| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 52nd | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1202 Gunn St, Reidsville, NC, 27320, US |
| Region / Metro | Reidsville |
| Year of Construction | 1979 |
| Units | 103 |
| Transaction Date | 2024-06-18 |
| Transaction Price | $654,000 |
| Buyer | MEADOWGREEN APARTMENTS LP |
| Seller | MEADOWGREEN APARTMENTS LTD |
1202 Gunn St, Reidsville NC Multifamily Investment
Steady renter demand and relatively low rent-to-income burden in the surrounding neighborhood suggest durable occupancy, according to WDSuite’s CRE market data. The location competes well within the Greensboro–High Point metro, offering investors a pragmatic income profile with room for operational optimization.
This Inner Suburb location carries an A neighborhood rating and ranks 27 out of 245 within the Greensboro–High Point metro, placing it in the top quartile among metro neighborhoods. That positioning points to balanced fundamentals for workforce housing and mid-market renters rather than a speculative thesis.
Livability is supported by everyday retail access: grocery and pharmacy density trend above the metro median and toward the top quartile nationally, while park access is also comparatively strong. Cafe density is limited, and restaurant options are moderate — a typical mix for a value-oriented suburban node.
From a rental market standpoint, neighborhood occupancy sits near the metro median, and the share of housing units that are renter-occupied is elevated for the region. That higher renter concentration indicates a deeper tenant base, which can support leasing velocity and renewal stability through cycles.
Within a 3-mile radius, current demographics show a stable population with modest recent gains and projections for meaningful growth in both population and households through 2028, expanding the potential renter pool. Median home values and a relatively high value-to-income ratio indicate a high-cost ownership market in context, which can sustain reliance on multifamily housing and support pricing power where product is well-maintained.
School ratings in the neighborhood trend below national averages, which is a consideration for family-oriented unit mixes; however, affordability indicators (including rent-to-income metrics) suggest manageable resident cost burdens that can aid retention. Vintage in this area skews 1970s; with a 1979 build, the asset is somewhat newer than the neighborhood average, providing a modest competitive edge versus older stock while still warranting targeted capital planning for aging systems.
Neighborhood safety benchmarks align roughly with national norms overall, with property and violent offense indicators comparing favorably against many neighborhoods nationwide. However, recent year trend signals point to upticks in reported offenses, so underwriting should include prudent security measures and on-site management practices to maintain resident confidence.
For leasing, this reads as neutral-to-positive on comparative safety, coupled with a need to monitor trend direction and sustain preventative protocols over the hold period.
Proximity to regional headquarters and corporate offices supports a diversified employment base that can reinforce renter demand and retention, particularly among commuters in apparel, diagnostics, consumer products, and banking that are listed below.
- VF — apparel (17.0 miles) — HQ
- Laboratory Corp. of America — diagnostics & lab services (22.7 miles) — HQ
- Hanesbrands — apparel (33.9 miles) — HQ
- Reynolds American — consumer products/tobacco (35.5 miles) — HQ
- BB&T Corp. — banking (35.7 miles) — HQ
At 103 units and built in 1979, the property offers scale for operating efficiency and is slightly newer than the neighborhood’s 1970s-heavy stock, providing a modest competitive position while still calling for targeted modernization and systems upgrades. Based on CRE market data from WDSuite, neighborhood occupancy is around the metro median, and a higher share of renter-occupied housing units supports depth of demand and renewal stability. Within a 3-mile radius, projections indicate population and household growth through 2028, pointing to a larger tenant base over the medium term.
Affordability context favors multifamily: elevated value-to-income ratios and a high-cost ownership landscape in the area can sustain reliance on rentals, while rent-to-income metrics suggest manageable resident cost burdens that support retention. Key underwriting considerations include below-average school ratings for family renters, observed recent upticks in offense rates, and routine capex associated with late-1970s construction.
- Competitive A-rated neighborhood — top quartile among 245 metro neighborhoods, supporting durable renter demand
- 1979 vintage offers slight edge versus older local stock, with clear value-add via targeted renovations
- Elevated renter-occupied share supports leasing velocity and renewal stability
- Ownership costs comparatively high for the area, reinforcing reliance on multifamily where quality is maintained
- Risks: softer school ratings, recent offense-rate upticks, and ongoing capex needs for late-1970s systems