| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 65th | Fair |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 102 Pirates Moor, Kill Devil Hills, NC, 27948, US |
| Region / Metro | Kill Devil Hills |
| Year of Construction | 1998 |
| Units | 44 |
| Transaction Date | 2019-02-01 |
| Transaction Price | $3,757,000 |
| Buyer | Pirates Harmony Housing, LLC |
| Seller | --- |
102 Pirates Moor, Kill Devil Hills NC Multifamily
Positioned in a Suburban Outer Banks neighborhood with steady renter demand supported by local services and tourism-oriented employment, according to WDSuite’s CRE market data. Expect durable leasing fundamentals driven by amenity access and a relatively high-cost ownership market that sustains interest in professionally managed rentals.
Kill Devil Hills offers daily convenience and lifestyle appeal for residents, with strong access to groceries, parks, restaurants, and pharmacies compared with many neighborhoods nationwide. Neighborhood metrics reflect the surrounding area rather than this property’s operations, but the local amenity mix typically supports traffic, lease-up, and retention for workforce and lifestyle renters.
The neighborhood’s housing stock trends slightly newer than the regional average, and this 1998 vintage positions the asset competitively versus older product while still warranting standard system upgrades over a hold period. Median home values in the neighborhood are elevated relative to national benchmarks, which helps sustain multifamily demand by making professionally managed rentals an attractive alternative to ownership for many households.
Within a 3-mile radius, population and household counts have expanded over the past five years, with forecasts pointing to further growth. That trajectory implies a larger tenant base and supports occupancy stability as more households enter the area. Average household sizes have been fairly stable, and rising incomes in the vicinity align with continued capacity for market-rate units.
Renter-occupied housing represents a minority share in the neighborhood, indicating a smaller but targeted renter pool. For investors, this typically favors well-located, professionally managed communities that can capture demand from service-sector employees, year-round residents, and longer-stay renters seeking amenity proximity and predictable management. Neighborhood occupancy metrics are measured at the neighborhood level and may be influenced by seasonal and second-home dynamics common to coastal markets.
Neighborhood safety indicators compare favorably to many areas nationwide on violent incidents, with recent trends showing improvement year over year. Property-related incidents have been more variable, reflecting coastal seasonality and visitor volumes, and can fluctuate through the year; this underscores the importance of standard security practices and lighting, plus resident engagement, to support on-site conditions.
At the metro level, the area is competitive among Kill Devil Hills neighborhoods, while national percentiles indicate stronger relative performance on violent safety and mixed results on property incidents. Investors should evaluate historical trend lines and on-the-ground management protocols rather than relying on a single-year snapshot.
The local employment base is anchored by tourism services, retail, healthcare, and public-sector institutions that drive year-round and seasonal hiring, supporting renter demand through commute convenience. Specific nearby employers with verifiable distances are not available from WDSuite for this address at this time.
This 1998, 44-unit community offers competitive positioning in a suburban Outer Banks location where amenity access and elevated ownership costs reinforce interest in quality rentals. Based on CRE market data from WDSuite, neighborhood-level indicators point to solid service access and a renter base supported by tourism-adjacent employment, while 3-mile demographics show past and projected growth in population and households that can translate into a deeper tenant pool.
The vintage is newer than much of the older coastal stock, which supports leasing competitiveness; however, investors should plan for ongoing modernization of interiors and building systems over the hold. With a smaller renter-occupied share at the neighborhood level, execution favors professional management that can capture steady year-round demand and manage seasonality, pricing, and renewals thoughtfully.
- Amenity-rich coastal location supports leasing traffic and retention
- 1998 vintage offers competitive positioning versus older area stock with value-add potential
- 3-mile population and household growth expand the tenant base and support occupancy stability
- Elevated ownership costs in the area help sustain multifamily rental demand
- Risks: seasonal dynamics and variable property-incident trends require active management and prudent capital planning