| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 65th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 205 Cedar Branch Ln, Wilmington, NC, 28403, US |
| Region / Metro | Wilmington |
| Year of Construction | 2013 |
| Units | 104 |
| Transaction Date | 2013-12-06 |
| Transaction Price | $17,000,000 |
| Buyer | Gateway Preiss Camden, LLC |
| Seller | Camden Forest Student |
205 Cedar Branch Ln, Wilmington — Newer 104-Unit Multifamily
Renter demand is supported by dense retail and daily-needs access, with neighborhood occupancy holding in a stable range according to WDSuite’s CRE market data. Amenity access and a diversified 3-mile renter base point to durable leasing, with pricing power best managed through careful affordability monitoring.
This Inner Suburb neighborhood rates in the top quartile among 78 metro neighborhoods (A overall), with notably strong daily-needs access. Grocery coverage ranks 1st of 78 and restaurants are competitive at 2nd of 78, while cafes and childcare density also place high versus peers. For a multifamily asset, that mix supports convenience-driven retention and broad appeal to working households.
The property’s 2013 vintage is newer than the neighborhood’s average stock (1987), which supports competitive positioning against older assets; investors should still plan for systems updates over the next hold to maintain finishes and operating efficiency. Neighborhood occupancy is 92.2% and has improved over the last five years, indicating steady demand conditions rather than outsized lease-up risk.
Within a 3-mile radius (aggregated), households have grown modestly even as population edged down, reflecting smaller household sizes and indicating a renter pool that can expand via household formation. Forecasts point to an increase in households and incomes by 2028, which would enlarge the tenant base and support occupancy stability. Median contract rents in the 3-mile area have risen over five years, aligning with Wilmington’s broader trend, while neighborhood NOI per unit ranks among the stronger cohorts in the metro, reinforcing operational potential for well-managed assets.
Tenure data within 3 miles shows an estimated 58% of housing units are renter-occupied, signaling a deep pool of prospective tenants and reinforcing demand for professionally managed multifamily. Home values are moderate in context, but the value-to-income profile suggests ownership remains a meaningful lift for many households; for investors, that tends to sustain reliance on multifamily rentals and can support lease retention, especially near abundant amenities.
Safety indicators are mixed. Compared with neighborhoods nationwide, this area sits below average on safety percentiles, and within the Wilmington metro it tracks below the median (ranked 47th among 78 neighborhoods). Recent one-year movements show property and violent offense rates rising, suggesting operators should factor security-conscious measures and resident engagement into asset plans.
For investors, the takeaway is risk management rather than a disqualifier: prioritize lighting, access controls, and partnerships with local resources, and underwrite to slightly higher operating contingencies to preserve leasing momentum and resident satisfaction.
Nearby employment anchors help support renter demand through short commutes for skilled and technical workers. The list below highlights a proximate corporate operation relevant to the area’s tenant base.
- Corning Optical Fiber Wilmington — corporate offices/advanced materials (1.4 miles)
This 104-unit asset benefits from a newer 2013 vintage in a convenience-rich Inner Suburb where neighborhood occupancy has trended upward and remains steady. Strong amenity concentration and a sizable renter-occupied housing base within 3 miles point to durable tenant demand and retention. According to CRE market data from WDSuite, the neighborhood ranks competitively on operations (NOI per unit) relative to many Wilmington peers, while continued income growth and an expanding household count in the 3-mile radius support forward leasing fundamentals.
Investor focus should be on calibrated rent setting and resident experience. The ownership-cost context supports ongoing reliance on rentals, but rent-to-income signals call for thoughtful lease management. Given the property’s newer construction versus the local average, capital planning can emphasize targeted modernization and preventative maintenance to sustain competitive positioning.
- Newer 2013 construction versus neighborhood average supports competitive positioning and lower near-term CapEx
- Dense grocery, restaurant, and daily-needs access (top ranks among 78 metro neighborhoods) supports retention
- 3-mile outlook shows increasing households and incomes, expanding the tenant base and supporting occupancy stability
- Operational upside tied to strong neighborhood NOI per unit, with value preserved through focused maintenance and amenity strategy
- Risks: below-average safety percentiles and affordability pressure require prudent security measures and rent management