| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 54th | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2609 MacGregor Downs Rd, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | 2015-02-05 |
| Transaction Price | $995,000 |
| Buyer | VERITY INVESTMENT PROPERTIES LLC |
| Seller | RBANNCO LLC |
2609 MacGregor Downs Rd Greenville Multifamily Investment
Neighborhood occupancy around this address trends stable and slightly above national norms, according to WDSuite’s CRE market data, supporting consistent leasing conditions for a 20-unit asset. These metrics reflect the surrounding neighborhood rather than the property itself.
Located in Greenville’s Inner Suburb, the area around 2609 MacGregor Downs Rd shows balanced fundamentals that matter to multifamily investors: neighborhood occupancy is reported at 91.9% (neighborhood-level), which sits just above the national median per WDSuite, indicating generally steady renter demand rather than late-cycle softness.
Household dynamics within a 3-mile radius point to a durable tenant base: renter-occupied share is elevated, and households have increased even as average household size has edged lower. This typically broadens the pool of prospective renters and helps support occupancy stability and lease retention.
Daily-life amenities are serviceable for workforce renters. Grocery and pharmacy access rank competitively within the metro, while restaurants are present though not dense; cafes and parks are sparse. The neighborhood’s average school rating is strong relative to peers (top quartile nationally), which can enhance location stickiness for households.
Ownership costs locally are comparatively accessible versus many U.S. markets, which can introduce some competition from entry-level ownership. Even so, elevated renter concentration in the 3-mile trade area supports depth of demand for multifamily units and can moderate turnover risk when managed with disciplined pricing and renewals.
The property’s 1990 vintage skews older than the surrounding neighborhood’s newer housing stock. Investors should underwrite for selective capital improvements or value-add updates to maintain competitiveness against 2000s-era comparables and to capture repositioning upside.
Safety indicators for the neighborhood are mixed relative to the Greenville metro and national landscape. Compared with 61 metro neighborhoods, this area trends below the metro average for safety, and sits below the national median. However, recent WDSuite readings note year-over-year declines in both violent and property offense rates, suggesting improving momentum even if absolute levels still warrant prudent operating practices.
For investors, this implies underwriting for standard security measures and tenant screening, while recognizing that recent downtrends may support leasing stability if they persist. As always, crime dynamics vary within neighborhoods; these figures reflect broader neighborhood trends rather than block-level conditions.
This 20-unit, 1990-vintage asset sits in a neighborhood with steady renter demand and occupancy that tracks slightly above national norms. Within a 3-mile radius, a high share of renter-occupied housing and growth in household counts point to a larger tenant base over time, supporting lease-up and renewal strategies. The older vintage versus the area’s 2000s-era stock suggests targeted value-add or systems upgrades could enhance competitive positioning and rent capture.
According to CRE market data from WDSuite, neighborhood-level amenities are functional for daily needs, schools compare well nationally, and safety metrics—while below metro average—have improved year over year. Underwriting should balance these strengths with prudent allowances for capital planning and conservative rent growth where ownership options may be comparatively accessible.
- Stable neighborhood occupancy supports consistent leasing and retention
- High renter concentration within 3 miles deepens the tenant pool
- 1990 vintage offers clear value-add and modernization opportunities
- Functional amenities and strong school ratings aid location stickiness
- Risks: safety remains below metro average and accessible ownership may temper pricing power