| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 83rd | Best |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3007 Ingleside Dr, High Point, NC, 27265, US |
| Region / Metro | High Point |
| Year of Construction | 1974 |
| Units | 112 |
| Transaction Date | 2016-10-17 |
| Transaction Price | $5,550,000 |
| Buyer | PPG Willow Woods LLC |
| Seller | Sovereign Development Company |
3007 Ingleside Dr High Point Multifamily Value-Add
Neighborhood occupancy is below national norms yet supported by a sizable renter base and solid incomes, according to WDSuite s CRE market data. The setup points to steady demand with value-add potential driven by modernization and prudent lease management.
Located in High Point s inner suburbs, the area ranks 40 out of 245 metro neighborhoods (top quartile) for overall neighborhood rating, indicating competitive fundamentals within the Greensboro High Point market. Grocery access and dining options are above the metro median, while parks, pharmacies, and cafes are limited, suggesting convenience for essentials but fewer lifestyle amenities nearby.
Median household income in the neighborhood sits above national averages, and the local rent-to-income relationship is favorable for retention, helping management sustain pricing without overextending renters. Neighborhood rents track near national midpoints, and while neighborhood occupancy trends have softened modestly over five years, the renter-occupied share is about one-third of housing units a depth of tenant demand that supports leasing stability for multifamily assets.
Within a 3-mile radius, population and households have grown in recent years, with households expanding faster than population, pointing to smaller average household sizes and a gradually expanding renter pool that can support occupancy stability. Forward-looking projections within 3 miles indicate additional increases in households and incomes, implying a larger tenant base and improved spending power over time.
The property s 1974 construction is older than the neighborhood s average vintage (1982). For investors, that typically means planning for targeted capital expenditures and interior upgrades to sharpen competitiveness against newer stock a classic value-add path that can translate into stronger renewals and measured rent growth where justified by finishes and operations.
Home values in the neighborhood are moderate relative to incomes, which can introduce some competition from ownership. For multifamily, this generally emphasizes the importance of unit quality, service, and leasing strategies to maintain retention while capturing achievable rent premiums.
Safety indicators compare less favorably than national averages. The neighborhood s crime profile sits below the national median (around the lower national percentiles), signaling higher incident rates than many U.S. neighborhoods. Within the metro, this places the area below mid-pack. Investors should underwrite with appropriate security measures and diligence on lighting, access control, and community standards.
Recent trends are mixed: estimated property offense rates show a modest year-over-year decline, while estimated violent offense rates increased. These are neighborhood-level metrics, not property-specific, and should be factored into insurance, operating protocols, and resident experience planning rather than treated as deterministic outcomes.
Proximity to regional headquarters underpins a diverse white-collar employment base that can support renter demand and retention. Key employers within commuting distance include BB&T Corp., Reynolds American, VF, Hanesbrands, and Laboratory Corp. of America.
- BB&T Corp. corporate offices (13.4 miles) HQ
- Reynolds American corporate offices (13.5 miles) HQ
- VF corporate offices (15.8 miles) HQ
- Hanesbrands corporate offices (18.3 miles) HQ
- Laboratory Corp. of America corporate offices (34.2 miles) HQ
This 112-unit asset with large average floor plans provides a value-add angle in a competitive inner-suburban location. Neighborhood-level occupancy is below national norms but supported by an established renter base and above-average incomes, and, based on commercial real estate analysis from WDSuite, rent-to-income positioning suggests room for measured improvements without undue affordability pressure. The 1974 vintage implies targeted capex and interior modernization can drive relative competitiveness against newer stock.
Macro drivers within a 3-mile radius including recent and projected household growth with rising incomes indicate a gradually expanding tenant base that can support occupancy stability and retention. Investors should balance these fundamentals against moderate amenity depth and safety considerations, underwriting for operational enhancements, security, and disciplined leasing to capture durable performance.
- Value-add potential from 1974 vintage via targeted capex and interior upgrades
- Established renter base with above-average neighborhood incomes supporting leasing stability
- 3-mile radius shows household growth and rising incomes, expanding the tenant pool
- Favorable rent-to-income positioning may support measured rent initiatives
- Risks: below-national neighborhood occupancy, lower amenity density, and safety metrics below national norms