| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 40th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 352 Red Wing Ln, Wilmington, NC, 28403, US |
| Region / Metro | Wilmington |
| Year of Construction | 1990 |
| Units | 78 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
352 Red Wing Ln, Wilmington NC Multifamily Investment
Positioned in an amenity-rich inner suburb of Wilmington, this 78-unit asset offers exposure to a deep renter pool and value-add potential, according to CRE market data from WDSuite. Neighborhood occupancy trends are softer than the metro, so underwriting should prioritize leasing strategy and operational execution.
The property sits in an inner-suburban pocket rated A- and competitive among Wilmington neighborhoods (ranked 20th of 78). Restaurant, grocery, park, and pharmacy access rank near the top of the metro, supporting day-to-day convenience and renter appeal. School ratings in the neighborhood score below national averages, which may matter less for smaller-household segments prevalent locally.
For investors, the neighborhood’s renter-occupied share is among the highest in the metro (ranked 5th of 78), signaling a sizable tenant base and consistent leasing demand for multifamily. Neighborhood contract rents benchmark around the metro midpoint, helping sustain absorption while still requiring attention to affordability and lease management.
Occupancy at the neighborhood level is below most Wilmington areas and in a lower national percentile, indicating a need for focused leasing, competitive positioning, and asset-specific marketing. The average construction vintage in the area is late-1980s; this property’s 1990 vintage is slightly newer, suggesting typical capital planning for building systems with potential value-add or modernization to outperform older nearby stock.
Demographic statistics within a 3-mile radius show households have grown in recent years and are projected to expand further, even as average household size trends smaller. This combination typically supports a larger tenant base for apartments and steady demand for smaller formats. Elevated home values relative to incomes (high national percentile for value-to-income) indicate a high-cost ownership market, which tends to reinforce rental demand and can aid lease retention and pricing power when managed carefully as part of multifamily property research.
Safety indicators are mixed. The neighborhood’s overall crime rank sits mid-pack for Wilmington (37th of 78), with national percentiles signaling below-average safety compared to many U.S. neighborhoods. Recent trends show an improvement in violent incidents year over year, while property crime pressure remains an operational consideration. Investors typically respond with standard measures such as lighting, access controls, and resident engagement, aligned to the asset’s positioning and tenant profile.
Nearby employment includes advanced manufacturing that supports local renter demand and commute convenience, specifically the employer listed below.
- Corning Optical Fiber Wilmington — advanced manufacturing (1.1 miles)
This 1990-vintage, 78-unit multifamily asset offers operational upside in a neighborhood with strong amenity access and a deep renter base. While neighborhood occupancy trails most Wilmington submarkets, renter concentration is among the metro’s highest, supporting a broad tenant pipeline. Within a 3-mile radius, households have increased and are projected to expand further, pointing to renter pool expansion as average household size trends smaller. Elevated ownership costs versus incomes suggest continued reliance on rentals, though rent-to-income levels warrant thoughtful lease management.
According to CRE market data from WDSuite, the area’s amenity density and competitive neighborhood ranking provide favorable fundamentals for demand, while safety indicators and softer neighborhood occupancy argue for hands-on operations and targeted capital projects. With selective renovations and modernization, a 1990 build can position competitively versus older nearby stock.
- High renter concentration supports depth of tenant base and leasing stability
- Amenity-rich location (restaurants, groceries, parks, pharmacies) enhances resident appeal
- Demographic outlook within 3 miles points to renter pool expansion and sustained demand
- Risks: softer neighborhood occupancy and safety variability require active management and targeted CapEx