| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 52nd | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2901 Vance Street Ext, Reidsville, NC, 27320, US |
| Region / Metro | Reidsville |
| Year of Construction | 1984 |
| Units | 49 |
| Transaction Date | 2018-03-12 |
| Transaction Price | $1,414,500 |
| Buyer | NEW WOODWIND APARTMENTS LLC |
| Seller | WOOD WIND ASSOCIATES OF REIDSVILLE N C |
2901 Vance Street Ext Reidsville Multifamily Investment
Neighborhood occupancy trends sit near metro norms with a competitive renter-occupied share supporting steady leasing, according to WDSuite’s CRE market data. Amenity access skews toward groceries, pharmacies, and parks rather than cafes, positioning the area for workforce-oriented demand.
Located in an Inner Suburb pocket of the Greensboro-High Point metro, the neighborhood carries an A rating (ranked 27 out of 245 neighborhoods), indicating competitive positioning among Greensboro-High Point neighborhoods and solid livability for workforce renters. Grocery (ranked 35 of 245) and pharmacy access (ranked 25 of 245) are relative strengths, while cafes are sparse (ranked 245 of 245). Parks rank 15 of 245, helping with everyday convenience and lifestyle.
Neighborhood occupancy is reported at 91.3%, near broader metro averages. The share of housing units that are renter-occupied is 41.5% (ranked 64 of 245), which is competitive among Greensboro-High Point neighborhoods and points to a meaningful tenant base for multifamily operators. Average school ratings in the area are low (national 15th percentile), which may affect family-driven leasing, but price-sensitive and workforce segments often prioritize access and value over school quality.
Within a 3-mile radius, WDSuite data shows modest recent population and household growth with projections for further renter pool expansion through the next five years. Forecasts point to increases in households alongside rising incomes, which generally support occupancy stability and rent collections for well-managed assets.
Home values sit mid-pack nationally (42nd percentile), while the value-to-income ratio is comparatively elevated (76th percentile), reflecting a higher-cost ownership context relative to local incomes. Combined with a low neighborhood rent-to-income ratio around the national median (52nd percentile) and below-median rent levels, this supports tenant retention and measured pricing power for competitively positioned multifamily assets.
Vintage context: the average neighborhood construction year is 1973. Built in 1984, the subject’s vintage is newer than the area average, suggesting relative competitiveness versus older stock; investors should still plan for aging systems and targeted upgrades to sustain leasing velocity and reduce long-term capex surprises.
Safety indicators compare favorably at the national level: violent and property offense rates are each in higher national safety percentiles (around the 80th–90th percentiles), placing the neighborhood in the top quartile nationally for safety relative to many areas. At the metro scale, overall crime positioning is competitive among Greensboro-High Point neighborhoods.
Recent year-over-year trend data signals an uptick in estimated offense rates, so operators should monitor trajectory and factor in routine security measures and resident communication. Framed for investors, the current comparative standing is supportive for leasing and retention, while the short-term trend warrants ongoing tracking as part of asset management.
Regional headquarters in apparel, diagnostics, tobacco, and banking provide a diversified employment base within commuting distance, supporting renter demand and lease retention for workforce-oriented properties.
- VF — apparel HQ (16.9 miles) — HQ
- Laboratory Corp. of America — diagnostics HQ (22.9 miles) — HQ
- Hanesbrands — apparel HQ (33.6 miles) — HQ
- Reynolds American — tobacco HQ (35.2 miles) — HQ
- BB&T Corp. — banking HQ (35.4 miles) — HQ
This 49-unit, 1984-vintage asset in Reidsville benefits from a workforce-friendly setting where renter-occupied housing is competitive among Greensboro-High Point neighborhoods and neighborhood occupancy trends sit near metro norms. According to CRE market data from WDSuite, the area’s amenity mix tilts toward groceries, pharmacies, parks, and everyday services, while homeownership remains relatively costly versus incomes nationally—factors that reinforce rental demand depth and retention.
The 1984 construction is newer than the neighborhood average, offering a competitive edge versus older stock. Investors can pursue targeted value-add and systems modernization to bolster rent positioning while maintaining affordability that supports collections and lease renewals. Demographic trends within a 3-mile radius point to population and household growth over the next five years, which supports a larger tenant base and occupancy stability for well-managed properties.
- Competitive renter base and near-metro occupancy trends support steady leasing
- Everyday amenity access (groceries, pharmacies, parks) aligns with workforce demand
- 1984 vintage offers value-add and modernization pathways versus older local stock
- Risks: low average school ratings and recent crime upticks warrant monitoring and proactive management