| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 47th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1350 Norwalk St, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 2007 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1350 Norwalk St Greensboro Multifamily Investment
Positioned in an inner-suburban pocket with durable renter demand and neighborhood occupancy near the low-90s, this 120-unit asset offers scale in a steady leasing environment. Momentum reflects local fundamentals that, according to WDSuite’s CRE market data, compare competitively within the Greensboro-High Point metro.
Rated B+ and competitive among 245 Greensboro-High Point neighborhoods, the area around 1350 Norwalk St balances convenience with investment practicality. Cafes and grocery options are relatively dense for the metro (stronger than many neighborhoods nationally), while parks and pharmacies are sparse in the immediate vicinity—an operational consideration for resident lifestyle positioning.
The neighborhood s multifamily context is favorable: occupancy trends sit around the metro middle, and rent levels remain accessible relative to local incomes, supporting retention over the hold period. With a neighborhood average construction year of 1981, the subject s 2007 vintage is newer than much of the competitive set, which can aid leasing and reduce near-term capital planning compared with older stock; however, selective system updates and common-area refreshes may still be warranted to sustain competitive positioning.
Within a 3-mile radius, demographics indicate a balanced age mix and a renter-occupied share a little over half of housing units, suggesting depth in the tenant base. Recent years show population and household growth, and forecasts point to continued household expansion through 2028 a dynamic that supports leasing velocity and occupancy stability for well-managed assets. For multifamily property research, the data signal steady demand drivers without relying on outsized in-migration assumptions.
Income trends in the 3-mile area have been rising, while median contract rents remain moderate, reinforcing a value-oriented appeal that can sustain lease renewals. For positioning, investors can emphasize convenience to daily needs (notably groceries and dining) and frame the property as a practical option for residents seeking modern construction relative to older neighborhood stock.
Safety indicators for the neighborhood track near the metro middle, with a crime rank of 91 out of 245 neighborhoods in Greensboro-High Point competitive among local peers but not top-quartile nationally. Compared with neighborhoods nationwide, current levels sit below stronger percentiles, yet recent year-over-year trends show meaningful improvement: both property and violent offenses have declined, placing the neighborhood s improvement rates well above national averages.
For investors, the takeaway is pragmatic: conditions are improving on a trend basis, but ongoing monitoring and standard property-level measures (lighting, access control, and partnerships with community safety programs) remain prudent for resident satisfaction and retention.
Proximity to established corporate employers underpins renter demand, offering commute-friendly access for a diverse workforce. Notable nearby headquarters span apparel, tobacco, banking, diagnostics, and consumer goods all reflected below in order of distance.
- VF apparel (6.1 miles) HQ
- Reynolds American tobacco (21.4 miles) HQ
- BB&T Corp. banking (21.5 miles) HQ
- Laboratory Corp. of America diagnostics (24.1 miles) HQ
- Hanesbrands consumer goods (24.2 miles) HQ
Built in 2007, this 120-unit community is newer than much of the surrounding 1980s-era stock, providing a competitive edge on curb appeal and functionality while keeping an eye on mid-life system maintenance. Neighborhood occupancy trends are steady and rents remain approachable relative to incomes, supporting retention and predictable cash flow when paired with conscientious lease management. According to CRE market data from WDSuite, the location is competitive among Greensboro-High Point neighborhoods, with strong access to daily needs like groceries and dining offset by fewer nearby parks and pharmacies.
Within a 3-mile radius, recent and projected household growth points to a larger tenant base through 2028, and a renter-occupied share just over half indicates durable multifamily demand. Strategic, light value-add focused on interiors and amenity touchpoints could capture rent premiums over older comparables without overextending capital budgets.
- 2007 vintage vs. older neighborhood stock supports leasing and reduces near-term capex risk
- Steady neighborhood occupancy and approachable rents bolster renewal potential and cash flow stability
- 3-mile household growth and a sizable renter base expand the tenant pool over the hold
- Nearby corporate headquarters underpin employment access and leasing demand
- Risks: limited nearby parks/pharmacies and mid-block safety considerations warrant ongoing monitoring and property-level measures