| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 56th | Good |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1900 Falcon Pointe Dr, Winston Salem, NC, 27127, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1987 |
| Units | 48 |
| Transaction Date | 2014-04-04 |
| Transaction Price | $4,000,000 |
| Buyer | FALCON POINTE INVESTORS LLC |
| Seller | FALCON POINTE LP |
1900 Falcon Pointe Dr, Winston-Salem NC — Workforce Housing with Value-Add Upside
Neighborhood renter concentration and proximity to major employers suggest durable tenant demand, according to WDSuite’s CRE market data, while the asset’s 1987 vintage points to targeted renovation potential.
Located in an Inner Suburb of Winston-Salem, the neighborhood is rated A and ranks 31 out of 216 metro neighborhoods — placing it in the top quartile locally. Amenity access is practical rather than flashy: cafes and groceries index above many peers in the metro, while parks and childcare options are limited. Average school ratings trend slightly above national norms for comparable areas, supporting broader family appeal without commanding top-tier pricing.
For investors, the key dynamic is tenure and demand depth. The neighborhood’s housing stock shows a high share of renter-occupied units (renter concentration), indicating a broad tenant base for a 48-unit property. At the same time, the neighborhood occupancy rate is reported at 75.5% with softer performance versus the metro in recent years; this is a neighborhood statistic, not the property, and suggests the need for hands-on leasing and asset management to sustain occupancy.
Within a 3-mile radius, demographics point to gradual population growth over the last five years and a projected increase in households, alongside smaller average household sizes. These trends typically expand the renter pool and support steady leasing for appropriately positioned units. Median contract rents in the neighborhood remain moderate relative to incomes (rent-to-income measures imply manageable affordability), which can aid retention and reduce turnover risk if rent growth is paced to local income trends.
Home values in the neighborhood are lower than many national peers, creating some competition from ownership options; however, this is balanced by a sizable renter base and commute-friendly access to nearby employers. The property’s 1987 construction is older than the neighborhood’s average vintage (early 1990s), pointing to potential value-add through system upgrades and interior refreshes to improve competitive positioning and rentability.
Safety indicators are mixed and should be contextualized. The neighborhood ranks 123 out of 216 Winston-Salem metro neighborhoods for crime, which is below the metro median, and national comparison percentiles indicate safety levels are weaker than many U.S. neighborhoods. However, recent data show year-over-year improvement in violent offense trends, suggesting potential stabilization from prior levels. These are neighborhood-level measures intended for comparative and trend context, not block-specific conditions.
Nearby corporate anchors support renter demand through diversified employment and short commutes, notably in finance, consumer goods, and tobacco. Key employers include BB&T Corp., Reynolds American, Hanesbrands, and VF.
- BB&T Corp. — banking HQ (3.6 miles) — HQ
- Reynolds American — tobacco products HQ (3.9 miles) — HQ
- Hanesbrands — apparel HQ (9.5 miles) — HQ
- VF — apparel & footwear HQ (27.4 miles) — HQ
The investment case centers on workforce demand drivers and operational upside. A high share of renter-occupied housing units in the neighborhood supports a broad tenant base, while access to major employers underpins leasing and retention. According to CRE market data from WDSuite, neighborhood occupancy trends have been softer than the metro, implying the need for focused marketing, unit positioning, and resident services to sustain performance.
Built in 1987, the asset is older than the neighborhood’s early-1990s average, which points to value-add potential through targeted renovations and system updates to enhance competitiveness against newer stock. Within a 3-mile radius, steady population levels, a projected increase in households, and smaller household sizes suggest incremental renter pool expansion — supportive of long-term occupancy and pricing power when paired with disciplined affordability and amenity strategy.
- Established renter base supports depth of demand and lease stability.
- Proximity to BB&T Corp., Reynolds American, and Hanesbrands reinforces commuter convenience.
- 1987 vintage offers value-add and CapEx-driven upside versus newer comparables.
- Household growth and smaller household sizes within 3 miles expand the renter pool.
- Risks: neighborhood occupancy softness and below-average safety levels require active management and careful underwriting.