| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 16th | Poor |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4349 Grove Ave, Winston Salem, NC, 27105, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1974 |
| Units | 60 |
| Transaction Date | 2021-11-30 |
| Transaction Price | $3,400,000 |
| Buyer | WOODBRIDGE 2024 LLC |
| Seller | EAGLEVIEW WOODBRIDGE LLC |
4349 Grove Ave, Winston-Salem Multifamily Investment
Neighborhood fundamentals point to steady renter demand and workable pricing power, according to WDSuite’s CRE market data, with renter concentrations measured at the neighborhood level rather than the property.
Positioned in an Inner Suburb of Winston-Salem (neighborhood rating: B+), the area ranks 63 out of 216 metro neighborhoods, making it competitive among Winston-Salem neighborhoods. Amenity access trends above national medians, with groceries, parks, pharmacies, and cafes all registering in the upper half of national comparisons—supportive of day-to-day convenience and leasing appeal.
Neighborhood rents and occupancy point to stability rather than volatility. Neighborhood occupancy is near the 90% range with modest improvement in recent years, while rent levels sit below many national peers—conditions that can help sustain tenant retention and reduce turnover risk during slower cycles.
Within a 3-mile radius, demographics indicate a slightly expanding population and a growing household base, suggesting a larger tenant pool over the medium term. Renter-occupied housing comprises slightly over half of units within this 3-mile area, indicating depth in multifamily demand and a broad base for leasing.
Home values in the neighborhood are lower than national averages, which can introduce some competition from entry-level ownership. However, rent-to-income levels trend manageable, limiting affordability pressure and supporting lease retention. Based on CRE market data from WDSuite, these dynamics—amenity access, renter concentration at the neighborhood level, and relative affordability—support an investor case centered on consistent occupancy and durable demand.
Safety indicators are mixed and should be evaluated as part of underwriting. The neighborhood’s overall crime rank sits near the metro median (109 out of 216), placing it roughly mid-pack among Winston-Salem neighborhoods. Compared nationally, the area falls below the median for safety, so conservative assumptions for security, lighting, and operating practices are prudent.
Recent directionality shows improvement: violent offense rates have declined year over year and trend better than many peers on improvement pace. Property-related offenses remain elevated compared to national benchmarks, so investors may consider measures that support resident confidence and asset protection while monitoring whether recent improvement continues.
Proximity to established corporate employers supports a steady workforce renter base and commute convenience for residents. Notable nearby corporate offices include Hanesbrands, Reynolds American, BB&T Corp., VF, and Laboratory Corp. of America.
- Hanesbrands — apparel corporate offices (3.4 miles) — HQ
- Reynolds American — tobacco corporate offices (3.5 miles) — HQ
- BB&T Corp. — financial services corporate offices (3.8 miles) — HQ
- VF — apparel corporate offices (24.2 miles) — HQ
- Laboratory Corp. of America — diagnostics corporate offices (44.5 miles) — HQ
This 60-unit asset in Winston-Salem’s inner-suburban fabric benefits from a renter-driven neighborhood, day-to-day amenity access, and occupancy that has trended stable at the neighborhood level. According to CRE market data from WDSuite, rents benchmark below many national peers while rent-to-income levels remain manageable—conditions that can underpin retention and steady cash flow through cycles.
Within a 3-mile radius, population and household counts are expanding, pointing to a larger tenant base and support for leasing velocity over time. Nearby corporate employment anchors reinforce workforce housing demand, while relatively accessible ownership costs suggest monitoring potential competition from for-sale alternatives. Safety metrics sit around the metro median but below national medians, warranting prudent operating assumptions.
- Renter depth: neighborhood-level renter concentration and growing 3-mile household base support demand and occupancy stability.
- Relative affordability: below-national rent benchmarks with manageable rent-to-income ratios aid retention and pricing flexibility.
- Location utility: amenity access and proximity to major employers bolster leasing and reduce commute frictions.
- Forward demand: 3-mile population and household expansion increase the prospective renter pool over the medium term.
- Key risk: below-national safety metrics and accessible ownership options require conservative underwriting and active asset management.