| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 47th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4205 Hewitt St, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 2013-05-22 |
| Transaction Price | $3,486,000 |
| Buyer | SBV GREENSBORO I LLC |
| Seller | CMLT 2008 LSI LIVING 4203 LLC |
4205 Hewitt St Greensboro 24-Unit Multifamily
Neighborhood occupancy sits around the low-90% range and the surrounding area shows a durable renter base, according to WDSuite's CRE market data, supporting steady tenant demand.
Rated B+ and ranked 66 out of 245 Greensboro-High Point neighborhoods, this inner-suburb location is competitive among metro peers. Amenity access is serviceable, with cafes (ranked 18/245) and groceries (38/245) comparatively dense for the metro, while parks and pharmacies are limited within the immediate neighborhood. Restaurants are also reasonably represented (55/245), which helps day-to-day livability for residents.
Rents in the neighborhood trend on the more accessible side for the metro, and the neighborhood's occupancy rate of 90.6% suggests generally consistent leasing conditions rather than peak tightness. With a rent-to-income ratio near 0.21, operators can plan around moderate affordability pressure, which has implications for renewal strategy and pricing power.
Within a 3-mile radius, population has grown modestly over the past five years and is projected to increase further, with households expanding more quickly than population. That dynamic points to smaller household sizes and a broader tenant base, which can support occupancy stability and absorption for mid-sized assets. Just over half of housing units within this 3-mile area are renter-occupied, indicating meaningful depth for multifamily demand.
The property was built in 1988, which is somewhat newer than the neighborhood's average vintage (1981). For investors, this generally supports competitive positioning versus older stock, while still allowing for targeted renovations or systems upgrades to capture rent premiums without a full repositioning.
Safety indicators are mixed when viewed against metro and national benchmarks. The neighborhood's crime rank is 91 out of 245 Greensboro-High Point neighborhoods, indicating higher exposure than many local areas. Nationally, safety metrics track below the median, but recent trends are constructive: estimated violent offenses declined by 20.3% year over year and estimated property offenses fell by 51.0%, signaling momentum in the right direction based on WDSuite's data.
Proximity to established corporate employers supports a steady commuter renter base and reinforces leasing durability for workforce-oriented units. Nearby anchors include VF, Reynolds American, BB&T Corp., Hanesbrands, and Laboratory Corp. of America.
- VF — apparel (5.9 miles) — HQ
- Reynolds American — tobacco (21.3 miles) — HQ
- BB&T Corp. — financial services (21.3 miles) — HQ
- Hanesbrands — apparel (24.0 miles) — HQ
- Laboratory Corp. of America — diagnostics & lab services (24.2 miles) — HQ
This 24-unit, 1988-vintage asset sits in a competitive B+ neighborhood where occupancy runs in the low-90% range and rents are positioned for retention-focused operations. According to CRE market data from WDSuite, amenity access is stronger for cafes and groceries relative to many Greensboro-High Point neighborhoods, while limited parks and pharmacies are a consideration for resident experience. The slightly newer-than-average vintage offers a platform for targeted renovations to drive premiums without the scope of a full repositioning.
Within a 3-mile radius, recent population growth and a faster rise in household counts suggest a larger tenant base ahead. Forecasts point to continued renter pool expansion and rising incomes, which can support lease-up and renewal strategies for well-managed mid-sized properties. Proximity to multiple corporate headquarters across apparel, tobacco, financial services, and healthcare underpins commuter demand and reduces seasonality risk.
- Competitive B+ neighborhood (66 of 245) with steady occupancy dynamics
- 1988 vintage supports value-add through targeted interior and systems updates
- 3-mile area shows population and household growth, reinforcing demand depth
- Nearby corporate HQs bolster commuter renter demand and retention
- Risks: higher-than-metro crime exposure and limited parks/pharmacies may influence resident experience