| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 42nd | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2501 Fairfax Rd, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 2006-10-04 |
| Transaction Price | $5,100,000 |
| Buyer | CAROLINA OAKS INVESTORS LLC |
| Seller | CAROLINA OAKS APARTMENTS LLC |
2501 Fairfax Rd Greensboro 24-Unit Multifamily Investment
Neighborhood occupancy is comparatively firm and renter demand is supported by a sizable tenant base, according to WDSuite’s CRE market data. Built in 1998, the asset’s vintage offers competitive positioning versus older local stock while leaving room for targeted upgrades.
Located in an Inner Suburb of Greensboro, the property benefits from everyday convenience drivers. Grocery options are strong for the area (competitive among Greensboro-High Point neighborhoods and top quartile nationally), while restaurants are also dense relative to peers. Parks, pharmacies, cafes, and childcare options are thinner locally, which can modestly limit lifestyle appeal but does not typically undermine workforce leasing.
Neighborhood occupancy trends are above the national median and competitive within the metro, supporting stability for similar assets. Median contract rents in the immediate neighborhood sit below many national peers, while rent-to-income levels indicate manageable affordability—factors that can aid retention and steady leasing rather than rapid price discovery.
The building’s 1998 construction is newer than the neighborhood’s average vintage of 1985. This positioning can help on curb appeal and unit functionality against older comparables, though investors should still plan for modernization of systems and interiors as part of a value-add roadmap.
Demographic indicators aggregated within a 3-mile radius point to population and household growth over the last five years, with further household increases forecast. A majority of housing units in this 3-mile area are renter-occupied, expanding the prospective tenant base and supporting occupancy stability for mid-scale communities like this one. Home values in the neighborhood are relatively accessible versus many U.S. markets, which can introduce some competition from ownership; however, that dynamic often coexists with durable renter segments looking for flexible housing options.
Safety outcomes in the neighborhood track around the national middle based on WDSuite’s CRE market data, with recent year-over-year declines in both violent and property incidents indicating an improving trend. Relative improvement sits above the national median, which, if sustained, can support renter confidence and leasing stability.
As always, investors should compare multi-year trends at the neighborhood level against broader Greensboro-High Point patterns and consider standard property-level measures to enhance resident comfort.
Proximity to regional headquarters and major corporate offices supports a diversified employment base and commute convenience for renters. Notable employers within a commutable radius include VF, Reynolds American, BB&T Corp., Hanesbrands, and Laboratory Corp. of America.
- VF — apparel HQ (7.3 miles) — HQ
- Reynolds American — consumer goods HQ (21.2 miles) — HQ
- BB&T Corp. — financial services HQ (21.2 miles) — HQ
- Hanesbrands — apparel HQ (24.3 miles) — HQ
- Laboratory Corp. of America — healthcare & diagnostics HQ (24.8 miles) — HQ
This 24-unit asset offers a balanced workforce housing thesis: neighborhood occupancy trends are competitive in the metro, renter-occupied housing is prevalent within a 3-mile radius, and local rents remain manageable relative to incomes—conditions that support tenant retention and steady leasing. According to CRE market data from WDSuite, amenities skew toward strong daily-needs access (notably groceries and dining) even as certain lifestyle features are thinner, a mix that typically aligns with stable, needs-based demand.
Built in 1998, the property stands newer than the surrounding neighborhood average, suggesting solid competitive positioning against older stock and the potential for targeted value-add upgrades to kitchens, baths, and building systems. Home values in the neighborhood are relatively accessible, which may temper pricing power at the margins, but projected household growth and a large renter pool within 3 miles point to durable tenant demand and occupancy resilience over a multi-year hold.
- Competitive neighborhood occupancy and a large nearby renter base support stability
- 1998 vintage offers positioning versus older comparables with value-add upside
- Strong access to groceries and dining underpins everyday convenience and leasing
- Risks: relatively accessible ownership options and thinner lifestyle amenities could moderate rent growth