| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 32nd | Poor |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3300 New Greensboro Rd, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1986 |
| Units | 56 |
| Transaction Date | 2016-05-20 |
| Transaction Price | $1,900,000 |
| Buyer | FLAMENGOS INVESTMENTS LLC |
| Seller | SALVAGE BUILDING MATERIALS INC |
3300 New Greensboro Rd, Winston-Salem NC Multifamily Investment
Neighborhood fundamentals point to steady renter demand and manageable affordability, with occupancy and rent levels discussed here reflecting the surrounding neighborhood, according to WDSuite’s CRE market data.
The property sits in a suburban Winston-Salem neighborhood rated B where amenity access is competitive among 216 metro neighborhoods and roughly top quartile nationally for pharmacies and childcare access. Coffee shop and park density are limited nearby, so day-to-day convenience leans on groceries and essential services rather than recreational amenities.
Vintage positioning matters: built in 1986, the asset is newer than the neighborhood’s average construction year (1971). That relative age can help competitiveness against older stock, though investors should plan for system updates typical of 1980s buildings to sustain leasing and reduce deferred maintenance risk.
Renter-occupied share in the neighborhood is about 32%, indicating a moderate renter base that supports multifamily leasing without overreliance on transient demand. Neighborhood occupancy is in the high-80s, and median contract rents have risen over the past five years, suggesting stable absorption and pricing power consistent with workforce housing dynamics. Elevated home values relative to local incomes and a value-to-income ratio near metro norms imply a high-cost ownership market for many households, which can reinforce reliance on rentals and help tenant retention.
Demographic statistics within a 3-mile radius show recent population growth and a 5-year increase in households, expanding the local tenant base. Forecasts point to continued population and household growth through 2028, which should support occupancy stability and renewal rates as new renters enter the market based on CRE market data from WDSuite and broader multifamily property research trends.
Safety indicators for the neighborhood trend below the national median, with violent and property offense percentiles indicating more incidents than typical U.S. neighborhoods. However, recent data show a meaningful year-over-year decline in estimated violent offenses, placing the neighborhood in a stronger improvement tier nationally. For investors, this translates to cautious underwriting for security measures and tenant experience, while acknowledging the directionally improving trend.
Compared across Winston-Salem neighborhoods (216 total), the area is competitive but not top-tier on safety. Use comparative benchmarks and recent momentum rather than block-level assumptions when calibrating marketing, operating expenses, and lease management.
Proximity to major employers underpins renter demand through diverse office and headquarters employment, supporting retention among residents seeking short commutes to Reynolds American, BB&T Corp., Hanesbrands, VF, and Laboratory Corp. of America.
- Reynolds American — tobacco/CPG HQ (3.7 miles) — HQ
- BB&T Corp. — banking HQ (3.9 miles) — HQ
- Hanesbrands — apparel HQ (7.6 miles) — HQ
- VF — apparel & footwear HQ (21.2 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (41.4 miles) — HQ
This 56-unit, 1986 vintage asset benefits from a renter base supported by neighborhood occupancy in the high-80s and rent levels that have trended upward over the last five years. Relative to the neighborhood’s older housing stock, 1980s construction can offer a competitive edge with targeted modernization, positioning the property for steady leasing and improved operating efficiency. According to CRE market data from WDSuite, the surrounding area shows moderate renter concentration and a high-cost ownership backdrop, both of which can support lease retention and pricing discipline.
Within a 3-mile radius, recent population growth and an expanding household count point to a larger tenant pool, with forecasts through 2028 suggesting continued renter pool expansion. Affordability metrics (including a rent-to-income ratio around the high-teens) indicate manageable pressures that support occupancy stability while leaving room for value-add repositioning to capture incremental rent.
- 1986 vintage offers value-add potential versus older neighborhood stock, with manageable capital scopes to modernize systems and finishes
- Neighborhood occupancy in the high-80s and rising rents support stable cash flow and renewal capture
- 3-mile radius shows recent and forecast growth in population and households, expanding the tenant base
- Proximity to multiple headquarters employers supports leasing velocity and resident retention
- Risks: safety metrics are below national medians and local amenity gaps (parks/cafes) may require security, activation, and marketing strategies