| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 65th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1217 E Fire Tower Rd, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1997 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1217 E Fire Tower Rd Greenville Multifamily Investment
High renter concentration in the surrounding neighborhood and access to daily-needs retail point to a durable tenant base, according to WDSuite’s CRE market data, while execution on leasing remains important given neighborhood occupancy trends.
Located in an inner-suburb pocket of Greenville, the neighborhood ranks in the top quartile among 61 metro neighborhoods (A rating), signaling competitive fundamentals for multifamily investors. Grocery and pharmacy access are strong relative to both the metro and nation, while restaurants are plentiful; cafes and park space are more limited, which can modestly temper lifestyle appeal.
Neighborhood housing is relatively modern for the market, and the subject’s 1997 vintage positions it slightly newer than the local average (1994). That supports competitive positioning against older stock, though investors should budget for system updates and selective renovations consistent with assets from this era.
The neighborhood shows a high share of renter-occupied units (renter concentration), indicating depth in the tenant base and support for demand across a range of unit types. By contrast, neighborhood occupancy is below the metro median, making leasing and retention practices a key value driver rather than assuming automatic stabilization.
Within a 3-mile radius, household counts have expanded even as population edged lower, pointing to smaller household sizes and a broader pool of renting households; projections indicate continued household growth through 2028, which should support occupancy stability over time. Elevated home values relative to local incomes in the neighborhood context reinforce reliance on rental housing, which can aid lease retention and pricing power for well-managed properties.
Safety performance is mixed in context. Relative to Greenville, the neighborhood’s crime rank (11 out of 61 neighborhoods) indicates crime is elevated compared with many local peers. Nationally, WDSuite’s data places the area around the mid-to-above-average range for safety, suggesting conditions are not outlier-poor in a broader context.
Recent trends are constructive: estimated violent offenses declined sharply year over year, placing the neighborhood in a strong improvement tier nationally, and property offenses also moved lower. For underwriting, this supports a cautiously optimistic view on operating stability while still planning for appropriate security, lighting, and resident engagement measures.
This 20-unit, 1997-vintage asset benefits from a high renter concentration in the surrounding neighborhood and solid daily-needs accessibility, supporting steady tenant demand and retention potential. According to commercial real estate analysis from WDSuite, neighborhood occupancy sits below the metro median, so performance will hinge on leasing discipline, renewal management, and thoughtful renovations rather than assuming frictionless stabilization.
The property’s vintage is slightly newer than the neighborhood average, which helps competitive positioning versus older stock; investors should still plan for modernization of unit interiors and building systems typical for the era. Broader context is favorable: within a 3-mile radius, household counts are rising and are expected to continue increasing, expanding the tenant base over the medium term. At the same time, local NOI per unit trends trail national norms, pointing to the need for conservative underwriting and focus on operational efficiency.
- High neighborhood renter concentration supports depth of demand and renewal potential.
- 1997 vintage offers competitive stance versus older stock, with value-add upside through targeted upgrades.
- Household growth within 3 miles suggests a larger tenant base and supports occupancy stability over time.
- Daily-needs retail access underpins leasing appeal despite limited parks/cafes in the immediate area.
- Risks: neighborhood occupancy below metro median and subpar local NOI per unit trends require disciplined leasing and expense control.