| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 10th | Poor |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 172 Highland Ave, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1981 |
| Units | 108 |
| Transaction Date | 2019-06-28 |
| Transaction Price | $4,860,000 |
| Buyer | SOUTHGATE ASSOCIATES II LP |
| Seller | SOUTHGATE A PARTNERSHIP |
172 Highland Ave, Winston-Salem NC Multifamily Investment
Positioned near Downtown Winston-Salem with a large renter base and improving neighborhood occupancy; mid-cycle upside appears supported by nearby employment and 3-mile household growth, according to WDSuite’s CRE market data.
This Inner Suburb neighborhood carries a C+ rating and skews renter-oriented, with a high share of renter-occupied housing that signals depth in the tenant base for multifamily. Neighborhood occupancy trends have improved over the last five years, which can aid leasing stability even if the current level sits below the metro median.
Amenity access is mixed. Restaurants and daily-needs retail are relatively convenient, with restaurant density in the top quartile among 216 metro neighborhoods and grocery/pharmacy access also in the top quartile. By contrast, parks and cafes are sparse locally, so residents rely more on downtown and adjacent districts for lifestyle amenities.
Vintage context matters for competitive positioning. The property’s 1981 construction is newer than the neighborhood’s average 1972 stock, suggesting relative appeal versus older assets while still leaving room for targeted system updates or unit renovations to drive rent premiums.
Within a 3-mile radius, demographic statistics indicate modest population growth and a larger increase in household counts historically, with forecasts pointing to continued household expansion. This pattern typically expands the renter pool and can support occupancy stability and lease-up velocity. Neighborhood rents remain relatively accessible and the rent-to-income environment suggests manageable affordability pressure, which can bolster retention.
Relative performance versus the metro: amenity access is competitive among Winston-Salem neighborhoods, while overall neighborhood fundamentals rank below the metro median. For investors, that mix points to steady workforce demand buffered by proximity to downtown employment nodes, with value-add execution as a potential lever.
Safety indicators for this neighborhood trend weaker than both metro and national benchmarks, placing it below the metro median among 216 Winston-Salem neighborhoods and in lower national percentiles. That said, recent data shows a year-over-year decline in violent offenses, while property-related incidents have ticked up. Conditions can vary block to block; investors often prioritize on-site security, lighting, and community engagement to support resident experience.
Proximity to major downtown employers supports workforce housing demand and commute convenience, notably in tobacco, banking, and branded apparel. The following headquarters and offices are within practical reach and help underpin renter demand and retention.
- Reynolds American — tobacco (0.59 miles) — HQ
- BB&T Corp. — banking/financial services (0.65 miles) — HQ
- Hanesbrands — apparel (6.61 miles) — HQ
- VF — apparel (24.38 miles) — HQ
- Laboratory Corp. of America — diagnostics (44.56 miles) — HQ
172 Highland Ave is a 108-unit, 1981-vintage asset near Downtown Winston-Salem. The neighborhood is renter-heavy, supporting tenant depth for multifamily, and occupancy has trended upward over the past five years even if it remains below the metro median. Within a 3-mile radius, households have increased and are projected to grow further, indicating a larger renter pool that can support leasing and revenue durability. According to CRE market data from WDSuite, nearby daily-needs access is strong for groceries and pharmacies, while restaurants rank among the better concentrations in the metro.
For positioning, the 1981 vintage is newer than the area’s average stock, offering a competitive edge versus older properties while leaving value-add potential in interiors and building systems. Rents remain relatively accessible in this submarket, which can aid retention and leasing velocity; however, investors should underwrite for neighborhood safety initiatives and acknowledge that ownership costs are comparatively accessible in parts of the metro, which can create some competition with entry-level ownership.
- Renter-heavy neighborhood supports depth of demand and occupancy stability
- 1981 construction newer than local average, with clear value-add and modernization angles
- Strong proximity to major employers downtown underpins leasing and retention
- Accessible rent environment supports leasing velocity and renewals
- Risks: below-metro safety profile and some competition from entry-level homeownership