| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 54th | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2730 Stantonsburg Rd, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2020-03-27 |
| Transaction Price | $10,625,000 |
| Buyer | WATERFORD PLACE GREENVILLE LLC |
| Seller | HPI WATERFORD I LLC |
2730 Stantonsburg Rd, Greenville NC Multifamily
Steady renter demand in an inner-suburban Greenville location, according to WDSuite’s CRE market data, with neighborhood occupancy tracking above the metro median and a deep renter base that supports leasing durability.
Positioned in an Inner Suburb of Greenville, the property benefits from neighborhood fundamentals that matter to multifamily investors: a renter-occupied share that is among the highest in the metro and neighborhood occupancy in the low 90s, placing it above the metro median among 61 Greenville neighborhoods. This combination points to a sizable tenant pool and supports ongoing leasing stability rather than short-term volatility.
Everyday convenience is reasonable: grocery access ranks 15th of 61 in the metro and pharmacies 9th, while restaurants rank 16th—solid coverage for daily needs—though parks and cafes are limited locally. Average school ratings stand out, ranking 3rd of 61 in Greenville and in the top quartile nationally (average 4.0/5), which can help with retention for family-oriented renters.
Within a 3-mile radius, recent trends show slight population contraction alongside a notable increase in total households and smaller average household sizes. For investors, that mix typically expands the renter pool and supports occupancy as more one- and two-person households seek apartments. Forward-looking projections within the same 3-mile radius anticipate continued household growth, reinforcing demand depth for multifamily.
Ownership costs in the neighborhood are comparatively low versus national benchmarks, which can create some competition with entry-level ownership. Still, the neighborhood’s high renter concentration and above-median occupancy suggest persistent demand for rental units. For underwriting, the local rent-to-income profile indicates manageable affordability pressure; maintaining pricing power will likely depend on asset quality and unit finishes more than on scarcity. This perspective is informed by commercial real estate analysis from WDSuite for the immediate neighborhood, not the property itself.
Safety indicators for the neighborhood are mixed. Relative to neighborhoods nationwide, safety percentiles are lower, and within the Greenville metro the neighborhood ranks 41st of 61 for crime, indicating conditions below the metro average. Recent trend data shows year-over-year improvement in violent and property offense rates, which is constructive but does not eliminate risk. Investors should calibrate operating assumptions to reflect a setting that is improving but still comparatively weaker than higher-ranked Greenville neighborhoods.
This 24-unit, early-2000s multifamily asset sits in a renter-heavy Greenville neighborhood where occupancy is above the metro median and the renter-occupied share is among the highest locally. According to CRE market data from WDSuite, neighborhood amenities favor daily convenience (grocery, pharmacy, restaurants) and school ratings rank near the top of the metro, supporting family-oriented renter retention. Near-term risk centers on a below-metro-average safety profile and limited parks/cafes, but a deep renter base helps sustain leasing.
Three-mile demographics show a modest decline in population but growth in households and smaller household sizes, which typically supports a larger tenant base and steadier absorption of multifamily units. Homeownership remains relatively accessible in the area, which can temper rent growth outperformance; pricing power will hinge on unit quality and management execution rather than scarcity. Overall, the location’s renter depth and occupancy stability present a defensible long-term hold with selective value-add potential focused on finishes and operations.
- Above-metro-median neighborhood occupancy supports leasing stability
- High renter-occupied share indicates deep, durable tenant demand
- Strong school ratings and everyday amenities aid retention
- Household growth within 3 miles expands the renter pool over time
- Risks: below-metro-average safety profile; ownership alternatives can cap pricing power