| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 54th | Good |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 648 Holly Ave, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1973 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
648 Holly Ave, Winston-Salem Multifamily Investment
Inner Suburb location with strong renter concentration and dense amenities supports a durable tenant base, according to WDSuite’s CRE market data. Neighborhood metrics cited reflect area-level conditions, not property performance.
The property sits in an Inner Suburb pocket of Winston-Salem rated A+ at the neighborhood level, competitive among the metro’s 216 neighborhoods on overall livability. Amenity access is a standout: restaurants and groceries rank near the top of the metro (e.g., restaurant density at the top of the pack and groceries ranked 1 of 216) and benchmark in the top quartile nationally, supporting resident convenience and leasing appeal.
Area stock skews older (average build year 1959 across nearby blocks), while this asset’s 1973 vintage is somewhat newer than neighborhood norms. That profile may enable targeted value-add—interiors, building systems, and curb appeal—to improve competitive positioning against both aging legacy stock and recently renovated comparables.
Renter-occupied share is elevated at the neighborhood level (among the highest in the metro; ranked 5 of 216), indicating a deep multifamily tenant pool and reinforcing demand for professionally managed units. While neighborhood occupancy is measured for the broader area and not this property, recent readings have trailed national benchmarks, suggesting leasing execution and asset-specific upgrades can be important to stabilize performance.
Within a 3-mile radius, demographics indicate a stable population with a modest increase over recent years and a projected expansion in households through 2028, pointing to a larger tenant base and potential renter pool expansion. Median household incomes in the trade area have risen, and ownership costs in the neighborhood context remain moderate, which can sustain rental demand while supporting pricing power for well-located, updated product.
Schools near the neighborhood benchmark below national averages on rating, which can matter for family-oriented demand. However, the area’s concentration of parks, cafés, and everyday services—each ranking competitively among the 216 metro neighborhoods—bolsters livability for a broad renter profile, including singles and workforce households.
Neighborhood safety trends compare less favorably to national norms. Based on WDSuite’s area data, the neighborhood’s crime profile sits below the metro median (crime rank 125 out of 216 metro neighborhoods), and national percentiles for both violent and property offenses are low, indicating higher reported incidents than typical U.S. neighborhoods.
Year over year, estimated violent offense rates have improved, while property offenses have ticked up. Investors should underwrite with prudent security, lighting, and access-control planning, and emphasize tenant screening and on-site management to support retention and stabilize operations.
Proximity to major employers in finance and consumer goods underpins workforce housing demand and reduces commute friction for renters. Notable nearby employers include BB&T Corp., Reynolds American, Hanesbrands, and VF.
- BB&T Corp. — banking (0.37 miles) — HQ
- Reynolds American — consumer goods/tobacco (0.49 miles) — HQ
- Hanesbrands — apparel (6.47 miles) — HQ
- VF — apparel (25.38 miles) — HQ
648 Holly Ave offers exposure to an amenity-rich Inner Suburb location with a deep renter base and strong neighborhood-level A+ rating. According to CRE market data from WDSuite, the area ranks near the top of the metro on restaurants, groceries, parks, and childcare, and shows one of the metro’s higher renter-occupied shares—signals that support leasing depth for well-managed multifamily assets. The 1973 vintage is newer than the area’s average build year and presents a practical platform for value-add—upgrading interiors and building systems to enhance competitiveness and drive rent premiums relative to older stock.
Investors should note that neighborhood occupancy levels have moderated versus broader benchmarks and safety metrics trail national averages, making operational execution—marketing, renovations, and management—central to the thesis. Within a 3-mile radius, stable population and a projected increase in households point to renter pool expansion that can support occupancy stabilization for refreshed product over a longer hold.
- Amenity-rich Inner Suburb location with top-tier metro access to restaurants, groceries, parks, and services
- Elevated neighborhood renter-occupied share supports a deep tenant base and leasing resilience
- 1973 vintage with clear value-add pathway via interior and systems upgrades
- Risk: Area-level occupancy softness and below-average safety require strong management and security planning