| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 73rd | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1308 Fleming Rd, Greensboro, NC, 27410, US |
| Region / Metro | Greensboro |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2020-02-13 |
| Transaction Price | $5,300,000 |
| Buyer | 1308 FLEMING ROAD LLC |
| Seller | FLEMING APARTMENTS LLC |
1308 Fleming Rd, Greensboro 24-Unit Multifamily
Stabilized inner-suburb location with steady renter demand and improving safety trends, according to WDSuite’s CRE market data. Occupancy at the neighborhood level trails the metro median, but daily-needs access and a balanced renter base support leasing resilience.
The property sits in an Inner Suburb of Greensboro-High Point where neighborhood quality is rated A+ (ranked 8 out of 245 metro neighborhoods). Amenities are competitive among Greensboro neighborhoods, with groceries particularly strong (ranked 6 of 245; top quartile nationally) and cafés and restaurants testing above metro medians. However, public parks and pharmacies within the immediate neighborhood are limited, so the amenity mix skews toward daily retail rather than recreational space.
Rents in the neighborhood track near national mid-range levels and have risen over the last five years, while the median rent-to-income ratio is 0.18. In investor terms, this suggests manageable affordability pressure and supports lease retention, though ownership looks relatively attainable given local home values and a value-to-income ratio near the national middle — which can introduce some competition with for-sale housing during soft leasing periods.
At the neighborhood scale, occupancy is ranked 158 of 245 (below the metro median). Even so, renter-occupied housing accounts for a meaningful share of units (36.9% renter concentration; ranked 75 of 245, competitive among Greensboro-High Point neighborhoods), which points to a dependable tenant base for multifamily operators. The subject’s 2001 vintage is slightly older than the neighborhood’s average construction year (2004), creating potential value-add through targeted exterior and interior updates and systems modernization.
Demographic indicators aggregated within a 3-mile radius show recent population softness but a projected increase in households by 2028 alongside smaller average household sizes. That combination typically expands the renter pool and supports occupancy stability for well-managed assets. Educational ratings are not available in the current dataset; investors should underwrite schools via third-party diligence if family demand is a key strategy.
Safety signals are mixed but trending favorable. Within the Greensboro-High Point metro, the neighborhood’s crime rank is 6 out of 245, indicating it sits on the higher-crime side locally. In national context, the neighborhood performs better than many peers (around the 72nd percentile for safety compared with neighborhoods nationwide), and both violent and property offense estimates have declined year over year.
For underwriting, the directional improvements — including a sharp estimated drop in property offenses and a material reduction in violent offense rates over the last year — suggest risk moderation, though investors should still calibrate security and insurance assumptions to the local-metro ranking rather than the national percentile alone.
The area draws from a diversified Triad employment base that supports renter demand, led by apparel, tobacco, banking, and life sciences headquarters within commuting reach. These anchors provide a steady pool of professional and operations workers relevant to multifamily leasing.
- VF — apparel HQ (5.4 miles) — HQ
- Reynolds American — tobacco HQ (19.7 miles) — HQ
- BB&T Corp. — banking HQ (19.8 miles) — HQ
- Hanesbrands — apparel HQ (21.6 miles) — HQ
- Laboratory Corp. of America — life sciences HQ (25.5 miles) — HQ
1308 Fleming Rd is a 24-unit, 2001-vintage asset positioned in an A+ rated inner-suburb neighborhood with strong daily-needs access. While neighborhood occupancy ranks below the metro median, grocery and café density are competitive locally and above national mid-range benchmarks, supporting day-to-day livability that aids leasing. The renter-occupied share is solid for the metro, indicating depth in the tenant base. According to CRE market data from WDSuite, ownership costs sit around the national middle and rent-to-income levels are manageable, reinforcing retention but implying some competition from for-sale housing in certain cycles.
Forward-looking demographics aggregated within a 3-mile radius point to household growth and smaller household sizes by 2028, which typically expand the renter pool. The 2001 vintage is slightly older than the neighborhood average construction year, providing a straightforward path for value-add via unit refreshes and building systems planning, while improving safety trends help de-risk operations relative to prior years.
- A+ neighborhood with strong daily-needs access and competitive amenity density
- Renter concentration supports a stable tenant base for a 24-unit asset
- 2001 vintage offers value-add potential through interior updates and systems upgrades
- Projected household growth and smaller household sizes within 3 miles bolster future demand
- Risks: neighborhood occupancy below metro median; limited parks/pharmacies; some competition from ownership options