| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 78th | Best |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3909 Pallas Way, High Point, NC, 27265, US |
| Region / Metro | High Point |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3909 Pallas Way High Point 24-Unit Multifamily
Situated in an A+ rated inner-suburb neighborhood of Greensboro–High Point, the asset benefits from steady neighborhood occupancy and a deep renter base at the neighborhood level, according to WDSuite’s commercial real estate analysis. The takeaway for investors is consistent renter demand and leasing durability driven by location fundamentals rather than transient catalysts.
Location fundamentals are a core strength. The neighborhood ranks 2nd out of 245 Greensboro–High Point neighborhoods with an A+ rating, indicating balanced demand drivers and livability advantages. Neighborhood occupancy is competitive among Greensboro–High Point neighborhoods, supported by a five‑year uptick, which points to stable leasing conditions rather than short‑term spikes (based on CRE market data from WDSuite).
Daily‑needs access is solid at the neighborhood level: groceries, restaurants, and childcare availability rank competitive among the 245‑neighborhood metro, with national amenity percentiles generally in the mid‑to‑upper range. While park access is limited, the amenity mix supports day‑to‑day convenience that typically helps leasing velocity and renewal rates. School rating specifics are not available; investors should underwrite education factors via property‑level tours and district sources if relevant to tenant profiles.
Tenure patterns point to multifamily demand depth: approximately a mid‑50s share of housing units are renter‑occupied in this neighborhood, placing it in the top quartile among 245 metro neighborhoods and near the top decile nationally. For investors, that renter concentration supports a larger tenant base and generally steadier absorption for similar assets.
Demographic metrics are aggregated within a 3‑mile radius. Recent years show modest population growth with household counts increasing, and projections indicate households continue to rise even if population trends flatten, implying smaller household sizes and a broader renter pool. Rising median incomes alongside measured rent levels suggest manageable rent‑to‑income dynamics that can support retention and moderate pricing power. Home values in the area are lower than in high‑cost coastal markets, which may introduce some competition from ownership; however, that ownership landscape can coexist with steady multifamily demand when product quality and convenience remain competitive.
Safety indicators are mixed and should be underwritten with care. The neighborhood’s crime rank sits near the middle of the pack at 123 out of 245 Greensboro–High Point neighborhoods, indicating conditions that are neither among the highest‑risk nor the strongest within the metro. Nationally benchmarked percentiles show property and violent offense levels below the national median, but recent data also point to an improvement trend in violent offenses over the past year.
For investors, the takeaway is to pair the improving trend with on‑site diligence (lighting, access control, visibility) and to monitor submarket policing and community initiatives. Comparative framing is more useful here than block‑level assumptions; consider how the asset’s physical security and management practices can sustain leasing and retention amid mid‑tier regional safety metrics.
The broader Triad corporate base provides diversified employment nodes that can support renter demand and commute convenience for residents, particularly to headquarters in apparel, finance, and life sciences listed below.
- VF — apparel HQ (10.8 miles) — HQ
- Reynolds American — tobacco products HQ (16.5 miles) — HQ
- BB&T Corp. — banking HQ (16.5 miles) — HQ
- Hanesbrands — apparel HQ (20.0 miles) — HQ
- Laboratory Corp. of America — diagnostics & life sciences HQ (29.5 miles) — HQ
3909 Pallas Way is a 24‑unit asset built in 2005, giving it a newer‑than‑average vintage versus nearby housing stock. That positioning supports competitive appeal against older properties, while investors should still plan for targeted modernization as systems age. At the neighborhood level, occupancy is competitive among Greensboro–High Point submarkets, and renter concentration sits in the top quartile locally, indicating a deeper tenant base and steadier absorption. According to CRE market data from WDSuite, amenity access is favorable and five‑year occupancy trends have improved, reinforcing expectations for lease stability.
Within a 3‑mile radius, household counts are increasing and incomes have risen, which expands the renter pool and supports retention. Ownership costs are relatively accessible compared with high‑cost metros, so some competition from entry‑level ownership is possible; however, measured rent‑to‑income levels suggest manageable affordability pressure that can sustain leasing and moderate pricing power. The net effect is a location‑driven, demand‑supported thesis with practical upside via ongoing unit and common‑area refreshes rather than heavy repositioning.
- Newer 2005 vintage enhances competitiveness versus older neighborhood stock
- Neighborhood occupancy and renter concentration support demand and leasing stability
- Amenity access and inner‑suburb setting aid renewal rates and absorption
- Income growth and rising household counts (3‑mile radius) expand the tenant base
- Risk: mid‑pack safety metrics and potential competition from ownership warrant conservative underwriting