| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 25th | Poor |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 216 N Oakland Ave, Eden, NC, 27288, US |
| Region / Metro | Eden |
| Year of Construction | 1980 |
| Units | 48 |
| Transaction Date | 2018-03-14 |
| Transaction Price | $1,357,500 |
| Buyer | NEW CHADWICK APARTMENTS OF NC LLC |
| Seller | CHADWICK LIMITED PARTNERSHIP |
216 N Oakland Ave Eden NC 48-Unit Multifamily
Neighborhood occupancy has trended higher and renter concentration is solid for the metro, supporting tenant demand and lease stability, according to WDSuite’s CRE market data. With rents positioned well below national levels, this location offers room to compete on value while targeting durable cash flow.
Situated in Eden’s Inner Suburb cluster (Greensboro–High Point metro), the property benefits from a renter-occupied share that is stronger than most U.S. neighborhoods, indicating a deeper tenant base for multifamily. Neighborhood occupancy is below national medians but has improved over the past five years, a positive signal for leasing resilience based on CRE market data from WDSuite.
Relative affordability stands out. Neighborhood median contract rents sit in the lower national quintiles, which can support pricing power for renovated product while maintaining competitive positioning. Ownership costs are also comparatively low for the region, which can introduce some competition with entry-level ownership; however, the current rent-to-income profile is near national midpoints, helping retention and renewal prospects where management practices are strong.
Everyday conveniences are modest inside the neighborhood core, with limited restaurants, groceries, and parks; that said, pharmacy and childcare access trends above national averages, which helps day-to-day livability. Investors should anticipate that residents may rely on nearby corridors for a broader retail and services mix, shaping marketing and tenant retention strategies.
The asset’s 1980 vintage is newer than much of the area’s housing stock (neighborhood average construction skewing earlier), suggesting competitive positioning versus older properties while still warranting capital planning for aging systems and targeted value-add upgrades. Within a 3-mile radius, demographics show modest recent gains in population and households and forecasts call for further growth alongside smaller average household sizes by 2028—factors that generally expand the renter pool and support stabilized occupancy.
Safety indicators are mixed but comparatively favorable on a national basis. Neighborhood-level measures place the area around the 70th to 80th percentiles for safety versus U.S. neighborhoods, signaling relatively better conditions nationally, according to WDSuite’s CRE market data.
Recent trends diverge: property offenses show a sharp year-over-year decline, while estimated violent offense rates have increased over the same period. Investors should underwrite to current trends and monitoring practices, and benchmark performance against the broader Greensboro–High Point metro rather than block-level assumptions.
Regional employment anchors within commuting distance—particularly headquarters and corporate offices in Greensboro and Winston-Salem—support workforce housing demand and help underpin leasing fundamentals for this submarket. The list below highlights nearby headquarters that contribute to diverse white-collar and healthcare-related employment.
- VF — apparel HQ (26.7 miles) — HQ
- Laboratory Corp. of America — diagnostics & lab services (34.3 miles) — HQ
- Hanesbrands — apparel (34.9 miles) — HQ
- Reynolds American — consumer products (38.3 miles) — HQ
- BB&T Corp. — financial services (38.6 miles) — HQ
This 48-unit, 1980 garden-style asset pairs a resilient renter base with improving neighborhood occupancy and comparatively low rent levels, creating room for value-add repositioning while maintaining competitive pricing. Within a 3-mile radius, modest population and household growth—projected to continue with smaller household sizes—supports a broader tenant base and potential lease-up durability. According to CRE market data from WDSuite, the neighborhood’s renter concentration is above many peers and occupancy has improved, reinforcing a stable demand backdrop.
The primary considerations are modest in-neighborhood amenities and mixed safety trends; however, proximity to major corporate headquarters within 25–40 miles helps sustain employment-driven demand. Targeted renovations and system upgrades typical for 1980s construction can enhance rentability without over-extending affordability, supporting steady cash flow in a value-focused segment.
- Improving neighborhood occupancy and above-average renter concentration support demand stability
- 1980 vintage offers value-add and modernization potential versus older local stock
- Rents sit well below national levels, enabling competitive positioning after upgrades
- Regional HQ employment base within commuting range underpins workforce housing demand
- Risks: limited local amenities and mixed safety trends warrant conservative underwriting