| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 25th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1393 Chestnut Plains Ct, Winston Salem, NC, 27105, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | 2006-10-03 |
| Transaction Price | $740,000 |
| Buyer | N & N PROPERTIES OF THE TRIAD INC |
| Seller | 1393 CHESTNUT PLAINS CT LLC |
1393 Chestnut Plains Ct Winston-Salem Multifamily Investment
Stabilized renter demand and proximity to major employers position this 24-unit, 1990-vintage asset to compete against older local stock, according to WDSuite’s CRE market data. The key investor angle is durable workforce housing demand with potential value-add through selective modernization.
The property sits in an Inner Suburb pocket of Winston-Salem where neighborhood performance is mixed but serviceable for workforce rentals (neighborhood rating C+; rank 148 out of 216 metro neighborhoods). Rents in the immediate neighborhood benchmark on the lower side nationally, supporting leasing depth, while the rent-to-income profile signals active lease management to sustain retention and pricing.
Amenity access is uneven: restaurants and cafes are sparse locally (ranked near the bottom in the metro), yet grocery options are comparatively convenient (grocery density ranks 23 out of 216), and park access is a relative strength (national amenity percentile for parks ~87th). This combination supports daily needs and recreation even if dining variety is limited.
Tenure patterns favor multifamily: the share of housing units that are renter-occupied is high for the metro (51.1% renter concentration; rank 24 of 216), pointing to a broad tenant base for apartment operators. Neighborhood occupancy trends run below the metro median (rank 150 of 216), so operators may prioritize renewals and targeted marketing to maintain stability.
Vintage dynamics are favorable to this asset. With much of the neighborhood housing stock averaging from 1943, the 1990 construction positions the property as newer than nearby comparables—typically a competitive edge on unit finishes and systems. Investors should still underwrite aging mechanicals and common-area refreshes as part of a practical value-add plan.
Within a 3-mile radius, demographics show modest population growth over the past five years and a larger increase in household counts, indicating smaller household sizes and a gradually expanding renter pool. Projections point to continued population and household growth, which supports occupancy stability and leasing velocity for well-managed properties engaged in ongoing multifamily property research.
Ownership context skews toward renter reliance: local home values sit on the lower end nationally, but the value-to-income ratio ranks in the upper tier within the metro (15 of 216), suggesting ownership can still be a stretch for many households. For investors, this typically sustains reliance on rentals and can aid lease retention, with pricing power contingent on unit quality and management execution.
Safety indicators are mixed and warrant standard risk controls. Among Winston-Salem neighborhoods, the area’s crime rank (57 out of 216) indicates higher exposure than many local peers, and national positioning sits below the midpoint. However, recent trends are directionally positive: estimated violent offense rates declined by roughly 45% year over year, and property offenses also moved lower. Operators commonly address this profile through lighting, access control, and community standards to support resident satisfaction.
For investors, the takeaway is comparative rather than block-specific: safety performance trails stronger suburban submarkets but is improving on recent measures. Monitoring trend momentum and aligning operating practices with resident expectations can help protect occupancy and renewal outcomes over time.
Nearby headquarters and corporate offices anchor the local employment base, supporting commute convenience and steady renter demand for workforce-oriented units. Notable employers include Reynolds American, BB&T Corp., Hanesbrands, and VF.
- Reynolds American — tobacco products HQ (0.9 miles) — HQ
- BB&T Corp. — banking HQ (1.2 miles) — HQ
- Hanesbrands — apparel HQ (5.5 miles) — HQ
- VF — apparel & footwear HQ (24.8 miles) — HQ
1393 Chestnut Plains Ct offers a 1990-vintage, 24-unit footprint positioned newer than much of the surrounding housing stock, creating a relative competitiveness edge against older comparables while leaving room for targeted renovations. High renter concentration in the neighborhood supports a wide tenant base, though local occupancy sits below the metro median—making renewals, unit quality, and service levels central to performance.
Within a 3-mile radius, modest population growth and a larger increase in households point to an expanding renter pool over time, which can help sustain demand and leasing velocity. Based on CRE market data from WDSuite, grocery and park access are strengths, while limited dining and service amenities suggest value in on-site conveniences and resident engagement. Underwriting should account for affordability pressures and standard safety measures, with value-add upside through system updates and finishes typical of late-1980s/1990 assets.
- 1990 vintage newer than local stock—competitive positioning with practical renovation upside
- High renter-occupied share supports depth of tenant base and leasing durability
- 3-mile demographics indicate population and household growth, aiding occupancy stability
- Proximity to multiple corporate HQs supports workforce demand and retention
- Risks: neighborhood occupancy below metro median, affordability pressure, and safety monitoring require active management