| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 16th | Poor |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 623 Ontario St, Winston Salem, NC, 27105, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1984 |
| Units | 46 |
| Transaction Date | 2005-09-22 |
| Transaction Price | $900,000 |
| Buyer | COELHO INVESTMENTS LLC |
| Seller | TALBERT BRENDA |
623 Ontario St Winston-Salem 46-Unit Multifamily
Steady renter demand and competitive location fundamentals support income stability, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit near local norms, offering a practical base case for consistent operations.
Located in an Inner Suburb pocket of Winston-Salem, the neighborhood carries a B+ rating and ranks 63 out of 216 metro neighborhoods, indicating performance above the metro median. Amenity access is a relative strength: overall amenity density is competitive among 216 Winston-Salem neighborhoods (rank 7 of 216; 71st percentile nationally). Cafes and groceries are notably convenient for the metro, with cafe density ranked 16 of 216 (79th percentile nationally) and grocery access ranked 22 of 216 (74th percentile nationally). These factors can aid leasing velocity and day-to-day resident satisfaction.
For rent levels and occupancy, local signals suggest a pragmatic operating backdrop. Neighborhood occupancy is in a stable range, and median contract rents remain below national norms, which can help sustain leasing and limit turnover-driven downtime. The neighborhood’s rent-to-income profile indicates manageable affordability pressure, supporting retention and predictable collections from an investor’s standpoint.
Vintage matters for competitiveness. Built in 1984, the property is newer than the neighborhood’s average construction year of 1973. This relative youth can reduce near-term competitive pressure versus older stock, while still warranting selective capital planning for systems and finishes to sharpen positioning against renovated peers.
Demographic and tenure dynamics, aggregated within a 3-mile radius, point to a sizable renter pool. Approximately a majority of housing units are renter-occupied, indicating meaningful depth for multifamily demand. While recent population change has been roughly flat, forecasts show growth in both population and households over the next five years, suggesting a larger tenant base that can support occupancy stability. At the same time, median home values in the immediate area are lower than national averages, which can introduce some competition from ownership; thoughtful pricing and amenities become important for lease retention and absorption.
Safety indicators are mixed and should be underwritten thoughtfully. Compared with neighborhoods nationwide, the area sits below the national middle on safety (overall crime around the 32nd percentile nationally). Within the Winston-Salem metro, the neighborhood’s crime rank is 109 out of 216, which places it near the metro midpoint. Recent trends are varied: estimated violent offenses show a year-over-year decline, placing that improvement in a stronger tier nationally, while property offenses have moved higher over the last year.
Investors may want to account for these dynamics in strategies for resident experience, lighting and access controls, and partnership with local community resources. Framing safety comparatively at the neighborhood scale avoids block-level assumptions and provides a clearer context for operations and underwriting.
Proximity to several headquarters-scale employers supports workforce housing demand and commute convenience for residents. Notable nearby employers include Reynolds American, Hanesbrands, BB&T Corp., and VF.
- Reynolds American — tobacco products HQ (3.2 miles) — HQ
- Hanesbrands — apparel HQ (3.4 miles) — HQ
- BB&T Corp. — financial services HQ (3.5 miles) — HQ
- VF — apparel & footwear HQ (24.5 miles) — HQ
623 Ontario St offers a practical multifamily hold in an Inner Suburb setting where amenity access is competitive for the metro and rents remain below national levels. According to CRE market data from WDSuite, neighborhood occupancy trends align with local norms, creating a reasonable baseline for steady leasing. The 1984 vintage is newer than nearby averages, which can help on competitive positioning versus older stock, while targeted updates may support rent trade‑outs and retention.
Demographic signals within a 3-mile radius indicate a sizable renter base today with forecasts for increases in population and households over the next five years, pointing to renter pool expansion that can support occupancy stability. Balanced underwriting should consider the area’s below-national safety standing and the relatively accessible ownership market, using asset-level improvements and service consistency to sustain pricing power and resident tenure.
- Competitive amenity access in the metro supports leasing and resident satisfaction.
- Occupancy trends near local norms provide a stable operating baseline.
- 1984 vintage is newer than area average, with selective value-add potential through modernization.
- 3-mile demographics point to renter pool expansion, reinforcing demand over the medium term.
- Risks: below-national safety metrics and accessible ownership options could temper pricing power; emphasize operations, resident experience, and targeted upgrades.