| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 61st | Best |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 710 Jonestown Rd, Winston Salem, NC, 27103, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1983 |
| Units | 88 |
| Transaction Date | 2021-09-09 |
| Transaction Price | $5,388,000 |
| Buyer | WOODSMILL EC I LLC |
| Seller | GATEWAY MANAGEMENT SERVICES LTD |
710 Jonestown Rd, Winston-Salem Value-Add Multifamily
Stabilized neighborhood occupancy and a deep renter base point to steady leasing, according to WDSuite’s CRE market data, while 1983 vintage creates a practical path for targeted renovations.
The property sits in an Inner Suburb pocket of Winston-Salem with an A neighborhood rating and a rank of 32 out of 216 metro neighborhoods, placing it in the top quartile locally. That positioning, combined with neighborhood occupancy trending above the national median, supports durable cash flow expectations at the asset level.
Within a 3-mile radius, demographics indicate a growing renter pool: population and household counts have increased in recent years, with projections calling for continued population growth and a sizable increase in households. A renter-occupied share near two-fifths of housing units in this radius suggests depth for multifamily demand, which can aid leasing velocity and retention.
From a cost-of-living lens, neighborhood median contract rents are mid-market and rent-to-income ratios sit at manageable levels, a combination that can mitigate affordability pressure and help sustain lease renewal rates. Elevated ownership costs relative to incomes compared with many U.S. neighborhoods further reinforce reliance on rental housing, an investor-positive dynamic for tenant retention.
Local amenities skew practical rather than lifestyle-centric: grocery and restaurant access is reasonable for an inner-suburban location, while cafés and parks are thinner in the immediate area. For investors, that mix aligns with workforce-oriented demand drivers and underscores the value of on-site features and management quality to differentiate versus nearby stock.
Safety indicators are mixed in the immediate area. The neighborhood’s crime rank sits around the metro midpoint (111 out of 216), while national comparisons place the area below the U.S. median for safety (violent and property offense percentiles in the lower half). Recent trends are nuanced: estimated violent offense rates show modest year-over-year improvement, whereas property offenses indicate a recent uptick.
For underwriting and operations, investors may prioritize well-lit common areas, access control, and resident engagement to support retention and asset performance; these measures are typical for inner-suburban properties with mid-pack regional safety profiles.
Proximity to major corporate offices underpins renter demand by shortening commutes and broadening the tenant base, notably in banking, consumer products, and apparel. Featured employers include BB&T Corp., Reynolds American, Hanesbrands, and VF.
- BB&T Corp. — banking (5.7 miles) — HQ
- Reynolds American — consumer products/tobacco (5.8 miles) — HQ
- Hanesbrands — apparel (9.4 miles) — HQ
- VF — apparel & footwear (30.5 miles) — HQ
This 88-unit asset, built in 1983, is older than the neighborhood’s average construction vintage, creating a clear value-add path through unit modernization and systems upgrades. Neighborhood fundamentals are favorable: an A-rated Inner Suburb location ranks 32 of 216 in the metro, neighborhood occupancy trends above national medians, and ownership costs relative to incomes lean supportive of long-term renter reliance. According to CRE market data from WDSuite, the surrounding area exhibits steady rent levels and manageable rent-to-income ratios, which can aid tenant retention and reduce turnover volatility.
Within a 3-mile radius, recent population growth and a projected increase in households point to a larger tenant base ahead. While lifestyle amenities are modest in the immediate area, access to major employers provides a stable demand engine. Investors should account for typical capex associated with 1980s construction and consider property management practices that address mixed safety signals to sustain leasing performance.
- A-rated neighborhood, top-quartile local rank, and occupancy above national medians support stability
- 1983 vintage offers value-add potential via renovations and building system improvements
- Growing 3-mile population and expanding households enlarge the renter pool and aid leasing
- Proximity to major employers underpins workforce demand and retention
- Risks: mixed safety metrics and thinner lifestyle amenities call for proactive management and resident experience investments