| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 39th | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1425 Red Robin Ln, New Bern, NC, 28562, US |
| Region / Metro | New Bern |
| Year of Construction | 1986 |
| Units | 28 |
| Transaction Date | 2021-10-29 |
| Transaction Price | $3,300,000 |
| Buyer | EWT 61 LLC |
| Seller | DGT VENTURES LLC |
1425 Red Robin Ln New Bern Multifamily Investment
Neighborhood occupancy is competitive and trending up, supporting stable leasing dynamics, according to WDSuite’s CRE market data. The location’s steady renter demand and daily-needs access point to consistent performance potential with prudent asset management.
This suburban pocket of New Bern rates A within the metro and is competitive among New Bern neighborhoods (ranked 7 of 58), with neighborhood occupancy in the top quartile locally and a multi‑year uptick that supports income stability for professionally managed assets. Median contract rents in the neighborhood sit below many national peers, while the neighborhood rent‑to‑income profile suggests manageable affordability that can aid retention and measured pricing power.
Daily-needs access is a local strength: grocery and pharmacy density both rank near the top of the metro (each near the top three of 58 neighborhoods) and score in higher national percentiles. Cafes and restaurants are also above the metro median, adding convenience that supports renter satisfaction even without extensive destination amenities.
School quality averages around 3.0 out of 5 and ranks 7 of 58 locally, translating to above-metro performance and roughly top‑quartile positioning across New Bern. For investors, that combination of schools and everyday amenities tends to reinforce leasing velocity for workforce‑oriented product.
Vintage considerations: the property’s 1986 construction is older than the neighborhood’s average vintage (early 1990s). That typically implies capital planning for systems and interiors, but also creates value‑add potential to differentiate against older stock. Renter‑occupied share in the neighborhood is roughly one‑third of housing units, indicating a meaningful tenant base that supports multifamily absorption and renewals.
Demographic statistics within a 3‑mile radius show population and household growth over the past five years, with projections indicating further increases in households and smaller average household size by 2028. This points to a larger tenant base and sustained demand for rental units, a constructive backdrop for occupancy stability.
Home values in this part of New Bern are lower than many national markets, which can introduce some competition from entry‑level ownership. However, relatively accessible ownership costs alongside modest neighborhood rents can still support leasing depth, with management focus on amenities and finishes to preserve differentiation.
Safety indicators are mixed and should be evaluated in a metro and national context. Within the New Bern metro, the neighborhood’s crime rank is 3rd of 58, indicating higher reported incidents relative to local peers. Nationally, composite measures place the area above the midpoint (around the 62nd percentile), and property offense estimates are positioned in stronger national percentiles.
Recent trend signals are also nuanced: estimated property offenses declined year over year, while violent offense change showed an uptick. For investors, this calls for standard operating focus—lighting, access control, and resident screening—along with monitoring of submarket‑level trends rather than block‑by‑block assumptions.
The 28‑unit asset at 1425 Red Robin Ln benefits from a neighborhood that is competitive within the New Bern metro, with occupancy in the upper tier locally and steady renter demand. According to CRE market data from WDSuite, local rents remain relatively modest versus many national markets, which, paired with a manageable rent‑to‑income profile, can support retention while allowing targeted rent optimization through operational execution.
Built in 1986, the asset may require selective capital expenditures, but that age profile also underpins a clear value‑add path via interior refreshes and system updates to improve competitive positioning. Three‑mile demographic trends—population and household growth with smaller household sizes—suggest a larger renter pool over time, reinforcing occupancy stability for well‑managed multifamily properties in this location.
- Competitive neighborhood occupancy and upward trend bolster income stability
- Value‑add potential from 1986 vintage through targeted renovations and system upgrades
- Three‑mile household growth and smaller sizes expand the renter pool and support leasing
- Daily‑needs access (grocery, pharmacy, dining) supports tenant retention and lease‑up
- Risks: mixed safety signals locally and potential competition from entry‑level ownership options