| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 56th | Good |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1805 Legacy Park, Winston Salem, NC, 27103, US |
| Region / Metro | Winston Salem |
| Year of Construction | 2006 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1805 Legacy Park, Winston-Salem NC Multifamily Investment
Positioned in an inner-suburb pocket with strong renter concentration, the asset benefits from steady tenant demand even as neighborhood occupancy trends are mixed, according to WDSuite’s CRE market data. Investors should weigh demand depth against local leasing volatility at the neighborhood level.
The neighborhood carries an A rating and ranks 31 out of 216 Winston-Salem neighborhoods, placing it in the top quartile locally based on WDSuite’s commercial real estate analysis. Food-and-convenience access is a relative strength, with grocery and cafe density competitive among metro peers, supporting daily-living appeal for residents and reducing friction for leasing.
The area skews renter-heavy, with a high share of renter-occupied housing units at the neighborhood level, indicating a larger tenant base and potential for demand stability. Median contract rents in the neighborhood sit in the mid-range for the metro, and rent-to-income levels suggest manageable affordability for many households, which can aid retention and limit turnover pressure.
Within a 3-mile radius, demographic data point to modest population growth and an expected increase in households over the next five years, translating to a gradually expanding renter pool. Household incomes have been rising, which supports effective rent collections and measured pricing power, while the projected reduction in average household size may favor multifamily formats.
Home values in the neighborhood are lower compared with many areas nationally, which can make ownership more accessible and introduce competition for renters considering buying. That dynamic tempers pricing upside but can be offset by product quality and convenience. Built in 2007, the property is newer than the neighborhood’s average vintage (1992), providing competitive positioning versus older stock; investors should still plan for mid-life system upgrades and selective modernization to sustain performance.
Schools in the area average around 3 out of 5 and rank 28 of 216 within the metro, indicating above-median education access relative to Winston-Salem peers. Park access is limited locally, which may matter for some resident segments; however, dining and pharmacy access test above the metro median and help support livability.
Safety indicators are mixed and should be underwritten thoughtfully. The neighborhood’s crime rank is 123 out of 216 metro neighborhoods (higher ranks indicate fewer issues), suggesting it is not among the safer parts of Winston-Salem. Nationally, safety percentiles are on the lower side, placing the area below many neighborhoods across the country.
Recent trends show some improvement in violent incidents year over year, while property-related offenses have been more volatile. For investors, this implies prudent security measures and resident communication can be relevant to leasing and retention strategies, and comparable underwriting should use neighborhood-level data rather than block-by-block assumptions.
Proximity to anchor employers supports a diversified employment base and commuter convenience for residents. Notable nearby headquarters include BB&T Corp., Reynolds American, and Hanesbrands, with VF farther out in the regional job shed.
- BB&T Corp. — banking (3.1 miles) — HQ
- Reynolds American — tobacco/consumer goods (3.3 miles) — HQ
- Hanesbrands — apparel (9.0 miles) — HQ
- VF — apparel & footwear (27.2 miles) — HQ
This 2007-vintage, 102-unit asset offers scale and a renter-oriented location where daily conveniences, schools above the metro median, and proximity to corporate employers underpin demand. The property’s newer vintage relative to the neighborhood average supports competitive positioning versus older stock, while mid-life capital planning can target building systems and unit finishes to enhance leasing velocity and rent resilience. According to CRE market data from WDSuite, the surrounding neighborhood shows a high share of renter-occupied housing and mid-range rent levels, which help sustain occupancy even as broader neighborhood occupancy trends have softened.
Within a 3-mile radius, household growth and rising incomes point to a gradually expanding and higher-earning renter base, supporting collections and measured rent growth. Balanced underwriting should account for ownership alternatives given comparatively lower home values locally, limited park access, and safety perceptions, while leaning into commute convenience and product quality to differentiate.
- Newer 2007 vintage vs. local average supports competitive positioning with targeted modernization upside
- High neighborhood renter concentration indicates demand depth and supports occupancy stability
- 3-mile area shows household growth and rising incomes, reinforcing tenant base and collections
- Near major employers (banking, consumer goods, apparel) aiding leasing and retention
- Risks: softer neighborhood occupancy trends, limited parks, and safety perceptions warrant conservative underwriting