| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 12th | Poor |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 408 W Railroad St, Pembroke, NC, 28372, US |
| Region / Metro | Pembroke |
| Year of Construction | 2006 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
408 W Railroad St, Pembroke NC Multifamily Opportunity
Neighborhood occupancy and renter concentration point to a durable tenant base, according to WDSuite’s CRE market data, with positioning that favors steady leasing over the cycle.
The property sits in an Inner Suburb neighborhood of the Lumberton, NC metro that is rated A and ranks 8 out of 70 metro neighborhoods — a top quartile location locally for investors assessing relative fundamentals. Neighborhood occupancy is 91.5% and ranks 19 of 70, which is competitive among Lumberton neighborhoods and supports baseline stability for multifamily assets.
Renter-occupied housing accounts for 57.2% of neighborhood units (ranked 2 of 70), indicating a deep renter pool and good depth for leasing and renewals. Median contract rents in the neighborhood are on the lower end versus national peers, while the value-to-income ratio sits in a high national percentile, which together suggest a high-cost ownership market relative to local incomes that can reinforce reliance on multifamily housing.
Local amenity access is mixed. Grocery and restaurant density rank 5 of 70 for both, and cafés rank 2 of 70, offering everyday convenience. Park and pharmacy access are limited in this neighborhood (both rank 70 of 70), and average school ratings track below national norms, factors to consider when targeting tenant segments. These dynamics can influence marketing, amenity programming, and lease retention strategies.
Demographic statistics aggregated within a 3-mile radius show recent population and household contraction, but forecasts point to a modest increase in households alongside smaller average household sizes. That shift typically expands the renter pool and can support occupancy stability even without significant population growth, based on CRE market data from WDSuite.
Vintage matters for competitive positioning. With construction in 2006 versus a neighborhood average vintage of 1983, this asset skews newer than much of the local stock, which can reduce near-term capital expenditure exposure while still leaving room for selective modernization to sharpen its edge against older comparables.
Neighborhood-level safety metrics are not reported for this area in WDSuite’s dataset at this time. Investors should benchmark asset performance and insurance assumptions against broader Lumberton, NC trends and property-specific history rather than block-level inferences.
WDSuite does not report nearby employer distances for this address at this time; investors typically supplement with local employment mapping to evaluate commute convenience and leasing resilience.
This 60-unit property built in 2006 is newer than much of the surrounding stock, giving it a competitive position against older assets while keeping capital plans focused on selective upgrades rather than full-system replacements. Neighborhood occupancy is competitive within the Lumberton metro and the renter-occupied share is high, supporting day-one leasing depth and renewal prospects. Within a 3-mile radius, forecasts indicate household growth alongside smaller household sizes, which generally expands the renter pool and supports occupancy stability. According to CRE market data from WDSuite, local ownership remains relatively costly versus incomes, which tends to sustain rental demand, though it also elevates affordability pressure considerations.
Key considerations include managing rent-to-income levels, below-average school ratings, and thinner park/pharmacy access, all of which inform pricing power, marketing, and resident-experience planning. Average unit sizes are compact, positioning the asset toward efficiency-oriented renters; aligning finishes and amenities to this tenant profile can bolster absorption and retention.
- 2006 vintage vs. older neighborhood stock supports relative competitiveness and moderate near-term capex
- Competitive neighborhood occupancy and high renter concentration backfill leasing and renewals
- 3-mile outlook shows more households and smaller sizes, expanding the renter pool and supporting stability
- Ownership costs relative to incomes reinforce reliance on rentals, aiding demand durability
- Risks: affordability pressure (manage rent-to-income), lower school ratings, and limited parks/pharmacies may weigh on pricing power