| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 75th | Best |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6400 Old Oak Ridge Rd, Greensboro, NC, 27410, US |
| Region / Metro | Greensboro |
| Year of Construction | 1993 |
| Units | 24 |
| Transaction Date | 2016-05-24 |
| Transaction Price | $210,000 |
| Buyer | CARDINAL NC PROPERTY LLC |
| Seller | TIC CARDINAL APARTMENTS 1 LLC |
6400 Old Oak Ridge Rd Greensboro 24-Unit Multifamily
Positioned in an A-rated suburban neighborhood with steady renter demand, this asset benefits from occupancy levels that sit slightly above national norms, according to WDSuite’s CRE market data. Expect durable leasing supported by strong schools and household incomes, with room to compete on value versus newer stock.
This Greensboro submarket ranks in the top quartile among 245 metro neighborhoods, reflecting balanced fundamentals for income stability and leasing. Average school ratings are high at 4.5 out of 5 (top decile nationally), which can support retention for family-oriented renters and mid- to long-term demand.
Neighborhood occupancy is above the national median with only modest softening over the last five years, suggesting relatively stable cash flow potential versus more volatile submarkets. Renter concentration is modest (share of housing units that are renter-occupied), which can translate to a dependable but competitive tenant pool for quality multifamily product.
Within a 3-mile radius, demographics indicate a large middle- to upper-income base and incremental growth in households even as household sizes trend smaller. This mix typically supports a broader tenant base and helps sustain occupancy, while manageable rent-to-income dynamics in the neighborhood point to lower near-term retention risk and more flexibility in lease management.
Amenity density is moderate: grocery and pharmacy access compare reasonably to national averages, while parks and cafés are less concentrated. For investors, this implies a primarily drive-oriented lifestyle that still aligns with suburban renter expectations, with pricing power driven more by schools, incomes, and access rather than lifestyle retail density.
Safety indicators compare favorably to many areas nationally, with the neighborhood scoring above the national median for safety. Recent trend data from WDSuite shows notable year-over-year declines in both property and violent incident rates, a constructive backdrop for renter sentiment and leasing stability.
Proximity to regional headquarters anchors a diversified employment base that underpins renter demand and commute convenience. The nearby employers listed below collectively span apparel, tobacco, banking, and healthcare services.
- VF — apparel HQ (7.6 miles) — HQ
- Reynolds American — tobacco (17.4 miles) — HQ
- BB&T Corp. — banking (17.5 miles) — HQ
- Hanesbrands — apparel (18.9 miles) — HQ
- Laboratory Corp. of America — healthcare services (27.9 miles) — HQ
This 24-unit asset sits in a top-quartile Greensboro neighborhood with above-median occupancy and strong school quality, supporting stable leasing and family-oriented demand. Household incomes are robust, and within a 3-mile radius households are expected to increase even as average household size trends lower—signals that typically expand the renter pool and help sustain occupancy. Based on CRE market data from WDSuite, rents have risen meaningfully in the surrounding area and remain supported by rent-to-income levels that suggest manageable affordability pressure.
Operationally, a modest renter concentration implies a competitive but durable tenant base, while amenity density is more drive-oriented than lifestyle-driven. Investors can focus on value positioning, resident experience, and targeted upgrades to capture demand from workers tied to nearby headquarters and professional employment nodes.
- Top-quartile neighborhood within the Greensboro metro, with above-median occupancy supporting cash flow stability.
- Strong schools and higher household incomes bolster retention and pricing resilience.
- 3-mile radius shows growth in households and smaller household sizes, expanding the tenant base over time.
- Nearby headquarters and professional employers provide a steady commuter renter pool.
- Risks: modest renter concentration and lower amenity density can intensify competition; proactive leasing and value-focused upgrades are important.