| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 53rd | Fair |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2774 Meridian Dr, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 2006 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2774 Meridian Dr Greenville NC Multifamily Investment
Neighborhood occupancy in the mid-90s and a high share of renter-occupied units point to steady leasing fundamentals, according to WDSuite s CRE market data.
Positioned in Greenville s inner-suburb fabric, the property benefits from a renter-driven neighborhood profile and stable occupancy. The neighborhood s occupancy rate ranks 15 out of 61 metro neighborhoods, indicating performance that is competitive among Greenville neighborhoods and above the metro median. With 76% of housing units renter-occupied in the neighborhood, the tenant base is deep, which generally supports demand stability and reduces lease-up risk for multifamily assets.
Amenity access skews practical rather than lifestyle-oriented. Grocery availability ranks 12 of 61 locally and sits in a higher national percentile, while restaurants trend above national medians; by contrast, cafes and parks are limited nearby. For investors, this points to day-to-day convenience for residents with fewer discretionary amenity draws, a setup consistent with workforce-oriented demand profiles.
Vintage matters here: built in 2006 versus a neighborhood average stock from the mid-1980s, this asset is newer than much of the local inventory. That positioning can enhance competitiveness against older comparables, though planning for system refreshes and selective renovations remains prudent over the hold period.
Within a 3-mile radius, demographics show a modest contraction in population over the past five years alongside growth in household counts and a smaller average household size. This combination typically expands the renter pool and supports occupancy stability, with forecast data indicating additional households over the next five years. Median contract rents in the area remain moderate relative to incomes, which can balance pricing power with retention considerations as leasing strategies evolve.
Safety signals are mixed. The neighborhood s crime rank is 26 out of 61 within the Greenville metro, placing it below the metro median for safety. Nationally, indicators align closer to the lower half; however, recent data shows improvement trends, including a notable year-over-year decline in estimated violent offenses and a modest decline in property offenses. These trends suggest conditions have been improving even if the area remains more sensitive than higher-ranked Greenville submarkets.
Investors should frame underwriting with comparative context emphasizing property-level controls and resident experience while noting that recent trendlines point to incremental gains rather than definitive shifts.
2774 Meridian Dr is a mid-sized, 74-unit 2006-vintage asset positioned in a renter-heavy inner-suburban pocket of Greenville. Neighborhood occupancy ranks above the metro median, and the local share of renter-occupied housing indicates a broad tenant base that can support stable leasing. According to CRE market data from WDSuite, the asset s newer vintage versus much of the surrounding stock can bolster its competitive standing while still offering targeted value-add potential through unit and common-area updates.
Within a 3-mile radius, households have increased even as population edged down, implying smaller household sizes and a larger pool of renters entering the market. Ownership costs in the area are moderate by national standards, which supports retention while still allowing for disciplined rent growth strategies. Near-term risk centers on neighborhood safety benchmarks that trail higher-ranked Greenville areas, although recent improvement trends warrant monitoring rather than alarm.
- Competitive occupancy and high renter concentration support leasing stability
- 2006 vintage outcompetes older local stock with selective renovation upside
- 3-mile household growth and smaller household sizes expand the renter pool
- Moderate ownership costs reinforce multifamily reliance and retention
- Risk: area safety ranks below metro median despite recent improvement trends