| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 65th | Good |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 113 Wild Geese Ct, Powells Point, NC, 27966, US |
| Region / Metro | Powells Point |
| Year of Construction | 1996 |
| Units | 44 |
| Transaction Date | 2019-02-01 |
| Transaction Price | $3,325,000 |
| Buyer | Wild Geese Harmony Housing, LLC |
| Seller | --- |
113 Wild Geese Ct, Powells Point Multifamily Investment
Neighborhood occupancy sits around the metro middle and the area is predominantly owner-occupied, indicating a smaller but potentially stable renter base, according to WDSuite’s CRE market data. For investors, this points to measured demand with limited direct rental competition and an emphasis on retention and lease management.
Powells Point is a suburban location within the Virginia Beach–Norfolk–Newport News metro, with neighborhood performance that is above the metro median (ranked 229 out of 480 neighborhoods). The tenant pool is thinner than urban cores due to a lower share of renter-occupied units at the neighborhood level, so underwriting should focus on tenant retention and steady renewal management rather than rapid lease-up.
Schools are a relative strength: the neighborhood’s average school rating ranks 20 out of 480 metro neighborhoods and sits in the 84th percentile nationally, a top-quartile signal that can support family-oriented demand and longer tenures. Parks access trends above national norms (around the 63rd percentile), while day-to-day amenities such as cafes and pharmacies are limited locally, reinforcing the area’s low-intensity suburban character.
At the neighborhood level, occupancy trends hover near the national middle, which suggests stable operations rather than outsized volatility. Median contract rents benchmark slightly above the national mid-point, and a rent-to-income ratio around 0.12 indicates manageable affordability pressure — supportive of retention and measured pricing power when paired with prudent lease management.
The property’s 1996 vintage is older than the neighborhood’s average construction year (2004, measured against 480 metro neighborhoods). For investors, that typically means planning for targeted capital projects and modernization to remain competitive, with potential value-add upside through unit and system updates. Home values in the area are elevated relative to local incomes (nationally around the mid-60s percentiles), which can sustain reliance on rental housing and support occupancy.
Demographic statistics are aggregated within a 3-mile radius. Recent years show slight population and household softening, but forward-looking estimates indicate an increase in households alongside smaller average household sizes. For multifamily, that points to a gradual expansion of the renter pool and supports occupancy stability over the medium term, provided product quality and pricing align with local income bands.
Neighborhood-level crime metrics were not available in the current dataset. Investors typically benchmark safety by comparing local trends with county and metro patterns and by reviewing multi-period changes rather than single-year snapshots. Use multiple sources and on-the-ground diligence to contextualize risk at the block and property level.
This 44-unit, 1996-vintage asset offers scale in a low-intensity suburban pocket where renter demand is steadier than fast-growth urban nodes. According to CRE market data from WDSuite, neighborhood occupancy is near the national middle, schools are a top-quartile strength, and the rent-to-income profile points to manageable affordability pressure—factors that support retention and predictable operations.
Being older than the neighborhood’s average construction year, the property presents a clear value-add path through interior refreshes and selective system upgrades to sharpen competitiveness against newer stock. Within a 3-mile radius, projections indicate more households and smaller household sizes over the next few years, implying a gradual expansion of the renter base and support for steady leasing.
- Suburban stability: occupancy near national midpoint with limited nearby rental competition supports retention-focused operations.
- Strong school positioning: top-quartile neighborhood school ratings can aid demand durability and lease longevity.
- Value-add potential: 1996 vintage versus newer neighborhood stock enables upgrades to drive rent and NOI growth.
- Income alignment: moderate rent levels and manageable rent-to-income dynamics support pricing power with careful lease management.
- Key risk: smaller renter-occupied share and limited nearby amenities require disciplined marketing and asset positioning to maintain absorption.