| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 74th | Best |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1520 Bridford Pkwy, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | 2016-07-11 |
| Transaction Price | $31,842,000 |
| Buyer | MDO BRIDFORD LAKE INVESTORS LLC |
| Seller | CORE REALTY HOLDINGS VP LLC |
1520 Bridford Pkwy Greensboro Multifamily Investment
Renter concentration and steady household growth in the surrounding inner-suburb submarket support durable leasing, according to WDSuite’s CRE market data. With a 1998 vintage and 20 units, the asset targets workforce demand in a location with everyday amenities and commute convenience.
This inner-suburb location in Greensboro-High Point ranks 22 out of 245 metro neighborhoods (A-rated), indicating competitive livability and demand drivers for multifamily investors. Neighborhood occupancy is in the high-80s and has softened modestly over five years; positioning and asset management will matter for retention and rent trade-outs.
Amenities are a practical strength: restaurants (ranked 28 of 245) and cafes (27 of 245) are competitive among Greensboro-High Point neighborhoods, while grocery access sits in the top quartile metro-wide (56 of 245) alongside pharmacies (41 of 245). Park access and licensed childcare are limited in the immediate area, so on-site offerings and nearby private services can help round out the resident experience. This mix aligns with workforce renters seeking convenience over destination retail.
The property’s 1998 construction is newer than the neighborhood’s average 1989 vintage, supporting relative competitiveness versus older stock; investors should still plan for periodic systems upgrades and selective interior refresh to sustain leasing velocity. Neighborhood renter-occupied share is elevated (55%; ranked 25 of 245), indicating a deep tenant base and solid depth for multifamily demand.
Within a 3-mile radius, population and households have grown in recent years with forecasts pointing to further gains into the medium term, expanding the renter pool and supporting occupancy stability. Median contract rents in the neighborhood have risen meaningfully over five years, while rent-to-income levels remain moderate, a combination that can aid lease retention and measured rent growth. In a market where home values are relatively accessible by national standards, multifamily assets should emphasize convenience, amenities, and unit quality to maintain pricing power. These dynamics are consistent with findings from WDSuite-backed commercial real estate analysis.
Safety signals are mixed and should be evaluated alongside property-specific measures. At the metro level, the neighborhood’s crime rank is 113 out of 245 — roughly around the Greensboro-High Point median. Compared with neighborhoods nationwide, safety percentile readings indicate a less favorable position, but recent year-over-year declines in both violent and property offenses suggest improvement momentum based on WDSuite’s data.
For investors, this points to the importance of visible security protocols, lighting, and resident engagement to support retention, while also recognizing that regional trends have been moving in a better direction. Underwriting should account for current conditions and recent trendlines rather than block-level anecdotes.
Nearby headquarters and corporate offices broaden the employment base and support renter demand through commute convenience, including VF, Reynolds American, BB&T, Hanesbrands, and Labcorp.
- VF — apparel (7.9 miles) — HQ
- Reynolds American — tobacco products (19.5 miles) — HQ
- BB&T Corp. — banking (19.6 miles) — HQ
- Hanesbrands — apparel (22.6 miles) — HQ
- Laboratory Corp. of America — diagnostics (26.2 miles) — HQ
1520 Bridford Pkwy combines a demand-supportive inner-suburb location with a 1998 vintage across 20 units averaging roughly 1,060 square feet, positioning the asset competitively against older neighborhood stock. Elevated renter concentration at the neighborhood level and growing 3-mile household counts point to a larger tenant base, while moderate rent-to-income levels support lease retention. Median home values in the area are relatively accessible compared with national markets, so emphasizing convenience, finish quality, and management execution can help sustain pricing power versus ownership alternatives.
Based on CRE market data from WDSuite, neighborhood occupancy has eased slightly over five years but remains consistent with stabilized inner-suburban patterns, suggesting that asset quality and operational focus should drive outcomes. The vintage supports light value-add potential — targeted interior updates and common-area improvements — while planning for routine systems capex over the hold.
- Inner-suburb fundamentals with competitive amenity access and a deep renter base support ongoing demand.
- 1998 vintage offers relative competitiveness vs. older stock, with scope for selective value-add to lift rents and retention.
- Household growth within 3 miles expands the tenant pool and supports occupancy stability over time.
- Risks: safety benchmarks compare less favorably nationwide and homeownership is relatively accessible; proactive security, amenity execution, and unit quality are important to sustain pricing power.