| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 51st | Good |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3628 Belmont St, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 2007 |
| Units | 26 |
| Transaction Date | 2016-09-27 |
| Transaction Price | $18,400,000 |
| Buyer | ABERNATHY PROPERTY HOLDINGS LLC |
| Seller | BRC ABERNARTHY LLC |
3628 Belmont St Greensboro Multifamily Investment Opportunity
Neighborhood renter concentration is high and occupancy has held in the low-90s, supporting stable cash flow potential, according to WDSuite’s CRE market data. Built in 2007, the asset’s newer vintage versus local stock can help competitiveness with modest modernization as needed.
Located in Greensboro’s inner suburbs, the property sits within a neighborhood rated B+ and ranked 75 out of 245 in the Greensboro-High Point metro—competitive among metro neighborhoods based on WDSuite’s metrics. Local construction skews older (average 1984), so a 2007-vintage asset should compare favorably to much of the nearby inventory for leasing and retention.
Renter-occupied housing is prevalent in this neighborhood (about 72% of units renter-occupied), indicating a deep tenant base for multifamily demand rather than owner turnover. Neighborhood occupancy of 93.5% has been steady over the past five years, pointing to durable renter demand and manageable lease-up risk.
Amenities are mixed: grocery access ranks 53rd of 245 (above many metro peers and above average nationally), and childcare density ranks 29th of 245 (top quartile nationally). However, cafes, restaurants, parks, and pharmacies are sparse in the immediate area, which could reduce walkable lifestyle appeal and place more emphasis on in-unit features and parking.
Within a 3-mile radius, recent years show a small population dip alongside growth in household counts, suggesting smaller household sizes and sustained rental needs. Forward-looking projections point to population growth and a notable increase in households through 2028, which would expand the renter pool and support occupancy stability if realized. Ownership is relatively accessible in this part of the metro, which can create some competition with rentals; strong unit finishes and management execution can help maintain pricing power and renewals.
Safety indicators are mixed across benchmarks. The neighborhood sits below the metro median for safety (ranked 67 out of 245 Greensboro-High Point neighborhoods, where lower ranks indicate higher crime), while overall conditions track around the national middle based on WDSuite’s nationwide percentiles. Recent trend data shows meaningful year-over-year declines in both property and violent offense rates, a constructive signal; investors should still underwrite with standard operating assumptions and monitor patterns over time.
Proximity to major corporate employers supports workforce housing demand and commute convenience, with access to apparel, diagnostics, banking, and tobacco headquarters that can underpin leasing and retention.
- VF — apparel (7.0 miles) — HQ
- Laboratory Corp. of America — diagnostics (22.2 miles) — HQ
- BB&T Corp. — banking (24.1 miles) — HQ
- Reynolds American — tobacco (24.1 miles) — HQ
- Hanesbrands — apparel (27.2 miles) — HQ
3628 Belmont St comprises 26 units built in 2007, a newer vintage relative to the area’s 1980s-era stock. That positioning, combined with a renter-heavy neighborhood and low-90s occupancy, supports leasing durability and retention potential. Within a 3-mile radius, household counts have risen and are projected to accelerate alongside population growth through 2028, signaling a larger tenant base that can sustain occupancy and rent roll over time.
According to CRE market data from WDSuite, this neighborhood is competitive within the Greensboro-High Point metro, with grocery and childcare access outperforming many peers even as cafes, restaurants, and parks remain limited. Investors should plan for targeted modernization to maintain an edge versus older comparables and manage affordability pressure (rent-to-income is elevated locally) with disciplined renewals and value-driven amenities.
- 2007 construction offers competitive positioning versus older neighborhood stock
- Renter concentration near 72% supports depth of tenant demand
- Neighborhood occupancy around the low-90s underpins leasing stability
- 3-mile population and household growth projections expand the renter pool
- Risks: limited walkable amenities, metro-relative safety below median, and ownership competition require careful asset management