| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 65th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1209 E Fire Tower Rd, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1996 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1209 E Fire Tower Rd Greenville NC Multifamily Investment
Inner-suburban setting with a deep renter-occupied housing base supports steady tenant demand, according to WDSuite’s CRE market data, while neighborhood occupancy sits around the national middle with strong access to daily-needs retail.
Situated in Greenville’s inner suburbs, the asset is in a neighborhood rated A and ranked 4 out of 61 metro neighborhoods, signaling competitive fundamentals compared with most of the metro. Daily-needs access is a relative strength: grocery availability ranks 3 of 61, with pharmacies and childcare also among the stronger concentrations locally. These factors can support resident retention and day-to-day convenience.
Renter concentration is high (ranked 9 of 61 by share of renter-occupied units and in the 98th percentile nationally), indicating depth in the tenant base for multifamily. By contrast, neighborhood occupancy is below the metro median (ranked 36 of 61 and near the national middle), so leasing should be approached with competitive positioning rather than expectations of outsized pricing power.
Within a 3-mile radius, households increased over the past five years while average household size declined, expanding the pool of prospective renters even as population edged down. Projections through 2028 indicate additional household growth and smaller average household sizes, both of which typically support renter pool expansion, absorption, and occupancy stability.
Home values are modestly above national norms (64th percentile), and the value-to-income ratio ranks 2 of 61 in the metro and in the 90th percentile nationally—signaling a relatively high-cost ownership market. For investors, elevated ownership costs tend to sustain reliance on rental housing, supporting lease retention and consistent leasing velocity.
Amenity mix is balanced but not uniform: restaurants are comparatively dense (7 of 61; 81st percentile nationally), while parks and cafés are limited. This points to strong day-to-day convenience, with some lifestyle amenities requiring a longer trip.
Neighborhood vintage skews mid-1990s (average 1994). With a 1996 construction year, the property is slightly newer than the local average, which can confer a competitive edge versus older stock; investors should still plan for modernization and system updates typical of late-1990s construction to sustain rentability.
Safety indicators are mixed but trending in a positive direction. The neighborhood’s crime rank is 11 out of 61 Greenville metro neighborhoods, indicating higher relative crime levels within the metro, while nationally it sits slightly safer than average (57th percentile). Recent year-over-year estimates show meaningful declines in violent offenses and a reduction in property offenses, based on CRE market data from WDSuite.
For underwriting, this suggests conditions near the national middle but uneven within the metro context. On-site measures—lighting, controlled access, and active management—can help support retention and leasing performance in similar neighborhoods.
Workforce demand in the broader Greenville area is driven by healthcare, education, and services employers within typical commuting range, which can support stable renter demand for workforce-oriented multifamily. Specific nearby employer distances were not available for this brief.
This 1996-vintage, garden-scale multifamily sits in an inner-suburban neighborhood with strong renter concentration and convenient daily-needs access. Neighborhood occupancy trends near the national middle—suggesting steady but competitive leasing—while the high share of renter-occupied housing indicates depth of the tenant base. Within a 3-mile radius, household growth alongside smaller household sizes points to a larger renter pool over time. According to CRE market data from WDSuite, ownership costs are relatively high versus incomes locally, which can sustain reliance on rentals and support retention.
Being slightly newer than the neighborhood average vintage offers relative competitiveness versus older stock, though investors should plan targeted modernization to maintain positioning. Amenity access supports livability, while limited parks/cafés and metro-relative safety considerations call for thoughtful on-site management.
- High renter-occupied share signals a deep tenant base supporting demand and occupancy
- Strong daily-needs access (grocery, pharmacy, childcare) supports resident retention
- Ownership costs relatively high versus incomes reinforce reliance on rental housing
- 1996 vintage offers light value-add and systems modernization potential to enhance competitiveness
- Risks: occupancy below the metro median and limited parks/cafés; proactive management and amenity programming recommended