| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 40th | Fair |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 50 Brookford Place Ct, Winston Salem, NC, 27104, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1998 |
| Units | 108 |
| Transaction Date | 2017-01-10 |
| Transaction Price | $7,430,000 |
| Buyer | GINKGO BROOKFORD LLC |
| Seller | BBR BROOKFORD LLC |
50 Brookford Place Ct Winston-Salem Multifamily Opportunity
Inner-suburban location with strong daily conveniences and a sizable renter base supports durable demand, while current neighborhood occupancy trails metro leaders, suggesting room for operational upside. These dynamics, according to WDSuite’s CRE market data, are reinforced by competitive rents that help sustain leasing velocity.
The property sits in an Inner Suburb of Winston-Salem that ranks in the top quartile among 216 metro neighborhoods (A-rated), signaling solid fundamentals for multifamily. Cafes, restaurants, groceries, and pharmacies are plentiful nearby—each measuring in top-quartile availability across the metro and competitive nationally—supporting daily convenience and resident retention. Limited park access is a notable gap that owners may offset with on-site amenities or partnerships.
At the neighborhood level, about 55% of housing units are renter-occupied, indicating a deep tenant pool and consistent multifamily demand. Neighborhood occupancy is below the metro median, so investors should underwrite to active leasing and renewal strategies rather than assuming peak stabilization. Median contract rents trend below national norms, which can aid retention and broaden the applicant pipeline without sacrificing positioning.
Within a 3-mile radius, demographic statistics point to recent population growth and a projected increase in households through the forecast period, expanding the tenant base and supporting occupancy stability. Higher-income cohorts are present, and rent levels in the area remain accessible relative to incomes, which can moderate turnover risk. Median home values in the neighborhood are lower than many U.S. markets, which may introduce some competition from ownership options; however, this also helps sustain demand for well-managed apartments offering convenience and quality.
Vintage matters: built in 1998, the asset is newer than the neighborhood’s average 1975 construction year, offering relative competitiveness versus older stock. Investors should still plan for targeted modernization and systems upkeep as the property approaches three decades in age, balancing resident expectations with disciplined capital planning derived from multifamily property research.
Safety indicators for the neighborhood track below national averages, with both property and violent offense measures landing in lower national percentiles. Relative to the 216 Winston-Salem metro neighborhoods, the area sits closer to the middle-to-lower tier, and recent year-over-year data indicate some uptick in reported offenses. Investors should incorporate prudent security measures, lighting, and resident engagement into operating plans and benchmark performance against comparable Inner Suburb assets.
Proximity to headquarters-scale employers supports a stable renter base and commute convenience for workforce and professional tenants. Nearby anchors include banking, consumer goods, and apparel companies that help reinforce weekday traffic and leasing fundamentals.
- BB&T Corp. — banking (4.8 miles) — HQ
- Reynolds American — consumer tobacco (4.9 miles) — HQ
- Hanesbrands — apparel (8.5 miles) — HQ
- VF — apparel & footwear (29.7 miles) — HQ
This 108-unit 1998-vintage asset benefits from a top-quartile Winston-Salem neighborhood with strong everyday amenities and a renter-occupied housing share that supports depth of demand. Neighborhood occupancy trails metro leaders, but below-national rent levels and 3-mile radius population and household growth point to a broader tenant funnel and potential to firm stabilization with focused leasing and retention. Based on CRE market data from WDSuite, the location’s convenience and employer proximity underpin steady absorption, while the property’s newer-than-average vintage offers a competitive edge versus older stock, with targeted updates likely to enhance positioning.
Key considerations include limited park access, schools that rate below national averages, and safety metrics that underperform national benchmarks. Lower neighborhood home values can introduce ownership competition, so differentiating through management, unit finishes, and service will be important to sustain pricing power and retention.
- Inner-suburban, top-quartile neighborhood with strong daily conveniences supporting leasing and retention
- 1998 vintage newer than area norms; targeted upgrades can strengthen competitive position
- Deep renter base and accessible rent levels support occupancy stability and a broader applicant pool
- HQ employers within 5–30 miles bolster weekday traffic and renter demand
- Risks: below-metro occupancy, underperforming safety and school metrics, and potential competition from homeownership