| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 43rd | Fair |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 E 12th St, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1984 |
| Units | 27 |
| Transaction Date | 2021-11-17 |
| Transaction Price | $2,275,000 |
| Buyer | EDGE OF CAMPUS LLC |
| Seller | CHARLES BLVD INVESTMENT LLC |
301 E 12th St Greenville Multifamily Investment
Strong renter concentration and everyday retail access underpin a durable tenant base, while neighborhood occupancy near the low-80s points to upside through focused leasing execution, according to WDSuite’s CRE market data.
This Inner Suburb location in Greenville ranks above the metro median (27 out of 61 neighborhoods; rating B), signaling competitive fundamentals for workforce housing. Neighborhood occupancy is approximately 80.5%, suggesting room to stabilize through targeted operations and renewals. Median contract rents are positioned at the entry level for the metro, which can support steady leasing when paired with pragmatic rent growth targets.
Amenity access is anchored by groceries and dining: grocery store density ranks 2nd out of 61 locally and sits in the 92nd percentile nationally, and restaurants score in the 89th percentile nationwide. By contrast, parks, cafes, childcare, and pharmacies are limited in the immediate area, so residents rely on core retail corridors for daily needs rather than a broad mix of lifestyle amenities.
Renter-occupied housing accounts for about 77.5% of neighborhood units, indicating a deep renter pool that supports demand for smaller-format apartments and contributes to leasing velocity and renewal depth. With a rent-to-income ratio near 0.29, operators should balance pricing with value to manage affordability pressure and preserve retention.
Within a 3-mile radius, demographics point to a sizable young-adult cohort and a stable renter base: households have increased while average household size has trended lower, implying more one- and two-person households entering the market and supporting demand for smaller units. WDSuite’s CRE market data also indicates rents in the surrounding 3-mile area have risen in recent years and are projected to continue increasing, reinforcing the case for disciplined revenue management.
Ownership costs in the neighborhood are comparatively low versus national norms, which can create some competition with entry-level homeownership. For multifamily investors, that dynamic favors a focus on convenience, professional management, and quality maintenance to sustain pricing power and lease retention.
Safety trends are mixed and should be monitored. The neighborhood ranks 51 out of 61 within the Greenville metro, which is above the metro median on this measure, yet it sits around the 36th percentile nationally, indicating safety levels that are below national averages. For investors, this points to the importance of property-level measures such as lighting, access controls, and resident communication to support leasing and retention.
Recent data shows property offenses increased year over year, while violent offense rates have improved markedly, placing the area among stronger national improvers for that category. The directional split underscores a need for ongoing oversight and collaboration with local stakeholders to maintain stabilization momentum.
The asset benefits from a deep renter pool, everyday retail access, and entry-level rent positioning that supports occupancy stability. Neighborhood occupancy around the low-80s suggests room for operational upside via leasing focus, renewals, and light amenity enhancements. High renter concentration in the immediate area translates into a broad tenant base, while 3-mile demographic patterns point to more smaller households entering the market, sustaining demand for compact floor plans.
Rents remain attainable relative to local incomes, but a rent-to-income ratio near 0.29 warrants disciplined increases and value-forward unit turns. According to CRE market data from WDSuite, grocery and restaurant accessibility outperforms most Greenville neighborhoods, supporting resident convenience and retention. Counterbalancing factors include below-national safety positioning and potential competition from lower-cost ownership, both of which can be managed through professional operations, resident experience, and thoughtful capital planning.
- Deep renter pool and everyday retail access support leasing and renewals
- Neighborhood occupancy near the low-80s offers operational upside with focused execution
- Entry-level rent positioning aligns with smaller-household demand in the 3-mile area
- Risk: safety sits below national averages—mitigate via property-level measures and engagement
- Risk: low ownership costs can compete with rentals—prioritize convenience, service, and upkeep to sustain pricing power