| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 10th | Poor |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 930 E 3rd St, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2019-12-20 |
| Transaction Price | $2,080,000 |
| Buyer | POTLURI VENTURES2 LLC |
| Seller | 900 EAST THIRD LLC |
930 E 3rd St, Winston-Salem Multifamily Investment
Positioned in an inner-suburb pocket with a deep renter base, the asset benefits from steady multifamily demand even as neighborhood occupancy trends remain mixed, according to WDSuite s CRE market data. This balance supports durable cash flow potential with room for operational execution.
The property sits in an Inner Suburb of Winston-Salem where day-to-day retail access is workable: grocery and pharmacy presence rank competitively within the metro (52nd and 8th out of 216 neighborhoods), while parks and cafes are limited. That combination suggests convenience for essentials but fewer lifestyle amenities, which can favor value-oriented renters.
Within this neighborhood, an estimated two-thirds of housing units are renter-occupied (ranked 7th of 216), indicating a large tenant pool and depth for multifamily leasing. By contrast, neighborhood occupancy is below the metro median (ranked 179th of 216), pointing to leasing execution and resident retention as important drivers of performance.
Construction vintage across the neighborhood centers around the early 1970s (average rank 145 of 216). This generally older stock can reward targeted renovations and capex discipline to stay competitive against newer product in the broader Winston-Salem market.
Demographic statistics aggregated within a 3-mile radius show modest population growth and a rising household count, expanding the renter pool over time. Median contract rents in the surrounding area remain accessible relative to many metros, supporting absorption for workforce-oriented units while still requiring attention to affordability and lease management.
Relative to the metro, this neighborhood s safety profile sits below the median (ranked 119th out of 216), and it underperforms most neighborhoods nationally. Recent trends are mixed: violent incidents have eased year over year, while property-related offenses ticked up. For investors, this argues for proactive security measures and resident engagement to support retention and occupancy.
Nearby corporate anchors provide a stable employment base and convenient commutes for renters, led by headquarters in banking, consumer goods, and diagnostics. The following employers are within practical distance and support leasing depth for workforce housing.
- Reynolds American corporate offices & tobacco (0.5 miles) HQ
- BB&T Corp. banking headquarters (0.6 miles) HQ
- Hanesbrands apparel headquarters (6.5 miles) HQ
- VF apparel & footwear headquarters (24.4 miles) HQ
- Laboratory Corp. of America diagnostics & lab services (44.6 miles) HQ
930 E 3rd St is a 24-unit 1972-vintage asset positioned for value-focused operations in a renter-heavy neighborhood. According to CRE market data from WDSuite, the immediate area shows one of the metro s higher renter concentrations, while neighborhood occupancy trails the metro median an execution opportunity for owners who prioritize leasing, renewals, and resident services. Nearby headquarters across finance and consumer goods further reinforce a steady employment base for workforce renters.
Demographic statistics aggregated within a 3-mile radius point to modest population growth and a notable increase in households over the past period, with additional household expansion projected. For a 1970s property, targeted renovations and systems updates can improve competitive positioning versus newer product, while prudent affordability management can sustain retention in a market where home values are comparatively accessible and may compete with renting.
- Large renter-occupied share nearby supports a deep tenant base and leasing velocity.
- Headquarters cluster and diversified employers underpin demand for workforce housing.
- 1972 vintage offers value-add potential through targeted renovations and capex planning.
- Household growth within 3 miles supports occupancy stability and renewal potential over time.
- Risk: Neighborhood occupancy lags metro levels; performance depends on active leasing and retention strategies.