| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 27th | Poor |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1018 S Josephine Boyd St, Greensboro, NC, 27403, US |
| Region / Metro | Greensboro |
| Year of Construction | 2005 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1018 S Josephine Boyd St Greensboro Multifamily Investment
Neighborhood renter concentration is elevated and occupancy has trended upward in recent years, suggesting a durable tenant base for an 84-unit asset, according to WDSuite’s CRE market data. Positioning focuses on steady demand and rent management rather than outsized growth.
Located in Greensboro’s Inner Suburb, the property benefits from a renter-oriented neighborhood profile and a mix of everyday conveniences. Restaurants are dense for the metro (ranked 9 out of 245 Greensboro-High Point neighborhoods), while grocery access is competitive (40 of 245). By contrast, parks, pharmacies, and cafes are limited in the immediate area, which may modestly affect lifestyle appeal but typically has less impact on core workforce demand.
The average housing stock nearby dates to 1953, while this property was built in 2005. The newer vintage gives a competitive edge versus older comparables and may reduce near-term deferred capital relative to mid-century product, though investors should still plan for system updates as the asset matures.
Renter-occupied share in the neighborhood is high (52.6%), indicating strong renter concentration and a deeper tenant pool for multifamily leasing. Neighborhood occupancy is in the lower half of the metro (205 of 245) but has improved over the last five years, supporting a case for stabilization. Median contract rents at the neighborhood level sit below many national peers, which can aid leasing velocity and retention when paired with disciplined renewal strategies.
Within a 3-mile radius, demographics show modest population growth historically with a projected increase in both population and households over the next five years. A larger renter base and income gains are expected to support occupancy stability and measured rent growth. These trends align with what investors often target for workforce housing, based on CRE market data from WDSuite.
Home values in the neighborhood are relatively low for the nation, which can introduce some competition from ownership options. Even so, rent-to-income ratios remain moderate locally, helping support lease retention and reduce turnover sensitivity when pricing is managed prudently.
Safety indicators sit roughly around national medians, with the neighborhood ranked 77 out of 245 within the Greensboro-High Point metro, and a national safety percentile near the middle of the pack. Recent trends are constructive: both violent and property offense rates have moved lower year over year, suggesting improving conditions rather than a structural shift in risk. As always, investors should evaluate property-level measures and asset operations in addition to neighborhood context.
Proximity to major employers underpins steady renter demand, with commutes to apparel, diagnostics, tobacco, banking, and apparel corporate hubs that can support leasing and retention at workforce-oriented communities.
- VF — apparel HQ (4.5 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (21.3 miles) — HQ
- Reynolds American — tobacco HQ (24.1 miles) — HQ
- BB&T Corp. — banking HQ (24.2 miles) — HQ
- Hanesbrands — apparel HQ (26.6 miles) — HQ
Built in 2005 with 84 units, the asset competes favorably against predominantly mid-century stock in the immediate area. Neighborhood rent levels are comparatively accessible, and renter concentration is high, supporting a broad tenant base and consistent leasing. According to commercial real estate analysis from WDSuite, neighborhood occupancy has improved over the last five years, and 3-mile demographic trends point to a growing renter pool that can underpin steady absorption and renewal performance.
The investment case centers on durable workforce demand, operational execution, and selective capital planning. The newer vintage relative to nearby stock provides a positioning advantage, while moderate rent-to-income levels and proximity to regional employers support retention. Risks include below-median neighborhood occupancy and limited park/pharmacy amenities, which place a premium on on-site services and asset management to sustain leasing velocity.
- Newer 2005 vintage versus older neighborhood stock supports competitive positioning and reduces near-term deferred items.
- High renter concentration and improving neighborhood occupancy underpin demand stability and renewal potential.
- 3-mile population and household growth expands the tenant base, supporting steady absorption.
- Proximity to diversified regional employers supports leasing and retention for workforce housing.
- Risks: neighborhood occupancy below metro median and limited nearby parks/pharmacies require strong asset operations.