| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 34th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2921 Cole Ridge Cir, Winston Salem, NC, 27107, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1986 |
| Units | 76 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2921 Cole Ridge Cir Winston-Salem Multifamily Opportunity
Neighborhood-level occupancy is steady and renter demand is deep, according to WDSuite’s CRE market data, supporting a straightforward hold-or-value‑add thesis for stabilized cash flow. Focus is on renter-occupied housing concentration and relative affordability that can aid retention.
This Inner Suburb location in Winston-Salem exhibits above metro median occupancy and has strengthened over the last five years, pointing to demand stability at the neighborhood level (metrics refer to the neighborhood, not the property). Renter-occupied share is high, indicating a sizable tenant base for multifamily operators and supporting leasing velocity and renewal prospects.
Rents in the surrounding neighborhood skew toward the lower end relative to national benchmarks, while the rent-to-income profile suggests manageable affordability pressure—conditions that can underpin retention with disciplined lease management. Median home values nearby are comparatively low for the region, which can sustain reliance on rental options and maintain a broad pool of renters rather than diverting demand to ownership.
Within a 3-mile radius, population has inched higher and households have grown, expanding the local renter pool even as average household size trends lower. Forward-looking projections indicate additional growth in households by the midterm, which typically supports occupancy stability and measured rent growth for well-managed assets. Based on commercial real estate analysis from WDSuite, these dynamics are consistent with workforce housing fundamentals seen across the metro.
Amenity density (grocery, parks, cafes) in the immediate neighborhood ranks near the bottom among 216 Winston-Salem neighborhoods, which may place greater value on in-unit features and property-level conveniences. For investors, that trade-off can still pencil when paired with competitive rents and strong renter concentration.
Neighborhood safety indicators track below national medians, and the area ranks below the metro average on reported crime within Winston-Salem (measured against 216 neighborhoods). Recent data show year-over-year declines in violent offense rates, suggesting some improvement, though conditions still warrant standard risk controls such as lighting, access management, and resident engagement.
In comparative terms, this submarket is not in the top quartile nationally for safety. Investors typically underwrite with conservative loss assumptions and lean on operational measures to support resident satisfaction and retention while monitoring ongoing trends.
The employment base includes nearby corporate headquarters that draw a diverse workforce, supporting renter demand and practical commute times for residents. Notable employers include BB&T Corp., Reynolds American, Hanesbrands, VF, and Laboratory Corp. of America.
- BB&T Corp. — financial services (4.2 miles) — HQ
- Reynolds American — consumer products (4.3 miles) — HQ
- Hanesbrands — apparel (9.7 miles) — HQ
- VF — apparel & footwear (21.6 miles) — HQ
- Laboratory Corp. of America — diagnostics (41.5 miles) — HQ
Built in 1986, the property’s late-1980s vintage is slightly newer than the neighborhood average, offering competitive positioning versus older stock while still presenting scope for targeted systems and interior updates common to assets of this era. Neighborhood-level occupancy is solid and renter concentration is high, supporting demand resilience and steady leasing for a 76‑unit asset.
According to CRE market data from WDSuite, the surrounding neighborhood posts above-median occupancy for Winston-Salem and features relatively accessible rents, which can aid retention while leaving room for value‑add strategies tied to renovations and operational upgrades. Within a 3-mile radius, modest population growth and a rising household count point to a larger tenant base over time, reinforcing the case for stable cash flow with prudent expense and affordability management.
- High renter-occupied share and solid neighborhood occupancy support demand stability and leasing durability.
- Late-1980s vintage offers value-add potential through selective interior and systems upgrades.
- Workforce-oriented rent levels and increasing household counts within 3 miles expand the tenant base and aid retention.
- Proximity to multiple corporate headquarters underpins commuter convenience and broad employment drivers.
- Risks: below-national safety measures and limited nearby amenities; underwrite with conservative losses and emphasize on-site features and security.