| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 50th | Fair |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2201 E 10th St, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1993 |
| Units | 21 |
| Transaction Date | 2021-09-29 |
| Transaction Price | $3,000,000 |
| Buyer | BROOKRIDGE PROPERTY LLC |
| Seller | S & K WAINRIGHT HOLDINGS LLC |
2201 E 10th St Greenville NC Multifamily Opportunity
Neighborhood data indicates a deep renter pool that supports demand and leasing traction; according to WDSuite’s CRE market data, neighborhood occupancy has trended steadily while maintaining relative affordability.
Located in Greenville’s inner-suburb fabric, the property sits in a neighborhood rated B+ (19 of 61 across the metro), signaling competitive fundamentals compared with the broader market. Amenity access skews toward daily conveniences: groceries and childcare are relatively strong versus metro peers, while parks are a clear highlight, ranking near the top among 61 metro neighborhoods. Dining, cafes, and pharmacies are limited in the immediate area, which may modestly affect walkable lifestyle appeal but has less impact for drive-to tenants.
The neighborhood’s housing stock is relatively modern for the market, with an average construction year of 1995. This 1993-vintage asset is slightly older than the neighborhood norm, creating a straightforward value-add and capital planning angle around unit updates and systems modernization to strengthen competitive positioning against newer comparables.
Renter concentration at the neighborhood level is high (ranked near the top among 61 metro neighborhoods for renter-occupied share), which supports depth of the tenant base for smaller multifamily assets. Neighborhood-level rents benchmark below national averages, reinforcing a value-oriented positioning that can aid lease-up and retention. That said, the neighborhood’s rent-to-income profile suggests some affordability pressure, so disciplined renewals and unit-by-unit upgrade strategies are important for pricing power without elevating turnover risk.
Demographic statistics aggregated within a 3-mile radius point to a large 18–34 cohort and a rising household count despite modest population contraction, implying smaller household sizes and a broader renter pool over time. Forecasts in WDSuite indicate additional household growth through the period, which typically supports occupancy stability and sustained renter demand for well-managed workforce housing near daily services.
Safety trends are mixed but improving. At the neighborhood level, overall crime sits around the national middle, and the area ranks 21 out of 61 metro neighborhoods, indicating it is below the metro median on this measure. Importantly, violent-offense estimates have decreased year over year, placing the neighborhood in a stronger improvement tier compared with many U.S. areas, according to WDSuite’s data.
Investors should evaluate property-level security measures and recent trendlines rather than single-year snapshots, using the neighborhood’s directionally improving indicators as context when underwriting retention assumptions and operating expenses.
This 21-unit, 1993-built property benefits from a renter-heavy neighborhood, below-national rent benchmarks, and proximity to everyday amenities that underpin workforce housing demand. Neighborhood occupancy sits below the metro median but has improved in recent years, suggesting stabilization potential with targeted operations. Based on CRE market data from WDSuite, the area’s household growth within a 3-mile radius and a sizable 18–34 cohort reinforce a broad tenant base for smaller multifamily assets.
The vintage is slightly older than the neighborhood average, offering a practical value-add path through interior refreshes and system updates to sharpen competitiveness against newer stock. While the neighborhood’s rent-to-income profile flags affordability pressure that warrants careful renewal management, its relative cost position supports leasing velocity and tenant retention for renovated units positioned at attainable rents.
- High neighborhood renter-occupied share indicates a deep tenant base supporting leasing stability.
- Below-national rent positioning aids absorption and retention for workforce units.
- 1993 vintage provides clear value-add and capex angles to elevate competitive standing.
- Household growth within 3 miles supports demand depth and occupancy over the medium term.
- Risk: Affordability pressure and neighborhood occupancy below metro median require disciplined pricing and resident retention strategies.