| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 34th | Poor |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Newsome Rd, King, NC, 27021, US |
| Region / Metro | King |
| Year of Construction | 1986 |
| Units | 49 |
| Transaction Date | 2013-05-01 |
| Transaction Price | $1,543,500 |
| Buyer | PILOT VIEW APARTMENTS LP |
| Seller | L L C ASSOCIATES KING |
600 Newsome Rd, King NC Multifamily Investment
Neighborhood occupancy is in the top quartile locally and renter concentration is strong, supporting leasing stability according to WDSuite’s CRE market data. The 49-unit 1986 asset offers operational durability in an inner-suburban setting with everyday amenities nearby.
Located in King within the Winston-Salem metro, the neighborhood rates A and ranks 19th among 216 metro neighborhoods, placing it above the metro median overall. Occupancy in the neighborhood is in the top quartile among 216 metro neighborhoods and the 91st percentile nationally, a favorable backdrop for maintaining tenancy. Median asking rents in the area trend toward the lower half of national markets, which can aid lease-up and retention for value-focused product, based on CRE market data from WDSuite.
Amenity access is competitive for a smaller inner-suburban node: grocery and pharmacy density rank among the better-performing sub-areas in the metro (both in the top decile to quintile locally), with restaurants also above the metro median. Park access is limited, and average school ratings trail national norms, which may influence family renter appeal and should be considered in marketing and unit mix strategy.
Vintage matters: neighborhood housing skews older (average 1974), while this property was built in 1986, making it newer than the local average. That positioning can support competitiveness against aging stock; however, investors should still plan for system refreshes and targeted common-area upgrades to sustain performance.
Tenure patterns indicate depth for rentals: approximately 53.7% of housing units in the neighborhood are renter-occupied (top quartile among 216 metro neighborhoods and around the 90th percentile nationally). This renter concentration expands the tenant base and supports occupancy stability for multifamily. Within a 3-mile radius, recent years showed modest population softening but with stable household counts; forward-looking estimates point to a small population increase and a larger rise in household counts alongside smaller average household sizes—dynamics that can expand the renter pool.
Ownership costs are moderate for the region but elevated relative to local incomes (value-to-income ratio around the 70th percentile nationally). In practice, this can sustain reliance on rental housing and support pricing power, while the neighborhood’s rent-to-income ratio near the national middle suggests manageable affordability pressure—useful for retention through renewal cycles.
Comparable neighborhood-level safety data were not available in the current WDSuite release for this location. Investors typically benchmark conditions against broader Winston-Salem suburban patterns and evaluate recent trends through municipality reports and property-level incident logs to validate on-the-ground risk and inform security and lighting plans.
Proximity to regional corporate anchors supports commuter demand and leasing durability. Nearby headquarters and corporate offices include Hanesbrands, Reynolds American, BB&T Corp., and VF, offering diversified white-collar employment within practical driving distance.
- Hanesbrands — apparel HQ (8.5 miles) — HQ
- Reynolds American — consumer products HQ (13.9 miles) — HQ
- BB&T Corp. — financial services HQ (14.1 miles) — HQ
- VF — apparel & footwear HQ (34.1 miles) — HQ
The investment case centers on durable neighborhood fundamentals and a competitive vintage. Built in 1986, the property is newer than the neighborhood’s average housing stock, positioning it well versus older comparables while leaving room for targeted value-add through system upgrades and amenity refreshes. Neighborhood occupancy is top quartile locally and strong nationally, and the high share of renter-occupied housing units indicates a deep tenant base that can support steady absorption and renewals. According to commercial real estate analysis from WDSuite, amenity access for daily needs is favorable, though limited park space and below-average school ratings warrant tailored marketing and resident programming.
Within a 3-mile radius, forward-looking estimates point to modest population growth, a notable increase in household counts, and smaller average household sizes—factors that typically expand the renter pool and support lease-up velocity for well-managed Class B assets. Ownership costs running high relative to incomes reinforce rental reliance, while neighborhood rents near national mid-range levels help manage affordability pressure and retention risk. Key sensitivities include small-market depth, public school perceptions, and staying proactive on capital items as the asset ages.
- Newer-than-neighborhood vintage (1986) supports competitive positioning versus older local stock with clear value-add pathways.
- Top-quartile neighborhood occupancy and strong renter-occupied share underpin demand and renewal stability.
- Daily-needs amenities (grocery, pharmacy, restaurants) are accessible, supporting retention and resident convenience.
- 3-mile outlook suggests more households and smaller sizes, expanding the renter pool and supporting absorption.
- Risks: limited park access, below-average school ratings, and small-market scale require targeted leasing and capex planning.