| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 32nd | Poor |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1250 Kingston Pl, Thomasville, NC, 27360, US |
| Region / Metro | Thomasville |
| Year of Construction | 2000 |
| Units | 60 |
| Transaction Date | 2019-07-16 |
| Transaction Price | $2,450,000 |
| Buyer | Harmony Housing Advisors, Inc. |
| Seller | --- |
1250 Kingston Pl Thomasville Multifamily Investment
2000-vintage, 60-unit asset positioned in an inner-suburb pocket of Thomasville where renter concentration supports demand; according to WDSuite’s CRE market data, neighborhood occupancy has trended upward, aiding leasing stability.
Situated in the Winston-Salem metro’s inner suburbs, the area around 1250 Kingston Pl balances everyday convenience with approachable rents. Neighborhood contract rents sit below national medians yet have increased over the past five years, signaling room for disciplined revenue growth while helping retention by keeping affordability pressures manageable. The average school rating is on the lower side for the metro, which investors should factor into marketing and tenant profile assumptions.
Amenity access is mixed: restaurants are in the top quartile among 216 metro neighborhoods (rank 27 of 216), and groceries and pharmacies are competitive among Winston-Salem neighborhoods (ranks 55 and 21 of 216, respectively). Childcare availability also performs in the top quartile (rank 29 of 216). By contrast, parks and cafés are limited locally, so on-site amenities and community programming can help differentiate the asset.
The neighborhood’s renter-occupied share is high for the metro and above national norms, indicating a deeper tenant base and stable demand for multifamily product. Neighborhood occupancy is around nine-tenths and has improved over the last five years, which supports underwriting for steady lease-up and renewal performance at the property level while still requiring active lease management.
Demographics within a 3-mile radius show a recently stable-to-soft population trend but with projections pointing to future population growth and a notable increase in households alongside smaller average household sizes. That combination generally expands the renter pool and supports occupancy stability for well-maintained assets. With a 2000 construction year versus an older neighborhood average vintage, the property should be relatively competitive against legacy stock, though targeted system updates or light renovations may still be accretive.
Safety metrics for the surrounding neighborhood compare favorably to many areas nationwide, and recent year-over-year trends indicate notable declines in both property and violent offenses. While conditions can vary block to block, the broader direction is positive based on CRE market data from WDSuite. Investors should continue to monitor local trendlines and coordinate with management on lighting, access control, and resident engagement to sustain performance.
Regional headquarters and major employers within commuting distance help underpin renter demand and lease retention, particularly for workforce and professional households. Notable nearby employers include BB&T Corp., Reynolds American, Hanesbrands, VF, and Laboratory Corp. of America.
- BB&T Corp. — banking (16.4 miles) — HQ
- Reynolds American — tobacco consumer goods (16.6 miles) — HQ
- Hanesbrands — apparel (22.7 miles) — HQ
- VF — apparel & footwear (24.2 miles) — HQ
- Laboratory Corp. of America — diagnostics (40.7 miles) — HQ
This 60-unit property, built in 2000, competes against an older neighborhood stock, offering a relative quality and systems advantage versus assets closer to the area’s 1960s average vintage. Neighborhood occupancy has risen over the past five years and renter concentration is elevated, supporting a deeper tenant base and steadier leasing. Based on multifamily property research from WDSuite, rents remain accessible versus national levels, which can support retention while leaving measured room for future revenue management.
Proximity to several regional headquarters broadens the commuter pool, and 3-mile demographics point to projected population growth and a meaningful increase in household counts with smaller average household size—dynamics that typically expand the renter pool and support occupancy stability. Counterweights include lower average school ratings and a relatively accessible ownership market in parts of the metro, which can temper pricing power and warrants conservative renewal strategies and amenity-driven differentiation.
- 2000 vintage competes well versus older neighborhood stock; selective upgrades can further enhance positioning
- Elevated neighborhood renter-occupied share supports a deeper tenant base and steady leasing
- Upward neighborhood occupancy trend and accessible rents bolster retention and revenue management
- Nearby HQ employers expand the commuter pool and support stabilized demand
- Risks: lower school ratings and potential competition from ownership options require disciplined pricing and amenity strategy