| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 64th | Best |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1998 Hyde Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1993 |
| Units | 24 |
| Transaction Date | 2014-05-08 |
| Transaction Price | $10,000,000 |
| Buyer | THE MADISON APARTMENTS LLC |
| Seller | HYDE PARK OF GREENVILLE LLC |
1998 Hyde Dr Greenville NC Multifamily—Renter-Driven Opportunity
Strong renter concentration in the surrounding neighborhood supports steady tenant demand, according to WDSuite’s CRE market data, while occupancy trends sit modestly below the metro median and warrant active leasing management.
Located in Greenville’s inner-suburban fabric, the immediate neighborhood scores A+ overall and ranks 1st of 61 metro neighborhoods for amenities, signaling daily convenience that tends to aid retention. Dense food-and-beverage options (restaurant density ranked 2nd of 61) and everyday services such as parks and pharmacies (each ranked 3rd of 61) position the asset competitively among Greenville neighborhoods.
Rents in the neighborhood sit near national mid-range levels, and the local renter-occupied share is high (ranked 7th of 61), indicating a deep base of renter-occupied units for multifamily demand. However, neighborhood occupancy trends are below the metro median, so investors should underwrite to proactive lease-up and renewal strategies rather than assuming metro-leading stabilization.
Within a 3-mile radius, households have increased over the last five years even as total population edged down, pointing to smaller household sizes and a broader leasing pool for multifamily. Looking ahead, WDSuite’s data indicates further growth in households through the forecast period, which should expand the tenant base and support occupancy stability. Median home values in the area are comparatively low versus many U.S. neighborhoods, suggesting some competition from ownership; operators may need to emphasize convenience, amenity access, and professional management to sustain pricing power.
Vintage context: the property was built in 1993, slightly older than the neighborhood’s average construction year (1996). This creates potential value-add and capex planning considerations—select interior refresh, systems modernization, or amenity upgrades can improve relative positioning versus newer stock while maintaining attainable rents.
Safety metrics are competitive for the Greenville metro: the neighborhood’s crime rank is 8th of 61, and WDSuite’s national comparisons place it above the U.S. average for safety. Recent estimates also show year-over-year declines in both violent and property offenses, reinforcing a constructive trajectory without implying block-level certainty.
For underwriting, this translates to supportive conditions relative to many peer areas in the region, though prudent operators should continue standard security, lighting, and community engagement practices and monitor trends alongside citywide patterns.
Nearby anchor employers with verified distances are not available in WDSuite for this address at this time. Investors should consider typical Greenville drivers—education, healthcare, and services—when assessing workforce housing demand and commute convenience.
This 24-unit, 1993-vintage asset benefits from a renter-driven location that ranks among Greenville’s strongest for amenities, supporting day-to-day livability and leasing appeal. According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, so performance will hinge on active leasing and renewal management; that said, a high share of renter-occupied housing indicates depth in the tenant base.
Household counts within 3 miles have grown and are projected to expand further, pointing to a larger renter pool even as household sizes trend smaller. With home values comparatively lower than many U.S. neighborhoods, ownership can compete at the margin; operators can mitigate this by emphasizing professional management, convenience, and amenity access. The 1993 vintage suggests practical value-add through targeted renovations and systems updates to enhance competitive positioning and support durable cash flow.
- Amenity-rich inner-suburb with top-ranked convenience supports retention and leasing momentum.
- High renter-occupied housing share signals a deep tenant base for multifamily demand.
- 3-mile household growth and forecasts indicate a larger renter pool and support for occupancy stability.
- 1993 vintage offers value-add potential via selective interior refresh and systems modernization.
- Risks: occupancy below metro median and competitive homeownership options require proactive leasing and resident retention strategies.