| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 65th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 206 Cedar Branch Ln, Wilmington, NC, 28403, US |
| Region / Metro | Wilmington |
| Year of Construction | 2013 |
| Units | 104 |
| Transaction Date | 2013-12-01 |
| Transaction Price | $17,000,000 |
| Buyer | Gateway Preiss Camden, LLC |
| Seller | Camden Forest Student Housing, |
206 Cedar Branch Ln Wilmington Multifamily Investment
Newer 2013 construction in an amenity-rich inner suburb with a deep renter base suggests durable demand, according to WDSuite’s CRE market data.
This property sits in an A-rated, Inner Suburb neighborhood of Wilmington that ranks 7 out of 78 metro neighborhoods, placing it in the top quartile locally. The setting offers daily convenience, with grocery access ranked first among 78 neighborhoods and restaurant and café density competitive metro-wide, supported by national percentiles in the mid-90s. These location fundamentals typically aid leasing velocity and retention for workforce and lifestyle renters.
Neighborhood occupancy is measured for the neighborhood, not the property, and has trended upward over the past five years, reinforcing stable renter demand. A high share of housing units are renter-occupied, indicating a sizable tenant pool that can support multifamily absorption and ongoing leasing activity. While nearby park access is limited, everyday services (grocery, pharmacies, childcare) are abundant and help offset open-space trade-offs for many residents.
Within a 3-mile radius, demographics show a modest population dip in recent years alongside an increase in households, pointing to smaller household sizes and a broader renter pool. Forward-looking projections indicate population and household growth, which would expand the local tenant base and support occupancy stability. Home values in the area are elevated relative to local incomes, and rent-to-income metrics signal some affordability pressure; for investors, this underscores the need for thoughtful lease management while also indicating that a high-cost ownership market can sustain reliance on multifamily housing.
Construction in the neighborhood skews older than this asset (average 1987), so the 2013 vintage provides competitive positioning versus much of the local stock. Neighborhood-level NOI per unit performance is competitive among Wilmington neighborhoods (ranked near the top among 78), suggesting that operators in this area have historically translated location advantages into solid income metrics, based on CRE market data from WDSuite.
Safety conditions in this neighborhood compare below national averages and are below the metro median (crime rank 47 out of 78 Wilmington neighborhoods). National percentile readings indicate the area sits in lower safety tiers versus neighborhoods nationwide. Recent year-over-year estimates point to increases in both property and violent offenses, so prudent risk management (lighting, access controls, and resident engagement) is important for operators.
Investors should evaluate property-level measures and historical trend lines rather than block-level assumptions. Framing safety comparatively to the broader Wilmington metro and national benchmarks helps set expectations for insurance, security budgets, and leasing strategies without overstating conditions.
Proximity to advanced manufacturing supports renter demand and commute convenience, with access to Corning’s regional operations noted below.
- Corning Optical Fiber Wilmington — advanced manufacturing (1.4 miles)
Built in 2013, the 104-unit asset is newer than much of the surrounding housing stock, offering competitive positioning and potentially lower near-term capital needs, while still benefitting from targeted updates over time. The neighborhood’s amenity depth, high renter-occupied share, and steady occupancy trends point to durable leasing, according to CRE market data from WDSuite. Within a 3-mile radius, forecasts show growth in population and households, expanding the tenant base and supporting occupancy stability.
Key considerations include rent-to-income levels that suggest some affordability pressure and safety metrics that trail metro medians. Operators who pair disciplined leasing and expense controls with selective value-add (modernizations and common-area upgrades) can compete effectively against older nearby stock and capture retention benefits from the location’s strong daily convenience.
- 2013 vintage offers competitive positioning versus older neighborhood stock with manageable near-term capex planning.
- Amenity-rich inner suburb with strong grocery, dining, and services supports leasing velocity and retention.
- High renter-occupied concentration and upward-trending neighborhood occupancy signal depth of tenant demand.
- 3-mile forecasts indicate population and household growth, expanding the renter pool and supporting occupancy stability.
- Risks: below-median metro safety and rent-to-income pressures call for prudent security, leasing, and renewal strategies.