| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 27th | Poor |
| Amenities | 30th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 255 Bailey Ln, Vanceboro, NC, 28586, US |
| Region / Metro | Vanceboro |
| Year of Construction | 1981 |
| Units | 36 |
| Transaction Date | 2012-05-01 |
| Transaction Price | $800,000 |
| Buyer | BAILEY LANE LLC |
| Seller | BAILEY LANE APARTMENTS |
255 Bailey Ln, Vanceboro NC Multifamily Opportunity
Neighborhood data points to a meaningful renter-occupied share and pragmatic rent levels that support demand resilience, according to WDSuite s CRE market data. Focus for investors is on steady workforce housing dynamics at the neighborhood level rather than the property itself.
The property sits in a suburban pocket of the New Bern, NC metro with a B neighborhood rating. Within the metro s 58 neighborhoods, amenity access ranks 13th, which places it in the top quartile locally; nationally, amenities benchmark closer to the lower-middle range. For multifamily, this translates into day-to-day convenience for residents without the pricing pressures typically seen in high-amenity urban cores.
Neighborhood occupancy is measured at the neighborhood level at 84.8%, placing it below the metro median, which suggests leasing strategies should focus on tenant retention and targeted marketing rather than aggressive rent pushes. The renter-occupied share of housing units is 43.7% (5th of 58), indicating a top-quartile renter concentration among New Bern neighborhoods and a deeper tenant base for small to mid-size assets.
Construction patterns skew older nearby (average 1972), while the asset s 1981 vintage is somewhat newer than the neighborhood norm. For investors, that positioning can be advantageous versus 1960s/1970s stock, while still warranting capital planning for systems, interiors, and common-area upgrades to remain competitive with refreshed supply.
Within a 3-mile radius, recent data shows population contraction over the last five years with a projected return to modest growth and an increase in households by the mid-term forecast. This points to a stabilizing or expanding renter pool, which can support occupancy and leasing momentum if units are priced and presented to local wage levels. Median home values in the neighborhood are comparatively low for national context, which means some households can consider ownership; for multifamily, that typically reduces pricing power but can still support steady demand for well-managed, more accessible rental options.
Schools in the neighborhood average nearer the lower side of ratings (below many national peers), an element that may matter for family renters; operators often counterbalance this with property-level value propositions such as renovated interiors, reliable maintenance, and consistent management presence.
WDSuite does not provide a current crime rank for this neighborhood, so comparative safety positioning within the New Bern metro cannot be quantified here. Investors typically supplement neighborhood-level data with local law enforcement reports and recent trend reviews to assess resident perception and its potential influence on leasing and retention.
This 36-unit, 1981-vintage asset aligns with a renter-heavy suburban neighborhood that exhibits practical rent levels and a deep tenant base relative to the New Bern metro. Based on CRE market data from WDSuite, neighborhood occupancy trends are below the metro median, favoring an operations-first thesis centered on retention, targeted renovations, and disciplined renewal management rather than aggressive rent growth.
Forward-looking 3-mile demographics indicate household expansion even as recent population trends have been mixed, signaling potential renter pool stabilization. The area s comparatively low ownership costs can create some competition with entry-level buying, but also sustain consistent demand for well-managed workforce housing. Value-add scope tied to the 1981 vintage such as interior updates and system modernization can improve competitiveness against older nearby stock while maintaining affordability.
- Renter concentration ranks top quartile in the metro, supporting depth of tenant demand.
- 1981 vintage offers value-add potential versus older neighborhood stock with targeted upgrades.
- Forecast household growth within 3 miles supports leasing stability and renewal strategies.
- Pragmatic rent levels align with local incomes, aiding retention when paired with service quality.
- Risks: neighborhood occupancy below metro median and some competition from ownership options.