| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 37th | Good |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3324 Sunset Ave, Rocky Mount, NC, 27804, US |
| Region / Metro | Rocky Mount |
| Year of Construction | 1977 |
| Units | 116 |
| Transaction Date | 2022-11-16 |
| Transaction Price | $1,800,000 |
| Buyer | DAWSON & HINES LLC |
| Seller | CURTIS SHIRLEY H |
3324 Sunset Ave Rocky Mount Multifamily Investment
Neighborhood occupancy trends point to steady renter demand and resilient leasing conditions, according to WDSuite’s CRE market data. The location’s established suburban setting in Rocky Mount supports workforce housing fundamentals without relying on speculative growth.
Situated in an Inner Suburb of Rocky Mount with an A neighborhood rating, this location ranks 8 out of 68 metro neighborhoods, placing it in the top quartile among Rocky Mount submarkets for overall fundamentals. WDSuite’s CRE market data indicates the area’s occupancy is competitive among local peers and lands in the top quartile nationally, a useful backdrop for stabilizing cash flow.
Daily-needs access is a relative strength: grocery and pharmacy presence ranks competitively among 68 metro neighborhoods, and the restaurant density sits above national averages. Childcare availability also scores well against both metro and national benchmarks. These amenity dynamics support retention and reduce friction for working households.
The share of renter-occupied housing in the neighborhood is 47.3%, indicating a sizable tenant base for multifamily. Median home values in the area are lower than many U.S. neighborhoods, which can create some competition from ownership; however, it also supports sustainable rent levels and lease retention for well-positioned properties.
Within a 3-mile radius, recent years show slight population contraction alongside growth in total households, pointing to smaller household sizes and a broader renter pool over time. Forward-looking projections indicate more households and rising incomes, which can support occupancy stability and measured rent growth.
Vintage matters for underwriting: constructed in 1977, the property is older than the neighborhood’s average vintage. Investors should plan for ongoing capital needs and consider value-add or systems modernization to enhance competitiveness versus newer stock.
Neighborhood safety signals are mixed and should be underwritten thoughtfully. Based on metro comparisons, the area’s crime rank sits in the lower half among 68 Rocky Mount neighborhoods, which indicates relatively higher reported crime than some suburban peers. Nationally, the neighborhood sits below the median for safety.
Trend-wise, violent offense rates have moved lower year over year, placing the improvement in a stronger national percentile for change, while property offense trends show a modest uptick. For investors, this suggests continued emphasis on lighting, access control, and community engagement, and aligning security measures with resident expectations and insurance requirements.
This 116-unit asset at 3324 Sunset Ave sits in a top-quartile Rocky Mount neighborhood with occupancy that is competitive locally and strong on a national basis. According to CRE market data from WDSuite, the surrounding area maintains a sizable renter-occupied housing share and everyday amenities that support workforce housing demand, which can translate into steadier leasing and retention.
Built in 1977, the property offers clear value-add and capital planning angles to improve relative positioning against newer stock. Within a 3-mile radius, households have been increasing even as population edges down, pointing to smaller household sizes and a broader renter pool over time; coupled with manageable rent-to-income levels, this supports demand depth and occupancy stability. Key risks include older physical systems, uneven school ratings, and safety metrics that trail national medians, each of which should be reflected in capex, operations, and leasing strategy.
- Top-quartile neighborhood within Rocky Mount with strong occupancy backdrop
- Established amenities and sizable renter concentration support demand and retention
- 1977 vintage offers value-add potential via renovations and systems upgrades
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: older infrastructure, below-median safety, and weak school ratings require proactive management