| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 15th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3727 Old Lexington Rd, Winston Salem, NC, 27107, US |
| Region / Metro | Winston Salem |
| Year of Construction | 2001 |
| Units | 42 |
| Transaction Date | 2001-03-22 |
| Transaction Price | $105,000 |
| Buyer | ST PETERS HOUSING INC |
| Seller | ST PETERS WORLD OUTREACH CENTER INC |
3727 Old Lexington Rd Winston-Salem Multifamily Investment
Renter-occupied housing is prevalent in the neighborhood, supporting a deeper tenant base even as occupancy trends are mixed, according to WDSuite’s CRE market data. Competitive rent levels help sustain demand while leaving room for operational execution to drive returns.
Located in an inner-suburb pocket of Winston-Salem, the property sits in a neighborhood with a competitive amenity position relative to the metro (amenity rank 64 out of 216 neighborhoods), with everyday necessities like grocery access comparing favorably to many local peers. Cafes and restaurants are present but not dense, and public parks, pharmacies, and childcare options are limited nearby — factors to consider for resident appeal and marketing.
Neighborhood occupancy runs below the metro median (rank 151 of 216), yet the renter-occupied share is in the top quartile among 216 Winston-Salem neighborhoods and well above national norms. For investors, that combination suggests a sizable renter pool with leasing achievable through focused operations and value positioning.
The asset’s 2001 vintage is newer than the neighborhood’s average construction year (1974). That positioning can enhance competitiveness versus older stock while still warranting prudent capital planning for systems refresh and light modernization to support retention.
Within a 3-mile radius, population and household counts have grown in recent years, with forecasts indicating continued household expansion alongside smaller average household sizes. This points to a broader renter pool and steady unit absorption potential. Home values in the area remain relatively accessible in the market context, which can create some competition with ownership options; however, rent-to-income levels indicate manageable affordability pressure that supports lease stability.
Safety indicators are mixed. Compared with neighborhoods nationwide, this area sits below average for safety (overall crime around the 30th percentile nationally), and relative to Winston-Salem peers it trends below the metro median (crime rank 116 out of 216 neighborhoods). Property offenses benchmark lower nationally, and violent offense rates track in a weaker national percentile; however, recent year-over-year change shows modest improvement in violent incidents, suggesting gradual stabilization rather than deterioration.
For underwriting, frame expectations with conservative loss assumptions and focus on property-level measures (lighting, access control) and resident engagement. Evaluate trends at the neighborhood level rather than block-specific conclusions.
Proximity to several corporate headquarters underpins a diversified employment base, supporting renter demand and commute convenience for workforce households. The most relevant nearby employers include BB&T Corp. (Truist), Reynolds American, Hanesbrands, VF, and Laboratory Corp. of America.
- BB&T Corp. — banking (3.6 miles) — HQ
- Reynolds American — consumer products (3.8 miles) — HQ
- Hanesbrands — apparel (10.1 miles) — HQ
- VF — apparel & footwear (24.2 miles) — HQ
- Laboratory Corp. of America — diagnostics (44.0 miles) — HQ
This 42-unit asset, built in 2001, is positioned newer than much of the surrounding stock, offering relative competitiveness with potential for targeted value-add to refresh interiors and common areas. The neighborhood shows a high renter-occupied share and manageable rent-to-income levels, which, combined with household growth within a 3-mile radius, point to a durable tenant base and the potential for occupancy stability with disciplined operations.
According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, making execution and leasing strategy important, while local employment anchors and projected household expansion support demand. Forward-looking rent growth and rising incomes in the surrounding area reinforce the case for steady cash flow potential, provided capital plans account for system updates typical for an early-2000s vintage and local safety considerations.
- 2001 vintage offers competitive positioning versus older stock with manageable modernization scope
- High renter-occupied share indicates depth of tenant demand and leasing resiliency
- 3-mile household growth and proximity to major employers support absorption and retention
- Neighborhood occupancy below metro median highlights execution risk and the need for active leasing
- Limited nearby parks/childcare/pharmacy and safety headwinds require resident experience and security focus