| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 63rd | Best |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 407 Partridge Ln, Kernersville, NC, 27284, US |
| Region / Metro | Kernersville |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | 2021-01-05 |
| Transaction Price | $685,000 |
| Buyer | GINKGO WOODBINE LLC |
| Seller | ELKINS PROPERTIES FAMILY LP |
407 Partridge Ln Kernersville 20-Unit Multifamily Opportunity
Neighborhood occupancy is competitive among Winston-Salem neighborhoods and renter demand is supported by solid suburban amenities, according to WDSuite s CRE market data. For investors, the setup suggests durable leasing with measured pricing power rather than outsized volatility.
Kernersville s inner-suburban setting offers daily convenience that supports renter retention. Amenity access trends above national norms (restaurants and cafes in particular), positioning the area as service-rich without the congestion of core urban nodes, based on CRE market data from WDSuite.
The neighborhood s overall rating sits near the top of the Winston-Salem metro (ranked 9th among 216 neighborhoods), indicating competitive fundamentals for a small asset like a 20-unit property. Occupancy in the surrounding neighborhood is strong and competitive among Winston-Salem neighborhoods, reinforcing stability for smaller assets that rely on steady lease roll.
Tenure patterns point to a meaningful renter base: roughly two-fifths of housing units in the neighborhood are renter-occupied. For multifamily, that depth helps keep the tenant pipeline active and supports ongoing absorption, while the rent-to-income profile suggests affordability is manageable, which can aid renewal rates but may moderate near-term rent growth.
Within a 3-mile radius, demographics show population and household counts rising in recent years, with further household growth projected. A slightly smaller average household size underscores demand for apartment living and helps broaden the renter pool, which can support occupancy stability through cycles.
Home values in this submarket are lower than in high-cost coastal metros, which can create some competition from entry-level ownership. Even so, elevated mortgage costs relative to local incomes continue to sustain reliance on rental options, supporting retention and steady leasing for well-managed properties.
Safety indicators are mixed. Compared with the Winston-Salem metro, the neighborhood s crime rank (42nd of 216) suggests higher crime exposure than many peers, so underwriting should incorporate conservative assumptions for security and loss mitigation.
Nationally, the area trends around the middle of the pack (roughly the 53rd percentile), with violent incidents comparatively favorable (around the 64th percentile nationally) and improving year over year. Property-related offenses have risen recently, so operators may want to emphasize lighting, access control, and resident engagement to support retention.
Proximity to major corporate offices in Winston-Salem underpins a diversified employment base and commute convenience for renters, notably in tobacco products, banking, apparel, and diagnostics.
- Reynolds American — tobacco products (9.5 miles) — HQ
- BB&T Corp. — banking (9.6 miles) — HQ
- Hanesbrands — apparel (11.7 miles) — HQ
- VF — apparel & footwear (15.5 miles) — HQ
- Laboratory Corp. of America — diagnostics (35.7 miles) — HQ
The property s 1977 vintage is newer than the neighborhood s older housing stock, providing a competitive edge versus mid-century assets while still warranting selective system upgrades and common-area refreshes to enhance rentability. Neighborhood occupancy is competitive among Winston-Salem peers and the renter concentration provides a dependable tenant base, according to CRE market data from WDSuite. Within 3 miles, rising households and a broad middle-income profile point to continued demand for well-managed, mid-market units.
Investors should weigh steady local employment anchors and amenity access against mixed safety signals and the potential for competition from ownership options. Balanced asset management modest capital plans, thoughtful leasing, and operational controls can position a 20-unit property to capture stable cash flows while preserving downside protection.
- Competitive neighborhood occupancy supports steady leasing
- 1977 vintage offers relative edge over older stock with targeted value-add potential
- 3-mile radius shows growing households and a broad middle-income renter base
- Proximity to major employers supports retention and reduces commute friction
- Risks: mixed safety metrics and some competition from ownership options