| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 33rd | Fair |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 421 Rocky Knoll Rd, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 2013 |
| Units | 30 |
| Transaction Date | 2011-03-04 |
| Transaction Price | $83,500 |
| Buyer | ROCKY KNOLL LIMITED PARTHIP |
| Seller | TLR COMMERCIAL LLC |
421 Rocky Knoll Rd Greensboro Multifamily Investment
Neighborhood occupancy remains elevated and stable relative to the metro, according to WDSuite’s CRE market data, supporting a steady renter base around this address. Figures cited are for the neighborhood, not the property.
Located in an Inner Suburb pocket of Greensboro-High Point (neighborhood rating: B+), the area around 421 Rocky Knoll Rd shows durable renter demand with neighborhood occupancy in the top quartile nationally and above the metro median. Median contract rents in the neighborhood have risen over the past five years, indicating steady pricing power without outsized affordability pressure.
Daily needs are well served: grocery access ranks strong (26 out of 245 metro neighborhoods) and parks are comparatively plentiful (10 of 245), while restaurants are competitive among Greensboro-High Point neighborhoods (21 of 245). Café density and pharmacies are thinner locally, suggesting residents may rely on adjacent areas for those services—relevant for positioning amenities on-site. This mix offers a practical backdrop for workforce-oriented tenants and aligns with multifamily property research focused on convenience-driven retention.
Within a 3-mile radius, renter-occupied units account for a majority share of housing, pointing to a deeper tenant pool and potential leasing resilience. Over the last five years, the 3-mile area saw modest population growth with a larger increase in households, which typically supports occupancy stability and turnover management. Projections over the next five years indicate additional population and household growth in the 3-mile radius, signaling further expansion of the renter pool.
Home values in the neighborhood sit below national norms (low national percentile), which can make ownership more attainable for some households; investors should monitor potential competition from entry-level ownership options. Even so, the neighborhood’s rent-to-income ratio remains moderate, which can support lease retention and measured rent increases when combined with strong occupancy trends.
Vintage matters: the property’s 2013 construction is newer than the neighborhood’s average vintage (1986). Newer stock can compete effectively against older comparables and may reduce near-term capital needs; investors should still underwrite for ongoing system updates and targeted modernization to sustain positioning.
Safety indicators are mixed but improving. The neighborhood’s overall crime rank is 66 out of 245 Greensboro-High Point neighborhoods, which is competitive among metro peers. Nationally, the area trends around the middle of the pack for overall safety, while property and violent offense percentiles sit below national averages. Notably, one-year trends show material improvement across both violent and property categories, indicating momentum in the right direction.
Investors should frame safety in comparative terms across the metro and monitor trend continuity rather than relying on block-level assumptions. Improvements over the last year are constructive, but underwriting should incorporate conservative assumptions, appropriate security measures, and tenant communication to support retention.
The employment base within commuting distance features several corporate headquarters that support steady renter demand through diverse white-collar and operations roles. Nearby anchors include VF, Laboratory Corp. of America, Reynolds American, BB&T Corp., and Hanesbrands.
- VF — apparel & footwear HQ (7.2 miles) — HQ
- Laboratory Corp. of America — diagnostics & lab services (21.4 miles) — HQ
- Reynolds American — consumer products (25.1 miles) — HQ
- BB&T Corp. — banking & financial services (25.1 miles) — HQ
- Hanesbrands — apparel manufacturing (28.1 miles) — HQ
This 30-unit, 2013-vintage asset benefits from a neighborhood with strong occupancy performance and a renter-leaning housing base within a 3-mile radius, supporting a durable tenant pipeline. The newer vintage relative to local stock (average 1986) can translate to competitive positioning versus older properties, with capital plans focused on targeted modernization rather than heavy systems replacement.
Demand fundamentals are reinforced by household growth within 3 miles and projections that point to additional population and household expansion, which can support occupancy stability and measured rent growth. According to CRE market data from WDSuite, neighborhood occupancy ranks above the metro median and sits in the top quartile nationally, while rents have risen over the last five years—factors that, together with moderate rent-to-income ratios, can aid retention. Key watch items include safety variability, below-average school ratings, and the potential for competition from accessible homeownership options.
- 2013 construction offers competitive positioning versus older local stock with manageable near-term capex
- Neighborhood occupancy is top quartile nationally and above metro median, supporting leasing stability
- 3-mile radius shows growing households and projected renter pool expansion, reinforcing demand
- Moderate rent-to-income dynamics can support retention and measured rent growth
- Risks: safety variability, low average school ratings, and competition from entry-level ownership