| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 51st | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 188 W Second St, Ayden, NC, 28513, US |
| Region / Metro | Ayden |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
188 W Second St Ayden NC 24-Unit Multifamily
Neighborhood occupancy trends are steady and renter demand is supported by local amenities and a manageable rent-to-income profile, according to WDSuite’s CRE market data. For investors, this points to stable lease-up and retention dynamics with measured pricing power rather than outsized growth.
Located in Ayden within the Greenville, NC metro, the neighborhood carries a B+ rating and is competitive among Greenville neighborhoods (17th of 61). The submarket profile skews suburban with everyday services and parks accessible, while pharmacies are limited locally. For investors, this mix supports daily livability and helps sustain tenant retention, though residents may travel a bit farther for certain services.
Multifamily fundamentals are balanced: the neighborhood s occupancy is around the metro median, supporting consistent collections and lower downtime between turns. Renter concentration in the neighborhood sits in the upper tier for the metro, indicating depth in the tenant base and a durable pool of prospects for a 24-unit asset.
Within a 3-mile radius, recent population growth and a faster increase in households point to a larger tenant base and smaller average household sizes over time trends that typically support absorption and occupancy stability for workforce-oriented units. Forward-looking projections indicate additional population and household growth, reinforcing the demand side of the underwriting while suggesting prudent attention to lease management as the renter pool evolves.
Relative pricing context favors rentals: median home values in the area are lower than national norms, but ownership costs relative to local incomes are higher than many U.S. neighborhoods. This combination tends to sustain renter reliance on multifamily housing and supports lease retention, while moderate rent-to-income levels suggest manageable affordability pressure rather than acute stress. School ratings track below national averages but are above the metro median, which can still support family-oriented demand at value-conscious price points.
The property s 1990 vintage is notably newer than the neighborhood s older housing stock (average construction year skews early 20th century). That relative youth can be a competitive advantage versus surrounding properties, though investors should still plan for targeted modernization and systems updates to keep the asset positioned against newer deliveries in the broader region.
Safety indicators are mixed when viewed locally versus nationally. Relative to the 61 neighborhoods in the Greenville metro, reported crime trends higher than the metro median. At the same time, national comparisons place the neighborhood in the top quartile for both violent and property offense safety, indicating a comparatively safer position nationwide. Recent data also shows a year-over-year improvement in violent incidents, which supports a stable operating backdrop from an investor perspective.
This 24-unit property benefits from steady neighborhood occupancy, a sizable renter pool, and a suburban setting with everyday amenities. According to CRE market data from WDSuite, the area s rent-to-income profile remains manageable, which supports retention and collections while implying measured near-term pricing power. The asset s 1990 construction is newer than much of the surrounding housing stock, offering relative competitiveness and potential value-add through selective renovations.
Demographic data aggregated within a 3-mile radius shows recent population growth and a faster rise in households, with projections indicating continued expansion and smaller average household sizes. For investors, this points to ongoing renter pool expansion that can support occupancy stability and leasing velocity, even as local home values remain accessible and create some competition with ownership options.
- Balanced occupancy and renter depth support stable cash flow
- 1990 vintage out-positions older local stock; targeted upgrades can drive NOI
- 3-mile radius shows population and household growth, aiding absorption
- Pricing context: manageable rent-to-income; ownership costs sustain multifamily demand
- Risks: below-national school ratings, limited pharmacy access, and modest near-term pricing power