| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 15th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3615 Cash Dr, Winston Salem, NC, 27107, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1982 |
| Units | 32 |
| Transaction Date | 2008-01-03 |
| Transaction Price | $445,000 |
| Buyer | GINKGO PLANTATION LLC |
| Seller | FAG LEVIEW PLANTATION PLACE LLC |
3615 Cash Dr Winston-Salem Multifamily Investment Outlook
Neighborhood renter-occupied share is around 44%, supporting a reliable tenant base, and occupancy in the neighborhood trends in the mid-80s, according to WDSuite’s CRE market data.
Situated in an inner-suburb pocket of Winston-Salem, the neighborhood offers everyday convenience with a competitive amenities profile among 216 metro neighborhoods. Cafe density ranks in the top quartile locally (32 of 216), and grocery access sits above the metro median (49 of 216), while parks and pharmacies are limited in the immediate area. School ratings trend on the lower end nationally, suggesting family-oriented leasing may require careful positioning and value emphasis.
Neighborhood-level multifamily conditions are balanced but not tight: occupancy is in the mid-80s with a slight five-year softening, and asking rents sit near the national midpoint. With a renter-occupied share near 44% of housing units, the tenant base is sufficiently deep to support steady leasing, though pricing power may require disciplined management where affordability is a priority. The property’s 1983 vintage is newer than the neighborhood average construction year (1974), offering relative competitiveness against older stock while leaving room for modernization and systems upgrades to capture value-add upside.
Within a 3-mile radius, population and household counts have grown over the past five years, expanding the local renter pool. Forecasts point to additional household growth and smaller average household sizes, a combination that typically supports demand for rental units and helps stabilize occupancy through varying market cycles.
Home values in the neighborhood are lower than national averages, and the value-to-income profile is near national mid-range. This more accessible ownership environment can create some competition with entry-level for-sale options, but rent-to-income levels around the high teens support retention with thoughtful lease management and renewal strategies.
Relative to the Winston-Salem metro, this neighborhood’s safety profile tracks below the metro median (crime rank 116 out of 216 neighborhoods), and national comparisons place it in a lower safety percentile. That said, recent trend data shows year-over-year improvement in violent incidents, suggesting conditions have eased versus the prior year. Investors should underwrite with realistic expectations for security and property management practices while noting the improving trajectory.
Proximity to several headquarters underpins local renter demand by shortening commutes for a diverse workforce in financial services, consumer goods, and tobacco products. The bullets below highlight nearby anchors that can support leasing stability.
- BB&T Corp. — financial services (3.9 miles) — HQ
- Reynolds American — tobacco products (4.1 miles) — HQ
- Hanesbrands — apparel (10.2 miles) — HQ
- VF — apparel and footwear (23.3 miles) — HQ
3615 Cash Dr offers investors a 32-unit, 1983-vintage asset in an inner-suburb location where renter concentration is meaningful and neighborhood occupancy trends in the mid-80s. The property is newer than the neighborhood’s average construction year, suggesting relative competitiveness versus older stock and potential to unlock value through targeted renovations and systems updates. Neighborhood rents sit near the national midpoint and the rent-to-income profile around the high teens indicates manageable affordability pressure that can support retention with disciplined rent setting, based on CRE market data from WDSuite.
Within a 3-mile radius, past growth in population and households, along with forecasts pointing to more households and smaller average household sizes, signals a larger tenant base over time. At the same time, a more accessible ownership market may moderate pricing power, making operational execution and value-add scope important levers for returns.
- 1983 vintage newer than local average, with value-add potential via interior updates and building systems modernization
- Renter concentration near 44% and mid-80s neighborhood occupancy support steady leasing and renewals
- 3-mile radius shows expanding household base and smaller household sizes, indicating a larger tenant pool
- Rent-to-income near the high teens supports retention with disciplined rent growth and fee strategy
- Risk: below-median safety ranking in the metro and modest occupancy softness call for prudent operations