| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 73rd | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1921 New Garden Rd, Greensboro, NC, 27410, US |
| Region / Metro | Greensboro |
| Year of Construction | 1996 |
| Units | 20 |
| Transaction Date | 2020-05-01 |
| Transaction Price | $49,000,000 |
| Buyer | WE BRASSFIELD PARK OWNER LLC |
| Seller | CCC BRASSFIELD PARK LLC |
1921 New Garden Rd Greensboro Value-Add Multifamily
Inner-suburb location with strong daily-needs access and a broad renter base suggests durable leasing fundamentals, according to WDSuite’s CRE market data.
Situated in Greensboro’s inner suburbs, the area around 1921 New Garden Rd scores well for daily conveniences that support renter retention. Grocery options are dense (competitive among 245 Greensboro–High Point neighborhoods and top quartile nationally), with solid cafe and childcare availability also landing in the national top quartile. Dining variety is similarly strong. Park and pharmacy access are limited locally, which may temper some lifestyle appeal and suggests positioning amenities on-site can matter for resident satisfaction.
The neighborhood’s rental market shows mixed signals. Neighborhood occupancy is below the metro median (ranked 158 out of 245), and five-year occupancy compression indicates some softening; however, the share of housing units that are renter-occupied is competitive among Greensboro–High Point neighborhoods and sits in the top quartile nationally, pointing to a meaningful tenant base and ongoing demand for multifamily product.
Demographic metrics aggregated within a 3-mile radius show recent population and household declines, followed by a projected rebound in population and a notable increase in households over the next five years. A smaller average household size is expected, which generally expands the renter pool and supports occupancy stability for well-managed assets.
Ownership costs are elevated enough to sustain reliance on rentals, yet not so high as to eliminate competition from for-sale alternatives. For investors, this balance suggests steady demand with selective pricing power, while lease management should monitor affordability to preserve retention as rents continue to trend upward.
The average construction year in the neighborhood skews newer (2004), which means a 1996-vintage property can compete with value-add upgrades that narrow the gap to newer stock while planning for aging systems and targeted capital expenditures.
Safety indicators present a nuanced picture. Within the Greensboro–High Point metro, the neighborhood’s crime rank places it closer to the less favorable end of the spectrum (rank 6 out of 245 indicates higher crime relative to many local peers). At the same time, national comparisons are more favorable, with safety metrics placing the area above the national median. Recent year-over-year declines in both property and violent offenses, based on CRE market data from WDSuite, point to improving conditions that investors can track as part of ongoing risk management.
Proximity to established corporate employers underpins renter demand through stable white-collar employment and manageable commutes. Key nearby anchors include VF, Reynolds American, BB&T Corp., Hanesbrands, and Laboratory Corp. of America.
- VF — apparel HQ (3.6 miles) — HQ
- Reynolds American — tobacco HQ (21.4 miles) — HQ
- BB&T Corp. — banking HQ (21.5 miles) — HQ
- Hanesbrands — apparel HQ (22.9 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (23.9 miles) — HQ
This 1996-vintage, 20-unit asset offers clear value-add potential in an inner-suburb location with strong daily-needs access. Amenity density (groceries, cafes, childcare) is competitive locally and top quartile nationally, supporting leasing resilience. While neighborhood occupancy trends sit below the metro median, the renter-occupied housing share is comparatively high, indicating a sizeable tenant base. Based on commercial real estate analysis from WDSuite, recent safety trends are improving and rents have been rising, with household growth projected within a 3-mile radius—factors that can support stabilization for a thoughtfully upgraded property.
Investor focus should center on targeted renovations and systems updates to close the competitiveness gap with newer neighborhood stock, disciplined lease management to maintain affordability, and monitoring of local safety and occupancy trends. The combination of proximity to anchor employers and solid amenity access provides a backdrop for steady long-term demand if execution is tight.
- Inner-suburb location with strong grocery, cafe, and childcare access supports retention
- 1996 vintage presents value-add and capital planning opportunities to compete with newer stock
- Renter-occupied housing share is competitive locally and top quartile nationally, indicating demand depth
- Risks: neighborhood occupancy below metro median and limited park/pharmacy access require sharp operations and amenity strategy