| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 53rd | Good |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1219 Churton St, Winston Salem, NC, 27103, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1977 |
| Units | 47 |
| Transaction Date | 2022-08-30 |
| Transaction Price | $5,100,000 |
| Buyer | TERRA ON CHURTON APARTMENTS LLC |
| Seller | CHURTON PLACE APARTMENTS 2 LLC |
1219 Churton St, Winston-Salem Multifamily Investment
Neighborhood fundamentals point to durable renter demand, with renter-occupied housing around the mid-50% range and neighborhood occupancy near the low-80s, according to WDSuite’s CRE market data. This positioning supports stable leasing for a 47-unit asset in an inner-suburban location.
Situated in an Inner Suburb of Winston-Salem, the neighborhood carries an A rating and ranks 14 out of 216 metro neighborhoods, making it competitive among Winston-Salem neighborhoods. Amenity access is a relative strength: restaurant density ranks 6 of 216 (top quartile nationally), cafes rank 11 of 216, groceries rank 13 of 216, and parks rank 7 of 216 — each competitive among metro peers. Pharmacy access is limited, with a 216 of 216 rank locally.
For investors screening multifamily, the renter-occupied share of housing units is about 56% in the neighborhood, indicating a sizable tenant base that can support demand depth and leasing velocity. Neighborhood occupancy is 83.4% and has trended up over the last five years — these metrics are measured for the neighborhood, not the property — which supports expectations for steady absorption and retention management.
Within a 3-mile radius, population and households have grown in recent years, and households are projected to expand further even as average household size trends lower. This points to a larger number of smaller households, which typically supports multifamily demand and occupancy stability. Median contract rents in the neighborhood have risen over the past five years, while the rent-to-income ratio remains near 0.22, suggesting measured affordability pressure and room for disciplined pricing strategy.
Ownership costs in the neighborhood are elevated relative to local incomes (high value-to-income ratio at the neighborhood level, top decile nationally), which tends to sustain reliance on rental options and can bolster tenant retention. At the same time, the neighborhood’s housing stock skews older (average vintage around 1964; 177 of 216 locally), creating ongoing opportunities for renovation-driven differentiation by well-capitalized assets.
Safety indicators are mixed and should be evaluated alongside property-specific measures. The neighborhood’s crime rank is 126 out of 216 within the Winston-Salem metro, placing it below the metro median, and national percentiles indicate the area sits below the national median for safety. Property and violent offense rates, on a national comparison, fall in lower percentiles, so proactive security, lighting, and resident engagement plans may be prudent.
Investors should focus on trend direction and on-site controls rather than block-level assumptions. Comparative framing suggests this submarket is more exposed to reported incidents than stronger-performing peer areas, but risk can vary by micro-location and asset operations.
Nearby headquarters and corporate offices anchor a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants. Key employers include BB&T Corp., Reynolds American, Hanesbrands, and VF.
- BB&T Corp. — banking (1.5 miles) — HQ
- Reynolds American — consumer products/tobacco (1.7 miles) — HQ
- Hanesbrands — apparel (7.8 miles) — HQ
- VF — apparel & footwear (25.8 miles) — HQ
This 47-unit asset, built in 1977, is newer than the neighborhood’s older average vintage, positioning it competitively versus surrounding stock while leaving room for targeted modernization of systems and finishes. Neighborhood-level occupancy is 83.4% and renter concentration is about 56%, reinforcing a durable tenant base and the potential for consistent leasing, according to CRE market data from WDSuite. Elevated ownership costs in the area support renter reliance, which can aid retention and pricing power when paired with thoughtful capital planning.
Within a 3-mile radius, recent gains in population and households — with projections indicating further household growth alongside smaller household sizes — point to a broader renter pool over time. Neighborhood rents have risen over the past five years, yet rent-to-income remains measured, allowing for disciplined revenue management while keeping an eye on affordability pressure. Taken together, demand depth, relative vintage positioning, and proximity to anchor employers support a pragmatic, long-term multifamily thesis.
- Newer-than-area vintage (1977) supports competitive positioning with defined value-add and systems upgrades potential.
- Neighborhood occupancy (83.4%) and mid-50% renter-occupied share indicate depth for stable leasing at the submarket level.
- Household growth and smaller household sizes within 3 miles expand the renter pool and support occupancy stability over time.
- Elevated ownership costs relative to incomes reinforce sustained demand for rental housing and potential retention benefits.
- Risk: Safety metrics are below the metro median; underwriting should incorporate on-site security and operating controls.