| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 67th | Best |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 Western Villa Dr, Clemmons, NC, 27012, US |
| Region / Metro | Clemmons |
| Year of Construction | 1973 |
| Units | 33 |
| Transaction Date | 2016-12-19 |
| Transaction Price | $1,800,000 |
| Buyer | WESTERN VILLA PROPERTIES LLC |
| Seller | A H LIVING TRUST |
114 Western Villa Dr Clemmons Multifamily Investment
Positioned in a top-ranked suburban pocket of the Winston-Salem metro, the property benefits from steady neighborhood occupancy and an expanding renter base, according to WDSuite’s CRE market data. Expect durable demand drivers with room for operational improvement rather than outsized volatility.
Clemmons is a suburban location with an A+ neighborhood rating (ranked 8 of 216 within the Winston-Salem metro), indicating competitive fundamentals for multifamily. Neighborhood occupancy is 94.2% and has edged higher in recent years, a supportive backdrop for lease stability; these figures reflect the neighborhood, not this specific property, based on CRE market data from WDSuite.
Within a 3-mile radius, households have grown while average household size has trended lower, expanding the renter pool and broadening the tenant base. Renter-occupied housing accounts for roughly 29% of units in this 3-mile area, suggesting a meaningful but not saturated renter concentration that supports absorption without overreliance on turnover.
Daily-life amenities are accessible: grocery and pharmacy density ranks above the metro median, and cafes and childcare options are competitive among Winston-Salem neighborhoods. Park access is limited locally, so on-site open space and property amenities can play a larger role in retention. Public schools average 4.0 out of 5 (ranked 9 of 216), placing performance in the top quartile nationally and enhancing family-oriented leasing appeal.
For context on pricing power and affordability, neighborhood median contract rents sit near the metro middle while the rent-to-income ratio is also favorable, reinforcing the potential for steady renewals. Median home values are elevated for the metro but not extreme by national standards, which tends to support renter reliance on multifamily housing without sharply eroding the rental demand base.
The asset’s 1973 construction is older than the neighborhood’s average vintage (1996), signaling potential value-add or modernization pathways to sharpen competitive positioning versus newer stock, alongside prudent capital planning for systems and interiors.
Safety indicators for the surrounding neighborhood track below the national median (37th percentile nationwide) and are below the metro median (ranked 84 of 216), per WDSuite’s data. Recent-year shifts show increases in both property and violent offenses at the neighborhood level; operators typically address this with lighting, access control, and coordination with local resources to support resident experience.
Comparatively, investors should underwrite with conservative assumptions, monitor trend lines rather than single-year moves, and recognize that safety outcomes can vary by block and property operations. The figures cited here are neighborhood-wide and not specific to the asset.
Nearby corporate offices in finance and consumer goods underpin a stable professional employment base and commute convenience for residents. Key employers include BB&T Corp., Reynolds American, Hanesbrands, VF, and Lowe's.
- BB&T Corp. — financial services (8.6 miles) — HQ
- Reynolds American — consumer products (8.8 miles) — HQ
- Hanesbrands — apparel (11.7 miles) — HQ
- VF — apparel & lifestyle brands (33.4 miles) — HQ
- Lowe's — home improvement retail (43.9 miles) — HQ
114 Western Villa Dr offers a 33-unit footprint in an A+ suburban neighborhood where occupancy is solid and household growth within a 3-mile radius supports a larger tenant base. The 1973 vintage is older than nearby stock, creating a clear value-add and modernization angle to compete with newer assets while maintaining a basis that can support targeted upgrades. According to CRE market data from WDSuite, neighborhood rent levels and rent-to-income dynamics sit in a range conducive to retention-focused operations rather than aggressive turnover.
Forward indicators are constructive: population and household counts within 3 miles are projected to rise, which typically supports occupancy stability and leasing velocity. Balanced ownership costs in the area reinforce sustained renter reliance on multifamily housing, while proximity to multiple corporate headquarters broadens the pool of creditworthy tenants. Key risks include neighborhood safety trends and the capex profile inherent to a 1970s build, both manageable with disciplined operations and capital planning.
- A+ suburban location (rank 8 of 216) with stable neighborhood occupancy supporting lease retention
- 1973 vintage positions the asset for value-add and modernization to enhance competitiveness
- Expanding 3-mile renter pool and proximity to major HQs support demand depth and leasing velocity
- Neighborhood rent and rent-to-income dynamics favor renewal strategies over heavy churn
- Risks: below-median neighborhood safety trend and 1970s capex needs require active management