| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 73rd | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3214 Brassfield Rd, Greensboro, NC, 27410, US |
| Region / Metro | Greensboro |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2020-11-01 |
| Transaction Price | $17,800,000 |
| Buyer | PARK FOREST EC LLC |
| Seller | HUDSON CAPITAL PARK FOREST LLC |
3214 Brassfield Rd Greensboro Multifamily Investment
Positioned in an inner-suburban A+ neighborhood, the asset benefits from steady renter demand and proximity to daily-needs retail, according to WDSuite s CRE market data for Greensboro. The thesis centers on occupancy stability with room for value-add upside given the submarket s competitive amenity access.
Greensboro s Brassfield area ranks 8th among 245 metro neighborhoods with an A+ neighborhood rating, signaling competitive fundamentals for multifamily. Grocery access is a clear strength (nationally strong density), and cafes and childcare options also score well versus U.S. neighborhoods, while parks and pharmacies are less prevalent immediately nearby. For investors, this mix suggests convenient daily living with some amenity gaps that may modestly influence resident satisfaction but not core leasing dynamics.
Neighborhood occupancy sits near 90% and has softened over the past five years, based on CRE market data from WDSuite. At the same time, rents in the neighborhood are mid-range for the metro, and the rent-to-income profile indicates manageable affordability pressure, which can support retention and measured pricing power.
Within a 3-mile radius, recent population drifted lower, but WDSuite s outlook points to growth ahead alongside a sizable projected increase in households and a smaller average household size. For multifamily, that combination expands the renter pool and supports absorption and lease-up consistency even if overall population growth is modest.
The property s 1986 vintage is older than the area s average construction year (early 2000s), creating clear value-add and capital planning levers. Targeted renovations and system updates can improve competitive positioning against newer stock while capturing demand from residents prioritizing location and daily-needs convenience over new-build premiums.
Home values in the neighborhood are elevated for the metro but not extreme nationally. This high-cost ownership context, paired with mid-range neighborhood rents, tends to reinforce reliance on multifamily housing and can bolster tenant retention. Renter-occupied share at the neighborhood level is in the mid-30% range, indicating a meaningful renter base that supports leasing continuity.
Safety signals are mixed in a way investors should contextualize. The neighborhood s crime rank sits closer to the higher-crime end within Greensboro (ranked 6th among 245 metro neighborhoods), yet it compares favorably at the national level (stronger than many neighborhoods nationwide). Recent WDSuite data shows notable year-over-year declines in both property and violent offenses, indicating improving momentum rather than a one-off fluctuation.
For underwriting and leasing strategy, this suggests caution when benchmarking against other Greensboro subareas, while recognizing that the broader national comparison and recent trend direction are supportive. Monitoring local enforcement and continued trend data remains prudent.
The area draws on a diverse employment base with convenient commutes to apparel, tobacco, banking, and healthcare corporate offices, which supports renter demand and lease retention. 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 products HQ (21.5 miles) HQ
- BB&T Corp. banking HQ (21.6 miles) HQ
- Hanesbrands apparel HQ (22.8 miles) HQ
- Laboratory Corp. of America healthcare diagnostics HQ (23.9 miles) HQ
3214 Brassfield Rd offers an inner-suburban location with daily-needs convenience, a sizable renter base, and improving safety momentum. According to CRE market data from WDSuite, neighborhood occupancy remains near 90% with mid-range rent levels, supporting steady leasing while leaving room for targeted renovations to capture additional pricing power.
The 1986 vintage is older than nearby stock, which presents a clear value-add path through unit and building upgrades to compete with early-2000s assets. Within a 3-mile radius, a projected increase in households and smaller household sizes indicates renter pool expansion that can support occupancy stability and absorption over the medium term. Key risks include recent local occupancy softening, limited nearby parks/pharmacies, and intra-metro safety dispersion, warranting conservative underwriting and active asset management.
- Inner-suburban A+ neighborhood with nationally competitive amenity access and daily-needs convenience
- Occupancy near 90% and mid-range rents support retention and measured pricing power
- 1986 vintage enables value-add through renovations to compete with newer local stock
- 3-mile outlook shows household growth and smaller household size, expanding the renter pool
- Risks: recent occupancy softening, limited parks/pharmacies nearby, and varying safety across metro areas