| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 34th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2738 Pepper Ct, Winston Salem, NC, 27107, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1981 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2738 Pepper Ct, Winston-Salem NC Multifamily Investment
The surrounding neighborhood shows competitive occupancy and a high share of renter-occupied units, supporting steady tenant demand, according to WDSuite’s CRE market data. With stable renter dynamics relative to the metro, the asset’s leasing profile should benefit from a deep local renter base.
Located in an inner-suburb pocket of Winston-Salem, the neighborhood trends point to practical renter demand drivers for workforce housing. Occupancy is competitive among Winston-Salem neighborhoods (ranked against 216 neighborhoods), and the area has a high concentration of renter-occupied units, which generally supports tenant depth and leasing stability.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with forecasts indicating additional increases by 2028. A rising household count alongside modestly smaller average household sizes suggests a larger tenant base over time and sustained need for rental units.
The property’s vintage is 1981, slightly older than the neighborhood’s average construction year. For investors, this typically points to capital planning for building systems and the potential for value-add upgrades to enhance competitiveness versus newer stock while managing ongoing maintenance.
Local retail and services within the immediate neighborhood are limited, so residents are likely to rely on nearby commercial corridors for daily needs. Home values in the area are lower relative to many U.S. neighborhoods, which can introduce some competition from ownership options, yet the strong renter concentration in this neighborhood supports a consistent multifamily demand base.
Safety indicators for the neighborhood track below national medians (national percentiles are relative to neighborhoods nationwide), so investors should underwrite appropriate on-site management and security measures. That said, WDSuite data shows a year-over-year improvement in violent incident trends that outperformed many U.S. neighborhoods, even as property-related offenses have shown recent fluctuation.
In practical terms, prudent lighting, access controls, and resident engagement can help support retention and leasing outcomes, especially where perceptions of safety vary across the metro.
Proximity to several corporate headquarters underpins a stable employment base and supports renter demand through commute convenience. Notable nearby employers include BB&T Corp., Reynolds American, Hanesbrands, VF, and Laboratory Corp. of America.
- BB&T Corp. — corporate offices (4.3 miles) — HQ
- Reynolds American — corporate offices (4.3 miles) — HQ
- Hanesbrands — corporate offices (9.8 miles) — HQ
- VF — corporate offices (21.6 miles) — HQ
- Laboratory Corp. of America — corporate offices (41.5 miles) — HQ
This 46-unit, 1981-vintage asset benefits from a renter-heavy neighborhood with competitive occupancy and a broadening tenant base. Based on CRE market data from WDSuite, the area’s leasing fundamentals are supported by a deep pool of renter-occupied housing and ongoing household growth within a 3-mile radius, while lower relative home values suggest thoughtful positioning on rent and amenities to maintain pricing power and retention.
The vintage implies scope for targeted value-add to improve NOI and competitive standing versus newer product, while underwriting should account for safety perceptions and limited immediate amenities. Overall, demand drivers appear durable at the neighborhood level, with employment centers nearby helping to support day-to-day leasing.
- Renter-heavy neighborhood and competitive occupancy support leasing stability
- Household growth within 3 miles expands the tenant base and supports occupancy
- 1981 vintage offers value-add potential and systems modernization opportunities
- Access to nearby corporate headquarters underpins workforce renter demand
- Risks: below-national safety indicators and limited immediate amenities require active management