| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 73rd | Best |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1904 Rosemont Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1994 |
| Units | 24 |
| Transaction Date | 2005-05-26 |
| Transaction Price | $675,000 |
| Buyer | TUCKER FARMS INC |
| Seller | ALDRIDGE JEFFREY S |
1904 Rosemont Dr Greenville NC Value-Add Multifamily
Neighborhood occupancy is steady and renter demand is supported by a high share of renter-occupied units in the immediate area, according to WDSuite’s CRE market data. This positioning favors durable tenancy while leaving room for targeted upgrades to drive NOI.
Location, renter depth, and everyday conveniences
The property sits in an Inner Suburb of Greenville ranked 12th out of 61 neighborhoods, placing it in the top quartile locally based on overall neighborhood rating. At the neighborhood level, occupancy is competitive among Greenville neighborhoods, and the share of housing units that are renter-occupied is elevated, indicating a deeper tenant base and potential for steadier lease-up and renewals.
Local livability leans toward everyday necessities over lifestyle retail. Grocery access is competitive among Greenville neighborhoods, while cafes, restaurants, parks, and pharmacies are limited within the immediate neighborhood footprint. For investors, that mix typically supports workforce renters who prioritize convenience and value; it may also concentrate demand for on-site amenities to differentiate product.
Schools rate well (average around 4 out of 5, top quartile nationally), which can enhance retention for family households. Median home values in the neighborhood are elevated for Greenville, which can reinforce reliance on multifamily housing and help sustain rental demand and lease stability.
Within a 3-mile radius, recent data show a modest dip in population alongside an increase in households and smaller average household sizes. Forward-looking projections point to household growth and rising incomes, expanding the renter pool and supporting occupancy stability. Rent-to-income levels appear manageable, suggesting lower affordability pressure and aiding renewal strategies.
Safety context and trend signals
Neighborhood safety metrics are mixed in a way investors should contextualize carefully. The area ranks 2nd out of 61 Greenville neighborhoods on the local crime index (a lower rank indicates higher reported crime relative to the metro), yet it sits around the upper third nationally by percentile, indicating comparatively better conditions than many neighborhoods nationwide. This contrast underscores the importance of underwriting to submarket norms rather than citywide generalizations.
Trend-wise, estimated year-over-year decreases in both violent and property offense rates suggest improving momentum at the neighborhood level. While no single data point should drive underwriting, the directional improvements support a cautiously constructive view when paired with property-level security measures and professional management.
Investment thesis
Built in 1994, this 24-unit asset offers value-add and capital planning opportunities relative to newer nearby stock, with the potential to enhance competitiveness through targeted interior updates and selective common-area improvements. Neighborhood dynamics are favorable: occupancy is competitive among Greenville neighborhoods, renter concentration is high, and household growth within a 3-mile radius points to a larger tenant base over time. According to CRE market data from WDSuite, these fundamentals support steady leasing and give owners flexibility to balance rent growth with retention.
Livability favors everyday necessities—grocery access is solid, while lifestyle retail is limited—which typically aligns with workforce demand and can elevate the role of on-site amenities in absorption and renewals. Elevated neighborhood home values reinforce sustained reliance on multifamily rentals, and rent-to-income levels appear manageable, which can support pricing power without materially increasing turnover risk.
- Competitive neighborhood standing with solid occupancy and a deep renter base supporting demand
- 1994 vintage presents targeted value-add and systems modernization potential
- Household growth and smaller household sizes within 3 miles expand the renter pool and support lease stability
- Everyday-convenience location (stronger grocery access) aligns with workforce renters; on-site amenities can differentiate
- Risks: local crime rank within the metro, limited nearby parks/cafes; underwrite security, amenities, and marketing accordingly