| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 38th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3490 Triangle Dr, Winston Salem, NC, 27106, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1983 |
| Units | 48 |
| Transaction Date | 2022-04-04 |
| Transaction Price | $27,500,000 |
| Buyer | GINKGO OLDE NORTH LLC |
| Seller | FLAMENGOS INVESTMENTS LLC |
3490 Triangle Dr, Winston-Salem Multifamily Opportunity
Neighborhood data indicate solid renter demand and rising occupancy at the neighborhood level, supporting stable leasing conditions, according to WDSuite s CRE market data. This inner-suburb location pairs strong renter concentration with nearby employers, aligning with pragmatic commercial real estate analysis for workforce housing.
Situated in Winston-Salem s inner suburbs, the property benefits from neighborhood fundamentals that are above the metro median and competitive among 216 metro neighborhoods. Neighborhood occupancy is elevated versus many subareas, and the area s renter-occupied share is among the highest in the metro, signaling depth in the tenant base for multifamily assets. Median contract rents in the neighborhood trend on the accessible side relative to larger Sun Belt metros, which helps sustain leasing velocity.
Amenities are mixed: cafes and pharmacies score well locally (both strong relative showings), while parks, grocery, and childcare options are limited in immediate proximity. For investors, this typically supports workforce-oriented positioning rather than lifestyle-driven premiums, with pricing power tied more to employment access and practical convenience than recreation.
Within a 3-mile radius, recent years show modest population softness but projections point to notable population growth and a sizable increase in households by the forecast horizon. A larger household base implies a broader renter pool and supports occupancy stability for well-managed communities. The current 3-mile housing tenure mix skews toward renter-occupied units, reinforcing demand depth for multifamily.
Ownership costs in the neighborhood are elevated relative to incomes (high value-to-income readings at the neighborhood level), which tends to reinforce reliance on rental housing and can aid retention. That said, households also experience rent-to-income pressure locally, so asset performance is more sensitive to renewal management and unit-level affordability than in higher-income submarkets.
The asset s 1983 vintage is slightly older than the neighborhood s average construction year. Investors should plan for ongoing capital needs and consider targeted renovations to enhance competitiveness against newer stock, particularly in unit interiors and building systems.
Safety indicators for the neighborhood are below the metro median (ranked 124 out of 216 metro neighborhoods), placing it in a weaker comparative position within Winston-Salem. Nationally, the neighborhood sits in lower percentiles for both violent and property offenses, indicating a need for prudent risk management rather than a premium safety profile.
Recent data also show a year-over-year uptick in property incidents at the neighborhood level. Investors typically address this through visible on-site management, lighting and access controls, and appropriate insurance budgeting. Monitoring trend direction and submarket comparisons during due diligence is advisable.
Nearby corporate offices provide a steady employment base that supports renter demand and short commute times, notably in apparel, consumer products, and financial services. The following employers anchor the area and can aid leasing and retention for workforce housing.
- Hanesbrands
- Reynolds American
- BB&T Corp.
- VF
3490 Triangle Dr offers a 48-unit footprint in an inner-suburb location where neighborhood occupancy trends have strengthened and renter concentration is high. According to CRE market data from WDSuite, local fundamentals are competitive versus many Winston-Salem neighborhoods, with pricing power tied to workforce demand and commute convenience to major employers.
Constructed in 1983, the asset may benefit from targeted renovations and system upgrades to improve its position relative to newer stock. Within a 3-mile radius, projections indicate meaningful population and household growth ahead, suggesting a broader tenant base. Balanced against this are rent-to-income pressures and a safety profile that sits below the metro median, which call for disciplined renewal management, expense control, and on-site operational focus.
- Competitive neighborhood fundamentals and rising occupancy support leasing stability
- Strong renter concentration and nearby employers underpin demand
- 1983 vintage allows value-add and capital planning to enhance positioning
- 3-mile forecasts show tenant base expansion, aiding long-term absorption
- Risks: rent-to-income pressure, limited nearby parks/grocery, and below-median safety require active management