| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 75th | Best |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3301 Horse Pen Creek Rd, Greensboro, NC, 27410, US |
| Region / Metro | Greensboro |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2007-09-26 |
| Transaction Price | $1,000,000 |
| Buyer | PLANTATION AT HORSE PEN LLC |
| Seller | BERKLEY HALL DEVELOPMENT LLC |
3301 Horse Pen Creek Rd Greensboro Multifamily Opportunity
Suburban Greensboro location with an A-rated neighborhood and above-median occupancy supports stable renter demand, according to WDSuite s commercial real estate analysis.
The property sits in an A-rated, Suburban neighborhood that ranks 23 out of 245 within the Greensboro-High Point metro top quartile locally. Neighborhood occupancy is 92.5% and sits above the metro median, per WDSuite s CRE market data, signaling steady leasing conditions at the neighborhood level rather than the property specifically.
Built in 2008, the asset is newer than the neighborhood s average 1993 construction year, which can enhance competitive positioning versus older stock while still warranting routine capital planning for aging systems over the hold.
Schools are a relative strength: the neighborhood s average school rating is 4.5/5, placing it in the top decile nationally (94th percentile). This tends to support family-oriented demand and longer tenancy in larger floor plans.
Household incomes in the neighborhood rank in the upper tier locally and nationally (77th percentile), while the rent-to-income ratio of 0.16 indicates manageable affordability pressure a dynamic that can support retention and pricing discipline. Home values are elevated for the metro, which often sustains reliance on multifamily housing rather than ownership, aiding renter demand depth.
Amenities reflect a suburban pattern: childcare and pharmacy access are competitive for the metro, while cafes, parks, and restaurants are less dense nearby. Investors should underwrite convenience by car rather than walkable retail. Demographic statistics aggregated within a 3-mile radius show essentially flat population in recent years with a forecast decrease alongside a projected increase in household count by 2028, implying smaller household sizes and a potentially larger pool of households seeking rental options.
Safety trends are improving on a year-over-year basis: estimated violent and property offense rates have declined meaningfully, placing those improvements in the upper national percentiles (violent offense improvement ~77th percentile; property offense improvement ~91st percentile). Overall, the neighborhood s safety profile is above the national median (around the 60th percentile) according to WDSuite s CRE market data.
Interpretation is best kept comparative: the area is competitive among Greensboro-High Point neighborhoods rather than an outlier. Investors should still apply standard security and lighting measures typical for suburban assets and confirm trends with the most recent local data when underwriting.
Nearby corporate headquarters provide a diversified white-collar employment base that supports renter demand and commute convenience, notably VF, Reynolds American, BB&T Corp., Hanesbrands, and Laboratory Corp. of America.
- VF apparel HQ (4.5 miles) HQ
- Reynolds American tobacco products HQ (21.0 miles) HQ
- BB&T Corp. financial services HQ (21.1 miles) HQ
- Hanesbrands apparel HQ (22.0 miles) HQ
- Laboratory Corp. of America diagnostics HQ (24.7 miles) HQ
This 24-unit, 2008-vintage asset benefits from top-quartile neighborhood fundamentals in suburban Greensboro and occupancy that sits above the metro median. Newer construction relative to local stock supports competitiveness, while neighborhood rent-to-income metrics suggest manageable affordability pressure that can aid retention. According to CRE market data from WDSuite, strong school quality and solid household incomes further reinforce demand for larger floor plans.
Demographic statistics within a 3-mile radius indicate flat-to-declining population but an expected increase in household counts, pointing to smaller household sizes and a stable-to-expanding tenant base for multifamily. Underwriting should account for suburban amenity dispersion and standard capital needs as the asset seasons.
- Top-quartile neighborhood among 245 metro areas with above-median occupancy supporting leasing stability
- 2008 construction offers relative competitive edge versus older local stock with routine capex planning
- Strong schools and upper-tier incomes underpin renter demand and lease retention
- 3-mile stats show rising household counts despite softer population growth, supporting the renter pool
- Risks: suburban amenity dispersion and monitoring forward population trends; mitigate with unit finishes, security, and targeted marketing