| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 34th | Poor |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 540 Ingram Dr, King, NC, 27021, US |
| Region / Metro | King |
| Year of Construction | 1990 |
| Units | 41 |
| Transaction Date | 2023-04-28 |
| Transaction Price | $90,000 |
| Buyer | GLIDEWELL THERON LAWRENCE |
| Seller | FAETH STANLEY H |
540 Ingram Dr, King NC multifamily investment
Neighborhood fundamentals point to resilient renter demand and strong occupancy, according to WDSuite’s CRE market data, with this inner-suburb location benefiting from stable leasing dynamics and everyday convenience. Focused underwriting can target durable cash flow with selective operational improvements.
The property sits in an Inner Suburb of the Winston-Salem metro with a neighborhood rating of A and a rank of 19 among 216 metro neighborhoods, indicating competitive positioning versus peer locations. Neighborhood occupancy is in the top quartile nationally and ranks near the top of the metro, signaling steady tenant retention and limited downtime between turns.
Amenity access is a local strength: restaurants and groceries score in the mid-70s nationally, and pharmacies score around the 80th percentile, supporting daily-needs convenience that helps leasing and renewal decisions. Park access is limited compared with both the metro and nation, so on-site open space and resident programming may play a larger role in overall appeal.
The neighborhood shows a higher renter concentration, with a majority of housing units renter-occupied, which deepens the tenant base for multifamily. Within a 3-mile radius, demographics indicate households are projected to grow through 2028 while average household size trends lower; together, that points to a larger pool of households and sustained demand for rental units over the medium term. Median contract rents in the area remain accessible relative to incomes, and a rent-to-income ratio around the low teens supports lease retention while offering room for disciplined revenue management.
Home values in the neighborhood sit in the upper range for the metro relative to incomes (value-to-income ratio above the metro median), creating a high-cost ownership market that can sustain renter reliance on multifamily housing. Average school ratings trend below national averages, which investors should factor into positioning for household segments less sensitive to school performance.
The asset’s 1990 vintage is newer than the neighborhood’s average construction year. That relative youth can reduce immediate capital intensity versus older stock and support competitiveness, though investors should plan for system updates and targeted renovations to maintain positioning and capture value-add upside.
Comparable crime data for this specific neighborhood are not available in the provided dataset. Investors typically assess safety by comparing neighborhood trends with metro and national benchmarks and by validating conditions with third-party sources and site inspections. Use a conservative assumption set in underwriting and verify recent trends during due diligence.
Proximity to major corporate employers supports a stable renter base and commute convenience, with a concentration of headquarters in the Winston-Salem area including Hanesbrands, Reynolds American, BB&T Corp., and VF.
- Hanesbrands — apparel HQ offices (8.2 miles) — HQ
- Reynolds American — tobacco corporate offices (13.8 miles) — HQ
- BB&T Corp. — banking corporate offices (13.9 miles) — HQ
- VF — apparel corporate offices (33.6 miles) — HQ
This 41-unit, 1990-vintage property in King benefits from neighborhood fundamentals that favor stable tenancy: renter-occupied housing is prevalent locally, amenity access is strong for daily needs, and neighborhood occupancy ranks among the metro’s leaders. The vintage is newer than nearby housing stock, offering competitive positioning with manageable capital planning and potential value-add through selective renovations.
According to CRE market data from WDSuite, the neighborhood sits in the top quartile nationally for occupancy, while ownership costs in the area remain relatively elevated versus incomes, reinforcing reliance on rental housing. Within a 3-mile radius, households are projected to grow and average household size to edge lower, expanding the renter pool and supporting leasing stability. Underwriting should account for below-average school ratings and limited park access when defining target renter segments and amenity strategy.
- Top-quartile neighborhood occupancy supports cash flow durability and retention
- 1990 vintage offers competitive positioning with targeted value-add potential
- Proximity to major headquarters underpins steady workforce-driven renter demand
- Ownership costs relatively high versus incomes, sustaining reliance on rentals
- Risks: below-average school ratings and limited parks require thoughtful marketing and amenities