| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 34th | Poor |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 125 Ferrell Heights Ct, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 2000 |
| Units | 56 |
| Transaction Date | 2019-06-19 |
| Transaction Price | $2,300,000 |
| Buyer | ANDREWS HEIGHTS ESSENTIAL HOUSING LLC |
| Seller | ANDREWS HEIGHTS HARMONY HOUSING LLC |
125 Ferrell Heights Ct Winston-Salem Multifamily Investment
Positioned in an inner-suburban pocket with a sizable renter base, the property benefits from nearby household growth that supports leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy trends are softer, but a deeper 3-mile renter pool and improving income mix point to stable demand for well-managed multifamily units.
Located in Winston-Salem’s inner suburbs, the neighborhood is rated B- and sits around the metro middle among 216 neighborhoods. Local living patterns favor renters: about half of neighborhood housing units are renter-occupied, and within a 3-mile radius renters comprise roughly three-fifths of occupied units, indicating a broad tenant base for multifamily operators.
Lifestyle access is mixed. Parks density ranks in the upper tiers metro-wide and is top quartile nationally, while restaurants and grocery access are competitive. However, cafes and pharmacies are sparse locally. For investors, this combination suggests practical daily conveniences with selective amenity gaps that may influence resident preferences and marketing positioning.
The property’s 2000 construction is newer than the neighborhood’s average vintage (late 1960s). That relative youth can be a competitive edge versus older stock, though systems and interiors may still require targeted capital to remain current with renter expectations and to support retention.
Demand signals show a nuanced picture. Neighborhood occupancy runs softer than national norms, so lease-up and renewal strategies should be proactive. Offsetting this, 3-mile demographics show population growth over the past five years, a projected increase in households, and a trend toward smaller household sizes—factors that can expand the renter pool and support occupancy stability. Median home values in the neighborhood are lower in absolute terms, yet the value-to-income ratio sits in a higher national percentile, indicating a high-cost ownership market relative to local incomes that can reinforce reliance on rental housing. At the same time, a high rent-to-income ratio locally points to affordability pressure—an important consideration for pricing power and renewal management.
Overall, based on CRE market data from WDSuite, the submarket combines a sizable renter concentration and growing 3-mile household counts with amenity strengths in parks and daily retail access. Investors should underwrite with attention to affordability-sensitive rent growth and operational execution given softer neighborhood occupancy benchmarks.
Safety metrics trend below national averages for comparable neighborhoods, and conditions are near the metro middle. Recent signals show mixed movement: estimated violent offense rates have declined year over year, while property offenses have increased over the same period. For investors, this suggests monitoring building security, lighting, and resident engagement, while benchmarking trends against Winston-Salem peers rather than block-level assumptions.
The area draws from a diverse employment base that supports workforce housing demand and commute convenience, anchored by financial services, consumer goods, and apparel headquarters, plus regional diagnostics operations.
- Reynolds American — consumer goods/tobacco (1.5 miles) — HQ
- BB&T Corp. — financial services (1.7 miles) — HQ
- Hanesbrands — apparel (6.2 miles) — HQ
- VF — apparel & footwear (23.5 miles) — HQ
- Laboratory Corp. of America — diagnostics lab services (43.8 miles) — HQ
This 56-unit, 2000-vintage multifamily asset offers relative competitiveness versus older neighborhood stock, with proximity to established employers and a renter-tilted housing landscape. Within a 3-mile radius, population growth, a projected increase in households, and smaller household sizes indicate a larger tenant base over time—factors that can support occupancy stability when paired with disciplined operations. According to CRE market data from WDSuite, neighborhood occupancy benchmarks are softer, so underwriting should emphasize retention, targeted upgrades, and expense control rather than outsized rent growth assumptions.
Ownership dynamics further support renter demand: elevated value-to-income ratios point to a high-cost ownership market relative to incomes, which can sustain reliance on rental housing. At the same time, local rent-to-income levels signal affordability pressure, suggesting a focus on unit mix, concessions strategy, and renewal management to maintain leasing momentum.
- Newer 2000 vintage versus neighborhood average, with potential to outperform older competition via selective upgrades
- Large renter base locally and within 3 miles, with projected household growth supporting tenant demand
- Proximity to multiple headquarters and regional employers underpinning workforce housing demand
- Underwrite to softer neighborhood occupancy and affordability pressure; emphasize retention, pricing discipline, and operational efficiency