| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 52nd | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 855 Spring Forest Rd, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 2001 |
| Units | 55 |
| Transaction Date | 2025-10-13 |
| Transaction Price | $8,400,000 |
| Buyer | SPRING LAKE PROPERTY LLC |
| Seller | JKM INVESTMENT GROUP NO 2 LLC |
855 Spring Forest Rd Greenville NC Multifamily Investment
Neighborhood renter concentration is high and supports a deeper tenant base, while occupancy trends are measured at the neighborhood level and indicate room for leasing execution, according to WDSuite’s CRE market data.
This Inner Suburb location in Greenville ranks 6th of 61 metro neighborhoods (A rating), placing it in the top tier locally for overall neighborhood fundamentals. Restaurants, cafes, childcare, and pharmacies score in the top quartile among 61 metro neighborhoods, indicating day-to-day convenience that supports leasing and retention. Grocery access is competitive among Greenville neighborhoods, though park access is limited, which may matter for residents prioritizing green space.
Neighborhood occupancy is measured at 88.6% and sits below national averages, suggesting a focus on leasing and management can add value. At the same time, the share of housing units that are renter-occupied is 56.8% and ranks in the high 92nd percentile nationally, signaling a deep renter pool and steady multifamily demand. Median contract rents in the neighborhood sit around the national mid-range, which can help maintain pricing flexibility relative to higher-cost metros.
Construction in this area skews newer (average 2008), which means a 2001 asset competes against relatively young stock; investors should plan for selective capital improvements or modernization to sustain positioning against newer comparables. School ratings trend below national norms, which can influence demand from family renters, yet proximity to daily amenities partially offsets this for many renter cohorts.
Within a 3-mile radius, households increased even as population edged down slightly, implying smaller household sizes and potential demand for smaller units—consistent with the property’s average unit size. Looking ahead to 2028, WDSuite data indicate growth in households and incomes within 3 miles, pointing to renter pool expansion and support for occupancy stability over the medium term.
Home values are relatively modest for the region, which can introduce some competition from ownership options. For multifamily investors, this typically argues for disciplined lease management and amenity upgrades to sustain retention and pricing power versus entry-level ownership.
Crime conditions should be evaluated at the neighborhood level rather than the block. The overall crime ranking positions this area somewhat above the metro average for incidents among 61 Greenville neighborhoods, while estimated property and violent offense rates have trended down notably over the past year, according to WDSuite.
Nationally, the neighborhood compares closer to the middle to lower half of areas for safety, but recent year-over-year improvements are a constructive trend for long-term risk assessments. Investors should underwrite with current local data, lighting and security measures, and community management practices that support resident comfort and retention.
855 Spring Forest Rd is a 55-unit, 2001-vintage asset positioned in a Greenville Inner Suburb that ranks among the metro’s stronger amenity corridors. The neighborhood’s high renter concentration and mid-range rent levels indicate depth of demand, while measured occupancy below national benchmarks points to operational upside via leasing and renewal execution. Based on commercial real estate analysis from WDSuite, newer competing stock in the submarket (average 2008) suggests a targeted value-add plan—interior updates, systems refresh, or amenity touches—can help the property maintain competitiveness without overextending capital.
Within a 3-mile radius, households have grown and are projected to continue increasing through 2028, supporting renter pool expansion and occupancy stability. Relatively modest home values can increase competition from ownership, but they also underscore the importance of product differentiation and service quality to sustain pricing and retention.
- High renter-occupied share in the neighborhood supports a deeper tenant base and stable demand.
- Amenity access (food, childcare, pharmacies) ranks in the top quartile among 61 metro neighborhoods, aiding retention.
- 2001 vintage versus a newer neighborhood average points to targeted value-add and selective capex to sharpen competitiveness.
- Projected household growth within 3 miles through 2028 supports renter pool expansion and leasing momentum.
- Risks: neighborhood occupancy below national norms, softer school ratings, and potential competition from entry-level ownership options.