| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 58th | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3364 Frontgate Dr, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 1993 |
| Units | 20 |
| Transaction Date | 2017-11-20 |
| Transaction Price | $555,000 |
| Buyer | CIG 242 BW LLC |
| Seller | BLVDW NC LLC |
3364 Frontgate Dr, Greenville NC Multifamily Investment
Neighborhood occupancy has been competitive among Greenville submarkets, and a sizable renter-occupied base supports tenant demand, according to WDSuite’s CRE market data. This asset’s established vintage positions it for targeted value-add to enhance leasing durability.
The surrounding neighborhood is suburban with balanced day-to-day amenities and schools that rate in the top quartile nationally. Within the Greenville, NC metro, the area’s overall neighborhood rating ranks 16 out of 61, placing it above the metro median, while the average school rating (ranked 3 of 61) stands out as top-tier locally and in the 84th percentile nationally — a supportive backdrop for family-oriented renter demand.
Amenity access trends are mixed: cafes and basic groceries are represented at levels that are above the metro median (amenity rank 25 of 61; grocery rank 24 of 61), though parks, pharmacies, and childcare options are comparatively sparse within this neighborhood cohort. For investors, that suggests day-to-day convenience is serviceable but not a lifestyle differentiator, with leasing decisions likely driven more by pricing, schools, and commute patterns than by premium retail adjacency.
Neighborhood occupancy is competitive among 61 Greenville neighborhoods (rank 20 of 61), and the share of renter-occupied housing is elevated for the metro. For multifamily, a higher renter concentration indicates a deeper tenant base and potential for steadier absorption, though effective lease management remains important as pricing power will vary by asset quality and unit finishes.
Demographic statistics are aggregated within a 3-mile radius: households have expanded over the last five years with average household size trending smaller, and projections indicate further household growth alongside a modest increase in incomes. These dynamics point to a gradual renter pool expansion that can support occupancy stability, particularly for well-maintained, functional two- and one-bedroom product.
The property’s 1993 construction is older than the neighborhood’s average vintage (2003 rank 6 of 61), implying potential capital planning around interiors and building systems. That age gap also creates value-add or modernization angles that can improve competitive positioning against newer stock without overreaching on premiums.
Neighborhood safety compares somewhat weaker than national averages, with crime metrics placing the area below the national median. Within the Greenville metro, the neighborhood’s crime rank (52 of 61) indicates it trails many local peers, though recent data show property-related offenses declining year over year while violent incidents have ticked up. For investors, this mixed trend suggests monitoring security posture and emphasizing lighting, access controls, and resident engagement to support retention.
Interpreting these figures comparatively: rankings are measured against 61 Greenville neighborhoods, and national percentiles reflect how the area stacks up across U.S. neighborhoods. While current readings are not top-tier, steady operational practices and visibility into local policing and community programs can mitigate risk at the asset level.
This 20-unit asset offers exposure to a renter-oriented pocket of Greenville with competitive neighborhood occupancy and top-tier local school ratings supporting household stability. According to CRE market data from WDSuite, the area’s renter concentration is elevated for the metro, which deepens the tenant base and underpins leasing consistency, while rent-to-income levels are generally manageable — a positive for renewals and retention strategy.
Built in 1993, the property is older than the neighborhood average vintage, creating a clear value-add path through targeted renovations and system upgrades to sharpen its position against 2000s-era comparables. With 3-mile demographics indicating growth in households and smaller household sizes over time, right-sized unit mixes can benefit from a gradually expanding renter pool, provided operators stay disciplined on pricing relative to the broader Greenville market.
- Competitive neighborhood occupancy and elevated renter-occupied share support demand depth and absorption.
- 1993 vintage presents value-add potential via interior refresh and building system updates.
- Strong local school ratings (ranked 3 of 61) reinforce family-oriented retention.
- 3-mile household growth and smaller household sizes point to a gradually expanding renter pool.
- Risks: safety metrics below national averages and uneven amenity depth; pricing power depends on renovations and operations.