| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Good |
| Demographics | 26th | Poor |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 South St, Wilkesboro, NC, 28697, US |
| Region / Metro | Wilkesboro |
| Year of Construction | 2000 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
215 South St, Wilkesboro — 45-Unit 2000 Multifamily
Neighborhood occupancy trends in the mid-80s and a renter concentration near one-third, according to WDSuite’s CRE market data, point to a stable tenant base. The 2000 vintage offers competitive positioning versus older local stock.
This Wilkesboro address sits in a neighborhood rated A and ranked 6 out of 36 in the North Wilkesboro metro—top quartile among metro neighborhoods—indicating strong relative fundamentals, based on CRE market data from WDSuite. The area skews Rural, with everyday needs met by a modest mix of groceries, parks, and dining; cafes and restaurants are competitive nationally (around the 60s–70s percentiles), while pharmacy access is limited.
Multifamily demand is supported by a renter-occupied share around one-third of housing units, which is competitive among North Wilkesboro neighborhoods (rank 5 of 36) and above many areas nationally. Neighborhood occupancy is in the mid-80s, suggesting generally steady leasing conditions; investors should still plan for normal turnover and active renewal management.
Within a 3-mile radius, population and household counts have grown in recent years, with WDSuite indicating continued population growth ahead—supportive of a larger tenant base and occupancy stability. Median contract rents remain accessible relative to incomes (rent-to-income roughly in the mid-teens), which can aid retention and reduce move-out pressure, though it may temper near-term rent growth outperformance.
Home values are lower than many national markets, implying a more accessible ownership landscape. For multifamily investors, that can introduce competition from ownership options, so positioning on convenience, finishes, and professional management becomes important for lease retention. School ratings in the neighborhood trend below national averages, which could modestly weigh on family-driven demand; this generally favors workforce and value-oriented positioning.
Vintage matters locally: the average neighborhood construction year skews older (mid-1960s), and this asset’s 2000 construction provides a relative edge versus older stock. Investors should still budget for mid-life capital items and selective modernization to sustain competitiveness.
Comparable, property-specific crime statistics are not available in this dataset. At the neighborhood level, WDSuite does not report a crime rank for this area within the 36-neighborhood North Wilkesboro metro, so investors should evaluate broader municipal and county trend data and rely on standard due diligence (police reports, site surveys) for a complete picture.
Given the neighborhood’s overall top-quartile metro standing, area conditions appear competitive versus many nearby neighborhoods, but safety can vary by block and over time. Framing risk comparatively—city and county trends, plus property-level security and lighting—remains prudent during underwriting.
Built in 2000 with 45 units, the property offers a relative age advantage versus an older local base while benefitting from a neighborhood ranked in the top quartile among 36 metro neighborhoods. According to WDSuite’s commercial real estate analysis, renter concentration around one-third and neighborhood occupancy in the mid-80s support baseline demand, with accessible rents aiding retention and lease stability. Population and households within 3 miles are expanding, which should gradually deepen the tenant pool and support consistent leasing.
Key considerations include competition from relatively accessible homeownership, below-average school ratings that could modestly constrain family-driven demand, and the need to plan for mid-life capital improvements. Targeted unit upgrades and operational focus can position the asset to capture steady workforce demand and maintain competitive standing versus older nearby stock.
- 2000 vintage competes well against older neighborhood stock; plan capex for mid-life systems.
- Top-quartile neighborhood rank within a 36-neighborhood metro indicates resilient local fundamentals.
- Renter concentration and mid-80s occupancy support stable leasing and renewal potential.
- Growing 3-mile population and households expand the tenant base over time.
- Risks: accessible ownership alternatives, below-average school ratings, and ongoing capital planning needs.