| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3212 Pleasant Garden Rd, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2021-09-09 |
| Transaction Price | $330,000 |
| Buyer | CONN AMY A |
| Seller | PRECEPT CONSTRUCTION LLC |
3212 Pleasant Garden Rd 24-Unit Greensboro Multifamily
Built in 2008, this 24-unit asset is newer than much of the surrounding stock and sits in an inner-suburb location where neighborhood occupancy has trended up, according to WDSuite’s CRE market data. The area’s renter concentration near half of housing units suggests durable tenant depth, supporting stable operations.
The property’s 2008 vintage is newer than the neighborhood’s average construction year of 1980, which can help competitive positioning versus older assets while still leaving room for targeted modernization plans. Neighborhood occupancy has improved over the past five years, and the share of housing units that are renter-occupied is elevated, indicating a deeper tenant base that can support leasing stability for multifamily investors.
Amenity access is a relative strength: the neighborhood scores above the national median for restaurants, cafes, childcare, groceries, and pharmacies, though park access is limited. Average school ratings trend low versus national peers, which may influence tenant mix and marketing strategy but does not preclude stable workforce demand.
Within a 3-mile radius, demographics show essentially flat population in the recent period with a simultaneous increase in households and smaller average household size—conditions that typically expand the renter pool and support occupancy stability. Looking forward, projections for 2028 point to population growth and a notable increase in households, implying a larger tenant base and potential support for lease-up and retention.
Home values in the neighborhood are lower relative to national benchmarks, and rents sit near national mid-range levels. This mix suggests more accessible ownership options could compete at the margin, but a moderate rent-to-income profile can also aid lease retention and reduce turnover risk. Overall, the neighborhood is rated A and ranks 32 among 245 Greensboro–High Point neighborhoods—competitive within the metro—providing a balanced backdrop for multifamily operations.
Safety indicators present a mixed but improving picture. The neighborhood’s crime rank is 79 out of 245 Greensboro–High Point neighborhoods, which signals more reported crime than many areas in the metro, even as national positioning sits around the middle of the pack. Importantly, recent year-over-year data shows meaningful declines in both violent and property offenses, indicating improving conditions that investors should monitor as part of ongoing operations planning.
In practice, prudent measures—such as lighting, access controls, and resident engagement—remain relevant for asset management. Given the directional improvement, underwriting should reflect current trend lines while still accounting for on-the-ground management needs typical of inner-suburban locations.
Proximity to major corporate employers supports a steady workforce renter base and commute convenience. Nearby anchors include apparel, tobacco, banking, and life sciences headquarters that help sustain regional job demand.
- VF — apparel HQ (6.9 miles) — HQ
- Laboratory Corp. of America — life sciences (19.3 miles) — HQ
- Reynolds American — tobacco (27.0 miles) — HQ
- BB&T Corp. — banking (27.0 miles) — HQ
- Hanesbrands — apparel (29.8 miles) — HQ
This 24-unit, 2008-vintage property offers a relative quality advantage versus older neighborhood stock, with neighborhood occupancy trending higher and a renter-occupied share near half that supports steady tenant demand. According to CRE market data from WDSuite, local amenities outperform national medians in several categories, reinforcing day-to-day livability, while ownership costs remain comparatively accessible—an operating context that favors retention but may limit outsized pricing power.
Within a 3-mile radius, households have increased even as average household size edged lower, expanding the pool of renters. Projections through 2028 call for population growth and a sizable increase in households, which can underpin leasing velocity and support occupancy stability. Key underwriting considerations include currently modest school ratings, improving but still-elevated safety considerations relative to parts of the metro, and potential competition from lower-cost ownership options.
- 2008 vintage provides competitive positioning versus older neighborhood stock with room for targeted upgrades
- Renter-occupied share near half indicates depth of tenant base and supports occupancy stability
- Amenities outperform national medians, aiding day-to-day livability and leasing appeal
- 3-mile projections point to population and household growth, expanding the renter pool
- Risks: improving but elevated safety relative to parts of the metro, low school ratings, and competition from accessible ownership options