| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 10th | Poor |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 555 N Martin Luther King Jr Dr, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1973 |
| Units | 42 |
| Transaction Date | 2021-12-17 |
| Transaction Price | $3,200,000 |
| Buyer | 555 EAST ASSET LLC |
| Seller | EAGLEVIEW 555 EAST LLC |
555 N Martin Luther King Jr Dr, Winston-Salem Multifamily Investment
Renter-occupied housing is prevalent in the immediate neighborhood, supporting a deeper tenant base and steadier leasing, according to WDSuite’s CRE market data. Near-downtown positioning adds demand from nearby employers and services.
This Inner Suburb location balances proximity to Downtown Winston-Salem with everyday conveniences that matter for renters. Neighborhood amenities skew toward essentials: pharmacies and childcare access rank in the upper tiers locally and compare well nationally, while grocery options are adequate and restaurants are competitive among Winston-Salem neighborhoods. Cafes and parks are thinner, which may modestly influence lifestyle appeal but does not materially impede workforce housing demand.
Neighborhood occupancy has trended upward over the last five years, and the share of renter-occupied units is high relative to the metro, indicating depth in the tenant pool. For investors, this suggests support for leasing stability, with pricing decisions best calibrated to maintain retention in a value-oriented submarket.
Within a 3-mile radius, WDSuite data shows modest population growth and a larger increase in households, pointing to smaller household sizes and a gradually expanding renter pool. Contract rents in the neighborhood sit on the lower end nationally, and rent-to-income levels indicate limited affordability pressure, which can aid renewals and reduce turnover risk when managed carefully.
Home values are lower than many U.S. neighborhoods, but relative to local incomes ownership costs are still elevated compared with national norms. For multifamily investors, that mix can sustain reliance on rental housing while keeping an eye on potential competition from entry-level ownership options as financing conditions evolve.
Safety metrics for the neighborhood are below the metro median, with crime ranked in the lower half among 216 Winston-Salem neighborhoods and weaker than many areas nationally. That said, recent trends indicate improvement in violent offenses year over year, which investors should monitor for persistence.
In practice, this positions the area as urban workforce housing with typical inner-suburb risk factors. Comparing property operations against nearby comps and emphasizing on-site security, lighting, and resident engagement can support leasing and retention while broader neighborhood trends continue to evolve.
The property sits near a cluster of major corporate offices that anchor employment in Winston-Salem, supporting renter demand through short commutes and diverse white-collar job bases. Notable nearby employers include Reynolds American, BB&T Corp., Hanesbrands, VF, and Laboratory Corp. of America.
- Reynolds American — corporate offices (0.92 miles) — HQ
- BB&T Corp. — corporate offices (1.06 miles) — HQ
- Hanesbrands — corporate offices (6.42 miles) — HQ
- VF — corporate offices (24.01 miles) — HQ
- Laboratory Corp. of America — corporate offices (44.21 miles) — HQ
Positioned near downtown employment centers with strong renter concentration in the immediate neighborhood, this 42-unit asset offers exposure to durable workforce demand. Neighborhood rents benchmark on the lower end nationally, and rent-to-income levels point to manageable affordability pressure, supporting resident retention when paired with attentive lease management. According to commercial real estate analysis from WDSuite, neighborhood occupancy has improved over the past five years, and 3-mile household growth indicates a gradually expanding renter base.
Operational focus should emphasize consistent leasing, targeted common-area enhancements, and resident services that resonate with an urban workforce profile. Key watch items include neighborhood safety relative to regional peers and limited lifestyle amenities such as parks and cafes; however, proximity to multiple corporate headquarters helps underpin demand and reduces commute friction for residents.
- High renter concentration in the neighborhood supports depth of demand and leasing stability.
- Near-downtown location with multiple corporate headquarters bolsters year-round tenant interest.
- Lower relative rents and manageable rent-to-income underpin renewal strategy and occupancy.
- 3-mile household growth expands the prospective renter pool over the medium term.
- Risks: below-median safety metrics in the metro and thinner park/cafe amenities require proactive operations.