| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 53rd | Fair |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2772 Meridian Dr, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 2006 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2772 Meridian Dr Greenville NC Multifamily Investment
Neighborhood fundamentals point to stable renter demand, with occupancy in this area of Greenville holding in the mid-90s and a high share of renter-occupied housing units supporting a deeper tenant base, according to WDSuite’s CRE market data.
Located in Greenville’s inner suburb fabric, the property benefits from a neighborhood rated B+ and positioned above the metro median for overall performance (rank 20 of 61). Grocery access is a relative strength—both grocery and childcare density sit in the top quartile among 61 Greenville neighborhoods—while restaurants are also top quartile. By contrast, parks, pharmacies, and cafes are limited locally, which places more weight on in-unit and on-site amenities for retention.
The area’s occupancy is competitive—top quartile among 61 metro neighborhoods—with neighborhood occupancy around the mid-90s. A high renter concentration (renter-occupied housing share in the upper band locally) indicates depth of demand for multifamily, which can support leasing velocity and reduce downtime through normal turnover.
Vintage matters for positioning: built in 2006, the asset is newer than the neighborhood’s average 1980s housing stock. That typically improves competitive standing versus older properties, while still warranting targeted capital planning for mid-life systems and selective renovations to maintain pricing power.
Demographic statistics aggregated within a 3-mile radius show households have increased modestly over the past five years despite a slight dip in population, implying smaller household sizes and sustained demand for rental units. Forward-looking estimates point to additional household growth and rising incomes over the next five years, which should expand the renter pool and support occupancy stability. Median contract rents in the neighborhood remain relatively moderate, and a rent-to-income ratio near the mid-teens suggests manageable affordability pressure from an investor perspective, though ownership costs in this market are comparatively accessible and can create some competition for renters considering entry-level ownership.
Safety trends should be viewed in context. This neighborhood sits on the higher-crime side within Greenville (crime rank 26 of 61), and its national safety standing is below average (violent and property crime percentiles are in the lower national ranges). That said, recent year-over-year data indicates meaningful improvement, with double-digit declines in estimated violent and property offense rates, signaling a constructive trend to monitor rather than a resolved condition.
This 72-unit, 2006-vintage property positions ahead of much of the 1980s-era neighborhood stock, which can support competitiveness on finishes, systems, and operations. Neighborhood occupancy runs in the mid-90s and sits in the top quartile among 61 Greenville neighborhoods, and a high share of renter-occupied housing units indicates a broad tenant base. According to CRE market data from WDSuite, local amenities skew toward everyday needs (grocery, childcare, restaurants), which tends to reinforce day-to-day livability for workforce renters.
Three-mile demographics point to a larger household count today and expectations for further household growth, even as household sizes trend smaller—conditions that generally expand the renter pool and support leasing stability. While ownership remains relatively accessible in this market, moderate neighborhood rents and a balanced rent-to-income profile provide room for disciplined revenue management, with value-add potential through selective upgrades typical of mid-2000s assets.
- 2006 vintage outcompetes older local stock; plan targeted mid-life capex for sustained positioning
- Top-quartile neighborhood occupancy and deep renter-occupied housing base support leasing stability
- Everyday amenities (grocery/childcare/restaurants) enhance livability and retention
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Risks: relatively accessible ownership options and area safety levels warrant prudent underwriting and asset management