| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 31st | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 N Benbow Rd, Greensboro, NC, 27401, US |
| Region / Metro | Greensboro |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2013-11-01 |
| Transaction Price | $1,395,000 |
| Buyer | DG A&T, LLC |
| Seller | Sterling Properties, LLP |
400 N Benbow Rd Greensboro Multifamily Investment
Neighborhood renter concentration is high and occupancy has trended upward in recent years, according to WDSuite’s CRE market data, signaling durable tenant demand with some lease-up management required at this location in Greensboro, NC.
Located in an Inner Suburb of Greensboro-High Point, the neighborhood posts a B- rating and sits competitive among Greensboro-High Point neighborhoods (ranked 136 out of 245). For investors, this suggests steady but mixed fundamentals: restaurants are relatively dense (nationally in the upper percentiles), while daily conveniences like groceries are present at above-average levels. However, parks, cafes, and pharmacies are sparse within the neighborhood footprint.
Renter demand is an identifiable strength: the neighborhood s share of renter-occupied housing units is very high (upper national percentiles), indicating a deep tenant base that can support leasing and renewals. By contrast, the neighborhood occupancy rate sits below the metro median but has improved materially over the last five years, pointing to recovery potential rather than structural weakness, based on CRE market data from WDSuite.
Schools average around mid-3 out of 5 across nearby options (above the national median percentile), which can aid retention for family renters. The 1999 vintage of the asset is newer than the area 19s average housing stock (1969); that positions the property competitively versus older comparables, though investors should still underwrite ongoing system updates and selective modernization to sustain performance.
Within a 3-mile radius, demographics indicate a growing renter pool: population has expanded in recent years and is projected to continue rising through 2028, with households also expected to increase. This points to a larger tenant base over time and supports occupancy stability. Elevated home value-to-income ratios at the neighborhood level reinforce reliance on rental housing, which can bolster pricing power for well-managed multifamily assets.
Affordability bears monitoring: neighborhood rent-to-income measures suggest some pressure relative to national norms, so thoughtful lease management and amenity alignment remain important for retention. Still, the combination of strong renter concentration, improving occupancy, and location fundamentals creates a compelling backdrop for durable cash flow.
Safety trends are mixed but improving. At the metro level, the neighborhood tracks near the middle of Greensboro-High Point on crime, and national comparisons land around the mid-range as well. Notably, both property and violent offense rates have declined year over year, with improvements outpacing many peer areas, according to WDSuite s CRE market data.
Investors should frame safety as block-to-block and time-of-day sensitive while relying on comparative context: this area is neither among the highest- nor lowest-risk parts of the region, and recent momentum has been favorable. When evaluating underwriting assumptions, pair neighborhood trend data with on-the-ground observations and property-level measures.
Proximity to established corporate employers helps support renter demand through steady commuter flows. Notable headquarters and offices within an easy drive include VF, Laboratory Corp. of America, Reynolds American, BB&T Corp., and Hanesbrands.
- VF apparel HQ (3.6 miles) HQ
- Laboratory Corp. of America diagnostics & lab services (18.5 miles) HQ
- Reynolds American consumer products offices (26.7 miles) HQ
- BB&T Corp. banking offices (26.8 miles) HQ
- Hanesbrands apparel HQ (28.8 miles) HQ
This 24-unit, 1999-vintage asset offers relative competitiveness versus older neighborhood stock, tapping into a submarket with high renter-occupied share and improving occupancy. Dining and grocery access are strengths at the neighborhood level, and within a 3-mile radius both population and household counts are set to rise, expanding the tenant base and supporting lease-up and renewal stability. Elevated ownership costs relative to incomes locally tend to sustain reliance on rentals, which can underpin steady demand for well-managed units.
According to CRE market data from WDSuite, the neighborhood s occupancy trend has improved over the last five years, while safety indicators have moved in a favorable direction. Affordability pressure warrants careful rent setting and amenity calibration, but the combination of renter concentration, location fundamentals, and a newer-than-average vintage creates a balanced, income-oriented thesis with measured upside through targeted renovations and operational execution.
- High renter concentration and improving neighborhood occupancy support demand durability
- 1999 vintage offers competitive positioning versus older area stock with selective value-add potential
- 3-mile radius shows population and household growth, expanding the tenant base
- Nearby corporate employers provide a stable commuter base that aids leasing
- Risks: below-metro occupancy starting point and rent-to-income pressure require disciplined lease management