| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 65th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2005 Tower Pl, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1994 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2005 Tower Pl Greenville Multifamily Investment
Renter demand is reinforced by a high renter-occupied share in the immediate neighborhood and strong daily-needs access, according to WDSuite s CRE market data. Occupancy runs below the national midpoint, suggesting room for operational upside with focused leasing and retention.
The property sits in an Inner Suburb of Greenville, NC with an A-rated neighborhood that ranks 4 out of 61 metro neighborhoods, indicating competitive fundamentals within the metro. Daily-needs coverage is a strength: grocery and pharmacy availability rank near the top of 61 local neighborhoods and land in high national percentiles, while restaurants are also well represented. Parks and cafes are limited nearby, which may modestly reduce lifestyle appeal for some renters.
Neighborhood occupancy is 89.3%, which is below the national median (42nd percentile), pointing to potential lease-up or retention opportunities for capable operators. The renter-occupied share is elevated at roughly three-quarters of housing units (98th percentile nationally), signaling a deep tenant base and durable demand for multifamily product in this microlocation.
Within a 3-mile radius, households increased while population edged down over the past five years, implying smaller household sizes and a broader pool of household formations entering the rental market. Looking forward, forecasts point to notable growth in households by 2028 alongside higher incomes, which supports absorption and rent rolls. Median contract rents in the 3-mile radius remain accessible relative to incomes, which can aid renewal rates and occupancy stability.
Home values in the neighborhood are elevated relative to local incomes (high national percentile on value-to-income), creating a high-cost ownership market that sustains reliance on rental housing. For investors, that dynamic can underpin tenant retention and pricing power, though it also necessitates attentive lease management to mitigate affordability pressure.
Safety indicators are mixed and should be evaluated in context. The neighborhood s crime rank is 11 out of 61 Greenville-area neighborhoods, indicating higher incident levels relative to much of the metro. At the same time, it performs modestly better than the national average (around the mid-to-upper national percentiles), and recent trends show momentum: violent offenses declined sharply year over year and property offenses also decreased, based on WDSuite s CRE market data.
Investors should focus on building-level controls and tenant screening to manage on-site risk, while noting that the downward trajectory in both violent and property offenses reflects improving conditions versus the prior year.
This 20-unit asset in Greenville s A-rated Inner Suburb benefits from a pronounced renter orientation and strong proximity to daily-needs retail. Neighborhood occupancy sits below the national midpoint, which can provide operational upside for owners who execute on leasing, renewals, and turn efficiency. Elevated home values relative to income point to a sustained renter pool rather than a near-term pivot to ownership, reinforcing demand resilience for well-managed multifamily.
According to CRE market data from WDSuite, the neighborhood ranks competitively within the Greenville metro on overall fundamentals, with grocery, pharmacy, and restaurant coverage outperforming many peers. Within a 3-mile radius, households have grown and are projected to expand further, supporting a larger tenant base and steadier absorption while smaller average household sizes can increase demand for smaller floor plans.
- High renter-occupied concentration supports deep tenant demand and leasing durability
- Strong daily-needs access (grocery, pharmacy, restaurants) aids retention and rent collections
- Household growth within 3 miles expands the renter pool and supports occupancy stability
- Below-median neighborhood occupancy offers value-creation via leasing and renewal strategies
- Risk: Local crime ranks higher than many Greenville neighborhoods; active property management and safety measures remain important