| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 10th | Poor |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 990 E 3rd St, Winston Salem, NC, 27101, US |
| Region / Metro | Winston Salem |
| Year of Construction | 1972 |
| Units | 26 |
| Transaction Date | 2019-12-20 |
| Transaction Price | $2,080,000 |
| Buyer | POTLURI VENTURES2 LLC |
| Seller | 900 EAST THIRD LLC |
990 E 3rd St Winston-Salem Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base, while occupancy trends are improving even if levels remain softer than the metro, according to WDSuite s CRE market data. Proximity to downtown employers and day-to-day amenities underpins steady demand for well-managed units.
The property sits in an Inner Suburb of Winston-Salem with everyday conveniences close by. Neighborhood amenity access ranks competitively within the metro (top quartile among 216 neighborhoods), driven by grocery and pharmacy density, while restaurants are relatively easy to reach. Park access and caf density are limited, which may modestly affect lifestyle appeal for some residents.
Renter-occupied housing accounts for a large share of neighborhood units (among the highest concentrations in the metro), pointing to a broad tenant pool and durable leasing activity for multifamily. Neighborhood occupancy has trended higher over the past five years but remains below the metro median, suggesting operational upside for properties that differentiate on condition or management.
Within a 3-mile radius, population and household counts have inched up and are projected to continue growing, indicating gradual renter pool expansion that can support occupancy stability. Median contract rents in the area remain comparatively accessible, and the rent-to-income profile suggests manageable affordability pressure that can aid retention and measured rent growth.
Home values in the neighborhood are lower than many national peers, which can introduce some competition from ownership. Even so, elevated renter concentration and commute-friendly access to central employment nodes help sustain multifamily demand and leasing continuity.
Neighborhood safety indicators compare below national medians, with both property and violent offense rates elevated relative to many U.S. neighborhoods. At the metro level, the neighborhood s crime standing sits below the median among 216 Winston-Salem neighborhoods. Notably, recent data show a year-over-year decline in violent offenses, signaling some improvement in trend, based on CRE market data from WDSuite. Investors often underwrite with enhanced security measures and active management to support resident comfort and retention.
Downtown Winston-Salem anchors a diversified white-collar employment base that supports renter demand and short commutes for residents, led by corporate offices for Reynolds American, BB&T Corp., Hanesbrands, and VF.
- Reynolds American corporate offices (0.6 miles) HQ
- BB&T Corp. corporate offices (0.7 miles) HQ
- Hanesbrands corporate offices (6.5 miles) HQ
- VF corporate offices (24.3 miles) HQ
This 26-unit asset benefits from a neighborhood with one of the highest renter concentrations in the metro, proximity to major downtown employers, and improving occupancy momentum. While current neighborhood occupancy levels trail the metro median, the combination of a sizable tenant base, commute convenience, and comparatively accessible rents supports leasing durability and measured pricing power, based on CRE market data from WDSuite.
Within a 3-mile radius, recent household growth and projections for additional increases point to a larger renter pool ahead, which can bolster occupancy stability. Lower relative home values may temper outsized rent growth in certain vintages, but they also reinforce the role of multifamily as an accessible option, particularly for workforce households seeking well-managed properties near employment centers.
- High renter-occupied share signals deep tenant base and steady leasing
- Downtown corporate anchors within short drive support demand and retention
- Improving neighborhood occupancy trend with potential operational upside
- Pricing supported by comparatively accessible area rents and commute convenience
- Risks: below-median safety indicators and limited park/caf access may require active management and amenity strategy