| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 34th | Fair |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3900 Marchester Way, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2001-06-12 |
| Transaction Price | $5,200,000 |
| Buyer | HANOVER TERRACE LLC |
| Seller | BROWN APARTMENTS & DEVELOPMENT LLC |
3900 Marchester Way Greensboro 24-Unit Multifamily
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the metro, according to WDSuite s CRE market data. This submarket s renter concentration supports leasing stability while offering room for targeted value-add.
Located in Greensboro s inner suburbs, the property benefits from a neighborhood rated A- and ranked 51 out of 245 Greensboro-High Point neighborhoods, placing it in the top quartile locally. The area s occupancy rank (107 of 245) is above the metro median, a constructive backdrop for maintaining leased units and moderating downtime between turns.
Daily-needs access is a relative strength: grocery, pharmacy, parks, and restaurants rank in the top quartile among 245 metro neighborhoods, while cafes are thinner. For family-oriented renters, average school ratings trend below regional norms (low national percentile), which may shape tenant mix and leasing strategy.
Within a 3-mile radius, population has grown over the last five years with households expanding at a faster pace, indicating smaller average household sizes and a larger tenant base. Forward-looking estimates also indicate additional household growth, supporting renter pool expansion and occupancy stability. Median contract rents in the 3-mile area remain accessible relative to incomes, helping with retention and renewal strategies.
Vintage matters: built in 1999 versus a neighborhood average year of 1983, the asset is newer than much of the surrounding stock, aiding competitive positioning versus older properties; investors should still anticipate selective system updates or light renovations to align with current renter expectations derived from multifamily property research.
Safety trends are mixed but improving. The neighborhood s crime rank sits 59 out of 245 metro neighborhoods; lower ranks indicate more crime relative to peers, yet the national percentile suggests conditions are slightly safer than average nationally. Notably, estimated property offenses show a sharp year-over-year decline, placing the area in a high national improvement percentile, which is supportive for perception and leasing.
Violent offense rates benchmark below the national median by percentile framing, with recent improvements modestly positive. As with any micro-location analysis, outcomes vary block to block; investors typically underwrite security lighting, resident engagement, and visibility measures to sustain momentum rather than assuming trend continuation.
Proximity to established corporate anchors underpins workforce housing demand and commute convenience for renters, including VF, Reynolds American, BB&T Corp., Laboratory Corp. of America, and Hanesbrands.
- VF — corporate offices (7.2 miles) — HQ
- Reynolds American — corporate offices (21.7 miles) — HQ
- BB&T Corp. — corporate offices (21.7 miles) — HQ
- Laboratory Corp. of America — corporate offices (24.3 miles) — HQ
- Hanesbrands — corporate offices (24.8 miles) — HQ
3900 Marchester Way offers a 24-unit footprint in a neighborhood that ranks in the top quartile locally and maintains above-median occupancy for Greensboro-High Point. Built in 1999, the asset is newer than the neighborhood s average vintage, supporting competitive positioning versus older stock while leaving room for targeted updates to drive rent premiums. Household growth within a 3-mile radius and a relatively high renter-occupied share in the neighborhood deepen the tenant base and support leasing continuity, and, according to CRE market data from WDSuite, daily-needs access is a strength across groceries, pharmacies, parks, and restaurants.
From a demand and pricing standpoint, rent-to-income levels appear manageable for retention, and while local home prices are lower than national medians, ownership costs relative to local incomes remain elevated enough to sustain reliance on rentals. Risks to underwrite include softer school ratings and uneven crime dynamics despite recent improvement, as well as modest NOI benchmarks in parts of the metro.
- Newer 1999 vintage versus local average supports competitive positioning with light value-add potential
- Above-median neighborhood occupancy and expanding 3-mile household base support leasing stability
- Strong daily-needs access (grocery, pharmacy, parks, dining) enhances renter convenience and retention
- Balanced ownership landscape: lower absolute home values but higher value-to-income ratios sustain renter reliance
- Risks: below-average school ratings, mixed safety signals, and modest NOI benchmarks warrant conservative underwriting