| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 53rd | Fair |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3209 Summer Pl, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | 2018-10-24 |
| Transaction Price | $400,000 |
| Buyer | D & J BAKER HOLDINGS LLC |
| Seller | 3 WINNENE LLC |
3209 Summer Pl Greenville Multifamily Investment
Neighborhood occupancy is solid and renter concentration is high, pointing to durable tenant demand, according to WDSuite s CRE market data. Expect steady leasing fundamentals with measured pricing power in a workforce-oriented pocket of Greenville.
This Inner Suburb location carries a B+ neighborhood rating and ranks 20 out of 61 Greenville metro neighborhoods, indicating it is competitive among Greenville neighborhoods for multifamily performance. Occupancy in the surrounding neighborhood is in the top quartile among 61 metro neighborhoods, supporting near-term stability for a 24-unit asset. The renter-occupied share of housing units is also in the top quartile locally, signaling a deep tenant base and consistent leasing velocity for conventional units.
Daily-needs access is a relative strength with grocery options ranking near the upper tier locally, while restaurants are reasonably available. Parks, pharmacies, and cafes are thinner on the ground, so the amenity mix skews toward essentials rather than lifestyle offerings. For investors, that typically supports workforce retention but limits premium amenity-driven rent premiums.
Within a 3-mile radius, households have grown while population has been roughly flat, implying smaller household sizes and a broader pool of renters entering the market. Forward-looking projections indicate additional household gains, which should expand the local renter pool and help support occupancy stability. Median contract rents sit at accessible levels relative to incomes, suggesting manageable affordability pressure and aiding renewal retention.
Ownership costs sit below those of high-cost coastal markets, which can introduce some competition from entry-level ownership; however, current value-to-income dynamics still reinforce steady reliance on multifamily for many households. Investors should underwrite to steady demand, with upside tied more to operational execution and targeted renovations than to amenity arbitrage.
Safety metrics for the neighborhood track below the national median (national percentiles for crime sit in the lower half), indicating a higher-than-average incidence versus many U.S. neighborhoods. Within the Greenville metro, ranks also place this area in the less favorable half of neighborhoods on reported crime levels out of 61 tracked areas.
Recent trends are moving in a constructive direction: both violent and property offense rates have declined year over year, with improvement pacing in roughly the top quartile among 61 metro neighborhoods. For underwriting, this supports a cautious but balanced stance ecurity line items and resident experience investments remain important, while improving trends may aid retention over the medium term.
The property benefits from a renter-driven submarket with top-quartile neighborhood occupancy among 61 Greenville neighborhoods and a high share of renter-occupied housing units, pointing to a resilient tenant base. Rents are positioned at accessible levels relative to incomes, supporting renewal traction and measured pricing power. According to CRE market data from WDSuite, daily-needs amenities like grocery access are a relative strength, while parks and cafes are thinner ntroducing a modest cap on lifestyle-driven premiums but supporting workforce consistency.
Within a 3-mile radius, household counts have increased despite flat population trends, indicating smaller households and a gradually expanding renter pool; forward projections suggest further household growth, which should support occupancy stability. Primary risks include safety metrics that trail metro and national medians and potential competition from entry-level ownership options, which argues for disciplined operations and targeted value-add to differentiate.
- Renter-driven area with top-quartile neighborhood occupancy supporting stable leasing
- Accessible rent levels versus incomes bolster renewal retention and pricing discipline
- Household growth within 3 miles expands the tenant base and supports occupancy
- Essential retail access (grocery) is a relative strength; lifestyle amenities are thinner
- Risks: below-median safety metrics and some competition from ownership options