| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 41st | Fair |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 181 N Wilkins Rd, Haw River, NC, 27258, US |
| Region / Metro | Haw River |
| Year of Construction | 1985 |
| Units | 41 |
| Transaction Date | 2022-09-30 |
| Transaction Price | $53,000 |
| Buyer | KANNAPOLIS PROPERTY OWNER LLC |
| Seller | ATLANTIC AMERICAN PROPERTIES INC |
181 N Wilkins Rd Haw River Value-Add Multifamily
Neighborhood occupancy trends are competitive within the Burlington metro, sitting in the top quartile among 53 local neighborhoods, according to WDSuite’s CRE market data. This positioning suggests steady renter demand for a 1985-vintage, 41-unit asset with room to modernize.
The property is in an Inner Suburb pocket of Haw River that WDSuite rates B+ and ranks 15th of 53 Burlington neighborhoods—competitive among Burlington neighborhoods. Neighborhood occupancy is also strong (top quartile locally and above the national median), a constructive signal for lease stability and renewal odds.
Livability is mixed but functional for workforce renters. Grocery access ranks 18th of 53 (competitive in the metro), while park access ranks 8th of 53 (top quartile locally and above the national median). Cafes and pharmacies are sparse within the immediate neighborhood, which may modestly affect walkable convenience but is typical for suburban locations in this metro.
Tenure patterns indicate a meaningful renter base: renter-occupied share is measured at the neighborhood level at roughly one-third of housing units and ranks 13th of 53 (top quartile locally), supporting depth of demand for multifamily. Median contract rents in the neighborhood track below national norms, and the rent‑to‑income ratio sits above the national median for affordability, together pointing to lower affordability pressure that can aid retention while tempering near-term pricing power.
Within a 3‑mile radius, population and households have expanded over the past five years, with WDSuite data indicating continued household growth alongside smaller average household size ahead. This combination typically supports renter pool expansion and steady absorption of well-priced units. Median home values in the neighborhood are lower than national averages, which can create some competition from ownership options, but also positions well-maintained rentals as accessible alternatives that can sustain occupancy.
Vintage matters for underwriting: with a 1985 construction year versus a neighborhood average construction year closer to the late 1990s, investors should plan for selective capital projects and interior refreshes to enhance competitiveness and capture value-add upside relative to newer stock.
WDSuite does not provide a published neighborhood crime rank for this location, so direct comparisons to the Burlington metro are unavailable. Investors should review current municipal reporting and owner/insurer requirements for a more precise view, and benchmark against nearby Inner Suburb peers rather than block-level anecdotes.
As with any suburban submarket, safety perceptions can vary by street and property management practices. Trend reviews and on-the-ground diligence are recommended to validate assumptions used in leasing and retention plans.
Proximity to established employers supports a broad commuter tenant base and leasing stability, notably in healthcare, apparel, and technology roles listed below.
- Laboratory Corp. of America — healthcare diagnostics (4.9 miles) — HQ
- VF — apparel & footwear (25.2 miles) — HQ
- Cisco Systems — technology (30.7 miles)
- Biogen Idec — biotechnology (31.5 miles)
- Quintiles Transnational Holdings — clinical research (32.1 miles) — HQ
This 41‑unit asset built in 1985 sits in a Burlington‑area neighborhood that ranks competitively among 53 local peers, with occupancy trends in the local top quartile. The vintage positions the property for targeted value‑add—interior updates and systems modernization—to compete against newer 1990s stock while leveraging steady renter demand. According to commercial real estate analysis from WDSuite, neighborhood-level rents remain relatively accessible versus national benchmarks and rent-to-income metrics point to manageable affordability pressure, supporting retention.
Within a 3‑mile radius, population and household growth—paired with smaller projected household sizes—indicate a larger tenant base over time, which can support occupancy and leasing velocity for well-managed units. Amenity depth is suburban (strong on parks, thinner on cafes and pharmacies), and home values are comparatively lower, suggesting some competition from ownership but also enduring reliance on quality rentals for convenience and flexibility.
- Competitive neighborhood rank and top-quartile local occupancy support cash flow stability
- 1985 vintage offers clear value-add pathways through renovations and selective capex
- Renter-occupied share (neighborhood-level) and growing 3-mile population deepen the tenant base
- Relative rent accessibility aids retention, with potential to optimize rents post-upgrade
- Risk: limited walkable amenities and more attainable homeownership can temper rent growth