| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1851 Amos St, Reidsville, NC, 27320, US |
| Region / Metro | Reidsville |
| Year of Construction | 2000 |
| Units | 41 |
| Transaction Date | 2016-01-07 |
| Transaction Price | $900,000 |
| Buyer | CANTERBURY PLACE APT PHB LLC |
| Seller | CANTERBURY PLACE APARTMENTS LLC |
1851 Amos St, Reidsville NC Multifamily Investment
Workforce renter demand is supported by a high renter-occupied share in the surrounding neighborhood and steady household growth, according to WDSuite’s CRE market data, positioning this asset for durable leasing with prudent management.
Located in a suburban pocket of Reidsville within the Greensboro–High Point metro, the neighborhood earns a B rating and places 115th among 245 metro neighborhoods. Local occupancy for the neighborhood has trended modestly higher in recent years but sits below the metro median, so investors should underwrite leasing with conservative absorption assumptions while emphasizing retention.
Renter concentration is a strength: the neighborhood’s share of renter-occupied housing ranks 53rd of 245, placing it in the top quartile locally and indicating a deep tenant base for multifamily. Within a 3-mile radius, population and households have grown in recent years, and projections point to additional population growth and more households by 2028. This expansion supports a larger tenant base and can help stabilize occupancy through cycles.
Amenity access is mixed. Grocery and pharmacy access are competitive among Greensboro–High Point neighborhoods (both ranking within the stronger half of the metro), while parks and café density are limited. For an investor, this suggests demand skews toward practical, drive-to conveniences rather than lifestyle-driven walkability, with leasing supported by commute patterns and essential services.
The property’s 2000 vintage is newer than the neighborhood’s average construction year of 1974. That relative youth can offer a competitive edge versus older stock; still, capital plans should account for mid-life system updates and targeted renovations to maintain positioning.
Ownership costs in the neighborhood are low compared with national norms, which can create competition from entry-level ownership. At the same time, rent-to-income indicators suggest manageable affordability pressure, which can support lease retention with disciplined pricing. Based on commercial real estate analysis from WDSuite, these factors collectively point to steady, value-conscious renter demand rather than premium, amenity-driven rent growth.
Safety metrics are mixed. Overall crime ranks around the middle of the Greensboro–High Point metro (110th of 245 neighborhoods), and the neighborhood’s overall safety sits below the national median (44th percentile nationwide). At the same time, violent-offense comparisons are stronger, aligning with the top quartile nationally, suggesting relatively better performance on serious incidents versus national patterns. Investors should reflect this nuance in marketing and operations, emphasizing on-site security practices and resident communication.
Given these dynamics, underwriting should assume average-to-cautious insurance and security line items and leverage neighborhood trend monitoring rather than block-level assumptions.
Proximity to regional headquarters underpins a diverse employment base that can support leasing stability for workforce housing. Key nearby employers include VF, Laboratory Corp. of America, Hanesbrands, Reynolds American, and BB&T Corp., providing a mix of apparel, healthcare diagnostics, consumer products, and financial services roles.
- VF — apparel (16.5 miles) — HQ
- Laboratory Corp. of America — healthcare diagnostics (20.8 miles) — HQ
- Hanesbrands — apparel (35.1 miles) — HQ
- Reynolds American — consumer products (36.3 miles) — HQ
- BB&T Corp. — financial services (36.5 miles) — HQ
This 41-unit asset benefits from a renter-driven location, with the neighborhood’s renter-occupied share ranking in the top quartile locally and 3-mile demographics indicating recent population and household growth that expand the tenant base. While neighborhood occupancy levels sit below the metro median, steady demand from workforce households can support leasing durability with hands-on management and resident retention programs.
Built in 2000, the property is newer than much of the surrounding stock, providing relative competitiveness versus older assets. According to CRE market data from WDSuite, ownership costs in the area are comparatively low, so underwriting should consider potential competition from entry-level ownership while leveraging the location’s need-based demand and manageable rent-to-income dynamics. Targeted upgrades and operational focus offer a path to stabilize occupancy and optimize pricing without relying on outsized rent growth assumptions.
- Renter-heavy neighborhood supports depth of demand and leasing resilience.
- 2000 vintage provides competitive positioning versus older local supply with planned mid-life capex.
- Essential-service amenities (grocers, pharmacies) nearby align with workforce renter priorities.
- Underwrite conservatively for below-metro neighborhood occupancy and potential competition from low-cost ownership.
- Operational focus on retention and selective upgrades can drive stable NOI without aggressive rent assumptions.