| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 34th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 803 Utah Dr, Winston Salem, NC, 27107, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1981 |
| Units | 40 |
| Transaction Date | 2010-12-30 |
| Transaction Price | $810,000 |
| Buyer | BOWERY LIVING LLC |
| Seller | SEFRASH LLC |
803 Utah Dr, Winston-Salem NC Multifamily Investment
Renter demand is supported by a high neighborhood share of renter-occupied units and occupancy that is competitive within the metro, according to WDSuite’s CRE market data. For a 1981 asset, the thesis centers on durable workforce housing demand with potential value-add upside.
This Inner Suburb location in Winston-Salem shows leasing fundamentals that are competitive among 216 metro neighborhoods: the neighborhood s occupancy trend sits above the metro median and in the top half nationally, based on CRE market data from WDSuite. The neighborhood also carries a high renter concentration (share of housing units that are renter-occupied), which typically supports a deeper tenant base for multifamily.
Livability factors skew utilitarian rather than amenity-rich. Local counts for parks, groceries, cafes, restaurants, and pharmacies rank at the bottom of the metro (216th of 216), so residents likely rely on broader Winston-Salem corridors for daily needs. For investors, that points to workforce positioning and the importance of on-site features and management to drive retention.
Housing stock in the area averages mid-1980s vintage (1984 average versus this property s 1981 construction), suggesting modest age-related capital planning. For a 1981 asset, selective renovations and systems modernization could enhance competitiveness versus nearby 1980s product.
Within a 3-mile radius, population and households have grown recently and are projected to expand further, indicating a larger tenant base over the next cycle. Median contract rents in the vicinity remain accessible relative to incomes, which can support steady lease-up but may temper near-term pricing power. Elevated ownership remains relatively more accessible in this part of the metro, so leasing strategy should emphasize value and convenience to mitigate competition from entry-level ownership options.
Safety indicators for the neighborhood track below national norms, with crime metrics positioned in the lower national percentiles and a rank that places it below the metro median (74th out of 216 indicates comparatively higher crime within Winston-Salem). Even so, recent trends show improvement in violent offenses, which declined year over year and rank favorably for improvement nationally. Investors should underwrite security, lighting, and community management as part of operations and tenant retention planning.
Proximity to major headquarters in Winston-Salem supports a stable employment base and commute convenience for workforce renters, including financial services and consumer goods. The following nearby employers anchor demand referenced in underwriting.
- BB&T Corp. — banking (4.2 miles) — HQ
- Reynolds American — consumer products (4.3 miles) — HQ
- Hanesbrands — apparel (9.8 miles) — HQ
- VF — apparel (21.7 miles) — HQ
- Laboratory Corp. of America — diagnostics (41.6 miles) — HQ
803 Utah Dr offers a 40-unit, 1981-vintage positioning in a renter-heavy neighborhood where occupancy trends are competitive within the Winston-Salem metro. According to CRE market data from WDSuite, the surrounding neighborhood s renter-occupied share is high, reinforcing depth of tenant demand for workforce housing. The asset s slightly older-than-average vintage suggests manageable capital planning with clear value-add pathways in interiors and building systems to sharpen leasing and retention.
Within a 3-mile radius, recent growth in population and households, alongside projections for further expansion, point to a larger renter pool over the next several years. While home values in this part of the metro are relatively accessible, which can create some competition from entry-level ownership, rent-to-income levels indicate room for cautious rent optimization while prioritizing renewal and resident experience.
- Competitive neighborhood occupancy supporting leasing stability
- High renter-occupied share indicates a deep tenant base
- 1981 vintage with value-add and systems modernization potential
- 3-mile area demographics point to renter pool expansion
- Risks: limited nearby amenities and below-average safety require active management