| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 73rd | Best |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1906 Rosemont Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1994 |
| Units | 24 |
| Transaction Date | 2018-02-12 |
| Transaction Price | $915,000 |
| Buyer | KENSINGTON INC |
| Seller | Y ASK Y INC |
1906 Rosemont Dr, Greenville NC Multifamily Investment
Stabilized renter demand in an inner-suburban pocket with a strong renter-occupied base points to steady leasing and retention, according to WDSuite’s CRE market data. Neighborhood occupancy trends and household growth nearby suggest durable cash flow with measured upside rather than outsized volatility.
Located in Greenville’s Inner Suburb, the surrounding neighborhood is competitive among Greenville neighborhoods (ranked 12 out of 61) with an A- neighborhood rating. Neighborhood occupancy is 92.1%, indicating generally steady leasing dynamics that support income stability for well-managed assets.
Schools in the area trend strong for the metro, with an average rating of 4.0 and performance in the top quartile nationally, which can bolster long-term renter appeal for family-oriented households. Amenity density is mixed: childcare access ranks well within the metro, while dining and cafes are limited within the immediate neighborhood, suggesting residents rely on broader trade-area amenities for variety.
The renter-occupied share of housing units is 56.9%, signaling a deep tenant base and consistent multifamily demand. Median home values in the neighborhood are elevated relative to many U.S. areas, which tends to sustain reliance on rental housing and can support pricing power while balancing lease management around affordability. The neighborhood’s rent-to-income ratio sits at a low level, which can reduce affordability pressure and aid retention.
Within a 3-mile radius, households grew over the past five years and are projected to increase further, even as average household size trends smaller. This combination typically expands the renter pool and supports occupancy stability for professionally operated assets. These patterns reflect broader commercial real estate analysis themes seen locally and nationally, based on market context from WDSuite.
Safety metrics show a nuanced picture. Compared with Greenville’s 61 neighborhoods, the area’s crime rank indicates elevated incident rates relative to the metro (ranked 2 out of 61). Yet in national terms it performs above average, with safety in a higher percentile than many neighborhoods nationwide.
Recent momentum is constructive: estimated violent offense and property offense rates both decreased year over year (approximately -42% and -28.6%, respectively). For investors, this trend perspective can matter more than a single snapshot, but prudent underwriting should still account for submarket variability block-to-block and align security measures with resident expectations.
This 24-unit property built in 1994 is slightly older than the nearby average vintage, creating a straightforward value-add path via targeted renovations and systems updates while remaining competitive on unit livability. Neighborhood fundamentals are supportive: occupancy is 92.1% and the renter-occupied share is 56.9%, indicating a sizable tenant base and potential for steady leasing. Within a 3-mile radius, households increased over the past five years and are projected to expand further, pointing to a larger tenant base and supportive demand. According to CRE market data from WDSuite, the area’s home values are relatively elevated, which can reinforce sustained rental demand and pricing resilience when paired with disciplined lease management.
Risk is balanced by trajectory: national-comparison safety indicators are above average and recent declines in estimated violent and property offenses provide a favorable trend, though the submarket ranks weaker on a metro basis and warrants ongoing monitoring. Amenity density is thinner for restaurants and cafes nearby, so marketing may emphasize access to broader trade-area nodes and strong schools to support resident retention.
- 1994 vintage offers clear value-add and capex planning opportunities versus newer local stock.
- 92.1% neighborhood occupancy and 56.9% renter-occupied share support demand depth and leasing stability.
- 3-mile household growth and projected expansion suggest a growing tenant base and support for future absorption.
- Elevated ownership costs locally can sustain multifamily demand and reinforce pricing power with prudent affordability management.
- Risks: metro-relative safety ranking and limited immediate dining amenities require active management, resident engagement, and targeted security/marketing.