| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 64th | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 608 Montclair Dr, Wilmington, NC, 28403, US |
| Region / Metro | Wilmington |
| Year of Construction | 1983 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
608 Montclair Dr Wilmington Multifamily Investment
Neighborhood occupancy sits above the metro median, pointing to stable renter demand according to WDSuite’s CRE market data. With a strong renter presence nearby, this asset is positioned for consistent leasing in an inner-suburban setting.
The property sits in an Inner Suburb of Wilmington with a B+ neighborhood rating and a renter-occupied share that is high for the area (measured at the neighborhood level), reinforcing depth of the tenant base. Neighborhood occupancy is above the metro median among 78 Wilmington neighborhoods, a positive indicator for multifamily stability, based on WDSuite’s market read.
Amenity access skews toward food-and-beverage. Cafes and restaurants rank competitively among Wilmington neighborhoods, with national placement in the upper percentiles, while pharmacies are also comparatively accessible. By contrast, parks, groceries, and childcare show thinner local availability, which can modestly affect day-to-day convenience and may influence resident mix and length of stay.
At the neighborhood level, median contract rents sit in the upper portion of the national distribution, while rent-to-income signals some affordability pressure. For investors, this suggests pricing power exists but should be balanced with retention management and renewal discipline. The area’s housing stock skews slightly newer than the subject’s 1983 construction, pointing to value-add potential through targeted modernization that can sharpen competitiveness versus early-1990s vintage comparables.
Within a 3-mile radius, demographics indicate a larger renter pool in the near term: recent counts show a slight population dip historically but a projected population and household expansion through 2028, alongside smaller average household sizes. That combination typically broadens the renter base and supports occupancy, a useful backdrop for underwriting, per commercial real estate analysis from WDSuite.
Safety indicators for the neighborhood track below the national median, and relative to the Wilmington metro the area trends below the metro median as well (43rd of 78 neighborhoods). Property and violent incident rates benchmark in the lower national percentiles, signaling a need for prudent security expectations and tenant screening standards.
Recent year-over-year readings show a modest uptick at the neighborhood level. Investors typically account for these conditions through operational practices such as lighting, access controls, and coordination with local resources, while monitoring how the area compares with metro peers over time rather than block-level changes.
Nearby employment is anchored by established industrial and corporate operations that help support renter demand through commute convenience, led by Corning Optical Fiber.
- Corning Optical Fiber Wilmington — optical fiber operations (2.2 miles)
608 Montclair Dr offers scale at 48 units in an inner-suburban location where neighborhood occupancy runs above the metro median and renter concentration is elevated, supporting steady leasing. The 1983 vintage is older than the area’s early-1990s average, creating a clear value-add path through systems updates and interior refreshes to improve competitive positioning and rent capture. According to CRE market data from WDSuite, food-and-beverage access is a local strength while groceries and parks are thinner, guiding amenity strategy and resident targeting.
Within a 3-mile radius, projections point to population growth and a pronounced increase in households alongside smaller household sizes by 2028, which typically expands the renter pool and supports occupancy stability. Underwriting should balance these demand drivers with affordability pressure signals (rent-to-income near the higher side for the neighborhood) and safety readings that sit below national medians.
- Neighborhood occupancy above metro median supports leasing stability
- Elevated renter-occupied share indicates depth of tenant base
- 1983 vintage offers value-add and modernization opportunity versus newer nearby stock
- 3-mile projections show household growth and smaller household sizes, expanding renter pool
- Risks: below-median safety metrics and affordability pressures warrant conservative renewal strategy