| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Good |
| Demographics | 63rd | Best |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 910 Delmonte Dr, Winston Salem, NC, 27106, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1973 |
| Units | 60 |
| Transaction Date | 2010-08-30 |
| Transaction Price | $1,535,000 |
| Buyer | FERRELL E VERNON |
| Seller | DILLARD DOUGLAS |
910 Delmonte Dr Winston-Salem Multifamily Investment
Neighborhood renter demand is deep, with a high share of renter-occupied units and grocery access supporting day-to-day livability; neighborhood occupancy is measured at the neighborhood level, not the property, and trends around the metro average according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of Winston-Salem, the property benefits from practical amenities and a renter-oriented housing base. Grocery access is a relative strength — the neighborhood ranks highly within the metro (9 out of 216), placing it in the top quartile nationally, while restaurants are present at competitive levels. Parks, cafes, childcare, and pharmacies are thinner locally, so residents rely more on core retail corridors for services.
At the neighborhood level, occupancy is 90.4%, roughly around the metro median among 216 neighborhoods, which helps frame baseline leasing expectations. The share of housing units that are renter-occupied is elevated (about 83% in the neighborhood), indicating depth in the tenant base and reinforcing demand for multifamily product. Median contract rents in the immediate neighborhood are positioned at the lower half of national benchmarks, which can aid lease retention, though it may limit near-term pricing power without clear renovation value.
Within a 3-mile radius, demographics show modest recent softness in population but a small increase in households, and forward-looking projections point to a larger tenant base: households are expected to grow meaningfully over the next five years, supporting occupancy stability and leasing velocity for workforce-oriented units. Median incomes are mixed at the neighborhood level — lower relative to many U.S. submarkets — but the rent-to-income ratio near 0.24 suggests manageable affordability pressure that can support retention with disciplined lease management.
Vintage matters for underwriting: constructed in 1973, the asset is older than the neighborhood’s average 1995 build year, implying potential capital planning for systems, interiors, and common areas. For investors, this creates value-add and repositioning pathways to improve competitiveness versus newer stock.
Safety indicators are mixed in this neighborhood relative to broader benchmarks. By national comparison, the area sits below the median for safety (around the 35th percentile), but recent trends show improvement in violent offenses over the last year. Within the Winston-Salem metro, safety levels track around the metro median among 216 neighborhoods. Investors should consider standard multifamily safety measures and property-level controls in underwriting and operations.
Proximity to several corporate headquarters supports a stable commuter renter base and reduces friction for retention. The following nearby employers anchor white-collar and diversified office employment in the area.
- Hanesbrands — apparel HQ offices (3.2 miles) — HQ
- Reynolds American — consumer products HQ offices (3.4 miles) — HQ
- BB&T Corp. — financial services HQ offices (3.6 miles) — HQ
- VF — apparel & lifestyle brands HQ (26.3 miles) — HQ
This 1973, 60-unit asset sits in a renter-heavy neighborhood with grocery convenience and neighborhood occupancy around the metro median, supporting baseline stability. Rents benchmark below national medians, creating a platform for value-add upgrades that can enhance positioning versus younger stock while maintaining competitive affordability for retention. According to CRE market data from WDSuite, the neighborhood’s renter concentration and access to daily-needs retail underpin consistent multifamily demand.
Looking ahead, 3-mile demographic projections indicate a notable increase in households, which should expand the tenant pool and aid leasing velocity. Balanced against this, ownership costs nearby are relatively accessible compared with higher-cost metros, so pricing strategy should emphasize renovated quality and convenience to sustain occupancy and limit move-outs.
- Renter-heavy neighborhood and grocery access support everyday livability and demand
- Value-add potential from 1973 vintage through systems upgrades and interior renovations
- 3-mile household growth outlook expands the tenant base and supports leasing
- Neighborhood rents sit below national benchmarks, aiding retention with disciplined pricing
- Risks: safety below national median and limited park/cafe coverage; underwriting should include security and amenity plans