| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 42nd | Good |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 Tampa St, Goldsboro, NC, 27534, US |
| Region / Metro | Goldsboro |
| Year of Construction | 2003 |
| Units | 38 |
| Transaction Date | 2002-12-01 |
| Transaction Price | $200,000 |
| Buyer | EWT 88 LLC |
| Seller | HUNTINGTON MANOR LLC |
1600 Tampa St, Goldsboro NC Multifamily Investment
Renter concentration is high in the surrounding neighborhood and everyday amenities rank among the metro s best, supporting stable tenant demand, according to WDSuite s CRE market data.
Located in an Inner Suburb of Goldsboro, the neighborhood carries an A+ rating and ranks 3rd out of 54 metro neighborhoods, indicating strong local fundamentals relative to peers. Amenity access is a clear advantage: grocery, childcare, and pharmacy density each rank at or near the top among 54 neighborhoods, placing the area in the top quartile nationally for overall amenity access. This depth of daily-needs retail can help support leasing velocity and resident retention for workforce-oriented assets.
The neighborhood s housing stock is older on average (1970), while the property s 2003 vintage is newer than typical nearby inventory. For investors, that generally implies more competitive positioning versus older stock and potentially lower near-term capital needs, while still allowing for selective value-add to modernize interiors and systems as part of disciplined asset management.
Unit tenure skew favors rentals: renter-occupied housing accounts for a substantial share of units in the neighborhood (ranked near the top of 54), signaling a deep tenant base and demand resilience for multifamily. Neighborhood occupancy is in the low-to-mid 80s and has softened versus five years ago, suggesting prudent underwriting on lease-up assumptions and a focus on operations to sustain occupancy stability.
Within a 3-mile radius, recent multifamily property research shows modest population contraction alongside a multi-year increase in total households and a projected further rise in households over the next five years. Smaller average household sizes and a larger household count point to a broader renter pool, which can support absorption and renewals even as population growth remains flat.
Home values in this area sit below national medians, which can introduce some competition from ownership. However, rent-to-income ratios remain manageable locally, supporting pricing power that is balanced with retention risk. Average school ratings trail national norms, so positioning the asset on convenience, value, and upgraded finishes may be more effective than school-driven leasing strategies.
Neighborhood safety trends are mixed but improving. Compared with neighborhoods nationwide, the area sits modestly above the national median for safety. More notably, both property and violent offense rates have shown meaningful year-over-year declines, with improvement pacing competitive among Goldsboro s 54 neighborhoods (including top-quartile gains in some categories). These trends suggest a directionally improving backdrop without assuming block-level conditions.
Investors should continue to track trendlines rather than single-year snapshots, using comparable submarkets across the Goldsboro metro for context on leasing, retention, and security planning.
Built in 2003 with 38 units averaging roughly 970 square feet, the property is newer than the neighborhood s 1970 average, offering a competitive edge versus older stock and potential for targeted value-add. Renter-occupied share is high in the surrounding neighborhood, and amenity access ranks among the strongest of Goldsboro s 54 neighborhoods, supporting everyday convenience and leasing durability. According to CRE market data from WDSuite, neighborhood occupancy sits below national medians, reinforcing the need for conservative lease-up and renewal assumptions while leaning on operational execution.
Within a 3-mile radius, households have increased despite flat population growth, and projections indicate further household gains ahead. That dynamic expands the tenant base and supports demand for rental units. Below-median home values may create some competition from ownership; however, manageable rent-to-income levels suggest room for sustainable rent growth when paired with measured upgrades and value-driven positioning.
- 2003 vintage offers competitive positioning versus older neighborhood stock with selective value-add potential
- High renter-occupied share and strong amenity access underpin depth of tenant demand
- Household growth within 3 miles supports a broader renter pool and occupancy stability
- Risk: neighborhood occupancy is softer than national norms requiring conservative underwriting and focused operations
- Risk: below-median home values may compete with rentals prioritize value-driven upgrades and retention strategies