| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 65th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1627 Wimbledon Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 2006 |
| Units | 46 |
| Transaction Date | 2006-12-19 |
| Transaction Price | $1,257,000 |
| Buyer | TUCKER CO LP |
| Seller | TUCKER FARMS INC |
1627 Wimbledon Dr Greenville, NC Multifamily Investment
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and a newer 2006 vintage that competes well against older local stock, according to WDSuite’s CRE market data. Stable workforce fundamentals and proximity to daily-needs retail point to steady leasing potential.
The property sits in an Inner Suburb of Greenville with strong daily-needs access. Grocery and pharmacy density rank near the top among 61 metro neighborhoods and test in the low 90s nationally, while restaurants are similarly plentiful. Parks and cafes are sparse, so lifestyle appeal leans more toward convenience than green space or café culture.
The asset’s 2006 construction is newer than the neighborhood’s average 1994 vintage. This positioning can enhance competitiveness versus older comparables, though investors should plan for mid-life system updates and potential common-area modernization to maintain leasing velocity.
Neighborhood occupancy is below the metro median (ranked 36 of 61), but renter concentration is high, with a large share of housing units renter-occupied (ranked 9 of 61 and top percentile nationally). For multifamily owners, that depth of renter households supports a larger tenant base and can help stabilize occupancy during routine turnover.
Within a 3-mile radius, households have expanded even as average household size trends lower, and forecasts point to additional household growth alongside a modest increase in population. Smaller household sizes typically translate to more renters entering the market, which can support absorption and retention. Median home values are elevated relative to local incomes (high value-to-income standing in the metro and top decile nationally), reinforcing reliance on rental housing and supporting pricing power over the cycle. Neighborhood median contract rents sit below national midpoints, which helps manage affordability pressure for tenants and can aid lease management.
Safety indicators are mixed. Compared with 61 Greenville neighborhoods, the area sits on the higher-incident side (crime rank 11 of 61, where a lower rank indicates more reported incidents). At the national level, it performs modestly better than average overall (around the 57th percentile for safety), and recent estimates show notable year-over-year declines in violent offenses alongside improvement in property incidents. Investors should underwrite with standard security, lighting, and access-control measures typical for workforce suburban assets.
This 46-unit, 2006-vintage asset offers competitive positioning in an Inner Suburb where daily-needs retail is strong and renter demand is deep. The building’s newer vintage versus the neighborhood average provides a relative edge against older stock, while mid-life systems may warrant targeted capital to sustain curb appeal and leasing momentum. According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, but the renter-occupied share is high, indicating a broad tenant base. Elevated ownership costs versus local incomes further support reliance on rental housing, aiding rent durability and retention.
Demographic signals aggregated within a 3-mile radius suggest increasing household counts and smaller household sizes over the next several years, which typically supports multifamily absorption and occupancy stability. With neighborhood-level rents positioned below national midpoints, the submarket retains a value-oriented appeal that can balance pricing power with lease management and renewal strategies.
- 2006 vintage out-competes older local stock; plan for mid-life upgrades to sustain performance
- High renter-occupied share signals a deep tenant base and durable multifamily demand
- Strong daily-needs access (groceries, pharmacies, restaurants) supports leasing and retention
- Elevated ownership costs versus incomes reinforce rental reliance and pricing discipline
- Risks: neighborhood occupancy below metro median and mixed safety metrics; assume prudent operating and security measures