| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 55th | Good |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1801 SE Greenville Blvd, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2009-07-29 |
| Transaction Price | $1,455,714 |
| Buyer | S&K WAINRIGHT HOLDINGS LLC |
| Seller | CHEYENNE COURT INC |
1801 SE Greenville Blvd Greenville NC Multifamily Investment
Neighborhood renter-occupied housing is the majority, supporting a deeper tenant base, while occupancy in the surrounding neighborhood has held in the mid-80s; according to WDSuite’s CRE market data, these dynamics point to durable demand with room for operational upside.
Positioned in Greenville’s inner-suburban fabric, the neighborhood offers daily convenience anchored by strong access to groceries, pharmacies, and parks. Amenity access ranks 10 out of 61 metro neighborhoods and sits around the national middle, with groceries and restaurants outperforming typical suburban nodes, while cafes and childcare are sparser. For investors, this mix supports day-to-day livability and resident retention without paying a premium for boutique retail.
Neighborhood schools average a 3.0 out of 5 and rank 9 of 61 within the metro, placing the area above many Greenville peers and modestly above national norms. This helps broaden the renter profile beyond pure student demand, which can aid stability across leasing cycles.
The share of housing units that are renter-occupied is elevated (ranked 18 of 61; high national percentile), signaling a large and reliable multifamily renter pool. In parallel, the neighborhood’s occupancy rate is reported at 87.1% (ranked 42 of 61), suggesting room for leasing execution to drive NOI while still benefiting from a demand base oriented toward rentals.
Within a 3-mile radius, population has edged down slightly over five years while household counts have increased, indicating smaller average household sizes and a broader base of potential renters. Forward-looking estimates point to continued growth in households, which can support occupancy stability and steady absorption as units turn.
Home values in the neighborhood are relatively accessible for the region, and rent-to-income levels indicate manageable affordability pressure. That context can support lease retention and measured pricing power rather than outsized turnover, aligning with investors seeking stable performance over flashy peaks.
Safety trends are mixed when viewed locally versus nationally. Within the Greenville metro, the neighborhood’s crime rank is 12 out of 61 (lower ranks indicate higher crime), so it compares less favorably to many nearby neighborhoods. Nationally, however, the area sits modestly above the median. For investors, this suggests underwriting should incorporate thoughtful security measures and operating practices typical for inner-suburban assets.
Recent trend data points to improvement: estimated violent offense rates declined sharply year over year, and property offenses also moved lower. These directional shifts, while not a guarantee, are constructive for long-term leasing stability and should be monitored in ongoing asset management.
This 20-unit asset benefits from an inner-suburban location with strong daily-needs coverage (notably groceries, pharmacies, parks) and a renter-leaning housing stock that supports a deeper tenant pool. Neighborhood occupancy near the mid-80s indicates operational upside through leasing execution, while household growth in the 3-mile radius expands the potential renter base and supports ongoing absorption. Based on CRE market data from WDSuite, neighborhood rents and rent-to-income readings suggest manageable affordability pressure, which can aid retention and reduce churn.
Local school performance sits above many Greenville peers, broadening demand beyond transient cohorts and reinforcing stability through varied life stages. While the neighborhood’s metro-relative crime standing warrants prudent on-site management, recent downward movement in both violent and property offenses is a constructive trend to track during hold.
- Renter-occupied housing share is high, supporting durable multifamily demand and a wider leasing funnel.
- Daily-needs amenities (grocery, pharmacy, parks) help sustain retention and reduce friction in leasing.
- Neighborhood occupancy near the mid-80s offers room for NOI growth through focused leasing and renewals.
- 3-mile household growth and smaller household sizes point to a larger renter pool over time.
- Risk: Metro-relative crime rank requires proactive security and asset management, despite recent improving trends.