| 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
Amenity-rich downtown-adjacent location with a deep renter base supports leasing durability, according to WDSuite’s CRE market data. Neighborhood-level occupancy and school metrics warrant active management, but proximity to major employers and services underpins steady renter demand.
Located at 648 Holly Ave in Winston-Salem’s inner-suburb core, the property benefits from one of the metro’s strongest amenity clusters. The neighborhood ranks 2nd out of 216 for overall amenities and is top quartile nationally for restaurants, cafés, grocers, and parks — a combination that tends to support retention and everyday convenience for renters.
Neighborhood-level rents skew above the metro median (ranked 8th of 216), signaling pricing power relative to many Winston-Salem peers. By contrast, neighborhood occupancy sits below the metro median (ranked 188th of 216), so owners should prioritize leasing execution and renewal strategy to maintain stability; these figures reflect neighborhood conditions, not this specific property.
Renter-occupied housing comprises a high share of neighborhood units (68.5%), indicating a sizable tenant pool for multifamily product and a broad base for absorption. Within a 3-mile radius, recent demographic patterns show modest population growth and a rising household count, with projections indicating further household expansion alongside smaller average household sizes — dynamics that typically enlarge the renter pool and support occupancy over time.
The asset’s 1973 vintage is newer than the neighborhood’s average construction year (1959), offering a relative competitive edge versus older stock. Investors should still plan for targeted capital improvements typical of 1970s construction to enhance durability and positioning. Home values in the neighborhood are moderate for the region, which can create a balanced setting where rental housing remains an accessible option, supporting leasing depth without materially eroding demand to entry-level ownership.
Amenities are a standout: restaurant, grocery, childcare, and park density rank at or near the top among 216 metro neighborhoods, though pharmacy access is limited locally (ranked last). Average school ratings trail the metro (bottom quartile nationally), which can matter for family renters; investors may focus on unit finishes, walkability, and commuter convenience to offset this in positioning. These comparisons are based on WDSuite neighborhood benchmarks and national percentiles.
Safety indicators for the neighborhood are weaker than average relative to the metro and nation. Based on WDSuite benchmarks, the area ranks in the lower half among 216 Winston-Salem neighborhoods for crime, and national percentiles indicate below-average safety compared with many U.S. neighborhoods. These figures describe neighborhood conditions, not the specific property or block.
Recent trends show mixed signals: WDSuite data indicates a year-over-year decline in estimated violent offenses, suggesting some improvement, while property offenses have ticked up. Investors should budget for appropriate security measures and tenant communications and monitor trends at the neighborhood level over time.
The immediate area benefits from proximity to several headquarters and corporate offices that underpin steady renter demand through short commutes and diversified white-collar employment. Notable nearby employers include BB&T Corp., Reynolds American, Hanesbrands, and VF.
- BB&T Corp. — banking (0.36 miles) — HQ
- Reynolds American — consumer goods (0.49 miles) — HQ
- Hanesbrands — apparel (6.49 miles) — HQ
- VF — apparel (25.37 miles) — HQ
This 27-unit, 1973-vintage asset sits in one of Winston-Salem’s highest-amenity neighborhoods, offering walkable lifestyle drivers and proximity to multiple headquarters. Neighborhood-level rents trend above the metro median, while a high share of renter-occupied housing units indicates a deep tenant pool. According to WDSuite’s commercial real estate analysis, owners should pair this demand backdrop with disciplined leasing and renewals, as neighborhood occupancy ranks below the metro median.
Relative to older local stock, the property’s vintage can be leveraged with focused value-add and systems upgrades to sharpen competitive positioning. Within a 3-mile radius, projections point to continued household growth and smaller household sizes, which generally expand the renter base and support occupancy and leasing velocity over time.
- Amenity-dense location near downtown with top-tier food, grocery, childcare, and park access supporting retention.
- High renter concentration and projected household growth (3-mile radius) reinforce depth of tenant demand.
- 1970s vintage creates value-add and systems-upgrade angles versus older neighborhood stock.
- Corporate employment nearby (multiple HQs) supports leasing stability and short commutes.
- Risks: neighborhood-level occupancy softness, below-average school ratings, limited pharmacy access, and safety metrics warrant active management.