| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 65th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1680 Wimbledon Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 2002 |
| Units | 80 |
| Transaction Date | 2007-06-06 |
| Transaction Price | $63,000 |
| Buyer | TUCKER FARMS INC |
| Seller | TUCKER COMPANY LP |
1680 Wimbledon Dr Greenville Multifamily Investment Snapshot
High renter concentration in the neighborhood supports multifamily demand, while area occupancy trends are more mixed according to WDSuite’s CRE market data.
Located in Greenville’s Inner Suburb, the property sits in a neighborhood rated A and ranked 4th among 61 metro neighborhoods, indicating competitive fundamentals relative to local peers. The submarket shows a deep tenant base, with an estimated 74% of housing units renter-occupied, a share that places the area in the top quartile among 61 metro neighborhoods and signals durable demand for rentals and a broader pool for leasing.
Daily needs access is a strength: grocery availability ranks 3rd of 61 (top quartile locally), and pharmacies and childcare density rank 6th of 61 each. Dining options also perform well (restaurants rank 7th of 61), while parks and cafes are limited within the immediate neighborhood. For investors, this amenity mix suggests convenience that supports retention, even if green space and third‑place options are more limited nearby.
Rents and occupancy in the neighborhood are balanced but not peak: the neighborhood’s occupancy rate trails the metro median, pointing to slightly softer lease-up conditions versus top-performing Greenville areas. At the same time, renter affordability appears manageable, with neighborhood rent-to-income levels indicating room for stable renewals and modest pricing power rather than stress-driven turnover.
Education and demographics add support. The share of residents with a bachelor’s degree ranks 3rd of 61 and sits in the top quartile nationally, which aligns with steady household incomes and spending capacity. Within a 3-mile radius, households have grown even as population edged down, implying smaller household sizes and a gradual expansion of the renter pool; projections through 2028 point to further household growth, which typically underpins occupancy stability for quality assets. Elevated home values locally, alongside a high value-to-income ratio (top decile nationally), reflect a high-cost ownership market that tends to reinforce reliance on multifamily rentals—supporting depth of demand. Where relevant, these points are based on multifamily property research from WDSuite’s CRE market data.
Safety indicators are mixed when viewed across geographies. Compared with Greenville metro peers, the neighborhood’s crime ranking sits in the higher-crime half (ranked 11th among 61 neighborhoods), suggesting investors should underwrite prudent security and operating practices. Nationally, however, the area trends closer to the middle of the pack, with improvement momentum: estimated violent offenses declined sharply year over year and property offenses also eased, according to WDSuite’s CRE market data. These directional shifts are constructive but should be monitored as local conditions can vary by block and over time.
Built in 2002, this 80‑unit asset is newer than the neighborhood’s average vintage and should remain relatively competitive against older local stock, while still warranting planning for mid‑life systems and targeted modernization. The immediate area combines strong renter depth and daily-needs access (top-quartile grocery, childcare, and pharmacy presence locally) with neighborhood occupancy that trails the metro median—an underwriteable risk offset by a large renter base and manageable rent-to-income dynamics that support retention. Elevated ownership costs in the area further sustain renter reliance on multifamily housing. According to CRE market data from WDSuite, educational attainment is high and household growth within a 3‑mile radius is projected to expand the tenant base through 2028, reinforcing long-run demand.
Overall, the thesis favors stabilized demand with potential to enhance performance via targeted capital improvements and disciplined lease management, while acknowledging softer neighborhood occupancy versus top Greenville submarkets and limited nearby parks/cafes as considerations for positioning.
- 2002 vintage offers competitive positioning versus older stock, with clear plans for mid-life system updates
- Strong renter-occupied share signals depth of tenant base and supports leasing stability
- Daily-needs access (top-quartile grocery/childcare/pharmacy locally) aids renewal prospects
- Projected growth in households within 3 miles expands the renter pool and supports occupancy over time
- Risks: neighborhood occupancy below metro median and limited parks/cafes require careful positioning and amenities strategy