| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 31st | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1616 E Market St, Greensboro, NC, 27401, US |
| Region / Metro | Greensboro |
| Year of Construction | 1989 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1616 E Market St Greensboro Multifamily Investment Opportunity
Renter demand is supported by a high concentration of renter-occupied housing in the surrounding neighborhood and improving occupancy trends, according to WDSuite’s CRE market data. The 1989 vintage positions the asset competitively versus older local stock while still warranting targeted system upgrades over time.
Located in Greensboro’s inner-suburban fabric, the property sits in a neighborhood rated B- where renter-occupied units account for a sizable share of housing. For multifamily owners, that depth of renter households points to a broader tenant base and supports leasing stability relative to more owner-heavy areas.
Local livability is serviceable with everyday conveniences close by; grocery access scores above many metro peers while restaurants index strong versus neighborhoods nationwide. By contrast, neighborhood-level parks, cafes, childcare, and pharmacies are thinner, which may modestly limit walkable lifestyle appeal but typically matters less for workforce-oriented demand.
Occupancy across the neighborhood has trended higher over the past five years, though it remains below national norms, suggesting ongoing lease-up and retention execution are important. Median home values in the area are elevated relative to local incomes (high value-to-income ratios), which tends to sustain reliance on rentals and can support pricing power when managed alongside rent-to-income considerations.
Demographic statistics aggregated within a 3-mile radius indicate recent population and household growth with further increases projected, implying a gradually expanding renter pool. Household sizes are edging smaller in the outlook, which typically supports steady demand for smaller and mid-size units without relying on new unit construction.
Neighborhood safety metrics track near the national median overall, based on WDSuite’s data. Year over year, both property and violent offense rates have moved lower, indicating improving conditions rather than a deterioration trend.
As always, investors should underwrite to submarket-level patterns and recent comps, using property-specific security measures and tenancy profiles to contextualize the broader neighborhood picture.
Proximity to regional employers supports renter demand through commute convenience, led by nearby headquarters and major office operations in apparel, diagnostics, tobacco, and financial services.
- VF — apparel (3.8 miles) — HQ
- Laboratory Corp. of America — diagnostic testing (18.7 miles) — HQ
- Reynolds American — tobacco (26.5 miles) — HQ
- BB&T Corp. — financial services (26.6 miles) — HQ
- Hanesbrands — apparel manufacturing (28.7 miles) — HQ
This 30-unit, 1989-vintage asset offers exposure to a renter-heavy Greensboro neighborhood where occupancy has improved and the ownership market’s higher value-to-income ratios help sustain rental demand. Newer-than-neighborhood-average construction supports competitive positioning versus older stock, though investors should plan for targeted modernization and aging system capex typical of late-1980s buildings.
Population and household growth within a 3-mile radius point to a gradually expanding tenant base, supporting leasing and renewal prospects. According to commercial real estate analysis from WDSuite, neighborhood rents track in a workforce range while rent-to-income levels call for disciplined pricing and renewal management to preserve retention.
- Renter-heavy neighborhood supports a deeper tenant base and leasing stability.
- 1989 vintage is competitive versus older area stock with value-add potential via selective upgrades.
- Expanding 3-mile population and households indicate a growing renter pool supporting occupancy.
- Elevated ownership costs relative to incomes reinforce rental reliance and pricing power when managed carefully.
- Risks: neighborhood occupancy remains below national norms and incomes are modest, requiring careful rent setting and retention strategy.