| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 67th | Good |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4501 Prior Dr, Wilmington, NC, 28412, US |
| Region / Metro | Wilmington |
| Year of Construction | 1997 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4501 Prior Dr Wilmington Multifamily Value-Add Opportunity
Neighborhood occupancy is solid and renter demand is durable, according to WDSuite’s CRE market data, with area ownership costs supporting stable leasing. With a 1997 vintage, the asset may benefit from targeted upgrades to capture incremental returns.
The property sits in an Inner Suburb of Wilmington that ranks competitive among 78 metro neighborhoods, supported by strong day-to-day convenience. Amenity access scores above national averages, with restaurants, cafes, groceries, and pharmacies indicating a well-served location that supports resident retention and leasing velocity.
Measured for the neighborhood (not the property), occupancy is in the mid‑90s and above many U.S. areas, signaling steady rent rolls. The share of housing units that are renter-occupied is elevated for the metro, indicating a deep tenant base and consistent multifamily demand rather than reliance on marginal households.
Within a 3‑mile radius, population and households have grown in recent years, with forecasts pointing to further increases through 2028. This expansion, coupled with rising household incomes, supports a larger tenant base and underpins occupancy stability. Where rent-to-income remains manageable by national standards, lease management can focus on retention and selective pricing power.
Home values in the neighborhood are elevated relative to incomes by national benchmarks, creating a high‑cost ownership market. For investors, this dynamic typically sustains reliance on rental housing, supporting demand depth for professionally managed multifamily. These fundamentals align with a positive long‑term outlook based on commercial real estate analysis from WDSuite.
Neighborhood safety metrics indicate conditions that are mixed versus national norms: overall safety sits below the U.S. midpoint, but recent trends show property offenses easing year over year while violent offense measures have been more variable. These figures are neighborhood‑level indicators intended for comparative context across the Wilmington metro’s 78 neighborhoods, not block‑level conditions at the property.
For underwriting, investors often account for neighborhood‑level variability by emphasizing visibility, lighting, and access control in capital plans, and by benchmarking performance against comparable Wilmington submarkets over time.
Employment access is supported by proximity to advanced manufacturing and materials, which can bolster workforce housing demand and retention for residents commuting within the Wilmington area. The following nearby employer is representative of the area’s job base.
- Corning Optical Fiber Wilmington — advanced manufacturing (7.1 miles)
This 38‑unit, 1997‑built asset is positioned in a Wilmington neighborhood with competitive amenity access and steady renter demand. Neighborhood occupancy has trended healthy and the share of renter‑occupied housing units is high for the metro, supporting depth of the tenant base. Elevated ownership costs by national benchmarks reinforce reliance on rental housing, while rent levels and rent‑to‑income ratios suggest manageable affordability pressure that can support retention. According to CRE market data from WDSuite, these neighborhood fundamentals compare favorably to many U.S. areas.
The 1997 vintage is older than the neighborhood’s average construction year, pointing to value‑add potential through modernization of interiors, exteriors, and building systems. With continued 3‑mile population and household growth expected through 2028, demand tailwinds should support stabilized operations, provided capital planning addresses competitive positioning and any safety‑adjacent site improvements.
- Healthy neighborhood occupancy and strong renter concentration support demand depth
- High‑cost ownership market sustains rental reliance and pricing power potential
- 3‑mile growth in population and households expands the tenant base
- 1997 vintage offers value‑add and system modernization upside
- Risks: neighborhood safety variability and capex needs require proactive management