| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 52nd | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 945 Spring Forest Rd, Greenville, NC, 27834, US |
| Region / Metro | Greenville |
| Year of Construction | 2001 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
945 Spring Forest Rd Greenville NC Multifamily Investment
Renter concentration and steady neighborhood amenities support a durable tenant base, according to WDSuite’s CRE market data. Neighborhood occupancy trends are moderate, so asset-level execution and positioning are important for lease stability.
Situated in Greenville’s inner-suburban fabric, the neighborhood rates in the top quartile among 61 metro neighborhoods, signaling balanced livability and investment appeal for multifamily. Dining and daily-needs options are relatively dense versus national norms (restaurants and cafes above the national median), while pharmacy access is also favorable. Park access is limited, which puts more weight on on-site amenities to support resident satisfaction.
The local housing stock skews newer than many areas (neighborhood average construction around 2008), while this property’s 2001 vintage is modestly older. For investors, that positioning can translate into value-add potential through targeted renovations and systems upgrades, while still competing effectively against older assets across the metro.
Renter-occupied housing is high for the neighborhood (well above national norms, per the 92nd percentile), indicating a deep tenant base that can support leasing velocity and renewal capture. At the same time, neighborhood occupancy sits below the national median, so performance will hinge on unit quality, management, and pricing strategy. Within a 3-mile radius, households have grown even as average household size has trended smaller, a pattern that typically expands the renter pool and supports absorption. Median contract rents in the immediate area remain accessible relative to incomes, helping manage affordability pressure and aiding retention.
Home values in this submarket track below national medians, which can introduce some competition from ownership. However, the ownership cost profile also supports steady rental demand for well-managed communities, as multifamily remains a more accessible option for a sizable share of households. These dynamics, combined with Greenville’s university-and healthcare-influenced economy, provide a practical backdrop for investors conducting commercial real estate analysis.
Safety indicators are mixed but improving. The neighborhood benchmarks slightly above the national midpoint overall for safety, while both property and violent incident rates sit below national medians. Notably, recent year-over-year declines in both categories are material, suggesting a constructive trend that can support leasing and resident retention if sustained. Comparisons should be made at the neighborhood level rather than the block level, and investors may wish to corroborate trends with additional sources.
Built in 2001, this 45-unit asset sits slightly older than the neighborhood’s newer housing stock, creating a straightforward path for value-add improvements that can sharpen its competitive position. A high share of renter-occupied units at the neighborhood level points to a sizable tenant base, while within a 3-mile radius, household growth alongside smaller household sizes supports renter pool expansion and occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy trends are moderate versus national benchmarks, implying that leasing performance will depend on targeted upgrades and disciplined management.
Affordability metrics in the area are manageable relative to incomes, which can aid retention and reduce turnover friction. At the same time, limited park access, lower school ratings, and mixed-but-improving safety readings are factors to underwrite. For investors seeking durable workforce demand with modernization upside, the location fundamentals and renter concentration present a pragmatic long-term thesis.
- Renter concentration well above national norms supports a deep tenant base and leasing velocity.
- 2001 vintage offers clear value-add and systems upgrade pathways versus newer neighborhood stock.
- Household growth and smaller household sizes within 3 miles point to ongoing renter pool expansion.
- Manageable rent-to-income dynamics support retention and pricing discipline over time.
- Risks: moderate neighborhood occupancy versus national benchmarks, limited park access, lower school ratings, and safety indicators that warrant monitoring.