| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 44th | Fair |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 201 Wilkes Dr, Monroe, NC, 28110, US |
| Region / Metro | Monroe |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | 2020-01-09 |
| Transaction Price | $2,750,000 |
| Buyer | STONEHENGE APARTMENT PARTNERS LLC |
| Seller | STONEHENGE APARTMENTS LLC |
201 Wilkes Dr Monroe NC Multifamily Investment
Older 1972 vintage in a suburban Monroe location where neighborhood occupancy trends are steady and above national midpoints, according to WDSuite’s CRE market data. The area’s ownership costs are elevated for the metro, supporting durable renter demand for well-managed assets.
Monroe sits within the Charlotte–Concord–Gastonia metro and this neighborhood carries a B rating, ranking 286 out of 709 metro neighborhoods—above the metro median. Neighborhood occupancy is reported at 92.2% (neighborhood metric, not the property), which WDSuite indicates is modestly above national midpoints and supportive of stable leasing.
The property’s 1972 construction is older than the neighborhood’s average vintage (1997). For investors, this typically points to capital planning and potential value‑add upside through unit renovations and system upgrades to stay competitive versus newer stock.
Livability is serviceable with restaurants and cafes scoring above national medians, while parks, pharmacies, and formal childcare are thinner locally. Home values in the neighborhood sit in a higher national percentile, and value‑to‑income ratios trend elevated for the metro; in practice, this high‑cost ownership market tends to sustain multifamily demand and can support pricing power when paired with sound asset management.
Demographic indicators are aggregated within a 3‑mile radius. The renter-occupied share is roughly on par with owner-occupied, providing a broad tenant base. Recent history shows limited population change, but WDSuite’s outlook points to an increase in households over the next five years, implying a larger renter pool and additional support for occupancy and renewals.
Safety trends should be evaluated with care. This neighborhood compares below national safety medians (crime national percentile in the 30s), and ranks below the metro average (422 out of 709) for crime. Property offenses have eased year over year, according to WDSuite, which is a constructive directional signal, but investors should underwrite security measures and operating practices appropriate for the submarket.
Proximity to greater Charlotte’s employment core supports commuter access and renter retention. Notable nearby employers include corporate headquarters and major offices such as Sonic Automotive, Nucor, Airgas, Bank of America, and Cisco.
- Sonic Automotive — corporate HQ (18.6 miles) — HQ
- Nucor — corporate HQ (19.6 miles) — HQ
- Airgas — corporate offices (22.3 miles)
- Bank of America Corp. — corporate HQ (22.8 miles) — HQ
- Cisco Systems — corporate offices (22.8 miles)
201 Wilkes Dr offers 50 units in a suburban Monroe setting with steady neighborhood occupancy and a renter base supported by comparatively higher ownership costs. The 1972 vintage suggests a clear value‑add path via interior modernization and building systems, positioning the asset to compete against newer stock while capturing demand from commuters tied to Charlotte’s employment centers. Based on CRE market data from WDSuite, neighborhood performance sits above metro medians in several housing indicators, and household growth in the surrounding 3‑mile radius is expected to expand the tenant base over the medium term.
Key considerations include thinner park and childcare amenities and safety metrics that trail national medians, warranting prudent underwriting and property operations. With disciplined upgrades and rent management aligned to local affordability, the asset can target durable occupancy and income growth relative to the submarket.
- Older 1972 vintage presents value‑add potential through renovations and selective system upgrades.
- Neighborhood occupancy is steady and modestly above national medians, supporting leasing stability.
- Elevated ownership costs in the area reinforce reliance on rental housing and support pricing power.
- Access to Charlotte HQ employers underpins commuter demand and retention.
- Risks: below-median safety metrics and thinner neighborhood amenities call for robust operations and thoughtful capex.