| 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 | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3615 Cash Dr, Winston-Salem NC Multifamily Investment
Positioned in an inner-suburban pocket of Winston-Salem, this 32-unit asset benefits from a sizable renter base and steady neighborhood performance, according to WDSuite's CRE market data. Expect durable working-class demand with room for value-add execution rather than reliance on premium rent growth.
Neighborhood dynamics and renter demand
WDSuite indicates the neighborhood carries a C rating and ranks 165 of 216 Winston-Salem neighborhoods, placing it below the metro median but still competitive for workforce housing. Cafes per square mile rank 32 of 216 (competitive locally), grocery options are around the metro middle, while parks and childcare access are limited. For investors, this mix suggests everyday convenience but fewer lifestyle anchors than core corridors.
The area’s housing stock averages 1970s vintage. The subject property’s 1982 construction is somewhat newer than neighborhood norms, which can support leasing versus older assets, though investors should plan for targeted system upgrades and common-area refreshes typical of 1980s product. Neighborhood occupancy is 86.8% (neighborhood-level, not property-specific), signaling stable but not fully tight conditions; rent growth will be driven by execution quality more than scarcity.
Renter-occupied housing accounts for 44.1% of units locally (above many peer areas; 84th percentile nationally), pointing to a deeper tenant base that supports absorption and renewals for well-managed communities. With a rent-to-income ratio near 0.19 at the neighborhood level, affordability pressure appears manageable, which can aid retention and reduce turnover risk.
Within a 3-mile radius, population and households increased over the past five years and are projected to continue rising through 2028. Expected decreases in average household size suggest more households forming from similar population levels, expanding the renter pool over time. Median home values sit below many U.S. neighborhoods, which can create some competition from ownership but also sustain steady rental demand; aligning finishes and amenities to entry-level ownership alternatives is a practical leasing strategy grounded in multifamily property research from WDSuite.
Safety context
Safety metrics are mixed relative to the region and nation. The neighborhood ranks 116 out of 216 Winston-Salem neighborhoods for crime, placing it in the lower half locally rather than among the metro’s top performers. Nationally, overall safety reads below the median (around the lower third), indicating investors should underwrite with prudent security measures and active management.
WDSuite data show violent offenses track in a weaker national percentile, while property crime sits closer to regional norms. Recent trends are somewhat constructive: estimated violent offenses declined year over year, while property offenses posted a modest uptick. Taken together, this supports a cautious but manageable risk posture focused on lighting, access control, and partnership with local patrols.
Nearby employment anchors supporting renter demand
Proximity to established corporate offices underpins workforce housing demand and commute convenience for residents, notably in financial services, consumer products, and apparel. The employers listed below represent key regional anchors.
- BB&T Corp. — financial services (3.9 miles) — HQ
- Reynolds American — consumer products (4.1 miles) — HQ
- Hanesbrands — apparel (10.2 miles) — HQ
- VF — apparel & footwear (23.3 miles) — HQ
- Laboratory Corp. of America — diagnostics (43.1 miles) — HQ
Long-term investment thesis
The 1982 vintage offers a practical value-add path: units and common areas can be modernized to compete effectively against older 1970s stock while maintaining attainable rents. Neighborhood-level occupancy of 86.8% (not property-specific) suggests demand is present but not supply-constrained, so returns hinge on renovation scope, operational efficiency, and resident experience.
Population and household growth within a 3-mile radius expand the renter pool, while a higher local share of renter-occupied units supports absorption and renewals. According to commercial real estate analysis from WDSuite, relative affordability (including a moderate rent-to-income ratio) supports lease retention, and proximity to major employers bolsters day-to-day leasing stability. Key risks include safety metrics that trail stronger submarkets and the need for disciplined capex to meet renter expectations.
- 1982 construction with clear value-add and system-upgrade potential versus older neighborhood stock
- Growing 3-mile household base supports a larger tenant pool and occupancy stability
- Higher renter concentration locally underpins depth of demand and renewals
- Employer proximity aids leasing velocity and day-to-day retention
- Risks: safety metrics below metro leaders and capex needs to achieve target rents