| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 60th | Best |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3620 Westgate Center Cir, Winston Salem, NC, 27103, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1985 |
| Units | 42 |
| Transaction Date | 2004-04-06 |
| Transaction Price | $1,411,000 |
| Buyer | DALEWOOD PROPERTIES II LLC |
| Seller | YOUNG JOHN A |
3620 Westgate Center Cir Winston-Salem Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and strong amenity access, according to WDSuite’s CRE market data, positioning this 1985, 42-unit asset for pragmatic value-add execution. Occupancy in the surrounding neighborhood trends below the metro median, so disciplined leasing and retention strategy will matter.
Located in an Inner Suburb of Winston-Salem, the neighborhood scores an A and ranks 11th of 216 metro neighborhoods—top quartile locally, signaling attractive fundamentals for multifamily investors. Amenity density is a clear strength: restaurants, cafes, groceries, and pharmacies all register in the 90th-percentile range nationally, supporting daily convenience and leasing appeal even without notable park access.
Renter-occupied housing accounts for a high share of units in this neighborhood, ranking 17th of 216 locally and in the top quartile nationally. For investors, that depth of the tenant base can support consistent leasing velocity and a broader pool of prospects across unit types.
Neighborhood rents sit around the middle of national peers with a rent-to-income profile that indicates manageable affordability pressure. This combination can aid retention and reduce turnover costs relative to higher-cost submarkets. Median home values are lower than many national markets, which can introduce some competition from entry-level ownership; however, it also means rentals remain a more accessible option for many households, sustaining multifamily demand.
Demographics aggregated within a 3-mile radius show modest population growth and a larger household count over recent years, with forecasts pointing to continued household gains and rising incomes. These dynamics suggest a gradually expanding renter pool and support for steady absorption and occupancy management in the medium term, based on CRE market data from WDSuite.
Vintage is a consideration: the property was built in 1985, while the neighborhood’s average construction year trends closer to 1990. The slightly older vintage increases the likelihood of near-term capital needs but also creates value-add potential through targeted renovations, common-area upgrades, and system modernization to compete effectively against newer stock.
Safety signals are mixed and should be weighed in underwriting. Relative to 216 Winston-Salem neighborhoods, this area sits below the metro median on safety. Nationally, the neighborhood falls in lower percentiles for both property and violent offenses, indicating higher crime rates than many U.S. neighborhoods. That said, recent trends show improvement in violent offenses year over year, which investors can monitor as part of ongoing risk assessment and resident-experience management.
In practice, owners typically address this through lighting, access control, and partnership with community policing—measures that can support leasing and retention while aligning operating plans with the local context. Always consider property-level security design, staffing, and insurance assumptions when modeling.
Proximity to major corporate offices underpins workforce housing demand and commute convenience, with anchors in financial services and branded consumer goods represented nearby.
- BB&T Corp. — financial services HQ (4.1 miles) — HQ
- Reynolds American — tobacco & consumer products HQ (4.3 miles) — HQ
- Hanesbrands — apparel HQ (8.6 miles) — HQ
- VF — apparel & footwear HQ (28.8 miles) — HQ
This 42-unit, 1985-vintage asset sits in a top-quartile Winston-Salem neighborhood with strong amenity access and a high share of renter-occupied housing units, supporting a broad tenant base and consistent leasing. According to WDSuite’s commercial real estate analysis, neighborhood occupancy trends below the metro median, which argues for focused asset management and value-driven upgrades that can differentiate the property and sustain absorption.
Rents are mid-market relative to national peers and the rent-to-income profile suggests manageable affordability pressure—favorable for retention and renewal strategies. The older vintage points to targeted capex opportunities (interiors, common areas, building systems) that can capture value-add upside while remaining competitive against slightly newer neighborhood stock.
- Top-quartile neighborhood rank (11 of 216) with dense retail and services supporting leasing appeal
- High renter-occupied share expands the tenant pool and supports demand depth
- Mid-market rents and manageable rent-to-income profile aid renewal and pricing flexibility
- 1985 vintage offers clear value-add pathways via renovations and systems upgrades
- Risks: below-metro-median neighborhood occupancy and weaker national safety percentiles require disciplined operations and security planning