| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 45th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 709 Johnston St, Greenville, NC, 27858, US |
| Region / Metro | Greenville |
| Year of Construction | 1981 |
| Units | 27 |
| Transaction Date | 2015-11-13 |
| Transaction Price | $582,000 |
| Buyer | IDG ON JOHNSTON ST LLC |
| Seller | MUDDY WATERS LLC |
709 Johnston St Greenville NC Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting depth of tenant demand and stable leasing, according to WDSuite’s CRE market data. Neighborhood metrics reflect area conditions, not the property’s own occupancy.
Rated A- and ranked 11 of 61 within the Greenville metro, the neighborhood sits in the top quartile locally, signaling solid fundamentals for small multifamily. Amenity access is a relative strength: restaurant density ranks first in the metro (top percentile nationally), cafés are competitive, and parks per square mile rank near the top—useful for day-to-day livability that supports resident retention.
The area shows a high share of renter-occupied units (neighborhood metric) relative to ownership, indicating a broad tenant base for studios and smaller formats. Median contract rents in the neighborhood sit around the metro middle, which can help properties compete on value while maintaining occupancy. Neighborhood occupancy is below national averages, so disciplined leasing and unit positioning matter for performance.
Within a 3-mile radius, households have grown modestly even as population edged down, and forecasts call for more households alongside smaller average household sizes. For investors, this points to a potentially expanding renter pool and demand for smaller, efficiently priced units—conditions that often favor well-managed, turn-ready inventory.
Ownership conditions lean toward a high value-to-income ratio compared with national norms, which can sustain reliance on rental options and support lease retention. Home values in the immediate area trend lower than national medians, but relative affordability for buyers is tempered by income levels—another factor that can keep multifamily demand resilient.
Neighborhood safety is mixed when viewed against metro and national benchmarks. Crime ranks 43 out of 61 Greenville neighborhoods, indicating below-metro-average safety, and national comparisons place the area below the midpoint. However, recent trend data shows notable year-over-year improvement in violent offense rates, suggesting conditions have been moving in a favorable direction. These statistics reflect neighborhood-level patterns rather than property-specific risk.
Built in 1981, the property’s vintage may present value-add potential through targeted renovations to interiors and systems, with the goal of sharpening competitive position against newer stock. The surrounding neighborhood ranks in the top quartile locally and features robust amenity access, a large renter-occupied housing share, and a tenant base that benefits from everyday conveniences—all supportive of leasing velocity and retention.
Household counts within 3 miles have been rising and are projected to expand further as household sizes trend smaller, pointing to a broader renter pool and consistent demand for compact units. According to CRE market data from WDSuite, neighborhood occupancy trails national norms, so effective revenue management and thoughtful upgrades are important to sustain performance while capturing renter demand from a high-renter-concentration area.
- Top-quartile neighborhood rank in Greenville metro with strong amenity access that supports retention.
- Large neighborhood renter-occupied share indicates depth of tenant demand for smaller units.
- 1981 vintage offers potential renovation and operational upside versus newer competitive stock.
- Within 3 miles, rising household counts and smaller household sizes suggest renter pool expansion.
- Risks: neighborhood occupancy below national averages and mixed safety stats require disciplined leasing and asset management.