| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 33rd | Fair |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 501 Creek Ridge Rd, Greensboro, NC, 27406, US |
| Region / Metro | Greensboro |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | 2006-10-25 |
| Transaction Price | $88,000 |
| Buyer | ESTES & AUMAN LLC |
| Seller | MELTON PAUL D |
501 Creek Ridge Rd Greensboro Multifamily Investment
Neighborhood occupancy has held firm and the 2007 vintage positions the asset competitively versus older local stock, according to WDSuite’s CRE market data. Expect steady renter demand supported by nearby services and a broad tenant base.
Located in Greensboro’s inner suburb fabric, the property benefits from neighborhood occupancy around 96.7% (top quartile nationally and competitive among 245 Greensboro-High Point neighborhoods). For investors, this points to durable leasing conditions and reduced downtime risk relative to many national peers.
Everyday convenience is solid: grocery access and restaurant density rank in the upper tiers locally (both in the 80th percentile nationally), and parks and childcare options test well above average. Pharmacy and cafe density are thinner, which may limit some walk-to conveniences, but overall amenity coverage is serviceable for workforce renters.
Within a 3-mile radius, households have been increasing while population also edged higher, expanding the tenant base; projections through 2028 indicate further population and household growth, reinforcing demand for rental units. Renter-occupied housing units account for a majority of tenure within this radius, signaling a deep pool for multifamily leasing and potential retention benefits as households form and move within the submarket.
Ownership costs in the immediate neighborhood remain relatively accessible by national standards, which can introduce some competition from entry-level homebuying. That said, a rent-to-income ratio near 0.21 suggests manageable affordability pressure for many renters, supporting lease stability. School ratings trend low relative to national benchmarks, a consideration for family-oriented renter segments and for positioning the asset’s marketing.
The 2007 construction is newer than the neighborhood average vintage (1986), offering a competitive edge versus older stock. Investors should still underwrite routine system updates and modernization as the asset approaches two decades of life, but the relative vintage should aid leasing and limit near-term obsolescence risk.
Neighborhood safety performance sits around the national median (53rd percentile) and is competitive among 245 Greensboro-High Point neighborhoods (crime rank 66 of 245). Year over year, both violent and property offense estimates have improved materially, placing the area in the top quintile nationally for improvement momentum. For investors, the directional trend is constructive while overall safety remains in a mid-range band relative to U.S. neighborhoods.
As with any infill location, conditions can vary by corridor and time of day. Framing expectations with residents around on-site lighting, access control, and visible property management can help sustain leasing and retention as neighborhood trends continue to normalize.
Proximity to major headquarters and regional offices supports a broad workforce renter base and commute convenience, notably in apparel, diagnostics, tobacco, banking, and consumer goods.
- VF — apparel HQ (6.35 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (20.92 miles) — HQ
- Reynolds American — tobacco HQ (25.15 miles) — HQ
- BB&T Corp. — banking HQ (25.18 miles) — HQ
- Hanesbrands — apparel HQ (28.04 miles) — HQ
501 Creek Ridge Rd offers a 24-unit, 2007-vintage asset positioned in a neighborhood with above-median occupancy and a growing 3-mile renter pool. The newer vintage versus local averages enhances competitiveness against older stock, while nearby services and access to several regional headquarters underpin steady workforce demand. According to CRE market data from WDSuite, the neighborhood sits in the top quartile nationally for occupancy, supporting expectations for leasing stability.
Investor focus should balance the asset’s demand drivers with practical underwriting: maintain capital plans for systems approaching 20 years, monitor rent-to-income dynamics to protect retention, and calibrate marketing given lower school ratings. Overall, the blend of occupancy strength, workforce proximity, and relative vintage supports a long-term hold or value-focused light renovation strategy.
- Neighborhood occupancy in the top quartile nationally supports steady leasing and limited downtime risk.
- 2007 vintage competes well versus older local stock, with manageable modernization planning.
- Expanding 3-mile renter pool and proximity to multiple headquarters reinforce tenant demand depth.
- Affordability appears balanced (rent-to-income near 0.21), aiding retention with measured rent growth.
- Risks: lower school ratings, mid-range safety, and potential competition from entry-level ownership options.