| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 19th | Poor |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1107 Fuller St, Greensboro, NC, 27403, US |
| Region / Metro | Greensboro |
| Year of Construction | 1986 |
| Units | 21 |
| Transaction Date | 2018-10-31 |
| Transaction Price | $1,050,000 |
| Buyer | LUCERNE RESIDENTIAL LLC |
| Seller | MEMORY CORP |
1107 Fuller St Greensboro Multifamily Investment Opportunity
Neighborhood occupancy has trended up in recent years and a meaningful renter base supports steady leasing, according to WDSuite’s CRE market data. This 21-unit asset offers attainable rents relative to local incomes, positioning it for durable demand.
Located in Greensboro’s inner suburb fabric, the property sits in a neighborhood rated C+ (ranked 146 out of 245 metro neighborhoods). Local occupancy is 90.1% and has improved over the past five years, supporting baseline stability for multifamily investors. Median contract rents in the neighborhood are modest, which can aid lease-up and retention while keeping pricing power balanced.
Amenity access skews practical rather than lifestyle-driven. Grocery and pharmacy density are strong (both in the mid‑80s to mid‑90s national percentiles), while cafes and parks are limited. For investors, that mix points to everyday convenience for residents but less of a premium amenity draw.
The area’s housing stock averages 1967, while this property was built in 1986. Being newer than neighborhood average can support competitive positioning against older inventory; investors should still underwrite for modernization of finishes and building systems as part of a value‑add plan.
Tenure patterns indicate a balanced base of renters and owners at the neighborhood level (renter‑occupied share of housing units at 45.2%), suggesting depth for multifamily demand without overwhelming turnover risk. Home values are comparatively lower locally, which can introduce some competition from ownership options and warrants disciplined rent setting and amenity strategy.
Within a 3‑mile radius, population and households have grown in recent years, and WDSuite’s data indicates further increases ahead, implying a larger tenant base over time. Household growth alongside relatively moderate rent-to-income levels (neighborhood ratio at 0.20) supports occupancy stability but calls for attentive lease management as incomes and rents evolve.
Safety conditions are mixed and should be evaluated with current comps and management practices. The neighborhood’s overall crime rank is 128 out of 245 metro neighborhoods, and safety sits below national averages based on national percentiles. However, recent trend data shows property offenses declining year over year, which is a constructive signal to monitor for sustained improvement.
Investors should apply prudent assumptions for security, lighting, and resident screening, and track neighborhood trends over multiple periods rather than relying on a single snapshot.
Nearby employers provide a diversified white‑collar and services employment base that supports renter demand and commute convenience, including VF, Labcorp, Reynolds American, BB&T, and Hanesbrands.
- VF — apparel HQ (4.4 miles) — HQ
- Laboratory Corp. of America — diagnostics & labs (21.4 miles) — HQ
- Reynolds American — consumer products (24.1 miles) — HQ
- BB&T Corp. — financial services (24.1 miles) — HQ
- Hanesbrands — apparel (26.6 miles) — HQ
1107 Fuller St comprises 21 units built in 1986, offering a relatively newer vintage versus much of the neighborhood’s older stock. That positioning can support leasing competitiveness with selective upgrades to interiors and building systems, while neighborhood occupancy at 90.1% and improving trendlines point to stability. Within a 3‑mile radius, WDSuite data shows population growth and a larger household base ahead, which can translate into a deeper renter pool over time.
Rents in the immediate area remain attainable against local incomes, reinforcing retention, while a balanced renter‑occupied share suggests steady demand. According to CRE market data from WDSuite, practical amenity access (notably groceries and pharmacies) aligns with workforce‑oriented demand, though limited parks and cafe density reduce premium lifestyle appeal. Key underwriting considerations include school quality, safety below national averages, and potential competition from relatively accessible homeownership.
- 1986 vintage newer than area average, supporting competitive leasing with targeted upgrades
- Neighborhood occupancy at 90.1% with recent improvement supports baseline stability
- 3‑mile radius shows population and household growth, expanding the renter pool
- Attainable rents relative to incomes aid retention; grocery/pharmacy access supports daily convenience
- Risks: below‑average school ratings, safety below national norms, and competition from more accessible ownership