| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 40th | Fair |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 208 W Main St, Stoneville, NC, 27048, US |
| Region / Metro | Stoneville |
| Year of Construction | 1984 |
| Units | 30 |
| Transaction Date | 2023-06-06 |
| Transaction Price | $1,158,500 |
| Buyer | WESTRIDGE APARTMENTS LP |
| Seller | WESTRIDGE APARTMENTS LTD |
208 W Main St, Stoneville NC Multifamily Investment
Neighborhood-level data points to steady renter demand supported by relatively low rent burdens and improving occupancy, according to WDSuite s CRE market data. Metrics referenced are measured for the surrounding neighborhood, not the property.
Stoneville s rural profile offers a quieter setting with limited retail and dining density compared with metro cores; amenity availability ranks in the lower half among 245 Greensboro High Point neighborhoods and sits well below national medians. This car-reliant dynamic can favor workforce renters seeking value and stability over lifestyle amenities.
Neighborhood occupancy is reported around 90% and has improved over the last five years, per WDSuite. While overall neighborhood standing is below the metro median (ranked 189 of 245), the local rent-to-income positioning is favorable nationally (84th percentile), which tends to support lease retention and payment performance even if it tempers near-term pricing power.
The building s 1984 vintage is newer than the neighborhood s average construction year of 1958, indicating relative competitiveness versus older stock; investors should still plan for system updates typical of 1980s assets to maintain positioning.
Within a 3-mile radius, demographics show households have been stable recently, with smaller average household sizes and a renter-occupied share of roughly one-quarter. WDSuite s projections indicate population and household growth by 2028 alongside further downsizing in average household size, which can expand the renter pool and support occupancy stability for modest-unit multifamily.
Home values in the neighborhood are moderate versus national levels, and combined with below-median asking rents, the market functions as a high-cost ownership alternative relative to local incomes. For investors, this context reinforces reliance on multifamily housing while suggesting measured rent strategies to balance affordability with retention.
Neighborhood-level crime data are not available in WDSuite for this area at this time. Investors typically benchmark safety by comparing neighborhood trends to metro and national patterns when reliable data are published, and by monitoring shifts over time rather than drawing conclusions from block-level anecdotes.
Regional employment is anchored by large corporate offices within commuting distance, supporting workforce housing demand and lease stability for renters who prioritize commute convenience. Key nearby employers include VF, Hanesbrands, Reynolds American, BB&T Corp., and Laboratory Corp. of America.
- VF apparel corporate offices (24.5 miles) HQ
- Hanesbrands apparel corporate offices (27.1 miles) HQ
- Reynolds American tobacco corporate offices (31.1 miles) HQ
- BB&T Corp. banking corporate offices (31.4 miles) HQ
- Laboratory Corp. of America clinical laboratory corporate offices (37.0 miles) HQ
This 30-unit, 1984-vintage asset presents a value-oriented multifamily play in a rural Greensboro High Point submarket where renters benefit from low rent-to-income burdens. The vintage is newer than the neighborhood average, positioning the property competitively versus older stock while warranting selective capital upgrades to preserve appeal and operating efficiency. According to CRE market data from WDSuite, neighborhood occupancy has trended up, and the 3-mile area is projected to see population and household growth with smaller household sizes a dynamic that can broaden the renter base for compact units.
Amenity density is limited locally, and homeownership remains relatively accessible, which can cap near-term pricing power. Even so, moderate home values and commuting access to major regional employers support steady renter demand and lease retention when paired with disciplined affordability and unit-level improvements.
- Newer-than-area vintage (1984) versus a 1950s neighborhood average supports competitive positioning with targeted system updates.
- Favorable rent-to-income dynamics support retention and collections, aiding occupancy stability.
- 3-mile projections show population and household growth with smaller household sizes, expanding the renter pool for modest units.
- Commute access to regional headquarters underpins workforce housing demand.
- Risks: limited local amenities and relatively accessible ownership may temper pricing power; execution depends on disciplined renovations and leasing.