| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Poor |
| Demographics | 56th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 Crystal Ln, Hubert, NC, 28539, US |
| Region / Metro | Hubert |
| Year of Construction | 2000 |
| Units | 35 |
| Transaction Date | 2024-04-18 |
| Transaction Price | $250,000 |
| Buyer | NIKORAK THOMAS |
| Seller | MORRIS SUZANNE MARI |
114 Crystal Ln, Hubert NC — 35-Unit 2000 Multifamily
Steady renter demand is supported by strong 3-mile household growth and submarket-level affordability, according to WDSuite’s CRE market data. The property’s 2000 vintage positions it competitively against older local stock while leaving room for targeted upgrades.
Hubert is a rural node within the Jacksonville, NC metro, with limited on-the-doorstep amenities and a car-oriented lifestyle. Neighborhood schools average 3.0 out of five and rank 5 of 55 in the metro, which is competitive among Jacksonville neighborhoods and sits above the national average (61st percentile), per WDSuite.
At the neighborhood level, occupancy is 82.4% (for the neighborhood, not this property) and ranks 40 of 55 — below the metro median — suggesting leasing strategies should emphasize retention and value positioning. Median contract rents in the neighborhood are modest ($821), and the rent-to-income ratio of 0.17 indicates manageable rent levels that can support lease stability, though it may temper near-term pricing power.
Within a 3-mile radius, demographics show meaningful tailwinds: population increased roughly 21% and households about 33% over the last five years, with forecasts calling for continued population growth (~11%) and a sizable increase in households (~34%) by 2028. This expansion, alongside slightly smaller average household sizes, points to a larger tenant base and supports occupancy stability for well-managed assets.
Tenure patterns within 3 miles show roughly one-third of housing units are renter-occupied, providing depth to the multifamily renter pool. Median home values in the neighborhood are around $201,400 with a value-to-income ratio near 3.4; ownership remains relatively accessible compared with high-cost coastal markets, which can introduce competition from entry-level ownership, but also supports renter retention where quality, convenience, and professional management differentiate the offering.
The asset’s 2000 construction year is newer than the neighborhood’s average vintage (1972). Investors can expect relative competitiveness versus older stock, with potential upside from selective renovations and modernization of systems to meet current renter preferences.
Detailed neighborhood crime metrics are not available from WDSuite for this location. Investors typically benchmark safety by comparing neighborhood trends to metro and county reporting and validating with local property managers and law enforcement. Use a comparative lens across Jacksonville, NC submarkets to contextualize risk and its potential impact on leasing and retention.
This 35-unit asset built in 2000 offers relative competitive positioning versus the area’s older housing stock, with an opportunity to capture steady demand from a growing renter pool. Based on commercial real estate analysis from WDSuite, the surrounding 3-mile area has seen strong population and household growth, while neighborhood-level rents remain manageable, supporting retention and occupancy stability for well-operated communities.
Key considerations include below-median neighborhood occupancy (neighborhood metric, not property-specific) and a rural amenity profile, which place a premium on asset quality, management, and unit upgrades to sustain leasing velocity. Balanced pricing strategy and targeted renovations can help convert the area’s household growth into durable cash flow.
- 2000 vintage offers competitive positioning versus older neighborhood stock, with targeted value-add potential
- 3-mile population and household growth expands the renter base and supports occupancy
- Manageable neighborhood rent-to-income levels support lease retention and rent collections
- Risk: neighborhood occupancy trails metro median; focus on retention and leasing execution
- Risk: rural amenity profile may slow lease-up without competitive finishes and management