| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 65th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1510 Wimbledon Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 2000 |
| Units | 20 |
| Transaction Date | 2017-04-25 |
| Transaction Price | $14,588,500 |
| Buyer | ASSOCIATED APARTMENT INVESTORS |
| Seller | THE POINTE AT WIMBLEDON APARTMENTS I LLC |
1510 Wimbledon Dr Greenville NC 20-Unit Multifamily
Strong renter demand in an inner-suburban pocket with ample daily-needs retail supports leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit below the metro median, but a deep renter base and steady amenities profile suggest operational stability with disciplined management.
The property sits in an Inner Suburb of Greenville, NC where the neighborhood earns an A rating and ranks 4th among 61 metro neighborhoods, placing it in the top quartile locally. Daily-needs access is a differentiator: grocery and pharmacy density are competitive among Greenville neighborhoods and above national norms, while restaurants are plentiful and parks and cafes are limited. For investors, this mix points to convenience-driven livability that can aid retention even without destination amenities.
At the housing level, the neighborhood shows a high share of renter-occupied units (renter concentration), indicating a broad tenant base that can support multifamily demand. However, the neighborhood occupancy rate ranks below the metro median (36th of 61), implying that asset-level leasing strategies and product positioning matter. Renters here face moderate affordability pressure relative to incomes, which warrants active renewal management and pricing discipline.
The asset’s construction year is 2000, newer than the neighborhood’s average vintage (1994). That positioning can be competitive versus older stock, though investors should still plan for system updates and selective modernization to sustain leasing velocity against refreshed comparables.
Demographic statistics within a 3-mile radius show a slight population contraction in recent years alongside an increase in households and smaller average household size. Forward-looking projections indicate continued household growth and rising incomes, expanding the renter pool and supporting occupancy stability. In a high-cost ownership context at the neighborhood level (elevated value-to-income ratio), rental options are likely to remain an essential housing choice, reinforcing multifamily demand. This aligns with observations from WDSuite’s multifamily property research that convenience and attainable rents can underpin steady absorption.
Safety indicators are mixed but improving. The neighborhood’s crime ranking sits 11th of 61 Greenville neighborhoods, which is below the metro average for safety. Nationally, overall conditions trend around the middle to slightly above average by percentile measures, and recent data shows year-over-year declines in both property and violent offenses, suggesting constructive momentum. As always, investors should underwrite security measures and monitor sub-area trends rather than block-level assumptions.
Proximity to area employment centers supports workforce housing demand and commute convenience for renters in this inner-suburban location.
1510 Wimbledon Dr offers a 20-unit footprint in a top-quartile Greenville neighborhood where daily-needs access and a deep renter base underpin demand. According to CRE market data from WDSuite, neighborhood occupancy trends are below the metro median, so execution and product relevance remain important, but elevated ownership costs locally and growing households within a 3-mile radius support a stable tenant pipeline.
The 2000 vintage is newer than the area’s average stock, providing a competitive baseline relative to older assets. Targeted updates and amenity refreshes can enhance positioning as nearby properties modernize. With restaurants and essential retail nearby but limited parks and cafes, the value proposition leans on convenience and attainable rents rather than destination lifestyle—an approach that can sustain absorption and renewals with careful lease management.
- Top-quartile neighborhood standing in Greenville with strong daily-needs access and restaurant density
- High renter concentration supports a deep tenant base and leasing durability
- 2000 vintage offers competitive positioning versus older stock; selective modernization can drive rent capture
- 3-mile household growth and rising incomes expand the renter pool and support occupancy stability
- Risk: neighborhood occupancy ranks below the metro median—execution, pricing, and renewals are key