| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 64th | Best |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 406 W Bodenhamer St, Kernersville, NC, 27284, US |
| Region / Metro | Kernersville |
| Year of Construction | 1975 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
406 W Bodenhamer St Kernersville Multifamily Investment
Neighborhood occupancy has held in the mid-90s, supporting steady renter demand and lease stability for well-managed assets, according to WDSuite’s CRE market data. Positioned in Kernersville between Winston-Salem and Greensboro, the property benefits from a diversified tenant base and commute connectivity.
Kernersville’s neighborhood context scores A- overall (ranked 53 among 216 Winston-Salem metro neighborhoods), with occupancy in the top quartile nationally and above the metro median. For investors, this translates into durable leasing fundamentals when paired with disciplined operations and competitive finishes.
The asset’s 1975 vintage is older than the neighborhood’s average construction year (1991). That age profile often necessitates capital planning for systems, exteriors, and interiors, but it can also create practical value-add pathways to improve competitive positioning versus newer stock while maintaining attainable rents.
Livability is balanced by limited retail density nearby (amenities score near the lower end nationally), yet park access tests strong (around the top quartile nationally), and average school ratings sit above the national median and are competitive among Winston-Salem neighborhoods (ranked 28 of 216). For investors, modest amenity depth may place more emphasis on on-site features and management, while park and school fundamentals help support family-oriented retention.
Tenure patterns suggest a moderate renter base: the neighborhood’s share of renter-occupied housing units is near one-third, while within a 3-mile radius, renters account for roughly a third of occupied units as well. This supports a stable pool of multifamily demand without oversaturation. Within a 3-mile radius, households have grown over the past five years with projections for further household expansion by 2028 alongside slightly smaller average household sizes—both dynamics that can widen the renter pool and support occupancy stability.
From a pricing context, neighborhood-level contract rents trend below national medians (25th percentile), and home values sit near the national middle. Combined with a favorable rent-to-income relationship (high national percentile), this supports resident retention and measured pricing power rather than aggressive rent spikes, aligning with long-term cash flow management.
Safety indicators are mixed. At the neighborhood level, overall crime benchmarks around the lower-middle nationally, but both violent and property offense levels compare better than average versus neighborhoods nationwide (national percentiles in the upper 60s). This positions the area as competitive among Winston-Salem neighborhoods for safety.
Recent year-over-year changes show volatility, with upticks in both violent and property offense estimates. Investors should monitor trend direction and submarket comps rather than relying on single-year movements. Relative to the metro, rankings place the neighborhood in a competitive tier (e.g., school safety-adjacent quality at rank 28 of 216 for the metro, and crime measures around rank 72 of 216), underscoring that location-specific performance can vary block to block and over time.
The employment base is anchored by major corporate headquarters in nearby Winston-Salem, providing a diversified set of white-collar jobs that can support renter demand and retention through commute convenience. Notable employers include Reynolds American, BB&T Corp., Hanesbrands, VF, and Laboratory Corp. of America.
- Reynolds American — tobacco & consumer goods HQ (9.5 miles) — HQ
- BB&T Corp. — banking & financial services (9.6 miles) — HQ
- Hanesbrands — apparel & consumer goods (11.1 miles) — HQ
- VF — apparel & lifestyle brands (15.7 miles) — HQ
- Laboratory Corp. of America — diagnostics & life sciences (36.0 miles) — HQ
This 104-unit asset in Kernersville benefits from neighborhood occupancy that remains above the metro median and in the top quartile nationally, supporting resilient leasing performance when combined with disciplined operations. Based on CRE market data from WDSuite, rent levels benchmark below national medians while rent-to-income indicators are favorable, creating room for measured rent growth with a focus on retention rather than turnover-driven strategies.
Built in 1975, the property is older than the area’s average vintage, suggesting the need for targeted capital expenditures. That age also creates clear value-add potential—modernizing interiors, energy systems, and common areas to enhance competitive positioning against newer stock. Within a 3-mile radius, household counts have increased and are projected to expand further by 2028, implying a larger tenant base and support for occupancy stability over the hold period.
- Occupancy strength above metro median with nationally competitive stability
- Favorable rent-to-income dynamics support retention and disciplined pricing
- 1975 vintage offers value-add potential via targeted renovations and system upgrades
- 3-mile household growth and projected expansion broaden the renter pool
- Risks: amenity depth is limited locally and recent safety trends are volatile—requires active asset and lease management