Neighborhoods in Greensboro
Hi everyone,
I'm looking to invest in Greensboro (small multifamily properties) and doing my research on the different neighborhoods. Just thought I'd share my thoughts from my research to get some feedback. I'd love to get some more insights from those familiar with the market. Feel free to point out where I'm completely wrong! I know just like in any other market, the fine details are super important, but very broadly:
- West and North West: best area of town. Higher income. Low vacancy in general. This is generally a more recently developed area, so property stock is newer. May be a bit more difficult to find those less new properties with good value add potential.
- South West: Overall a decent area. Maybe a few rough pockets. I've heard the area around Four Seasons shopping mall may be rough. Curious what other rough areas are. Overall this maybe a good area to find value add rentals
- South: Overall not as good as the other areas. Glenwood, Smith Homes, Oakgrove are rough, although I heard Glenwood may be improving? Further south there are a few more rough areas including Holden Farms, Greentree, The Pines, Woodlea Lakes.
- East: The strip east of O'Henry Blv is rough, some have even said dangerous.
- North East: Not too sure about this area. Looks like it could be a good area to target, especially the area around 1 o'clock.
I'd love to know what areas you would consider good for affordable B/C type housing?
Thanks
Hi Huan,
I'm new to Bigger Pockets and real estate in general, but I was born and raised in Greensboro. Sounds like you've really done your homework. You described the areas of the city pretty accurately.
I grew up in northeast Greensboro. If I had to rate this area, I would probably give it a low B/B-, but it's good mix of B and C type single family homes, with a few apartments and, maybe, some duplexes scattered throughout. Go west and you'll be in nicer neighborhoods. Head north and east -- you'll be in more rural type areas. Also ,the last phase of Greensboro's Urban Loop will run right through this area and is expected to be completed in late 2022.
I don't know if this information is helpful in the slightest, but please reach out to me if I can be of assistance. I am trying to immerse myself into the real estate world, and I am greener than green, however Greensboro is home and I'm happy to help and to try to answer any questions you may have about the area.
Hi Cory, that's fantastic input. Thank you! Yeah looks like the area around the last segment of the Urban Loop has great potential. There were a couple of really big apartment transactions in that area recently too it looks like. Would love to connect with you!
@Cory Willett what do you think of investing south of the tracks, immediatly south of UNCG. From what I understand they are expanding that way
@Daniel Shchyokin sorry I've been out of the loop for a while. UNCG continues to span. There's been a lot of development and a bunch of new student housing now stands where there used to be old run down houses and buildings. I think someone would stand a good chance at landing some good rentals and flips in that area. What are your thoughts?
What do you think the best strategy in that neighborhood? Im thinking either land asnd wait for someone to buy me out, or a house that doesnt need much work (which I think would be hard to find). The thing I see is that there just arent high enough comps to justify a BRRRR
@Daniel Shchyokin if you can door knock I'd target the area between Walker and Spring Garden. The north neighborhood from Walker to Market is selling in the $250-400k range. There a still a lot of opportunities south of Walker.
@Huan Nguyen Your assessment is fairly accurate. I currently own properties in the Glenwood, Spring Garden, Park Grove, etc. @Ryan Richmond has a point as well about the area between Walker and Spring Garden. Lindley Park is an exceptional rental area. Glenwood, Revolution Mill, and S Elm Eugene are three specific areas I'm actively buying in. The Greensboro rental market is set up for the long term. Good luck!
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Real Estate Agent North Carolina (#309381)
- 336-601-6995
- http://www.investinthetriad.com
@Ryan, yep that is where my current deal is!
@Huan Nguyen
Honestly depends on the deal - work the numbers and if the profit margin is solid then most areas will work.
The 150k - 250k zone is moving fast. Older demographic is downsizing. Interest rates are low. Solid deals break through the high/low income areas.
Overall Guilford county and the Triad are trending up. They are connecting multiple highways - creating convenient commutes, and builders are going vertical constantly.
@Daniel Shchyokin that's awesome. We're in the same neighborhood.
@Ahmed Iqbal I like Jamestown. That area is trending upwards as well. Home prices around Scientific St currently average about 180-190k. Still plenty of upside even in this crazy market. Let me know if you need me to comp a specific address.
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Real Estate Agent North Carolina (#309381)
- 336-601-6995
- http://www.investinthetriad.com
I live in Raleigh, invest in Fayetteville, but looking to expand into other NC markets. Was just doing some casual analysis on Greensboro today and came across this thread. Very good insights from everyone. Thank you!
Thank you @Jason Coleman. I will send you a colleague request shortly. I really appreciate how you respond to people in this forum and hopefully we can work in the future.
@Huan Nguyen I am a Realtor and Property Manager here in Greensboro - let’s talk!
@Jeremy Albers
I am interested in expanding into the Greensboro market, in general around the TRIAD and would like to connect with you.
#3 Starting Out Contributor
- Granada Hills, CA
What's the thought on high point? And the areas south and south west of the 40. How desirable are those areas?
I am local investor in Winston n wanted to expand to GSO areas. Would like to connect with other investors & real estate agents to help me find reantal/multi family deals.
Thanks
Welcome to the area, Huan! I'm an investor in this area and have been close to the area for nearly a decade. I can say Greensboro as a whole is great place to live and we are seeing expansion into a lot of different parts of the city.
@David Lutz had also mentioned High Point, this area tends to lag behind GB in terms of growth but that said, you can certainly still find great deals in this area.
Quote from @Bhavin Jambusaria:
I am local investor in Winston n wanted to expand to GSO areas. Would like to connect with other investors & real estate agents to help me find reantal/multi family deals.
Thanks
There is an investor meetup in Greensboro next Wednesday. Great place to network.
Wed, Oct 26, 6:00 pm, Pig Pounder Brewery
Quote from @Jeremy Albers:
@Huan Nguyen Nguyen I am a Realtor and Property Manager here in Greensboro - let’s talk!
I would like to connect. Wholesaling in NC, deal-flow is good. Please DM your contact