| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 38th | Fair |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3636 McConnell Rd, Greensboro, NC, 27405, US |
| Region / Metro | Greensboro |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2008-07-07 |
| Transaction Price | $1,467,000 |
| Buyer | INNISBROOK VILLAGE LLC |
| Seller | CAUSEY WILLIAM MITCHELL |
3636 McConnell Rd Greensboro Multifamily Investment Opportunity
Neighborhood occupancy trends are strong, with the area testing above many metro peers and tracking in the higher national percentiles, according to CRE market data from WDSuite. For investors, that points to stable renter demand around this asset in Greensboro, North Carolina.
Built in 2011, the property is newer than the neighborhood s average vintage (1994). Newer construction can offer competitive positioning versus older stock, while investors should still plan for routine system upgrades as the asset seasons.
Local livability leans suburban. Grocery and pharmacy access are serviceable relative to the metro (grocery supply sits near the metro median at rank 119 of 245; pharmacy access is competitive at rank 46 of 245). Restaurant density is competitive among Greensboro neighborhoods (rank 88 of 245), while cafes and parks are limited in the immediate area, which may modestly affect walkable amenity appeal.
For schools, the neighborhood s average rating trails national norms (37th percentile nationwide) but is competitive within the metro (rank 38 of 245). Investors should calibrate leasing strategy accordingly if targeting family renters who prioritize school quality.
Renter-occupied share in the neighborhood sits around half of housing units (50.2%), indicating a meaningful tenant base for multifamily leasing. Neighborhood occupancy is elevated (rank 40 of 245; roughly top quartile nationally), supporting expectations for steady lease-up and retention.
Demographic indicators are aggregated within a 3-mile radius. Recent years show population growth alongside an even faster increase in households, implying smaller household sizes and a broader renter pool. Forward-looking projections show households continuing to rise even if population trends level off, which typically supports occupancy stability and ongoing demand for rental units.
On affordability, neighborhood home values remain more accessible than many coastal markets, which can create some competition from ownership. At the same time, rent-to-income readings are in the mid-20s percent range, suggesting manageable affordability pressure that can aid retention while requiring disciplined pricing and lease management.
Safety metrics are mixed when viewed in context. The neighborhood s overall crime position sits near the metro middle (rank 87 of 245), translating roughly to a competitive stance among Greensboro neighborhoods but closer to the national midpoint (49th percentile nationwide). Within categories, property and violent offense rates benchmark below the national median, yet both have shown year-over-year improvement, which investors can monitor as a supportive trend.
Given these dynamics, underwriting should reflect a balanced assumption set: acknowledge recent improvement while recognizing that current levels remain only around average nationally. Comparative checks against nearby submarkets can help align marketing and security spend with leasing goals.
Regional employment is anchored by headquarters and major corporate offices within commuting distance, which supports renter demand and retention through diverse white-collar and services roles. The list below highlights nearby employers most relevant to the property s workforce housing appeal.
- VF corporate offices (7.0 miles) HQ
- Laboratory Corp. of America corporate offices (14.9 miles) HQ
- Reynolds American corporate offices (30.6 miles) HQ
- BB&T Corp. corporate offices (30.6 miles) HQ
- Hanesbrands corporate offices (32.8 miles) HQ
This 24-unit asset, built in 2011, offers newer-vintage positioning versus much of the surrounding stock, with larger average floor plans that can appeal to households seeking more space. Neighborhood occupancy trends rank among the stronger cohorts locally and sit in higher national percentiles, pointing to durable leasing fundamentals. According to CRE market data from WDSuite, renter concentration near half of units in the neighborhood provides meaningful depth for tenant sourcing while supporting retention.
Within a 3-mile radius, recent growth in households outpaced population gains and is projected to continue alongside smaller household sizes a pattern that generally expands the renter pool and supports occupancy stability. Amenity density is moderate (grocery/pharmacy competitive, limited parks/cafes), which suggests a car-oriented lifestyle; investors can emphasize in-unit features and on-site services to offset walkability gaps. While ownership costs are relatively accessible compared with high-cost metros, rent-to-income in the mid-20s percent range supports balanced pricing power with prudent renewal management. As the 2011 vintage seasons, plan for selective capital projects to maintain competitive standing versus newer deliveries.
- Newer 2011 vintage and large average unit sizes enhance competitiveness versus older neighborhood stock.
- Elevated neighborhood occupancy and meaningful renter-occupied share support stable lease-up and retention.
- 3-mile household growth and smaller household sizes indicate a broadening renter pool and demand durability.
- Moderate amenity access; on-site features and parking can offset limited walkable options.
- Risks: below-average national school and safety benchmarks, some competition from ownership, and future capex as systems age.