| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 8th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 590 Mock St, Winston Salem, NC, 27127, US |
| Region / Metro | Winston Salem |
| Year of Construction | 2006 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
590 Mock St Winston-Salem, NC Multifamily Investment
Proximity to downtown employers and a renter-heavy housing base point to durable leasing potential, according to WDSuite’s CRE market data, even as neighborhood occupancy trends require hands-on asset management.
Located in an Inner Suburb of Winston-Salem, the area surrounding 590 Mock St shows everyday convenience with dining, groceries, and parks performing above national averages. Neighborhood amenities are competitive among Winston-Salem neighborhoods (15th of 216 for overall amenity access), with restaurants and cafes in the mid-to-high 80s nationally by density and strong park access in a similar range. Fewer nearby childcare options and pharmacies suggest some service gaps investors should factor into resident experience planning.
The neighborhood skews renter-oriented: an estimated 61.4% of housing units are renter-occupied, reinforcing depth of the tenant base and supporting multifamily demand and retention strategies. At the same time, neighborhood occupancy is 83.7%, indicating softer utilization than stronger sub-areas; leasing execution and targeted upgrades can help capture demand within this renter pool.
Within a 3-mile radius, population has expanded in recent years with households up and further gains projected through 2028, which supports a larger tenant base over time. Household income levels have been rising, and rents have advanced from prior years, reinforcing potential for steady absorption when product is positioned correctly. These dynamics, based on CRE market data from WDSuite, point to demand supported by incremental population growth and continuing household formation.
Home values in the immediate neighborhood are lower than many national benchmarks, and rent-to-income ratios trend favorable for renters. For investors, this mix can support pricing power without severe affordability pressure, while acknowledging that more accessible ownership in parts of the metro may create some competition for residents at certain rent thresholds.
Built in 2006, the property is materially newer than the neighborhood’s average vintage (1951). The 2006 construction should be relatively competitive versus older stock and may require targeted modernization rather than full-scale capital replacement, improving the balance between current cash flow and long-term CapEx.
Safety indicators are mixed and should be monitored. The neighborhood ranks 58th out of 216 Winston-Salem neighborhoods for crime, which indicates higher crime exposure than many local areas, and its overall safety profile sits below the national median (around the mid-40s percentile nationally). Investors should reflect this in underwriting via security, lighting, and community programming.
Recent trends are constructive: estimated violent incidents declined about 44% year over year, a top-quartile improvement nationally, and property offenses have edged down modestly as well. While these are encouraging signals, sustained improvement over multiple periods would better validate trend durability.
The location benefits from proximity to major corporate employers that anchor downtown and nearby submarkets, supporting a steady commuter tenant base and reducing turnover risk. Key nearby employers include BB&T Corp., Reynolds American, Hanesbrands, and VF.
- BB&T Corp. — banking HQ (1.2 miles) — HQ
- Reynolds American — tobacco products HQ (1.4 miles) — HQ
- Hanesbrands — apparel HQ (7.7 miles) — HQ
- VF — apparel & footwear HQ (24.7 miles) — HQ
This 100-unit, 2006-vintage asset offers a meaningful age advantage over much of the surrounding housing stock, positioning it well against older rentals in the submarket. The immediate neighborhood is highly renter-occupied, amenity access is competitive within the metro, and the 3-mile trade area shows population and household growth, all of which support a larger tenant base and leasing resiliency. While neighborhood occupancy is currently 83.7%, targeted renovations and focused leasing could help capture demand from nearby employment centers.
According to CRE market data from WDSuite, home values nearby remain comparatively accessible and rent-to-income ratios are favorable, reinforcing potential pricing power without outsized affordability pressure. Key risks include safety scores below national medians and service gaps in certain daily-needs uses, which argue for prudent security measures and resident services in the operating plan.
- 2006 vintage vs. older neighborhood stock supports competitive positioning with manageable modernization needs
- Renter concentration and nearby employers underpin depth of demand and potential retention
- 3-mile population and household growth expand the tenant base and support occupancy over time
- Favorable rent-to-income dynamics suggest room for measured rent optimization with disciplined lease management
- Risks: below-median safety metrics and softer neighborhood occupancy call for active management and security investment