| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 34th | Poor |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2425 Old Greensboro Rd, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1972 |
| Units | 43 |
| Transaction Date | 2022-02-08 |
| Transaction Price | $6,420,000 |
| Buyer | SLAXMI LLC |
| Seller | BLACK HARBOR COMMERCIAL-WSP LLC |
2425 Old Greensboro Rd Winston-Salem Multifamily Opportunity
Renter concentration is relatively high in the surrounding area and household counts are expanding, supporting a durable tenant base, according to WDSuite’s CRE market data. Operations may benefit from hands-on management given neighborhood occupancy trends, positioning this asset for value-focused execution.
Located in an Inner Suburb pocket of Winston-Salem, the neighborhood carries a B- rating and sits around the middle of the metro pack (120 out of 216 neighborhoods). Amenity access is mixed: restaurants and groceries are competitive locally, while cafes and pharmacies are sparse.
Dining and daily-needs access score well relative to peers—restaurant density ranks in the top quartile among 216 Winston-Salem neighborhoods, and grocery presence is also top quartile—helping with day-to-day livability. Park access trends similarly strong (top quartile nationally), but limited cafes and pharmacies indicate fewer niche conveniences and may modestly affect walk-to options.
Vintage: built in 1972, the asset is older than much of the new supply and slightly newer than the neighborhood average year. For investors, that typically means planning for targeted capital improvements (exteriors, interiors, and building systems) to enhance competitiveness versus newer properties while capturing renovation upside.
Tenure and demand: neighborhood data indicate a relatively high share of renter-occupied units, which signals depth in the tenant base. Within a 3-mile radius, households have increased in recent years and are projected to expand further, pointing to renter pool expansion that can support occupancy stability and leasing velocity. Median contract rents in the area remain comparatively low but have trended upward; forward-looking estimates suggest continued growth, based on CRE market data from WDSuite.
Affordability and ownership context: elevated value-to-income ratios in the neighborhood suggest a high-cost ownership market relative to local incomes, which tends to sustain reliance on multifamily rentals and can support retention. At the same time, a higher rent-to-income burden in the immediate area underscores the need for disciplined lease management and thoughtful pricing to balance occupancy and collections.
Safety indicators are below national norms for this neighborhood, with overall conditions tracking in the lower third of neighborhoods nationwide. Relative to the Winston-Salem metro, the neighborhood’s crime ranking places it below the metro average (ranked 118 out of 216 neighborhoods), so investors should underwrite active security and resident-experience measures.
Recent trends are mixed: WDSuite data show violent incidents trending lower year over year, while property-related incidents have increased. For underwriting, this combination points to benefits from improved lighting, access control, and community engagement, along with close coordination with local resources to support resident retention and asset performance.
Proximity to major corporate offices provides a steady employment base and convenient commutes for renters, anchored by Reynolds American, BB&T Corp., Hanesbrands, VF, and Laboratory Corp. of America.
- Reynolds American — tobacco and consumer products (1.5 miles) — HQ
- BB&T Corp. — banking and financial services (1.6 miles) — HQ
- Hanesbrands — apparel and consumer goods (6.7 miles) — HQ
- VF — apparel and lifestyle brands (23.4 miles) — HQ
- Laboratory Corp. of America — diagnostics and healthcare services (43.6 miles) — HQ
This 43-unit, 1972-vintage property offers a pragmatic value-add angle in a renter-leaning submarket. Within a 3-mile radius, population and household counts have been rising and are projected to continue growing, expanding the tenant base and supporting occupancy stability. Neighborhood amenities are serviceable—restaurants, groceries, and parks compare favorably to many Winston-Salem locations—while limited cafes and pharmacies suggest a car-oriented routine.
Operationally, the neighborhood’s occupancy levels run softer than stronger Winston-Salem submarkets, so performance will hinge on renovation scope, leasing execution, and resident retention. According to CRE market data from WDSuite, ownership remains relatively high-cost versus incomes locally, which can reinforce rental demand; however, elevated rent-to-income ratios call for careful pricing and expense control to manage retention risk.
- Renter pool expansion within 3 miles supports demand and leasing stability.
- 1972 vintage positions the asset for targeted renovations and value-add upside.
- Competitive access to restaurants, groceries, and parks relative to Winston-Salem peers.
- Ownership costs high relative to incomes can sustain reliance on multifamily rentals.
- Risk: Softer neighborhood occupancy and higher rent-to-income burdens require disciplined leasing and asset management.