| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 33rd | Fair |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1373 Lees Chapel Rd, Greensboro, NC, 27455, US |
| Region / Metro | Greensboro |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | 2018-12-06 |
| Transaction Price | $21,250,000 |
| Buyer | DHC VILLAGE 1373 LLC |
| Seller | VILLAGE 1373 GREENSBORO LLC |
1373 Lees Chapel Rd Greensboro Value-Add Multifamily
Neighborhood data indicates stable occupancy around the metro median and a higher renter-occupied share, supporting depth of tenant demand, according to CRE market data from WDSuite. These metrics reflect the surrounding neighborhood rather than the property and suggest steady leasing fundamentals with room for operational upside.
Located in Greensboro’s inner-suburb fabric, the property sits in a neighborhood rated C+ (ranked 155 of 245 metro neighborhoods), indicating mid-pack fundamentals among Greensboro-High Point sub-areas. Neighborhood occupancy averages 91.2% with modest improvement over five years, placing it around the national middle — a baseline supportive of income stability.
Renter concentration in the neighborhood is elevated versus national norms (ranked 63 of 245; high national percentile), which typically expands the tenant pool and supports leasing durability for small multifamily assets. Within a 3-mile radius, population and household counts have grown over the last five years and are projected to continue increasing, which points to a larger tenant base and potential support for occupancy and absorption.
Local amenity density is limited for cafes, restaurants, parks, and childcare, while grocery access is closer to metro norms. For investors, this can mean residents rely more on near-drive retail corridors rather than walkable nodes, shaping renter expectations and positioning. Average school ratings in the neighborhood trend low versus national benchmarks, which may temper appeal to family renters; however, workforce renters often prioritize commute convenience and value.
Median contract rents in the neighborhood sit above the national midpoint and have trended upward over the past five years, while the rent-to-income profile indicates manageable affordability pressure relative to many markets. Home values are moderate for the region, which can create some competition from entry-level ownership; still, elevated renter-occupied share and ongoing household growth in the 3-mile radius support multifamily demand and lease retention.
Safety indicators are mixed. Within the Greensboro-High Point metro, the neighborhood’s crime rank is 43 out of 245, which places it in a higher-crime tier locally. Nationally, composite measures sit near the middle of the pack, and both property and violent offense rates have posted notable year-over-year declines, according to WDSuite’s CRE market data. For underwriting, this suggests monitoring submarket trends and leaning on property-level security and resident engagement to support retention.
The area draws from a broad Triad employment base, supporting workforce housing demand and commute convenience to nearby corporate hubs including VF, Labcorp, Reynolds American, BB&T, and Hanesbrands.
- VF — apparel HQ (1.7 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (19.3 miles) — HQ
- Reynolds American — consumer goods HQ (26.2 miles) — HQ
- BB&T Corp. — financial services HQ (26.3 miles) — HQ
- Hanesbrands — apparel HQ (27.4 miles) — HQ
Built in 1987, the asset is older than the neighborhood’s average construction vintage, signaling potential value-add through interior upgrades, building systems, and curb appeal. Neighborhood occupancy is around the national midpoint with incremental gains, and renter concentration is high by national standards — both supportive of a stable tenant base. Within a 3-mile radius, recent population and household growth, along with projections for further increases, point to a gradually expanding renter pool that can support occupancy and rent growth over the hold, based on CRE market data from WDSuite.
Amenity density is modest and school ratings are lower than national benchmarks, which may skew demand toward workforce renters rather than families; however, proximity to established corporate employers across the Triad helps underpin leasing. Ownership costs in the area are moderate, so competition from entry-level buying is a consideration, but manageable rent-to-income dynamics and neighborhood renter depth can support retention with thoughtful lease management.
- 1987 vintage offers clear value-add and system modernization potential
- Neighborhood occupancy near national midpoint with improving trend supports income stability
- Elevated renter-occupied share and 3-mile population/household growth expand the tenant base
- Diversified Triad employer presence supports workforce renter demand and retention
- Risks: limited walkable amenities, lower school ratings, localized crime perceptions, and capex for an older asset