| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 54th | Good |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 851 W 4th St, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1999 |
| Units | 23 |
| Transaction Date | 2020-09-24 |
| Transaction Price | $439,000 |
| Buyer | EVANS GREGORY FRANCIS FELIX |
| Seller | DUNN WARREN JAMES |
851 W 4th St, Winston-Salem NC Multifamily Opportunity
Renter demand is supported by a high neighborhood renter concentration and strong amenity access, while neighborhood-level occupancy has been softer according to WDSuite’s CRE market data.
Located at 851 W 4th St in Winston-Salem’s Inner Suburb, the property sits in a neighborhood rated A+ and competitive among Winston-Salem neighborhoods (ranked 3 out of 216). Amenity density is a core strength: restaurants and grocery options are among the strongest locally (both ranked 1 out of 216 neighborhoods), with national amenity percentiles in the 90s indicating a destination for daily needs and dining. Parks access also trends strong nationally, supporting livability for tenants.
The 1999 vintage is newer than the neighborhood’s older housing stock (average construction year 1959 across the metro ranking set of 216), which typically helps smaller assets compete on finishes and systems. Investors can plan for ongoing modernization as needed, but the relative age positioning versus nearby stock can support leasing and retention.
Neighborhood-level data show roughly two-thirds of housing units are renter-occupied, signaling depth in the tenant base for multifamily. However, neighborhood occupancy (not the property’s) has trended softer recently and sits below national norms, suggesting leasing execution and tenant retention are important focus areas. Median rent burdens in the neighborhood imply moderate affordability pressure (rent-to-income around the mid-20% range), which can influence renewal strategies and pricing power.
Within a 3-mile radius, households have increased over the past five years and are projected to expand further by 2028, while average household size is expected to edge lower. This dynamic typically points to a larger renter pool and sustained demand for smaller units, supporting occupancy stability for well-managed properties. These trends, based on CRE market data from WDSuite, align with urban infill patterns where proximity to jobs and services underpins multifamily demand.
Neighborhood safety benchmarks trail national averages, with crime metrics positioned in lower national percentiles. Within the Winston-Salem metro, the neighborhood’s crime ranking places it below the metro median (rank 125 out of 216 neighborhoods). While overall levels warrant prudent risk management, recent data indicate violent offense rates have improved year over year, suggesting directional progress. Investors should underwrite security measures, lighting, and resident engagement to support retention and community perception.
Proximity to major corporate offices supports a stable renter base seeking commute convenience to downtown and regional employers. Nearby anchors include BB&T Corp., Reynolds American, Hanesbrands, and VF, which contribute to steady professional employment in the area.
- BB&T Corp. — corporate offices (0.6 miles) — HQ
- Reynolds American — corporate offices (0.7 miles) — HQ
- Hanesbrands — corporate offices (6.4 miles) — HQ
- VF — corporate offices (25.6 miles) — HQ
This 23-unit, 1999-vintage asset is well-positioned in a high-amenity, downtown-adjacent neighborhood where renter concentration is elevated and daily conveniences are abundant. The vintage is newer than much of the surrounding housing stock, which can enhance competitiveness versus older properties while leaving room for targeted upgrades to drive rent and retention. According to CRE market data from WDSuite, neighborhood-level occupancy has been softer, making hands-on leasing, renewals, and unit turns central to the asset’s thesis.
Investor takeaways center on depth of tenant demand supported by employment access, strong local amenities, and projected household growth within a 3-mile radius, which together can underpin leasing stability. Balancing these positives, underwriting should account for neighborhood safety considerations and conservative lease-up/renewal assumptions.
- Newer 1999 vintage versus nearby stock supports competitive positioning with selective value-add potential
- Elevated renter-occupied share indicates depth of tenant base and supports occupancy over time
- High amenity access (dining, groceries, parks) enhances livability and leasing appeal
- 3-mile household growth outlook points to renter pool expansion and demand resilience
- Risk: neighborhood-level occupancy and safety benchmarks warrant conservative underwriting and proactive management