| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 72nd | Best |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2320 41st St, Wilmington, NC, 28403, US |
| Region / Metro | Wilmington |
| Year of Construction | 1989 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2320 41st St Wilmington NC Multifamily Opportunity
Positioned in a suburban pocket of Wilmington where elevated home values and a sizable renter base support steady demand, according to WDSuite s CRE market data. Neighborhood occupancy and rents track near metro norms, suggesting durable leasing fundamentals without relying on outsized growth assumptions.
This suburban Wilmington neighborhood scores A overall and ranks 10th out of 78 metro neighborhoods, placing it in the competitive tier locally. Amenity access is balanced: cafes and groceries land in the top quartile nationally, which helps drive day-to-day convenience valued by renters and supports leasing traction.
Home values in the area are elevated relative to incomes (high national percentile), which typically sustains reliance on multifamily housing and can bolster tenant retention. At the same time, neighborhood rent levels sit near the metro median, and the rent-to-income profile indicates manageable affordability pressure from an investor perspective — together, these dynamics point to stable pricing power rather than volatility.
Renter demand is underpinned by demographics aggregated within a 3-mile radius: the population has grown modestly, households have increased, and WDSuite s data indicates further growth in households ahead. A higher renter-occupied share within this radius signals a deep tenant base, which can support occupancy stability through cycles.
Neighborhood schools average around mid-to-upper performance locally (competitive among Wilmington neighborhoods), an attribute that can aid family-oriented renter retention. While park and pharmacy density are limited within the neighborhood, everyday services are supported by grocery and cafe access, and contract rents and occupancy are broadly in line with metro trends.
Safety conditions are mixed: relative to neighborhoods nationwide, this area trends below the national median for safety, while it sits roughly around the metro median within Wilmington (78 neighborhoods). Recent data also points to year-over-year increases in both property and violent offenses, so investors should underwrite with prudent assumptions around security, loss prevention, and insurance costs.
Nearby employment helps support renter demand via short commutes to industrial and corporate operations highlighted below.
- Corning Optical Fiber Wilmington — advanced manufacturing (3.8 miles)
The investment case centers on steady renter demand supported by a competitive neighborhood profile, elevated ownership costs that reinforce reliance on rentals, and neighborhood NOI performance that ranks among the stronger cohorts locally. Occupancy and rents align near metro averages, which, according to CRE market data from WDSuite, suggests durable cash flow without depending on aggressive growth assumptions.
Demographic trends within a 3-mile radius point to continued household growth and a substantial renter-occupied housing share, expanding the tenant base and supporting leasing stability. Key underwriting considerations include a below-national-median safety profile and limited park/pharmacy density, warranting attention to security measures, insurance, and amenity strategy.
- Competitive neighborhood ranking with balanced amenity access and strong local NOI performance
- Elevated ownership costs sustain multifamily demand and aid retention
- Household growth within 3 miles supports a larger tenant base and occupancy stability
- Rents and occupancy near metro norms favor consistent cash flow over pro-cyclical spikes
- Risks: below-national-median safety and limited park/pharmacy density call for prudent security and amenity planning