| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3512 S Elm Eugene St, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 2008 |
| Units | 24 |
| Transaction Date | 2021-08-12 |
| Transaction Price | $9,600,000 |
| Buyer | LEGACY ELM LLC |
| Seller | NATIONSPROPERTIES LLC |
3512 S Elm Eugene St Greensboro 24-Unit Multifamily
Newer 2008 vintage relative to local stock positions this asset competitively for renter demand, according to WDSuite’s CRE market data. Neighborhood metrics cited below reflect the surrounding area, not the property, and indicate solid renter concentration that can support occupancy stability.
Situated in Greensboro’s inner suburb context, the property benefits from a renter-occupied housing share near 52% in the surrounding neighborhood (renter concentration measured for the neighborhood, not the property). That depth of rental households supports a consistent tenant base. Neighborhood occupancy has trended upward over the past five years, suggesting improving leasing conditions even if performance remains around regional mid-range levels.
The 2008 construction is newer than the neighborhood’s average 1980 vintage, offering relative competitiveness versus older stock. Investors should still underwrite routine modernization over the hold to sustain positioning against newer deliveries.
Livability drivers are balanced: restaurants, pharmacies, and groceries score above national midpoints for density, while parks are limited locally. Average school ratings in the neighborhood are low versus national norms; this tends to tilt the submarket more toward workforce renters than school-driven households. Median contract rents at the neighborhood level sit around the lower end of the metro spectrum with meaningful five-year growth, reinforcing that pricing remains accessible for a broad renter pool and can aid retention.
Within a 3-mile radius, population and households have grown in recent years, with forecasts pointing to continued expansion in both counts. A larger nearby renter pool and projected increases in household income support sustained demand for rental units and potential rent growth management, based on CRE market data from WDSuite.
Neighborhood safety indicators are mixed compared with national benchmarks. Overall crime performance is around the national midpoint, but violent offense measures track below national averages while property offenses also sit on the weaker side. Notably, year-over-year trends show improvement, with both violent and property offense rates declining at a pace that compares favorably to many neighborhoods nationwide.
At the metro level (Greensboro-High Point, 245 neighborhoods total), the area is competitive but not top-tier for safety. For underwriting, this typically argues for attentive tenant screening and on-site management practices, while recognizing that recent downward trends in reported offenses reduce some operational risk over time.
Proximity to major corporate employers supports a broad workforce renter base and commute convenience for residents. Key anchors within the wider Triad include VF, Laboratory Corp. of America, Reynolds American, BB&T Corp., and Hanesbrands.
- VF — apparel HQ (7.5 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (20.8 miles) — HQ
- Reynolds American — consumer products HQ (25.8 miles) — HQ
- BB&T Corp. — financial services HQ (25.9 miles) — HQ
- Hanesbrands — apparel HQ (28.9 miles) — HQ
This 24-unit, 2008-vintage community offers a favorable blend of durable renter demand and relative competitiveness versus older neighborhood stock. The surrounding neighborhood’s renter-occupied share sits above national norms, and occupancy has improved over the last five years, indicating steady leasing conditions. According to CRE market data from WDSuite, local rents remain accessible relative to incomes, which can support retention while allowing disciplined revenue management.
Forward demand signals are constructive: within a 3-mile radius, population and household counts have risen and are projected to continue expanding, enlarging the tenant base. Counterbalances include lower neighborhood school ratings and safety metrics that are closer to national midline, which place a premium on active management, resident services, and targeted capital improvements.
- 2008 vintage outcompetes older local stock; plan selective upgrades to sustain positioning
- Rising neighborhood occupancy and strong renter concentration support leasing stability
- 3-mile population and household growth expands the renter pool for long-term demand
- Accessible rent levels relative to incomes aid retention and measured pricing power
- Risks: lower school ratings and mixed safety metrics require attentive operations and underwriting