| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 62nd | Best |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4315 Academic Dr, New Bern, NC, 28562, US |
| Region / Metro | New Bern |
| Year of Construction | 1993 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4315 Academic Dr New Bern 46-Unit Multifamily
Household growth within a 3-mile radius and competitive neighborhood occupancy support leasing stability, according to WDSuite s CRE market data. Focus on steady renter demand rather than outsized rent spikes in this New Bern submarket.
Positioned in an A+ rated neighborhood that ranks 2nd of 58 New Bern metro neighborhoods, the location sits in the top quartile locally for overall fundamentals. Restaurants and cafes rank 6th of 58, indicating competitive amenity access for a rural setting, while limited park space suggests outdoor recreation may rely more on regional options.
Neighborhood occupancy is reported at 89.7% (competitive among New Bern neighborhoods at 16th of 58), which, paired with a renter-occupied housing share of 33.8% within a 3-mile radius, points to a stable tenant base for multifamily. Average school ratings trend strong for the metro (ranked 6th of 58 and about the 73rd percentile nationally), a factor that can support retention for family renters.
Within a 3-mile radius, population and household counts have risen over the past five years and are projected to continue growing, supporting a larger tenant base and sustained leasing velocity. Median contract rents in this radius remain measured relative to incomes (rent-to-income dynamics suggest manageable affordability pressure), which can aid renewals while still allowing disciplined revenue management.
Median home values and a value-to-income ratio near metro norms indicate a high-cost ownership market is not the primary constraint here; instead, ownership remains relatively accessible compared with coastal North Carolina hubs. That can introduce some competition with for-sale options, so multifamily pricing power may hinge on convenience, finishes, and property management quality.
Comparable neighborhood crime metrics are not available in WDSuite for this location. Investors should evaluate broader New Bern and Craven County trend data, review recent incident maps, and align on standard lender due diligence to contextualize safety alongside property operations.
4315 Academic Dr offers 46 units built in 1993 in a top-quartile New Bern neighborhood, with competitive local occupancy and a renter base supported by 3-mile population and household growth. The vintage is slightly older than the neighborhood average (1996), which may present value-add potential through interior upgrades and targeted systems updates to sharpen competitive positioning.
Rents in the 3-mile area remain measured versus incomes, supporting retention and steady cash flow, while projected household gains suggest continued renter pool expansion. Based on commercial real estate analysis from WDSuite, the submarket s fundamentals lean toward stable demand rather than volatility, with execution likely driven by renovation scope and disciplined lease management.
- Top-quartile neighborhood in New Bern (2nd of 58) supports durable renter demand
- Competitive neighborhood occupancy with growing 3-mile households supports leasing stability
- 1993 vintage offers value-add and systems-refresh potential versus newer local stock
- Measured rent-to-income dynamics aid renewals and pricing discipline
- Risks: limited park access and some competition from ownership options may temper pricing power