| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 83rd | Best |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 718 Westchester Dr, High Point, NC, 27262, US |
| Region / Metro | High Point |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2020-11-05 |
| Transaction Price | $14,600,000 |
| Buyer | WESTCHESTER KEY APARTMENTS LLC |
| Seller | HIGH POINT 85 ASSOCIATES LP |
718 Westchester Dr, High Point NC — 20-Unit Value-Add Multifamily
Stabilized renter demand and modest rent-to-income levels suggest steady leasing fundamentals, according to WDSuite’s CRE market data. A 1972 vintage points to practical renovation and systems upgrades that can unlock operational upside.
Located in High Point’s inner-suburban fabric, the immediate neighborhood carries an A- rating and ranks 40 out of 245 within the Greensboro–High Point metro—competitive among metro neighborhoods. Local occupancy in the surrounding neighborhood is in the high 80s and has softened slightly over five years, indicating a leasing environment where thoughtful management and unit positioning matter.
Daily needs are reasonably served by grocery and dining access (both above many metro peers), while parks, cafes, and pharmacies are limited within the neighborhood itself. This mix supports convenience-driven renters but suggests on-site amenities and curb appeal can further differentiate the asset.
Renter-occupied housing accounts for roughly one-third of neighborhood units, signaling a measurable but not saturated tenant base for small-midsize multifamily. With a rent-to-income ratio near 12% and median contract rents below many national peers, pricing power will hinge on maintaining affordability and retention rather than aggressive mark-to-market. Home values are moderate for the region, which can create some competition from ownership options, so emphasizing quality finishes and reliable operations can sustain leasing velocity.
Within a 3-mile radius, population and household counts have grown, and forecasts point to continued renter pool expansion over the next five years. Household sizes are trending smaller and incomes have risen meaningfully, supporting demand for well-managed, smaller-format units like studios and one-bedrooms. These dynamics, based on commercial real estate analysis from WDSuite, align with a strategy focused on high-utility renovations and consistent resident experience.
Safety indicators here trend below national percentiles, with the neighborhood performing weaker than many areas nationwide on both property and violent offense metrics. Compared with 245 Greensboro–High Point neighborhoods, the area sits in the lower half of metro rankings, signaling that security-aware asset management remains important.
Recent data show mixed momentum: estimated property offense rates have edged down year over year, while violent offense estimates increased. Investors typically account for these patterns through lighting, access control, and community standards aligned to the submarket context, and by underwriting realistic insurance and operating assumptions.
Regional employment is anchored by a cluster of corporate headquarters within commuting range, supporting renter demand through diversified office, apparel, banking, and healthcare administration roles. The following employers are most relevant to daily commuting patterns from this location.
- BB&T Corp. — banking (14.4 miles) — HQ
- Reynolds American — consumer products (14.5 miles) — HQ
- VF — apparel (16.6 miles) — HQ
- Hanesbrands — apparel (19.5 miles) — HQ
- Laboratory Corp. of America — healthcare services (34.4 miles) — HQ
This 20-unit asset (built 1972) is older than the neighborhood’s average stock, creating a straightforward value-add path through interior refresh, energy-efficiency upgrades, and systems modernization. Neighborhood rents and a rent-to-income profile near 12% point to manageable affordability pressure, which can support retention and steady occupancy when paired with service-forward operations. According to CRE market data from WDSuite, the submarket’s renter concentration is meaningful but not saturated, so positioning on livability and reliability is key over pure rent growth.
Within a 3-mile radius, households have increased and are projected to continue rising, with smaller average household sizes and higher incomes supporting demand for efficient floor plans. While neighborhood occupancy has eased in recent years and safety metrics trail national percentiles, the combination of practical upgrades and disciplined leasing can keep the asset competitive against both rental peers and relatively accessible ownership options.
- 1972 vintage supports value-add through interior updates and building systems planning.
- Manageable rent-to-income levels favor retention and steady leasing with service-focused operations.
- 3-mile household growth and rising incomes expand the tenant base for smaller units.
- Risks: neighborhood safety ranks below national percentiles and occupancy has softened; underwriting should reflect security measures and conservative lease-up.