| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 65th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1633 Wimbledon Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 2006 |
| Units | 56 |
| Transaction Date | 2006-08-09 |
| Transaction Price | $520,000 |
| Buyer | THE TUCKER CO L P |
| Seller | TUCKER FARMS INC |
1633 Wimbledon Dr, Greenville NC Multifamily Investment
Stabilized renter demand is supported by a high neighborhood renter-occupied share and solid daily-needs access, according to WDSuite’s CRE market data. Built in 2006, the asset competes well versus older nearby stock while leaving room for targeted modernization.
The property sits in an Inner Suburb pocket of Greenville rated A and ranked 4th among 61 metro neighborhoods, indicating strong overall fundamentals for investors. Neighborhood occupancy is measured at the neighborhood level and currently sits below the metro median (ranked 36 of 61), so asset-level leasing strategy and concessions management matter for maintaining stability.
Daily-needs access is a relative strength: grocery options rank 3rd of 61 and pharmacies 6th of 61, placing both in the top quartile metro-wide. Restaurants also rank 7th of 61, supporting convenience for residents. By contrast, cafes and parks rank 61st of 61, a local amenity gap to consider in resident retention programming.
Tenure patterns signal depth in the renter base: approximately 74% of housing units in the neighborhood are renter-occupied (top national percentile), which typically supports consistent multifamily demand and leasing velocity. Median contract rents at the neighborhood level align with a rent-to-income ratio near 0.20, suggesting manageable affordability pressure and potential for disciplined pricing power, subject to asset positioning.
Construction vintage also favors competitive positioning: the asset’s 2006 delivery is newer than the neighborhood’s average year built of 1994. This typically reduces near-term capital exposure relative to older stock, though investors should still plan for aging systems and selective upgrades to sustain performance.
Within a 3-mile radius, recent population trends were flat to slightly negative, but households increased and are projected to grow further, indicating smaller household sizes and a potential renter pool expansion. Forecasts show population and household growth through 2028 alongside rising household incomes, which can support occupancy stability and rent growth for well-managed assets. Elevated home values locally (with a value-to-income ratio in the top decile nationally) point to a high-cost ownership market that tends to reinforce reliance on multifamily rentals, a useful demand backdrop for investors conducting commercial real estate analysis.
Safety conditions should be framed comparatively. The neighborhood’s crime standing ranks 11th of 61 within the Greenville metro, indicating relatively higher crime levels than many local peers. Nationally, however, the area sits around the mid-to-above-average range (57th percentile), suggesting it compares more favorably versus many U.S. neighborhoods.
Recent trend data underscores improvement: estimated violent offense rates declined sharply year over year and property offenses also moved lower. While block-level conditions can vary and on-the-ground diligence remains essential, the directional trends provide a constructive backdrop for operations and resident retention.
This 56-unit 2006-vintage asset benefits from strong neighborhood fundamentals and a renter-driven housing base. Daily-needs access is a clear advantage (top-quartile groceries/pharmacies/restaurants within the metro), and elevated ownership costs locally help sustain multifamily demand and lease retention. Neighborhood occupancy is measured at the neighborhood level and sits below the metro median, so disciplined leasing and asset-level differentiation remain important. Based on CRE market data from WDSuite, the property’s vintage positions it competitively versus older stock while leaving room for targeted value-add to maintain relevance as systems age.
Within a 3-mile radius, households are expanding and are projected to continue growing even as average household size declines—trends that typically broaden the tenant base and support occupancy stability. Income growth and a moderate rent-to-income profile at the neighborhood level suggest manageable affordability pressure, which can support steady collections when paired with prudent lease management.
- Renter-centric location with high renter-occupied share supporting demand depth and leasing velocity.
- 2006 construction offers competitive positioning versus older stock with selective modernization upside.
- Strong daily-needs access (top-quartile groceries/pharmacies/restaurants) aids resident convenience and retention.
- High-cost ownership market reinforces reliance on rentals, supporting pricing power and occupancy stability.
- Risks: neighborhood occupancy below metro median and locally higher crime rank than many peers—mitigated by improving safety trends and active management.