| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 42nd | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2507 Fairfax Rd, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 1997 |
| Units | 24 |
| Transaction Date | 2006-10-04 |
| Transaction Price | $5,100,000 |
| Buyer | CAROLINA OAKS ACQUISITION LLC |
| Seller | 2505 FAIRFAX ROAD LLC |
2507 Fairfax Rd Greensboro Multifamily Investment
Neighborhood occupancy has been resilient and rising, supporting steady renter demand, according to WDSuite’s CRE market data. For investors, this points to durable leasing in an inner-suburban Greensboro location with access to daily-needs retail.
Located in an Inner Suburb of the Greensboro-High Point, NC metro, the area around 2507 Fairfax Rd balances everyday convenience with relatively stable renter demand. Neighborhood occupancy trends are competitive among Greensboro-High Point neighborhoods (above the metro median), and the five-year trajectory has improved, a constructive signal for cash flow stability.
Access to essentials is a local strength: grocery and restaurant density rank high compared with neighborhoods nationwide, while parks, pharmacies, cafes, and childcare options are limited. Average school ratings trend below national norms (about 2.0 out of five), which may affect some family-driven demand but typically has less impact on workforce-oriented leasing.
Housing tenure indicates a meaningful renter base. Within the neighborhood, an estimated 47.2% of housing units are renter-occupied, suggesting depth for multifamily leasing. Within a 3-mile radius, renters account for roughly 58% of occupied units, reinforcing the local tenant pool and supporting occupancy.
Home values are lower than many U.S. neighborhoods, which can introduce some competition from entry-level ownership. Even so, rent-to-income levels are moderate locally, which can support retention and limit turnover pressure when paired with consistent neighborhood occupancy.
The property’s 1997 vintage is newer than the neighborhood average construction year (1985). That positioning can be competitively favorable versus older stock, though investors should still plan for system updates and selective renovations to meet current renter expectations.
Safety indicators are mixed. Overall crime levels sit near the national middle (around the 47th percentile), while violent incident rates are weaker relative to national peers (around the 18th percentile). Notably, recent year-over-year trends show meaningful improvement, with both violent and property offenses declining at a faster pace than many neighborhoods nationwide. As with any infill location, investors should underwrite to submarket-appropriate security measures and property management practices.
Proximity to several headquarters and major corporate offices supports a stable renter base by shortening commutes for a range of white-collar and operations roles. The employers below reflect the concentration of apparel, finance, tobacco, and life sciences within drive-time reach.
- VF — apparel HQ (7.4 miles) — HQ
- BB&T Corp. — banking/finance (21.2 miles) — HQ
- Reynolds American — tobacco (21.2 miles) — HQ
- Hanesbrands — apparel (24.3 miles) — HQ
- Laboratory Corp. of America — life sciences (24.8 miles) — HQ
This 24-unit, 1997-vintage asset sits in an inner-suburban Greensboro location where neighborhood occupancy is above the metro median and has improved over the past five years. Based on CRE market data from WDSuite, the area maintains steady renter demand with grocery and restaurant access, while rent-to-income levels indicate manageable affordability pressure that can aid retention.
Demographic data aggregated within a 3-mile radius shows population growth over the last five years, an 11% increase in households, and a projected further rise in households over the next five years, all supportive of a larger tenant base and occupancy stability. The 1997 construction provides relative competitiveness versus older stock, with selective modernization likely to enhance leasing and support value-add strategies.
- Neighborhood occupancy above metro median with a positive five-year trend supports cash flow stability
- 1997 vintage offers competitive positioning versus older stock, with targeted updates for rent lift
- 3-mile radius shows household growth historically and in forecasts, expanding the renter pool
- Daily-needs retail access (strong groceries/restaurants) supports leasing and resident convenience
- Risks: below-average school ratings, limited parks/cafes/childcare/pharmacies, and entry-level ownership competition warrant conservative underwriting