| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 39th | Fair |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 602 Banner Ave, Greensboro, NC, 27401, US |
| Region / Metro | Greensboro |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
602 Banner Ave, Greensboro NC Multifamily Investment
Renter concentration in the surrounding neighborhood supports a durable tenant base, while occupancy has trended up modestly, according to WDSuite’s CRE market data. Crime indicators have eased year over year, suggesting improving operating stability for a value-focused asset.
This inner-suburb location balances workforce accessibility with value-oriented housing. Neighborhood occupancy is below the metro median (ranked 208 out of 245 Greensboro–High Point neighborhoods) but has improved over the past five years, pointing to gradual stabilization. Median contract rents sit in lower national percentiles, which can aid lease-up velocity and retention for cost-conscious renters.
Renter-occupied housing accounts for a majority of units in the neighborhood (52.5% renter concentration; rank 34 of 245), indicating depth in the tenant pool for multifamily investors. The local value-to-income profile is also on the lower side nationally, which can reinforce reliance on rentals and support steady demand, provided operators manage pricing and renewals thoughtfully.
Amenity density is mixed: childcare access is comparatively strong (competitive rank 11 of 245; high national percentile), while retail conveniences such as cafes, groceries, pharmacies, and parks are sparse within the neighborhood footprint. For investors, this suggests positioning the property as functional, affordable housing with emphasis on commute access and essential services over lifestyle retail.
Within a 3-mile radius, population and households have grown in recent years and are projected to continue expanding through 2028, implying a larger tenant base over time. Household sizes are expected to trend smaller, which can increase demand for efficient floor plans. These dynamics align with multifamily property research signals that favor stable occupancy management and targeted value-add in workforce submarkets, based on CRE market data from WDSuite.
Safety metrics for the neighborhood are mixed. Overall crime levels are competitive among Greensboro–High Point neighborhoods (ranked 88 out of 245), and sit around the national midpoint by percentile. Year-over-year trends have improved, with estimated violent offenses down approximately 22.6% and property offenses down roughly 52.4%.
While recent declines are constructive, absolute violent offense levels benchmark in lower national percentiles, so prudent security, lighting, and tenant engagement practices remain important to support leasing and retention.
Nearby anchor employers provide a diversified employment base that can support renter demand and retention, led by corporate headquarters in apparel, healthcare services, and financial services. The list below reflects notable employers within commuting distance.
- VF — apparel HQ (4.7 miles) — HQ
- Laboratory Corp. of America — healthcare diagnostics (17.7 miles) — HQ
- Reynolds American — consumer products (27.6 miles) — HQ
- BB&T Corp. — financial services (27.7 miles) — HQ
- Hanesbrands — apparel (29.9 miles) — HQ
Built in 1972, this 24-unit asset skews slightly newer than the neighborhood’s average vintage, offering a competitive edge versus older stock while still leaving room for system upgrades and value-add renovations. Neighborhood occupancy is below the metro median but has inched higher over five years, and renter-occupied housing is the majority, supporting depth of demand for smaller, efficient floor plans.
According to CRE market data from WDSuite, the surrounding 3-mile area shows recent and forecast growth in population and households, which can expand the renter pool and support occupancy stability. Ownership costs in the immediate area benchmark low nationally, which can create some competition from entry-level ownership; however, lower asking rents and workforce commuting patterns can sustain leasing for well-managed, value-focused communities.
- Renter concentration and growing 3-mile household base support a durable tenant pipeline.
- 1972 vintage offers value-add potential while remaining competitive versus older local stock.
- Lower rent positioning can aid retention and leasing velocity in a value-focused submarket.
- Nearby corporate headquarters broaden employment drivers and commute convenience.
- Risks: neighborhood occupancy below metro median, lean retail amenity density, and safety metrics that warrant active property management.