22 Magnolia Way Grantsboro NC 25-Unit Multifamily

Grantsboro is a rural node within the New Bern, NC metro, where day-to-day amenities are thinner than urban cores yet adequate for local needs. Amenity access ranks competitive among 58 metro neighborhoods, though the area sits below the national median on amenity density. Cafes and pharmacies appear more frequently within the metro context, while parks are limited, which supports a quieter, car-reliant living pattern.

Neighborhood operating fundamentals are mixed but workable for smaller multifamily assets. Neighborhood occupancy is around the metro median (rank 31 of 58), indicating neither tight nor soft conditions. The share of renter-occupied units is competitive among New Bern neighborhoods (rank 20 of 58), pointing to a meaningful tenant base without oversaturation. At the neighborhood level, average NOI per unit ranks first out of 58 and sits in the top quartile nationally, signaling historically efficient operations in the area rather than a guarantee for any one property.

Home values in this neighborhood are lower than national norms, which can create some competition from ownership options. At the same time, rents trend on the lower end nationally, and rent-to-income metrics sit near the middle of national comparisons. For investors, this combination implies value-oriented positioning with manageable retention risk if lease management stays disciplined.

Demographic indicators are aggregated within a 3-mile radius. Recent population and household counts have been flat to slightly down, but the outlook points to a modest increase in both population and households over the next five years, which would expand the local renter pool. Median incomes have been rising and are projected to continue increasing, supporting the case for incremental rent growth so long as pricing stays aligned with local affordability.