| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 18th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 N Timberly Ln, Burgaw, NC, 28425, US |
| Region / Metro | Burgaw |
| Year of Construction | 1983 |
| Units | 51 |
| Transaction Date | 2011-12-29 |
| Transaction Price | $1,920,500 |
| Buyer | PHP NORTHWOODS LLC |
| Seller | NORTHWOODS APARTMENTS |
601 N Timberly Ln, Burgaw NC Multifamily Investment
Neighborhood occupancy trends run above national norms, supporting steady leasing dynamics for a 51-unit asset, according to WDSuite’s CRE market data. Positioning in a rural submarket suggests tenants prioritize value and practicality over amenity density, which can favor stable, needs-based demand.
Livability in this rural pocket of Burgaw is defined by lower-density housing and limited retail clusters. WDSuite indicates the neighborhood s occupancy rate is above the metro median and sits modestly above national norms, a supportive backdrop for stabilized operations. Local amenity density is sparse, so resident preferences typically skew toward space and value over walkability.
Tenure patterns point to a renter-occupied share near one-third of housing units, which is competitive among Wilmington neighborhoods and indicates a meaningful tenant base for multifamily. For investors, this suggests steady depth for workforce-oriented product, with leasing driven by necessity and proximity to daily needs rather than lifestyle-oriented amenities.
Within a 3-mile radius, WDSuite data shows recent population growth with further expansion projected, alongside a trend toward smaller average household sizes. This combination typically broadens the renter pool and can support occupancy stability even as new households form. Rent levels benchmark as relatively manageable versus incomes (rent-to-income trends are favorable), which can aid retention and lease management.
The asset s 1983 vintage is newer than the area s older housing stock (average construction year skews mid-20th century). That relative youth can be a competitive edge against older comparables, while still warranting targeted capital planning for aging systems and selective value-add upgrades to meet contemporary renter expectations.
Comparable crime data at the neighborhood level is not available in WDSuite for this location. Investors should contextualize safety using multiple sources and trend comparisons at the town, county, and Wilmington metro levels to gauge relative performance over time.
The broader employment base includes advanced materials manufacturing reachable by regional highways, supporting workforce housing demand and commute practicality for renters.
- Corning Optical Fiber Wilmington manufacturing (21.5 miles)
This 51-unit property s setting in a lower-density Burgaw neighborhood offers stable, needs-driven renter demand. Neighborhood occupancy trends run above metro medians, and rent-to-income levels indicate manageable tenant affordability a foundation for retention and operational predictability. According to CRE market data from WDSuite, the surrounding area shows population growth within 3 miles with further expansion projected, which typically enlarges the renter pool and supports leasing durability.
The 1983 vintage is relatively newer than much of the local housing stock, which can help competitive positioning versus older comparables. At the same time, a rural amenity profile and commuting orientation call for thoughtful asset management: targeted upgrades, durable finishes, and expense control can help maintain pricing power while preserving affordability for the area s renter base.
- Above-median neighborhood occupancy supports stable cash flow potential
- 3-mile population growth and smaller household sizes expand the renter pool
- 1983 vintage offers competitive positioning vs. older local stock with selective value-add
- Favorable rent-to-income dynamics aid retention and lease management
- Risks: rural amenity scarcity and limited nearby employers require disciplined leasing and expense control