| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 63rd | Good |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 843 Spring Run Rd, Winterville, NC, 28590, US |
| Region / Metro | Winterville |
| Year of Construction | 2003 |
| Units | 25 |
| Transaction Date | 2013-09-30 |
| Transaction Price | $5,100,000 |
| Buyer | TRAINOR ELIZABETH A |
| Seller | AJMERA LLC |
843 Spring Run Rd Winterville Multifamily Investment
Neighborhood occupancy remains high, supporting stable leasing dynamics according to WDSuite s CRE market data. For investors, steady renter demand in this Greenville, NC suburban setting helps underpin income durability.
Located in Winterville within the Greenville, NC metro, the neighborhood is competitive among Greenville, NC neighborhoods based on an overall B+ rating (ranked 23 out of 61 local neighborhoods). Investors evaluating leasing risk will note that neighborhood occupancy is strong at 97.5%, a supportive backdrop for multifamily cash flows relative to typical suburban submarkets.
Livability tilts suburban-rural: grocery access is present but limited, while cafes, parks, and pharmacies are sparse by local standards. This points to more auto-oriented living rather than walkable retail clusters, which can be attractive to renters prioritizing space and value but may moderate premium rent potential tied to amenity density.
Within a 3-mile radius, households have grown over the last five years and are projected to expand further, with smaller average household sizes over time. That combination typically enlarges the tenant base and supports occupancy stability for well-managed assets. About 44% of housing units within 3 miles are renter-occupied, indicating a meaningful renter concentration that supports depth of demand for multifamily.
Ownership costs in the neighborhood sit in a moderate range relative to incomes (value-to-income trends are lower than many national markets). For investors, that can introduce some competition from ownership alternatives, but the area s low rent-to-income ratio (top decile nationally) suggests renters generally face manageable monthly housing costs, aiding retention and minimizing turnover pressure.
The property s 2003 vintage is newer than the neighborhood s average construction year (1990). That positioning can help with leasing competitiveness versus older stock, while investors should still plan for mid-life system updates and targeted renovations to capture value-add upside.
Safety signals are mixed in a way consistent with many suburban markets. Overall crime benchmarks land below the national median (around the lower half nationally), while both violent and property offense indicators compare more favorably op tercile nationally suggesting relatively better conditions on those specific measures. Short-term year-over-year changes indicate some volatility, so investors should monitor trend direction and rely on current local reporting when underwriting.
At the metro level, the area s safety profile sits around the middle of Greenville, NC neighborhoods. For underwriting, this typically supports standard operating assumptions with prudent contingencies for security, lighting, and resident engagement to sustain leasing stability.
843 Spring Run Rd is a 25-unit, early-2000s asset (built 2003) positioned in a suburban-rural pocket of the Greenville, NC metro where neighborhood occupancy is strong and renter demand is supported by a meaningful renter-occupied housing base within 3 miles. The asset s newer-than-average vintage versus the neighborhood (2003 vs. 1990 stock) improves competitive positioning, with scope for selective capital projects to drive rent and retention. Based on CRE market data from WDSuite, the neighborhood s low rent-to-income ratios point to manageable housing costs that can aid lease renewals and stabilize collections.
Forward-looking demographics within a 3-mile radius point to growth in households and smaller average household sizes, which typically expand the renter pool and support occupancy stability. Amenity density is limited nearby, which may cap premium pricing tied to walkability but aligns with value-seeking renter segments willing to trade proximity for space and newer product.
- Strong neighborhood occupancy supports income stability relative to metro peers.
- 2003 vintage offers competitive positioning versus older local stock with value-add upgrade potential.
- 3-mile household growth and smaller household sizes expand the tenant base over time.
- Low rent-to-income dynamics aid retention and reduce near-term affordability pressure.
- Risks: limited nearby amenities may temper rent premiums; mixed safety trends warrant monitoring and prudent operating assumptions.