| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 64th | Best |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1928 Exchange Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 2005 |
| Units | 28 |
| Transaction Date | 2021-05-17 |
| Transaction Price | $365,000 |
| Buyer | THE LANDING ECU LLC |
| Seller | PEP ECU LLC |
1928 Exchange Dr, Greenville NC Multifamily Opportunity
Amenity-rich inner-suburb location with a high renter-occupied presence supports steady tenant demand, according to WDSuite s CRE market data. Neighborhood occupancy trends are mid-range, but proximity conveniences and a solid renter base offer durable leasing fundamentals.
Located in Greenville s inner suburbs, the property benefits from one of the metro s strongest amenity concentrations the neighborhood ranks 1st among 61 Greenville neighborhoods for overall amenity access and sits in the top quartile nationally. Dining, cafes, parks, pharmacies, and childcare options are all plentiful within a short drive, a mix that reinforces daily convenience and broad renter appeal.
The 2005 construction is newer than the neighborhood s average vintage (1996). For investors, that positioning typically reduces near-term capital exposure versus older stock while still warranting ongoing system updates and selective modernization to stay competitive with recent deliveries.
Tenure signals are favorable for multifamily: the neighborhood shows a high share of housing units that are renter-occupied (roughly three-quarters), indicating depth in the tenant base and support for lease-up and renewal activity. At the same time, neighborhood occupancy is around the high-80s, suggesting moderate competition and the need for active leasing and retention management.
Within a 3-mile radius, demographics skew younger (a large 18 34 segment) with household counts rising in recent years and forecasts pointing to further household growth alongside smaller average household sizes. That dynamic generally expands the renter pool and supports occupancy stability, even as overall population changes remain mixed. Home values in this area are relatively accessible compared with many U.S. markets, which can create some pricing discipline; however, manageable rent-to-income levels support retention and reduce turnover risk.
Neighborhood safety benchmarks trend modestly above the national median overall, and recent momentum is constructive. Property offenses are estimated to have declined by about 28% year over year, while violent offenses show an even sharper one-year decrease of roughly 36.7%, based on WDSuite s CRE market data. These directional improvements are supportive for renter sentiment and leasing, while still calling for standard property-level security and lighting best practices.
Compared with Greenville s 61 neighborhoods, conditions vary by micro-area, so investors should underwrite to block-by-block management needs. The trend line is a positive input, but it is prudent to budget for routine safety measures consistent with well-run multifamily assets.
1928 Exchange Dr combines a 2005 vintage, larger average unit sizes, and a top-ranked amenity location to target durable renter demand. The neighborhood s renter-occupied concentration and strong convenience profile support leasing, while mid-range occupancy underscores the value of proactive operations to sustain performance. According to CRE market data from WDSuite, household growth within a 3-mile radius and a sizable young-adult cohort expand the tenant base, supporting occupancy stability and renewal rates.
Relative housing costs in the area are more accessible than many U.S. markets, which can temper rent growth outliers but also underpin retention given manageable rent-to-income ratios. The 2005 construction provides competitive positioning versus older stock, with a practical opportunity for selective value-add to refresh finishes, common areas, and building systems as part of a long-term hold strategy.
- Amenity-rich inner-suburb location ranked 1st of 61 in the metro supports broad renter appeal
- High renter-occupied presence indicates depth of tenant demand and renewal potential
- 2005 vintage offers competitive positioning with targeted value-add and systems updates
- 3-mile household growth and younger demographics expand the renter pool and support occupancy stability
- Risk: mid-range neighborhood occupancy suggests active leasing and retention management remain important