| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 20th | Poor |
| Amenities | 16th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 154 Hill Everhart Rd, Lexington, NC, 27295, US |
| Region / Metro | Lexington |
| Year of Construction | 1978 |
| Units | 62 |
| Transaction Date | 2018-10-12 |
| Transaction Price | $3,200,000 |
| Buyer | CEP Lexington Park, LLC |
| Seller | Lexington Park Apartments LLC |
154 Hill Everhart Rd Lexington Multifamily Investment
Renter demand is supported by a majority renter-occupied housing mix within a 3-mile radius and attainable rents that aid retention, according to WDSuite’s CRE market data. Proximity to Winston-Salem employers adds leasing depth despite softer neighborhood occupancy.
Located in suburban Lexington within the Winston-Salem metro, the property sits in a neighborhood that ranks below the metro median among 216 neighborhoods on overall performance (D rating), per WDSuite. Local retail and lifestyle options are limited in the immediate area, with few cafes, parks, or pharmacies nearby, though basic grocery access is present. Investors should assume residents rely on regional corridors for services and employment, which can still support workforce housing demand.
Within a 3-mile radius, demographics indicate population and household growth over the past five years, with further gains projected by 2028. A renter-occupied share around one-half of housing units suggests a sizable tenant base and supports leasing velocity and renewal potential. Growth in households points to a larger pool of prospective renters, which can help stabilize occupancy through cycles.
Neighborhood occupancy is measured at 81.5% and trails stronger core submarkets. However, rent-to-income levels in the area are moderate, which can reduce affordability pressure and support renewal rates. Median home values are comparatively low for the region, meaning ownership is more accessible than in high-cost metros; for multifamily investors, that typically moderates pricing power but can still sustain steady demand for more accessible rental options.
Vintage context matters: the asset’s 1978 construction is newer than the neighborhood’s average year (1968). That positioning provides a relative edge versus older local stock, while still leaving room for targeted renovations and system upgrades to enhance competitiveness and capture incremental rent premiums.
Safety indicators are competitive among Winston-Salem neighborhoods: the area ranks 33 out of 216 on WDSuite’s crime index, placing it above the metro median and in the top half nationally. Violent offense rates are comparatively favorable versus many U.S. neighborhoods (top quartile nationally), while property-related incidents sit closer to national mid-to-better ranges.
Year over year, WDSuite shows a modest improvement in violent offense rates, while property offense trends increased. For investors, this mixed pattern favors prudent on-site security measures and lighting upgrades as part of capital planning, especially during exterior or common-area improvements.
Regional employers within commuting distance help underpin renter demand, particularly for workforce housing tied to corporate and operations roles. Notable nearby anchors include BB&T Corp., Reynolds American, Hanesbrands, VF, and Sysco.
- BB&T Corp. — financial services (17.6 miles) — HQ
- Reynolds American — consumer products (tobacco) (17.8 miles) — HQ
- Hanesbrands — apparel (24.1 miles) — HQ
- VF — apparel & footwear (30.9 miles) — HQ
- Sysco — food distribution (37.4 miles)
This 62-unit, 1978-vintage asset with average unit sizes near 895 sq. ft. offers a value-add opportunity positioned against older neighborhood stock. Within a 3-mile radius, population and households have grown with additional gains projected, expanding the tenant base and supporting occupancy stability. Rent levels relative to local incomes indicate manageable affordability pressure, reinforcing renewal potential, according to CRE market data from WDSuite.
Counterpoints include a neighborhood occupancy rate that trails stronger submarkets and limited immediate amenities, which place a premium on competitive finishes, maintenance, and curb appeal. Proximity to major Winston-Salem employers and a renter-occupied housing mix near half of units in the surrounding area help balance these risks and support steady leasing.
- 1978 vintage is newer than local average, allowing value-add upgrades to outcompete older stock
- 3-mile demographic growth expands the renter pool and supports occupancy over time
- Moderate rent-to-income dynamics aid retention and lease management
- Commutable access to Winston-Salem anchor employers underpins workforce demand
- Risks: submarket occupancy below stronger cores and sparse nearby amenities require active asset management