| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 18th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 307 N Dudley St, Burgaw, NC, 28425, US |
| Region / Metro | Burgaw |
| Year of Construction | 1988 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
307 N Dudley St, Burgaw NC Multifamily Investment
Neighborhood occupancy is competitive among Wilmington neighborhoods and sits above national medians, according to WDSuite s CRE market data, supporting stable renter demand for a 49-unit asset in a rural submarket.
Burgaw is a rural neighborhood within the Wilmington, NC metro with a modest but steady renter base. Neighborhood occupancy is ranked 25th out of 78 Wilmington neighborhoods, indicating performance that is competitive among Wilmington neighborhoods and above the national median, per WDSuite s commercial real estate analysis. Notably, references to occupancy reflect neighborhood conditions rather than the subject property.
The area offers a small-town setting with sparse retail and service density. Amenity measures such as cafes, groceries, restaurants, parks, and pharmacies rank at the bottom of the 78-neighborhood Wilmington distribution and in low national percentiles, reinforcing a car-dependent profile. For investors, that typically translates to residents valuing on-site conveniences, parking, and straightforward access to regional corridors over walkable retail.
Home values sit near the middle of the national distribution while the value-to-income ratio trends in a higher national percentile, suggesting a relatively high-cost ownership market for local incomes. That dynamic can sustain reliance on multifamily rentals and support lease retention and pricing power when paired with prudent rent management. Neighborhood rent-to-income levels trend more manageable than many areas nationwide, which can underpin collections and reduce turnover risk.
Construction in the neighborhood skews older (average year 1957 across the metro comparison set of 78 neighborhoods). With a 1988 vintage, the subject asset is newer than much of the surrounding stock, positioning it competitively versus older properties while still warranting targeted modernization of aging systems to support rents and operating efficiency.
Within a 3-mile radius, demographics indicate recent population growth with a larger increase in household counts and families than population, pointing to a growing tenant base and smaller household sizes. Projections to 2028 show further population and household expansion in the 3-mile area, which can deepen the renter pool and support occupancy stability over the hold period.
Neighborhood-level crime metrics are not available in WDSuite for this location, so investors should reference city and county trends and corroborate with public safety datasets and property-level incident logs. In rural Wilmington metro communities like Burgaw, safety perceptions can vary by block and asset operations, making on-site security practices, lighting, and resident screening key parts of underwriting.
Given the absence of comparable rank or percentile data against the 78 Wilmington neighborhoods, a prudent approach is to benchmark against regional statistics, review recent trends rather than single-year snapshots, and incorporate vendor due diligence and local law enforcement feedback into risk assessment.
Employment access skews regional, with manufacturing and materials science providing durable jobs that can support workforce housing demand and commute-based leasing. The following nearby employer exemplifies this base.
- Corning Optical Fiber Wilmington advanced materials manufacturing (21.2 miles)
This 49-unit, 1988-vintage property offers durable occupancy potential in a rural submarket where neighborhood-level occupancy trends are competitive within the Wilmington metro and above national medians. Based on CRE market data from WDSuite, a renter-occupied share around one-third of neighborhood units and a relatively manageable rent-to-income backdrop point to a stable tenant base, while a higher national percentile for ownership value-to-income suggests ownership costs that can reinforce reliance on rentals. The asset s vintage is newer than the neighborhood s older housing stock, creating an opportunity to capture a quality premium with selective upgrades to systems and finishes.
Within a 3-mile radius, recent growth in households and families outpaced population gains, with projections indicating further expansion through 2028. That trajectory supports a larger renter pool and steadier leasing, though the sparse amenity environment and regional commuting pattern place a premium on on-site conveniences, parking, and property operations. Investors should underwrite capital for modernization and evaluate property management practices to sustain retention.
- Competitive neighborhood occupancy versus Wilmington peers supports stability
- 1988 vintage newer than area stock potential to out-compete older assets with targeted upgrades
- Ownership costs relatively high for local incomes, sustaining multifamily demand and retention
- 3-mile household and family growth points to a deepening renter pool and leasing durability
- Risk: sparse neighborhood amenities and commute-driven living require strong on-site services and access management