| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 73rd | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5406 Garden Lake Dr, Greensboro, NC, 27410, US |
| Region / Metro | Greensboro |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2019-07-11 |
| Transaction Price | $9,700,000 |
| Buyer | NG APARTMENTS LLC |
| Seller | NEW GARDEN SQUARE APARTMENTS LLC |
5406 Garden Lake Dr Greensboro 24-Unit Multifamily
Built in 2013 and situated in an A+ inner-suburb pocket, the asset competes well against older local stock while benefiting from solid neighborhood amenities, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady and renter demand is supported by a balanced rent-to-income profile, offering investors a pragmatic blend of stability and operational upside.
This Greensboro inner-suburb scores A+ overall (8th of 245 metro neighborhoods), placing it in the top quartile locally for livability and investment fundamentals. Cafes and groceries are competitive among Greensboro-High Point neighborhoods, with densities that sit in the top quartile nationally, supporting daily convenience for residents and reinforcing leasing appeal. Parks and pharmacies are thinner within the immediate neighborhood, so residents may rely more on nearby submarkets for those needs, a minor consideration for marketing and tenant retention.
The property’s 2013 vintage is newer than the neighborhood’s average construction year (2004). For investors, this typically translates to stronger competitive positioning versus older stock and potential near-term capital efficiency, while still planning for mid-life systems updates and selective modernization to sustain rentability.
Within a 3-mile radius, demographics indicate a large, diversified resident base with recent population softening but a projected stabilization over the next five years. Notably, households are expected to increase with smaller average household sizes, pointing to a larger tenant base and renter pool expansion that can support occupancy stability and leasing velocity.
Home values in the area are elevated for the region, and median contract rents pair with a rent-to-income profile around the high teens. For multifamily investors, this combination suggests manageable affordability pressure that can aid lease retention and measured pricing power, especially for well-maintained, newer assets.
Safety indicators show mixed positioning: nationally, the neighborhood sits in an upper-tier percentile for safety, while within the Greensboro-High Point metro its crime rank signals comparatively higher reported crime than many local peers. Recent trends are favorable, with sharp year-over-year reductions in both property and violent offenses, indicating improving conditions that can support resident satisfaction and reduce operational friction over time.
Proximity to established corporate employers underpins renter demand through commute convenience and a diversified white-collar employment base. Nearby anchors include VF, Reynolds American, BB&T Corp., Hanesbrands, and Laboratory Corp. of America.
- VF — apparel HQ (4.8 miles) — HQ
- Reynolds American — consumer products HQ (20.1 miles) — HQ
- BB&T Corp. — financial services HQ (20.2 miles) — HQ
- Hanesbrands — apparel HQ (21.9 miles) — HQ
- Laboratory Corp. of America — healthcare diagnostics HQ (25.0 miles) — HQ
5406 Garden Lake Dr is a 24-unit asset delivered in 2013, newer than the neighborhood’s average vintage. That positioning helps the property compete for tenants against older inventory while maintaining capital flexibility. Neighborhood data shows strong convenience retail and dining access and a balanced rent-to-income profile; based on commercial real estate analysis from WDSuite, these factors support leasing durability even as the metro experiences pockets of softer occupancy.
Within a 3-mile radius, household growth is projected alongside smaller household sizes, implying more renters entering the market and a broader tenant base over time. Elevated ownership costs for the area continue to reinforce reliance on multifamily housing, aiding retention and measured rent setting for well-operated, mid-life assets.
- 2013 construction offers competitive positioning versus older neighborhood stock with manageable mid-life CapEx planning.
- Convenience amenities (groceries, cafes) in top-tier local standing support leasing and day-to-day resident value.
- 3-mile household growth and smaller household sizes point to renter pool expansion and occupancy stability.
- Balanced rent-to-income dynamics underpin retention while allowing disciplined pricing for quality operations.
- Risks: softer neighborhood occupancy versus some metro peers and thinner park/pharmacy access; maintain marketing focus and resident services to support retention.