| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3237 Pleasant Garden Rd, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 2010 |
| Units | 24 |
| Transaction Date | 2006-09-21 |
| Transaction Price | $502,500 |
| Buyer | PLEASANT GARDEN APARTMENTS LLC |
| Seller | WELLS MARY M |
3237 Pleasant Garden Rd Greensboro 24-Unit Multifamily
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a stable tenant base, according to WDSuite’s CRE market data. Neighborhood occupancy is improving year over year, suggesting potential for steady operations rather than outsized volatility.
Located in Greensboro’s inner-suburban fabric, the property benefits from a neighborhood rated A and ranked 32 out of 245 metro neighborhoods, indicating competitive positioning within the Greensboro-High Point market. The area’s renter-occupied share is high relative to peers, which deepens the pool for multifamily leasing and supports demand durability at the submarket level.
Built in 2010, the asset is newer than the neighborhood’s average vintage of 1980. For investors, this typically translates to stronger competitive positioning versus older stock and a nearer-term capital plan focused more on selective modernization and systems upkeep than on heavy deferred-maintenance remediation.
Amenity access is balanced: restaurants, grocery, and pharmacy density compare favorably to many areas in the metro, while formal park space is limited. Average school ratings in the neighborhood track below national norms, which can modestly influence family renter preferences and should be reflected in leasing strategy and unit mix positioning as part of disciplined commercial real estate analysis.
Neighborhood occupancy runs below the national median but has trended higher over the last five years, supporting a case for improving stability. Home values are lower than national medians, which can introduce some competition from ownership options; however, rent-to-income levels indicate manageable affordability pressure for renters, aiding retention and reducing turnover risk when managed thoughtfully.
Within a 3-mile radius, demographics point to a larger tenant base ahead: households have grown in recent years and are projected to increase further, with population growth and smaller average household sizes indicating more renters entering the market. These dynamics, based on data from WDSuite, support sustained demand for well-maintained, mid-scale multifamily assets.
Safety indicators are mixed in context. Overall crime sits around the national median (near the 51st percentile), but violent-crime measures are below national medians (around the 9th percentile), signaling elevated exposure compared with many U.S. neighborhoods. At the metro level, the neighborhood ranks 79th out of 245 Greensboro-High Point neighborhoods, indicating higher-than-metro-average crime exposure.
Recent trend data provides an important counterbalance: both violent and property offense rates have declined materially year over year, and those improvement rates place the area among stronger improvers metro-wide and nationally. Investors should incorporate prudent security measures and underwriting assumptions, while recognizing that multi-year declines, if sustained, can support leasing stability and tenant retention.
Proximity to a diverse corporate base underpins local renter demand, with access to apparel, healthcare diagnostics, and consumer goods headquarters that broaden employment options and support commute convenience.
- VF — apparel (7.0 miles) — HQ
- Laboratory Corp. of America — healthcare diagnostics (19.2 miles) — HQ
- Reynolds American — consumer products (27.0 miles) — HQ
- BB&T Corp. — financial services (27.1 miles) — HQ
- Hanesbrands — apparel (29.9 miles) — HQ
This 24-unit, 2010-vintage asset offers durable renter demand in an inner-suburban Greensboro neighborhood that ranks competitively within the metro. The area’s high share of renter-occupied housing supports a deeper tenant pool, while neighborhood occupancy has been improving, indicating a trend toward steadier operations. The property’s newer vintage relative to local stock positions it well against older comparables, with capital plans likely centered on targeted updates rather than heavy repositioning.
Within a 3-mile radius, the outlook points to renter pool expansion as population and households increase and average household size moderates, a combination that typically supports occupancy and lease-up efficiency. According to CRE market data from WDSuite, home values remain comparatively low in the area, which can create some competition from ownership, but rent levels appear manageable relative to incomes, aiding retention. Key risks include below-median school ratings, limited park access, and safety exposure that, while improving, still warrants conservative underwriting.
- Newer 2010 construction versus older neighborhood stock supports competitive positioning with a lighter near-term capex profile.
- High renter-occupied concentration and improving neighborhood occupancy backfill demand and promote leasing stability.
- 3-mile demographic trends point to a larger tenant base ahead, reinforcing absorption and retention potential.
- Risks: below-median school ratings, limited parks, and safety exposure; underwrite conservatively and plan for targeted property-level security and amenities.