| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 62nd | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 315 S Dudley St, Burgaw, NC, 28425, US |
| Region / Metro | Burgaw |
| Year of Construction | 1996 |
| Units | 20 |
| Transaction Date | 2023-05-25 |
| Transaction Price | $1,600,000 |
| Buyer | DUDLEY STREET LLC |
| Seller | MOUNTAIN VIEW 1 LLC |
315 S Dudley St Burgaw NC 20-Unit Multifamily
Renter demand is supported by projected household growth within a 3-mile radius and a 1996 vintage that competes favorably with older local stock, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steadier than rapid-growth metros, positioning the asset for consistent, management-led performance.
Located in Burgaw within the Wilmington, NC metro, the neighborhood scores a C and ranks 55 of 78 metro neighborhoods, indicating a rural setting with modest services and car-oriented living. Amenity density is limited locally (few cafes, parks, or pharmacies), so residents typically rely on nearby corridors and larger employment centers for retail and services.
For schools, the area’s average rating sits around the metro’s competitive range (rank 20 of 78; 61st percentile nationally), which can aid family retention even in a low-amenity context. Neighborhood occupancy is below the metro median, signaling leasing will rely on targeted operations and product differentiation rather than market momentum.
Tenure patterns vary by geography: within the neighborhood, renter-occupied housing is a smaller share of units, suggesting a thinner in-neighborhood renter base. However, demographics aggregated within a 3-mile radius point to a materially larger renter pool (about one-third of housing units renter-occupied), which broadens the catchment for leasing and supports occupancy stability for well-managed assets.
Home values and rents benchmark near national mid-range levels (both around the low-50s national percentiles). This context implies ownership is comparatively accessible versus high-cost metros, which can create some competition with renting; at the same time, rent-to-income levels near the national middle support lease retention with disciplined pricing. From a commercial real estate analysis perspective, value will depend on unit mix, finishes, and operational execution rather than outsized market growth.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors commonly benchmark conditions using county and metro comparisons and on-the-ground diligence to understand trend direction and how safety perceptions may influence tenant retention and achievable rents.
The employment base is driven by regional manufacturing and tech-adjacent production, supporting a commuter renter profile with steady, year-round demand. Nearby anchors include:
- Corning Optical Fiber Wilmington — advanced manufacturing (20.7 miles)
Built in 1996, this 20-unit property is newer than much of the surrounding housing stock, offering a competitive edge versus 1980s-era inventory while still leaving room for targeted modernization. Within a 3-mile radius, population and household counts are projected to expand, pointing to a larger tenant base and supporting occupancy stability for well-positioned units. According to CRE market data from WDSuite, local home values and rents track near national mid-range levels, which suggests balanced pricing power with an emphasis on retention and operations.
The neighborhood’s rural profile and lower amenity density mean the asset’s performance will hinge on management, finishes, and efficient leasing to a commuter workforce. With small average unit sizes, the offering can appeal to cost-conscious renters, but underwriting should account for marketing reach beyond the immediate neighborhood given a lower renter concentration in the immediate area.
- 1996 vintage offers relative competitiveness versus older local stock, with selective renovation upside
- 3-mile radius shows projected growth in households, expanding the tenant base and supporting occupancy
- Rents and home values near national mid-range support balanced pricing and retention-focused operations
- Small average unit sizes align with workforce renters seeking attainable monthly payments
- Risks: amenity-light rural setting and lower neighborhood renter concentration require broader marketing and active management