| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 55th | Good |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 Harbor Pointe Ln, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1972 |
| Units | 121 |
| Transaction Date | 2014-02-28 |
| Transaction Price | $2,050,000 |
| Buyer | RIVERS EDGE EAST LLC |
| Seller | LAMBE CLARENCE R |
121 Harbor Pointe Ln Greenville Multifamily Investment
The surrounding neighborhood shows a very high renter-occupied share and convenient daily-needs access, supporting steady tenant demand, according to WDSuite’s CRE market data. Neighborhood-level occupancy trends are softer, so active leasing and renewal management will be important.
Positioned in a suburban pocket of Greenville, the property benefits from daily-needs convenience: the neighborhood ranks 1st out of 61 metro neighborhoods for both grocery and pharmacy density, indicating frequent, close-by options for residents. Dining options are competitive (ranked 5th of 61), while parks and cafes are limited locally (both ranked 61st of 61), which may modestly reduce lifestyle appeal for some renters.
Neighborhood-level metrics indicate a renter-oriented area: renter-occupied share is among the highest locally (3rd of 61; 99th percentile nationally), suggesting a deep tenant base and consistent multifamily demand. At the same time, neighborhood occupancy is comparatively soft (ranked 56th of 61 and below national medians), which should be treated as a signal to emphasize leasing execution and renewal retention at the asset level. These statistics describe the neighborhood, not the property’s current occupancy.
Within a 3-mile radius, the population skews younger with a large 18–34 cohort and household counts have grown in recent years despite a modest population dip—pointing to smaller household sizes and a broader renter pool. Looking ahead, WDSuite’s multifamily property research indicates household counts are expected to continue rising as average household size trends lower, supporting demand for rental units and helping stabilize occupancy through cycles.
Income levels in the immediate neighborhood are below the national median, but median asking rents are also comparatively modest, yielding a rent-to-income relationship that can support retention and reduce turnover pressure. For investors, this combination suggests an audience that values attainable rents, with pricing power more likely to come from thoughtful renovations and asset quality rather than outsized mark-to-market jumps.
Safety indicators are mixed but trending positively. Relative to the Greenville metro, the neighborhood’s crime rank (9th of 61) points to higher incident levels than many local peers. However, compared with neighborhoods nationwide, overall safety sits above the national midpoint (58th percentile). Year over year, both violent and property offense rates show notable improvement, placing the area among the stronger improvers nationally (violent offense improvement around the top quartile; property offense improvement comfortably above average), according to CRE market data from WDSuite.
These figures reflect neighborhood-level conditions rather than this specific property, and investors typically account for them via on-site security, lighting, and resident engagement measures to support leasing and retention.
Built in 1972 and totaling 121 units, the asset offers classic-vintage positioning with potential for targeted value-add and systems modernization. The surrounding neighborhood is strongly renter-driven and supported by top-ranked grocery and pharmacy access, which underpins day-to-day livability and broadens the tenant base. Neighborhood occupancy trends are softer, so performance will hinge on leasing execution, renewals, and judicious upgrades that differentiate versus comparable stock. According to CRE market data from WDSuite, the area’s renter concentration and attainable rents support demand stability, with forward household growth within 3 miles pointing to a larger tenant base over time.
For investors, the thesis centers on capturing durable demand at attainable price points while selectively deploying capital to raise unit and common-area appeal. Vintage implies planning for near- to medium-term capital expenditures, but it also creates renovation upside if improvements translate into better retention and measured rent steps without overreaching local affordability.
- Renter-heavy neighborhood supports a deep tenant base and potential occupancy stability.
- Strong daily-needs access (top-ranked groceries and pharmacies locally) enhances livability and leasing.
- 1972 vintage offers value-add potential through targeted renovations and system upgrades.
- Household growth within 3 miles indicates a gradually expanding renter pool over the medium term.
- Risk: neighborhood-level occupancy is soft relative to metro peers, requiring disciplined leasing and retention strategy.