| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 58th | Good |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5000 Samet Dr, High Point, NC, 27265, US |
| Region / Metro | High Point |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2015-02-11 |
| Transaction Price | $23,700,000 |
| Buyer | EBSCO HIGHBROOK LLC |
| Seller | NNN HIGHBROOK 2 LLC |
5000 Samet Dr, High Point NC Multifamily Investment
Neighborhood occupancy has been resilient and renter demand is supported by steady household growth, according to WDSuite s CRE market data, positioning this asset for stable leasing in a suburban node of Greensboro High Point.
The property sits in an inner-suburb neighborhood of High Point rated A and ranked 11 out of 245 metro neighborhoods, placing it firmly in the top quartile locally. Restaurant and cafe density score above national midpoints, while grocery and pharmacy access are competitive, pointing to day-to-day convenience; park access is limited, which may temper some lifestyle appeal. Median neighborhood contract rents sit near the metro middle, and the rent-to-income ratio trends moderate, supporting retention and measured pricing power for professionally managed assets.
Occupancy at the neighborhood level is strong relative to national benchmarks, with neighborhood occupancy indicating mid-90s stability and an upward trend over the past five years. The renter-occupied share of housing units is roughly one-third, signaling a balanced tenure mix that still provides a sufficient tenant base for multifamily while limiting overexposure to purely renter-driven swings. For multifamily property research, these characteristics collectively suggest steady absorption and less volatile turnover than more renter-concentrated submarkets.
Within a 3-mile radius, recent demographics show population growth over the past five years alongside a similar increase in households, which expands the local renter pool and supports occupancy stability. Forward-looking projections indicate households may continue to rise even if overall population softens slightly, implying smaller household sizes and incremental demand for rental units catering to singles and downsizing households. Household incomes have advanced meaningfully in this radius, which can underpin effective rent collection and reduce lease-downside risk.
The asset s 1999 vintage is somewhat older than the neighborhood s early-2000s average, highlighting potential value-add through interior updates and selective capital planning to remain competitive against newer stock. Elevated home values for the area remain below high-cost coastal markets, which can introduce some competition from ownership; however, ownership costs are not low enough to erase sustained rental demand, supporting lease retention where operations and finishes are kept current.
Safety trends are mixed to slightly below national averages. The neighborhood s overall crime standing sits around the metro median among 245 Greensboro High Point neighborhoods, and national comparisons place it below the national midpoint for safety. Recent one-year readings show modest declines in both property and violent offense rates, which is a constructive directional signal but not yet a definitive trend. Investors should underwrite with standard precautions such as lighting, access control, and resident screening calibrated to submarket norms.
Proximity to several corporate headquarters across apparel, banking, and healthcare supports a diversified employment base and commute convenience that can aid leasing and retention for workforce and professional tenants. Nearby anchors include VF, BB&T Corp., Reynolds American, Hanesbrands, and Laboratory Corp. of America.
- VF apparel (11.5 miles) HQ
- BB&T Corp. banking (16.3 miles) HQ
- Reynolds American consumer products (16.3 miles) HQ
- Hanesbrands apparel (20.1 miles) HQ
- Laboratory Corp. of America healthcare services (30.0 miles) HQ
This 1999-vintage, 24-unit asset benefits from solid neighborhood fundamentals and a diversified employment base. Neighborhood occupancy has held in the mid-90s with positive five-year momentum, and the local renter-occupied share near one-third indicates a stable but not oversaturated tenant pool. According to CRE market data from WDSuite, neighborhood rents sit near the metro middle while rent-to-income ratios remain moderate, supporting retention and measured rent growth rather than aggressive pushes.
Within a 3-mile radius, households have increased with further gains projected even as population is expected to be flat to slightly lower, implying smaller household sizes and ongoing renter pool expansion that can support steady absorption. The property s slightly older vintage versus nearby early-2000s stock suggests practical value-add upside via interior modernization and systems planning to sustain competitiveness against newer deliveries.
- Neighborhood occupancy stability supports consistent leasing and income durability.
- Balanced renter concentration offers depth of demand without overexposure to transient turnover.
- 1999 vintage presents value-add potential through targeted interior updates and CapEx.
- Nearby corporate HQs broaden the employment base and sustain renter demand.
- Risk: Safety metrics sit around metro median and below national midpoints; prudent security and underwriting assumptions are warranted.