| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 53rd | Good |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1625 Spring Garden St, Greensboro, NC, 27403, US |
| Region / Metro | Greensboro |
| Year of Construction | 2007 |
| Units | 60 |
| Transaction Date | 2011-09-01 |
| Transaction Price | $7,500,000 |
| Buyer | --- |
| Seller | The Edge Student Housing LLC |
1625 Spring Garden St Greensboro Multifamily Investment
Neighborhood data points to a deep renter base and ownership costs that favor continued multifamily reliance, according to WDSuite s CRE market data. The core takeaway for investors is durable renter demand supported by a high neighborhood share of renter-occupied units and solid amenity access.
This Inner Suburb location in Greensboro balances livability with investment fundamentals. Neighborhood grocery and pharmacy access are strong (both well above national averages), and restaurants are dense relative to most areas nationwide. In contrast, parks, cafes, and childcare options are limited locally, which may shape the resident mix and amenity expectations for on-site offerings.
Schools in the surrounding area rate in the top quartile nationally, supporting family-friendly positioning without requiring Class A pricing. Median contract rents in the neighborhood sit around the national midpoint, while rent-to-income metrics indicate relatively manageable affordability pressure for residents a factor that can aid renewal rates and reduce turnover risk for multifamily operators.
From a housing perspective, the neighborhood shows a high share of renter-occupied units (measured at the neighborhood level), placing it in the top decile nationally for renter concentration. That depth of the tenant base typically supports leasing velocity and occupancy stability, even as demand shifts across the market cycle. Neighborhood occupancy has edged up over the last five years, and while levels are not among the metro s tightest, they indicate steady utilization of existing stock.
Demographics aggregated within a 3-mile radius show recent population and household growth, with forecasts pointing to further increases in both households and incomes over the next five years. This trend implies a larger tenant base and supports continued demand for professionally managed apartments. The property s 2007 vintage is newer than the area s average construction year and offers competitive positioning versus older stock, while still allowing for targeted modernization to capture premiums.
Neighborhood safety indicators sit near the national midpoint overall, with conditions that are competitive among 245 Greensboro-High Point neighborhoods rather than top-tier. Property offenses remain above national norms, but recent data shows a pronounced year-over-year decline, and violent offense rates have trended modestly lower as well. For underwriting, this suggests monitoring sub-neighborhood variability while recognizing improving directionality.
Investors should frame safety as a comparative factor in the broader metro context and track trend lines alongside leasing performance and retention. Balanced screening and on-site measures can help sustain resident confidence as broader conditions continue to evolve.
The submarket draws from a diverse base of regional headquarters and corporate offices that help underpin renter demand and retention. Notable nearby employers include VF, Laboratory Corp. of America, Reynolds American, BB&T Corp., and Hanesbrands.
- VF apparel HQ offices (4.1 miles) a HQ
- Laboratory Corp. of America a clinical lab services (21.4 miles) a HQ
- Reynolds American a consumer products (24.0 miles) a HQ
- BB&T Corp. a financial services (24.1 miles) a HQ
- Hanesbrands a apparel (26.4 miles) a HQ
Built in 2007 with 60 units averaging larger floor plans, the asset competes favorably against older neighborhood stock while leaving room for targeted renovations to drive rent and retention. At the neighborhood level, a high share of renter-occupied housing and rent levels near the national midpoint point to depth of demand and manageable affordability pressure, supporting occupancy stability. Based on CRE market data from WDSuite, ownership costs in the area are elevated relative to incomes, which tends to reinforce reliance on multifamily housing and sustain the tenant pool.
Within a 3-mile radius, recent population and household growth awith forecasts indicating further gains as well as rising incomes, signal a larger tenant base over the medium term. Strong access to everyday amenities and proximity to regional headquarters further support leasing fundamentals. Key risks to underwrite include neighborhood occupancy that trails tighter submarkets and safety metrics that, while improving, remain closer to national mid-range levels.
- 2007 vintage provides competitive positioning versus older stock with value-add upgrade potential
- High neighborhood renter-occupied share supports leasing velocity and retention
- Ownership costs elevated relative to incomes bolster multifamily demand
- 3-mile demographic growth and rising incomes expand the tenant base
- Risks: neighborhood occupancy below tighter submarkets; safety near national midpoint despite recent improvement