| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 62nd | Best |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 S Glancy St, Swansboro, NC, 28584, US |
| Region / Metro | Swansboro |
| Year of Construction | 1981 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
400 S Glancy St, Swansboro NC Multifamily Investment
Positioned in an A+–rated neighborhood ranked 3rd of 55 in the Jacksonville metro, this 48‑unit asset benefits from strong incomes and low rent-to-income levels, according to WDSuite’s CRE market data. Focus is on durable tenant retention and operations discipline given the area’s owner-leaning housing mix.
The property sits in a suburban pocket of Swansboro with an A+ neighborhood rating and a rank of 3 out of 55 Jacksonville, NC neighborhoods—competitive among metro peers. Local schools average 3.8 out of 5 (top quartile nationally), and park access ranks 3rd of 55, supporting day‑to‑day livability that helps with leasing and renewals.
Neighborhood occupancy is 86.9% (neighborhood metric, not property), which sits on the lower side nationally (33rd percentile). That backdrop puts a premium on asset-level marketing and renewal management to sustain occupancy, while the area’s renter affordability profile is favorable: the neighborhood rent-to-income ratio is 0.07 (95th percentile nationwide), suggesting lower affordability pressure that can aid retention and measured pricing power.
Tenure patterns indicate about 21.5% of housing units are renter‑occupied at the neighborhood level—an owner‑weighted base that implies a smaller but potentially stable multifamily renter pool. Median home values of $302,219 alongside above‑average household incomes ($94,722; 70th percentile nationally) point to a high‑cost ownership market relative to many areas, which can sustain reliance on rental options for some households while also creating competition from for‑sale housing for others.
Demographics aggregated within a 3‑mile radius show approximately 14% population growth and an 11% increase in households over the last five years, expanding the local tenant base. Projections through 2028 indicate additional population growth (~10%) and substantial household gains (~34%), supporting renter pool expansion and occupancy stability, though forecasts also suggest rising ownership share, which investors should weigh when assessing long‑term absorption.
Built in 1981 versus a neighborhood average vintage of 1985, the asset is slightly older than nearby stock—pointing to potential value‑add via interior upgrades, common‑area improvements, and systems modernization to improve competitive positioning against newer comparables.
Metro-comparative crime data for this specific neighborhood is not available in the feed. Investors typically benchmark neighborhood safety trends against broader Jacksonville and county data and corroborate with local reports, property tours, and resident feedback. Use recent, third‑party sources to track multi‑year directionality and compare against submarket peers.
This 1981, 48‑unit property offers scale in an A+ neighborhood ranked 3rd of 55 within the Jacksonville, NC metro. According to CRE market data from WDSuite, neighborhood occupancy is 86.9% (neighborhood stat), suggesting asset‑level leasing and renewal execution will be important, while strong household incomes and a low rent‑to‑income ratio indicate manageable affordability pressure that can support retention. Schools and park access test well versus national benchmarks, and recent 3‑mile demographic gains point to a larger tenant base over time.
Key considerations include an owner‑weighted tenure profile (about 21.5% renter‑occupied) and forecasts indicating rising ownership share, which could temper future multifamily absorption. Conversely, the property’s slightly older vintage relative to the neighborhood suggests practical value‑add and CapEx paths—modernization and amenity upgrades—to maintain competitiveness and support steady occupancy.
- A+ neighborhood, ranked 3rd of 55—competitive positioning within the Jacksonville metro
- Low neighborhood rent‑to‑income ratio supports renter retention and pricing discipline
- 3‑mile area shows population and household growth, enlarging the tenant base
- 1981 vintage provides value‑add and systems‑upgrade opportunities to enhance competitiveness
- Risk: neighborhood occupancy at 86.9% and owner‑leaning tenure may moderate multifamily absorption