trend smaller.
- Accessible ownership costs in the area can cap pricing power at peaks but support steady retention for value-focused assets.
- Execution risk: softening neighborhood occupancy and mixed safety trends require disciplined leasing, marketing, and security practices.