| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 51st | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1321 Sycamore Dr, Lexington, NC, 27295, US |
| Region / Metro | Lexington |
| Year of Construction | 1987 |
| Units | 78 |
| Transaction Date | 2002-08-13 |
| Transaction Price | $10,600,000 |
| Buyer | NNC Sycamore Villas LLC |
| Seller | Newport Properties LLC |
1321 Sycamore Dr, Lexington NC Multifamily Opportunity
Neighborhood occupancy sits near the mid-90s and is competitive within the Winston-Salem metro, according to WDSuite’s CRE market data, suggesting steady renter demand for a 78-unit, 1987-vintage asset. Affordability looks manageable relative to local incomes, supporting retention and day-to-day leasing stability.
Lexington’s rural-edge location provides quieter surroundings but limited immediate retail and services; amenity density ranks at the bottom of the metro (216 of 216 neighborhoods), so residents will rely on driving for groceries, dining, and daily needs. For investors, that means positioning the property with on-site conveniences and parking to support a car-oriented lifestyle.
The neighborhood’s apartment occupancy is 93.8% (neighborhood metric, not property-specific) and is competitive among Winston-Salem neighborhoods (rank 70 of 216). This points to stable utilization even with a thinner renter pool, a dynamic that aligns with commercial real estate analysis emphasizing location fundamentals over amenity proximity in lower-density areas.
Tenure skews heavily owner-occupied: the neighborhood’s renter-occupied share is about 16% (neighborhood metric), indicating a smaller renter base. For multifamily investors, this implies more targeted marketing and potential lease-up pacing considerations, but also less direct competition from neighboring rental stock and the possibility of stable tenancy once households are in place.
Within a 3-mile radius, recent years show notable population and household growth, expanding the local renter pool. Forward-looking estimates point to households continuing to rise while population normalizes and average household size trends lower—conditions that can still support occupancy stability as more, smaller households seek housing options.
Homeownership remains relatively accessible in this area, reinforced by a low value-to-income ratio and a rent-to-income ratio near 9% at the neighborhood level. For investors, that translates to two-sided implications: pricing power may be tempered by attainable ownership alternatives, but rents appear sustainable against incomes, which can aid renewal capture and limit turnover shock.
The property’s 1987 construction is newer than the neighborhood’s older housing stock (average 1956). Relative to much of the surrounding inventory, this positioning can be competitive, though investors should still plan for systems modernization and targeted renovations to drive rent premiums and control near-term capital needs.
Comparable neighborhood-level safety data are not reported in this dataset. At the metro level, safety conditions vary across Winston-Salem’s urban and rural tracts, and rural settings like this area typically see lower activity density. Investors should corroborate current conditions through local law enforcement summaries, recent incident trends, and property-specific history before underwriting.
Regional employment anchors within commuting range support workforce housing demand and retention, led by finance, consumer products, food distribution, home improvement, and apparel headquarters and offices listed below.
- BB&T Corp. — finance (24.3 miles) — HQ
- Reynolds American — consumer products (24.6 miles) — HQ
- Sysco — food distribution (27.4 miles)
- Lowe's — home improvement (28.4 miles) — HQ
- Hanesbrands — apparel (29.8 miles) — HQ
1321 Sycamore Dr offers a 78-unit, 1987-vintage profile that is relatively newer than much of the surrounding housing stock, providing a competitive starting point for value-add upgrades. Neighborhood occupancy of 93.8% (neighborhood metric) sits in a competitive range within the Winston-Salem metro, and recent 3-mile household growth suggests a broader tenant base even as the area remains predominantly owner-occupied.
Affordability is favorable relative to local incomes, and median rents have room to normalize over time, according to CRE market data from WDSuite. That supports renewal capture and day-to-day leasing stability, while acknowledging tempered pricing power given accessible homeownership and limited immediate amenities. Targeted renovations and professional management can focus on retention and operational efficiency rather than aggressive rent push.
- Competitive neighborhood occupancy with steady renter demand (metro rank indicates solid positioning)
- 1987 vintage offers value-add and systems modernization opportunities versus older local stock
- Household growth within 3 miles expands the local tenant base and supports retention
- Favorable rent-to-income dynamics support sustainable renewals and occupancy stability
- Risks: ownership-dominated market and limited nearby amenities may temper pricing power and lease-up velocity