| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 21st | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2121 Redwood Dr, Greensboro, NC, 27405, US |
| Region / Metro | Greensboro |
| Year of Construction | 1997 |
| Units | 40 |
| Transaction Date | 1996-11-06 |
| Transaction Price | $116,000 |
| Buyer | REDWOOD STREET LIMITED PARTNERSHIP |
| Seller | --- |
2121 Redwood Dr Greensboro 40-Unit Multifamily
Mid-1990s construction and a renter-heavy neighborhood point to durable leasing fundamentals, according to WDSuite’s CRE market data. Nearby household growth projections support a steady tenant base without relying on premium rents.
This Inner Suburb location in Greensboro balances workforce housing demand with straightforward access to larger employment nodes by car. Immediate retail, parks, and cafes are limited in the micro-area, so residents tend to use nearby commercial corridors for daily needs, which can still support stable occupancy when priced to the local market.
The property’s 1997 vintage is newer than the neighborhood’s average 1970s housing stock. That positioning typically reduces near-term capital surprises versus older assets while still leaving room for selective renovations to enhance competitiveness and drive rent trade‑outs.
Neighborhood occupancy is near the national middle and has trended upward over the last five years, indicating reasonably consistent demand. Renter concentration is elevated at the neighborhood level, which deepens the tenant pool and can support leasing stability for multifamily operators.
Within a 3‑mile radius, demographics show modest recent population and household gains with a forecast for additional household growth and slightly smaller average household sizes by 2028. This points to gradual renter pool expansion that can support occupancy and retention, based on CRE market data from WDSuite.
Schools post above‑median results nationally and are top quartile among 245 Greensboro‑High Point neighborhoods, providing a family‑oriented demand signal that can aid lease retention. Home values in the surrounding neighborhood are comparatively low in national context, which may create some competition from entry‑level ownership; however, multifamily still serves as a more accessible option for many households, supporting steady renter demand.
Safety indicators for the neighborhood sit below national medians, and the area is not among the metro’s highest‑rated for safety. That said, recent data show year‑over‑year declines in both violent and property offenses, suggesting some improvement in trend, according to WDSuite’s market tracking.
For underwriting, investors typically account for enhanced onsite management and lighting, and may weigh the trade‑off between workforce demand depth and perception risk relative to other Greensboro‑High Point locations.
Proximity to major corporate employers underpins workforce housing demand and commuting convenience, notably VF, Laboratory Corp. of America, Reynolds American, BB&T Corp., and Hanesbrands.
- VF — apparel HQ (3.3 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (17.7 miles) — HQ
- Reynolds American — consumer goods HQ (27.4 miles) — HQ
- BB&T Corp. — financial services HQ (27.5 miles) — HQ
- Hanesbrands — apparel HQ (29.3 miles) — HQ
2121 Redwood Dr offers a 40‑unit, 1997‑built asset positioned against older neighborhood stock, providing relative competitiveness and manageable capital planning alongside potential value‑add through targeted interior and systems updates. Neighborhood renter concentration and occupancy near the metro midpoint support leasing durability, while 3‑mile household growth and a shift toward smaller households point to a gradually expanding tenant base.
According to CRE market data from WDSuite, the submarket’s rent levels and occupancy trends align with steady workforce demand rather than premium pricing, which can aid retention. Key underwriting considerations include amenity‑light surroundings and below‑median safety scores; disciplined operations, security, and marketing toward nearby employment centers can mitigate these factors.
- 1997 vintage outpositions older local stock with room for selective renovations
- Elevated renter concentration and occupancy near metro midpoint support stable leasing
- 3‑mile area projects household growth and smaller household sizes, widening the renter pool
- Access to major employers across Greensboro‑High Point underpins workforce demand
- Risks: amenity‑light micro‑location and below‑median safety require proactive management