| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 51st | Good |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3300 Gar Pl, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 2013 |
| Units | 33 |
| Transaction Date | 2015-05-07 |
| Transaction Price | $1,878,500 |
| Buyer | JULIET PLACE ROYAL LLC |
| Seller | SOUTHWOOD JULIET PLACE II LLC |
3300 Gar Pl Greensboro Multifamily Investment
Stabilized renter demand in an inner-suburban pocket of Greensboro supports mid-90s neighborhood occupancy, according to WDSuite’s CRE market data. This 33-unit asset offers scale with larger-than-typical floor plans, aligning with workforce housing needs backed by consistent leasing.
Located in an inner-suburb of Greensboro, the property benefits from a renter-driven housing base and steady neighborhood occupancy. The neighborhood’s occupancy rate of 93.5% has edged higher over the past five years, signaling durable leasing conditions rather than late-cycle froth, based on commercial real estate analysis from WDSuite.
Renter concentration is high: about 71.6% of housing units in the neighborhood are renter-occupied, indicating a deep tenant pool for multifamily and supportive demand for mid-size assets. Within a 3-mile radius, household counts have grown even as average household size declined, which typically broadens the renter base and can support occupancy stability.
Local amenities skew toward essentials: grocery access ranks above many Greensboro-High Point peers (competitive among 245 metro neighborhoods), while parks, restaurants, and cafes are sparse nearby. This positions the area as pragmatic workforce housing rather than lifestyle-driven, with pricing power more likely to reflect necessity renting and commute convenience than retail adjacency.
Home values in the neighborhood sit below national medians, which can introduce some competition from ownership options. That said, rent-to-income metrics point to some affordability pressure for renters, suggesting asset management should prioritize retention, renewal strategies, and value-for-price improvements over aggressive rent steps to sustain lease stability.
Demographics within 3 miles show households up in recent years and are forecast to rise further alongside income gains, pointing to renter pool expansion into the medium term. Population is projected to grow by the next five years while household counts increase more quickly, reinforcing depth of demand for well-managed, mid-market rentals.
Neighborhood safety trends are mixed but improving. The area is competitive among Greensboro-High Point neighborhoods (rank 67 out of 245), and sits around the national middle overall. Violent and property offense rates track below national safety percentiles, yet recent year-over-year declines are notable, indicating momentum in the right direction rather than a definitive safety profile.
For investors, this suggests day-to-day conditions comparable to many inner-suburban markets, with monitoring warranted. The recent drop in both property and violent offense estimates points to improving local dynamics; however, underwriting should remain conservative on security line items and community engagement to support resident retention.
- VF — apparel (7.1 miles) — HQ
- Laboratory Corp. of America — diagnostics (22.4 miles) — HQ
- Reynolds American — consumer products (23.9 miles) — HQ
- BB&T Corp. — banking (23.9 miles) — HQ
- Hanesbrands — apparel (27.0 miles) — HQ
Nearby corporate anchors provide a steady employment base and practical commute sheds that can support renter demand and lease retention for workforce-oriented apartments.
Built in 2013, this 33-unit property is newer than much of the surrounding stock, providing a competitive position versus older assets while offering the potential to capture demand from a renter-leaning neighborhood. Average unit sizes around 1,090 square feet support family and roommate configurations, which can aid retention. According to CRE market data from WDSuite, the neighborhood posts mid-90s occupancy and a high share of renter-occupied housing units, underscoring a durable tenant base for mid-market multifamily.
Within a 3-mile radius, recent growth in households and a forecasted increase in both households and incomes point to a larger tenant base ahead. At the same time, below-median local home values may create some competition from ownership, and rent-to-income levels signal affordability pressure that argues for disciplined renewal strategies and amenity value rather than outsized rent steps. As a newer-vintage asset, ongoing capital needs may center on targeted refreshes and systems maintenance rather than wholesale renovations, supporting predictable capital planning.
- Newer 2013 vintage versus older neighborhood stock supports competitive positioning
- High renter-occupied share and mid-90s neighborhood occupancy support demand stability
- Larger average floor plans (~1,090 SF) aid retention and leasing flexibility
- Household and income growth within 3 miles indicate a widening renter pool over the medium term
- Risks: affordability pressure and accessible ownership options may temper pricing power; monitor operating expenses and renewal strategy