| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 48th | Good |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18 Sails Way, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2006-02-08 |
| Transaction Price | $3,535,000 |
| Buyer | CINNAMON RIDGE APARTMENTS LLC |
| Seller | BROWN INVESTMENT PROPERTIES INC |
18 Sails Way Greensboro Multifamily Investment
Inner-suburb location with steady occupancy and a deep renter base supports durable cash flow potential, according to WDSuite’s CRE market data.
Located in Greensboro’s inner suburbs within the Greensboro-High Point, NC metro, the neighborhood carries a B+ rating and ranks 65 out of 245 metro neighborhoods, placing it above the metro median. Occupancy in the neighborhood is about 93% and ranks competitive among Greensboro-High Point neighborhoods (96 of 245) and above national midpoints, a constructive backdrop for lease stability.
Tenure data indicates meaningful renter demand: the neighborhood’s renter-occupied share ranks 79 of 245 (competitive locally) and sits in the 75th percentile nationally, while 3-mile radius demographics show roughly half of housing units are renter-occupied. Together these signals point to a sizable tenant pool that can support leasing and renewal velocity.
At 1984 vintage, the property is slightly older than the neighborhood’s average construction year (1987). Investors should underwrite routine capital and potential value-add upgrades to maintain competitive positioning against newer stock, particularly for systems, interiors, and curb appeal. Median contract rents in the neighborhood sit near the metro middle with firm five-year growth, and the rent-to-income profile is moderate, supporting retention and measured pricing power.
Local convenience is adequate with grocery and pharmacy access around metro norms and cafes in the top quartile locally and above average nationally. Park and childcare density are limited in the immediate neighborhood, which may modestly temper family-oriented appeal; however, broader metro connectivity helps offset daily needs. NOI per unit trends are competitive within the metro, though not a national outlier, suggesting stable but not peak yield characteristics.
Within a 3-mile radius, population and household counts have grown in recent years, and WDSuite’s projections indicate additional household expansion ahead. This implies a larger tenant base over time and supports occupancy stability for well-managed assets.
Safety indicators are mixed and should be evaluated in context. The neighborhood’s overall crime rank sits near the metro middle (83 of 245), while national percentiles indicate lower comparative safety levels today. However, recent trend data shows year-over-year improvement: estimated violent and property offense rates have moved down materially, placing their one-year improvements in higher national percentiles. For investors, the trend direction is constructive, but underwriting should consider ongoing security, lighting, and tenant-experience measures consistent with the submarket.
Proximity to several headquarters-scale employers underpins renter demand through commute convenience and a diverse employment base, including apparel, healthcare diagnostics, and financial services.
- VF — apparel HQ (7.8 miles) — HQ
- Laboratory Corp. of America — healthcare diagnostics (21.1 miles) — HQ
- BB&T Corp. — financial services (25.7 miles) — HQ
- Reynolds American — consumer goods (25.7 miles) — HQ
- Hanesbrands — apparel (28.9 miles) — HQ
The asset’s inner-suburb setting combines competitive neighborhood occupancy with a sizeable renter base, positioning a 20-unit property for consistent leasing. Based on CRE market data from WDSuite, neighborhood metrics sit above the metro median with occupancy competitive among Greensboro-High Point submarkets and a renter-occupied profile supportive of demand depth. The 1984 vintage suggests scope for pragmatic value-add—mechanicals, interiors, and exterior enhancements—to defend rents and lower downtime versus newer comparables.
Within a 3-mile radius, households and incomes have risen historically with projections calling for additional household growth, which reinforces tenant pool expansion and supports retention. Ownership costs in the broader area are relatively accessible by national standards, which can modestly temper pricing power; however, moderate rent-to-income levels and improving safety trends support balanced risk-adjusted performance for well-managed assets.
- Competitive neighborhood occupancy and renter depth support stable leasing
- 1984 vintage offers value-add opportunity to enhance rents and retention
- 3-mile radius household growth signals a larger tenant base over time
- Proximity to headquarters employers underpins demand and lease-up velocity
- Risks: relatively accessible ownership options and mixed safety metrics may temper pricing power; budget for ongoing security and CapEx