| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 74th | Best |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4535 W Wendover Ave, Greensboro, NC, 27409, US |
| Region / Metro | Greensboro |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2009-12-03 |
| Transaction Price | $1,645,000 |
| Buyer | WENDOVER AXCESS APARTMENTS LLC |
| Seller | HAWTHORNE CROSSING LLC |
4535 W Wendover Ave Greensboro 24-Unit Investment
Built in 2011 and positioned in Greensboro's inner suburbs, this 24-unit asset competes well against older local stock and taps into a deep renter base, according to WDSuite's CRE market data.
Neighborhood dynamics and livability
The property sits in an Inner Suburb pocket of Greensboro-High Point with everyday conveniences close by. Neighborhood amenity density is competitive among metro peers for dining and cafes (restaurant and cafe counts are competitive among Greensboro-High Point neighborhoods), while formal parks and childcare options are limited. For investors, this mix supports day-to-day renter convenience without relying on destination amenities.
The neighborhood's housing stock skews older than this asset (average vintage 1989), so a 2011 build offers relative competitiveness versus nearby properties, with potential to draw renters seeking more modern finishes and systems. Neighborhood occupancy is below national averages and has softened modestly in recent years, so disciplined leasing and renewal management should remain a focus.
Renter-occupied housing has a high share at the neighborhood level (top decile nationally), signaling depth in the tenant base and potential demand stability for multifamily. Median rents and household incomes in the area are solid for the metro, and a rent-to-income profile around the low 20% range suggests manageable affordability pressure—a constructive backdrop for retention and steady collections under thoughtful lease management informed by multifamily property research.
Within a 3-mile radius, demographics show modest recent population growth with a forecasted increase in both households and incomes over the next five years. Rising household counts and income gains point to a larger tenant base and potential for sustained demand, while smaller average household sizes over time can support continued interest in professionally managed apartments. At the same time, relatively accessible home values for the metro mean some competition from ownership alternatives, which argues for maintaining a clear value proposition on convenience, finishes, and professional management.
Safety context
Relative to U.S. neighborhoods, this area sits below the national midpoint for safety (around the mid-40s percentile), and within the Greensboro-High Point metro it falls in the lower half for crime intensity (113 of 245 neighborhoods). Investors should underwrite to prudent security measures and experienced property management.
Recent trend data is constructive: estimated violent and property offense rates have declined year over year, with reductions that rank among the stronger improvements at the metro and national levels. While conditions vary by block and property, this downward trajectory can support leasing and retention when paired with visible on-site safety practices.
Proximity to major corporate headquarters underpins renter demand by shortening commutes for a diverse workforce. Nearby anchors include apparel, tobacco, banking, and life-sciences employers with regional hiring footprints.
- VF — apparel (7.9 miles) — HQ
- BB&T Corp. — banking (19.0 miles) — HQ
- Reynolds American — tobacco (19.0 miles) — HQ
- Hanesbrands — apparel (22.0 miles) — HQ
- Laboratory Corp. of America — diagnostics (26.6 miles) — HQ
Investment view
This 2011-vintage, 24-unit asset offers a relative edge over the neighborhood's older housing stock, with infrastructure and finishes that can compete well in an Inner Suburb location. The surrounding area shows a high share of renter-occupied housing and a rent-to-income profile near the low 20% range, supporting occupancy stability when paired with disciplined leasing. Within a 3-mile radius, forecasts point to growth in households and incomes, expanding the tenant base and reinforcing demand for professionally managed apartments.
Neighborhood occupancy has trended softer than national norms and ownership remains comparatively accessible locally, which argues for active asset management and sharpening the property's value proposition. According to CRE market data from WDSuite, recent crime measures have been improving on a year-over-year basis, and median rents have moved up at the neighborhood level—conditions that can support steady performance when paired with attentive operations and targeted capital planning.
- 2011 construction competes well versus older nearby stock, reducing near-term CapEx relative to 1980s-vintage comparables.
- High renter-occupied share signals depth of tenant base and supports leasing velocity and renewals.
- 3-mile forecasts show household and income growth, expanding the renter pool and supporting demand.
- Affordability appears manageable at local rent-to-income levels, aiding retention and collections.
- Risks: neighborhood occupancy below national norms and comparatively accessible ownership may create competition—active leasing and a clear value proposition are key.