| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 57th | Best |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Riverbank Dr, Spring Lake, NC, 28390, US |
| Region / Metro | Spring Lake |
| Year of Construction | 1986 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1000 Riverbank Dr Spring Lake Multifamily Investment
Neighborhood data points to a deep renter base and stable workforce demand, according to WDSuite’s CRE market data. Metrics cited here describe the surrounding neighborhood, not this specific asset’s operations.
Located in Spring Lake’s inner-suburban fabric of the Fayetteville, NC metro, the neighborhood carries a B- rating and shows a renter-occupied concentration well above typical levels locally. That dynamic generally supports a broader tenant pool and steadier leasing funnel for multifamily investors. Median contract rents benchmark near the national middle, while neighborhood occupancy trends below national norms, suggesting the need for active leasing and asset management to maintain stability. All references to occupancy and rents are at the neighborhood level.
Vintage matters for competitiveness: built in 1986, the property is newer than the neighborhood’s average construction year (1979). That relative youth can help on curb appeal and functional layouts versus older stock, though planning for system updates and selective renovations remains prudent to bolster positioning and NOI.
Livability features are modest nearby. Amenity density ranks on the lower end within the metro and sits in the lower national percentiles, indicating limited walkable retail and services in the immediate area; residents typically rely on larger corridors for groceries, pharmacies, and cafes. For investors, this points to an emphasis on on-site amenities and property-level conveniences to aid retention.
Within a 3-mile radius, demographics show a slight pullback in population but growth in household counts, indicating smaller household sizes and a gradual expansion of addressable renter households. Projections point to further household growth over the next five years alongside rising incomes, which can support occupancy stability and measured rent increases when paired with disciplined lease management. Lower local home values relative to national norms suggest ownership is more accessible than in high-cost markets, which may temper pricing power; however, the high renter-occupied share supports ongoing depth of demand.
Comparable neighborhood safety metrics are not available in the current WDSuite release for this location. Investors typically benchmark property performance and insurance assumptions against metro and citywide trends and monitor municipal reporting for directional changes. Without ranked or percentile data, it is prudent to underwrite conservatively and verify on-the-ground conditions as part of due diligence.
Regional corporate employers within commuting range contribute to a diversified job base that can support renter demand, though day-to-day leasing is more influenced by local services and installations than distant office nodes. Notable nearby corporate offices include:
- Erie Insurance Group — insurance services (39.5 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (41.1 miles)
This 1986, 104-unit asset sits in an inner-suburban neighborhood with a high share of renter-occupied housing, expanding household counts within a 3-mile radius, and median rents near the national middle. According to CRE market data from WDSuite, neighborhood occupancy trends below national norms, which places a premium on hands-on leasing and resident retention. The property’s relative vintage versus older local stock provides a platform for selective upgrades to enhance competitiveness and drive NOI.
Amenity density is limited in the immediate area, so on-site features and service quality become key differentiators. Lower local home values imply some competition from entry-level ownership, yet the neighborhood’s renter concentration supports demand depth for workforce-oriented rentals. Forward projections show rising household incomes and additional household growth, supporting a larger tenant base and the potential for steady rent performance under disciplined operations.
- High renter-occupied concentration supports a deeper tenant base and leasing stability.
- 1986 vintage offers value-add and modernization angles versus older neighborhood stock.
- 3-mile area shows household growth and rising incomes, reinforcing long-term demand.
- Limited nearby amenities heighten the importance of on-site features and service quality.
- Risks: neighborhood occupancy runs below national norms and lower ownership costs can temper pricing power.