| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 45th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Sherwood Ave, Asheboro, NC, 27205, US |
| Region / Metro | Asheboro |
| Year of Construction | 2007 |
| Units | 40 |
| Transaction Date | 2006-10-09 |
| Transaction Price | $330,000 |
| Buyer | SHERWOOD PLACE LLC |
| Seller | WHITE LEROY MCSWAIN |
1000 Sherwood Ave Asheboro 40-Unit 2007 Multifamily
Positioned in a rural pocket of Asheboro, the asset benefits from renter affordability and a sizable local tenant base, according to CRE market data from WDSuite. The neighborhood shows stable, workforce-oriented demand drivers that can support consistent leasing with prudent operations.
1000 Sherwood Ave sits within a rural neighborhood of the Greensboro–High Point metro that ranks 198 out of 245 neighborhoods (below the metro median), per WDSuite. Amenity density nearby is thin, so residents typically rely on driving for groceries, dining, and services; this dynamic places a premium on on-site conveniences, parking, and streamlined property management.
The property’s 2007 construction is newer than the neighborhood’s average vintage of 1992. For investors, this typically supports competitive positioning versus older local stock while still warranting mid-life capital planning for building systems and common areas to sustain leasing performance.
Neighborhood occupancy is measured for the neighborhood, not the property, and sits in the mid-80% range with some softening over the past five years. Within a 3-mile radius, about 42% of housing units are renter-occupied, indicating a meaningful renter concentration that can support depth of tenant demand even as leasing conditions vary by season.
Home values in the area are relatively accessible compared with many U.S. markets, which can introduce some competition from ownership. However, rent-to-income metrics are high nationally, suggesting modest affordability pressure for renters—an operational positive for retention and collections. These local dynamics point to steadier occupancy potential when paired with disciplined leasing and market-appropriate finishes.
Comparable, neighborhood-level safety metrics for this area are limited in the current dataset. Investors typically evaluate safety by comparing trends across nearby Greensboro–High Point neighborhoods and the broader region rather than block-level readings. Where data is available, using multi-period trends and metro-relative context can help gauge stability and inform site-level measures such as lighting, access control, and resident engagement.
- VF — apparel HQ (30.3 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (36.1 miles) — HQ
- BB&T Corp. — banking HQ (36.5 miles) — HQ
- Reynolds American — consumer products HQ (36.6 miles) — HQ
- Hanesbrands — apparel HQ (42.3 miles) — HQ
Regional employment is anchored by corporate headquarters in the broader Triad, supporting commuter demand and weekday traffic that can reinforce renter stability at workforce properties.
Built in 2007 with 40 units averaging roughly 930 square feet, the asset offers a newer-vintage alternative in a rural submarket where much of the surrounding stock skews older. Based on commercial real estate analysis from WDSuite, the neighborhood shows renter affordability and a meaningful renter-occupied share within 3 miles—factors that can support occupancy stability when paired with focused operations.
Neighborhood occupancy trends have softened and local amenities are sparse, but the combination of accessible home values, high rent-to-income positioning nationally, and projected 3‑mile population and household growth suggest a larger tenant base over time. Mid-life capital planning—targeted interiors, curb appeal, and common-area upgrades—can strengthen leasing competitiveness versus older properties nearby.
- Newer 2007 vintage provides competitive positioning versus older neighborhood stock, with manageable mid-life capex.
- Renter-occupied share within 3 miles supports depth of tenant demand and leasing resilience.
- High national standing on rent-to-income metrics indicates modest affordability pressure, aiding retention and collections.
- Proximity to Triad headquarters underpins workforce demand across commuting renters.
- Risks: below-median neighborhood rank, softer neighborhood occupancy, and limited nearby amenities may require stronger on-site offerings and disciplined leasing.