| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 22nd | Poor |
| Demographics | 24th | Poor |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 150 Parrish Ct, Rocky Mount, NC, 27801, US |
| Region / Metro | Rocky Mount |
| Year of Construction | 1973 |
| Units | 75 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
150 Parrish Ct Rocky Mount Multifamily Investment
Renter demand looks durable given a high renter-occupied share within a 3-mile radius and relatively low rent-to-income levels, according to WDSuite’s CRE market data. Neighborhood occupancy has softened, so underwriting should prioritize leasing strategy and tenant retention.
150 Parrish Ct sits in a rural pocket of Rocky Mount where day-to-day services are present but limited. Childcare and pharmacy access show up as relative bright spots versus other local amenities, while cafes, restaurants, and parks are sparse. For investors, this translates to a renter base that values housing value and commute practicality over lifestyle retail.
The property 973 construction year is newer than the neighborhood s average vintage (1956), which can offer a competitive edge versus older stock. Investors should still plan for system upgrades and targeted renovations to keep the asset marketable and manage capital needs over the hold period.
Neighborhood-level occupancy ranks near the bottom among 68 metro neighborhoods and has trended lower over the past five years. By contrast, renter-occupied share is in the top quartile among 68 metro neighborhoods, signaling a deeper tenant pool for multifamily. Taken together, the area supports demand for rentals, but owners should expect leasing to be more management-intensive than in tighter submarkets.
Demographic data aggregated within a 3-mile radius points to modest recent population growth with projections indicating more households ahead, implying a larger tenant base over time. Home values in this part of Rocky Mount are comparatively low, which can introduce competition from entry-level ownership; however, more accessible purchase prices also mean multifamily can retain residents by competing on convenience and monthly payment stability. Rent levels benchmark as relatively affordable, supporting pricing discipline and renewal strategies rather than aggressive rent pushes.
Safety indicators for the neighborhood sit below national averages, and the submarket ranks weaker on crime compared with many Rocky Mount neighborhoods (18th of 68 indicates higher incident levels). Even so, year-over-year trends have improved materially, with both property and violent offense rates declining and landing in the top quartile nationally for improvement momentum, based on WDSuite s CRE market data. Investors should underwrite conservative security measures and community standards while recognizing the direction of change.
This 75-unit asset offers an attainable-housing profile in a renter-heavy area, with demand supported by a sizable tenant base within a 3-mile radius and rent-to-income levels that leave room for steady occupancy. Built in 1973, it is newer than much of the surrounding housing stock, suggesting relative competitiveness versus older properties while still benefiting from targeted value-add to modernize interiors and systems. Neighborhood occupancy has been weak, so performance will hinge on hands-on leasing and resident retention rather than outsized rent growth.
According to CRE market data from WDSuite, the neighborhood s renter concentration compares favorably within the metro, and recent safety trends are moving in a positive direction. Amenity density is limited and ownership is relatively accessible locally, so positioning should emphasize reliable operations, practical upgrades, and service quality to sustain leasing velocity.
- Renter-heavy area supports a deeper tenant base and occupancy stability.
- 1973 vintage offers value-add potential while competing well against older nearby stock.
- Affordability (relative rent-to-income) favors renewals and disciplined pricing over time.
- Risk: Neighborhood occupancy is soft; active leasing and renewal management are critical.
- Risk: Limited amenity density and below-average safety perceptions may temper rent growth.