| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Best |
| Demographics | 19th | Fair |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1130 Furman Dr, Lumberton, NC, 28358, US |
| Region / Metro | Lumberton |
| Year of Construction | 1997 |
| Units | 48 |
| Transaction Date | 2019-07-12 |
| Transaction Price | $1,150,000 |
| Buyer | Chestnut Place Harmony Housing LLC |
| Seller | --- |
1130 Furman Dr, Lumberton NC Multifamily Opportunity
Neighborhood renter concentration and everyday amenity access support stable demand at this 48-unit asset, according to WDSuite’s CRE market data, though local occupancy trends warrant hands-on leasing and retention management.
Located in an Inner Suburb of Lumberton, the property benefits from practical conveniences that matter for resident retention. Within the metro, grocery, restaurant, park, and pharmacy access rank competitive among Lumberton neighborhoods (ranks 6, 6, 1, and 3 out of 70), placing the area above the metro median for daily needs and recreation. Nationally, these amenities sit in mid-to-upper percentiles, indicating serviceable coverage without relying on long commutes.
The neighborhood shows a high share of renter-occupied housing (65.3%, top decile nationally), signaling depth in the tenant base for multifamily operators. By contrast, neighborhood occupancy is below the metro median (rank 47 of 70), which suggests operators should emphasize leasing velocity, renewals, and resident services to sustain performance relative to regional peers.
Demographic statistics are aggregated within a 3-mile radius. Over the last five years, the local population edged down while household counts increased, implying smaller household sizes and a modest expansion of the renter pool. Forward-looking estimates point to continued household growth with a slightly higher renter share, which should support occupancy stability even as overall population trends remain soft.
Home values in the neighborhood are relatively low for the region, and the value-to-income ratio sits in the middle range. This ownership landscape can introduce some competition from entry-level buying but also helps sustain reliance on rental housing. With median contract rents still accessible and rent-to-income around the upper-20s percent, investors should monitor affordability pressure as part of lease management and renewal strategy.
The property was built in 1997, slightly newer than the neighborhood’s average 1993 vintage. This positioning can offer a competitive edge versus older stock while still requiring capital planning for building systems and interior upgrades to meet modern renter expectations.
Comparable neighborhood crime data are not available in WDSuite for this location. Without consistent ranks or national percentiles, investors typically benchmark safety using city and county sources, property-level incident logs, and daytime/nighttime activity observations to place trends in context with regional norms.
A prudent approach is to review recent public reports, speak with local operators, and align security measures with resident profile and leasing strategy, then reassess as new data are released.
This 48-unit, 1997-vintage asset in Lumberton sits in a neighborhood with strong renter concentration and practical amenity access that helps support day-to-day livability. According to CRE market data from WDSuite, the area’s amenity ranks are competitive within the metro, while neighborhood occupancy trends are below the median—pointing to an operational story focused on leasing execution, renewals, and service quality. The nearby housing market remains a high-cost-ownership alternative relative to local incomes only in select segments, which can reinforce renter reliance on multifamily housing and support pricing discipline when paired with careful affordability and retention management.
Demographics aggregated within a 3-mile radius show household counts rising despite softer population trends, implying smaller households and a gradually widening tenant base. The 1997 vintage provides a platform for targeted value-add or system modernization that can improve competitive positioning versus older inventory, with scope to balance rent levels against resident affordability to maintain occupancy stability.
- Renter-heavy neighborhood supports depth of demand and leasing resiliency.
- Competitive amenity access (grocery, parks, pharmacies) aids retention and daily convenience.
- 1997 vintage offers value-add and system-upgrade pathways versus older local stock.
- Household growth within 3 miles expands the tenant base even as population softens.
- Risk: Neighborhood occupancy trails metro median—requires focused leasing and renewal management.