| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 50th | Fair |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Verdant Dr, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1974 |
| Units | 29 |
| Transaction Date | 2014-02-28 |
| Transaction Price | $2,050,000 |
| Buyer | EWT 56 LLC |
| Seller | RIVERS EDGE WEST LLC |
200 Verdant Dr Greenville NC Multifamily Investment
Neighborhood data points to an established renter base and mid-to-high occupancy in the surrounding area, according to WDSuite’s CRE market data; these metrics reflect the neighborhood, not the property. Renter concentration and steady household growth nearby support demand depth for a 29-unit asset.
Situated in Greenville’s inner-suburb fabric, the property benefits from neighborhood characteristics that are competitive among 61 Greenville neighborhoods for daily needs and open space. Parks density ranks 2 of 61 (top quartile locally and high nationally), while grocery access ranks 14 of 61, offering convenient essentials relative to much of the metro.
Median school ratings in the neighborhood trend toward the lower end (rank 19 of 61; low national percentile), which can influence household mix and leasing strategies for family-oriented units. Childcare availability, however, ranks 9 of 61 and tests well nationally, helping support working renters seeking proximity to services.
The neighborhood’s rental dynamics show an 82.2% share of housing units as renter-occupied, indicating a deep tenant base for multifamily owners. Neighborhood occupancy is in the high‑80% range, suggesting stable but still managerially sensitive operations versus tighter urban cores.
Demographic statistics aggregated within a 3‑mile radius show households have increased in recent years even as population edged down, implying smaller household sizes and sustained renter pool expansion. Forecasts point to additional growth in households and incomes, which can support lease-up and renewal velocity over the medium term.
Vintage considerations matter: the asset’s 1974 construction is older than the neighborhood’s average stock (1995 rank 14 of 61), which highlights value‑add and capital planning opportunities to remain competitive against newer deliveries while positioning for durable cash flow.
Safety indicators sit around the national middle and trend slightly below the metro median for Greenville (rank 21 of 61 indicates relatively higher crime than some suburban peers). Nationally, the neighborhood aligns near the 50th percentile overall, with recent data showing a notable improvement in violent‑offense rates over the last year (an improvement pace that tracks in the top quartile nationally), while property‑offense measures have been relatively steady to modestly higher. Investors should underwrite with standard preventative measures and management oversight rather than block‑level assumptions.
200 Verdant Dr is a 29‑unit, garden‑style asset with larger average floor plans (~845 sq. ft.) positioned in an inner‑suburb node where renter‑occupied housing is prevalent and neighborhood occupancy trends in the high‑80% range. Based on CRE market data from WDSuite, proximity to parks and groceries compares well within the Greenville metro, supporting livability for workforce and student‑adjacent renters, while the 3‑mile area’s household growth and income gains point to a growing tenant base and potential for steady renewals.
Built in 1974, the property is older than much of the nearby stock, creating clear value‑add and modernization angles to enhance rentability versus 1990s‑vintage competitors. Underwriting should account for affordability pressure (roughly 30% neighborhood rent‑to‑income) and the area’s lower school ratings, but the combination of strong renter concentration, serviceable amenities, and improving safety trends supports a constructive long‑term view.
- Deep renter concentration supports demand and lease stability
- Parks and grocery access rank well within Greenville, aiding retention
- 1974 vintage offers value‑add potential to outperform older peers
- 3‑mile household and income growth bolster the future renter pool
- Risks: lower school ratings, mid‑80s neighborhood occupancy, and affordability pressure require active management