| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 58th | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3354 Frontgate Dr, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 1992 |
| Units | 25 |
| Transaction Date | 2017-10-16 |
| Transaction Price | $1,225,000 |
| Buyer | CIG 242 BW LLC |
| Seller | BLVDW NC LLC |
3354 Frontgate Dr Greenville NC 25-Unit Multifamily
Neighborhood occupancy trends are above the metro median, suggesting steady leasing fundamentals for a 25-unit asset, according to WDSuite s CRE market data. With moderate rents and a solid renter base, the location supports durable demand without relying on premium pricing.
This suburban Greenville location offers everyday convenience, with grocery access competitive among 61 metro neighborhoods and restaurants that sit above the metro median. Cafe density is also competitive within Greenville and tracks above national averages, while park and pharmacy options are limited within the immediate neighborhood.
For investors, neighborhood-level occupancy is above the metro median and has been stable, which supports income durability and manageable downtime between turns. Median rents are moderate relative to national benchmarks, and the rent-to-income ratio indicates manageable affordability pressure 2d 2dconditions that can aid retention. Home values are lower than many U.S. submarkets, which can create some competition from entry-level ownership, but pricing power on well-maintained rentals remains viable when paired with product quality.
Schools score near the top of the metro (ranked 3rd of 61 neighborhoods) and land in the top quartile nationally, an amenity that can reinforce demand for larger units. The neighborhood carries an A- rating, and demographics within a 3-mile radius point to a broader renter pool supported by smaller household sizes and a mix of income bands suited to workforce housing.
The property was built in 1992, which is older than the neighborhood average vintage (2003). That age profile typically implies scheduled capital planning along with practical value-add opportunities 2d 2dfrom targeted interior refreshes to common-area updates 2d 2dto sharpen competitiveness against newer stock.
Safety indicators here trail national averages (national safety percentiles are in the lower range), placing the area below many Greenville peers. Notably, recent-year data show a decline in property offenses, a constructive trend to watch alongside on-site measures such as lighting, access control, and resident screening.
From an underwriting standpoint, it is prudent to budget conservatively for security-related operating expenses and emphasize visible upkeep. These steps can help sustain leasing velocity and tenant retention relative to nearby alternatives.
This 25-unit property at 3354 Frontgate Dr benefits from neighborhood occupancy that is above the metro median and from moderate rents that support retention without overextending households. Within a 3-mile radius, household counts have grown while average household size has edged lower, expanding the renter pool and supporting occupancy stability. According to CRE market data from WDSuite, strong school ratings (near the top of the metro and top quartile nationally) bolster livability and depth of demand for larger floor plans.
Built in 1992, the asset is older than the neighborhood 27s average vintage, pointing to clear value-add angles: targeted interior updates, system modernization, and exterior/common-area improvements to compete effectively with newer stock. Amenity gaps (parks and pharmacies) and below-average safety metrics are risks to monitor, but stable occupancy, a meaningful renter-occupied base, and manageable rent-to-income dynamics provide a foundation for consistent operations.
- Occupancy above metro median supports income stability
- Moderate rents and manageable rent-to-income aid retention
- Strong schools (3rd of 61 metro neighborhoods; top quartile nationally) enhance livability
- 1992 vintage offers value-add potential through targeted upgrades
- Risks: limited parks/pharmacies and below-average safety require active management