1611 Fairfax Rd

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1611 Fairfax Rd

Greensboro, NC 27407
Asking Price
$3.50M
Asset Type
Multifamily
Class
Class B

What's Special

1611 Fairfax Road is situated in a residential pocket of Greensboro, North Carolina, located between the Sedgefield and Hewitt Area neighborhoods. The property offers proximity to the West Wendover Avenue commercial corridor, providing residents with access to various retail centers, grocery stores, and dining options. Transportation is facilitated by the site's proximity to Interstate 73 and West Gate City Boulevard, which connect the area to the broader Piedmont Triad region and the Greensboro central business district. The property is suited for multifamily residential use, functioning as a mid-range housing option within the local market. Its location near major transit routes and service-sector employment hubs makes it a practical choice for a tenant profile consisting of local commuters, small households, and workforce professionals. The surrounding area’s blend of established residential streets and nearby commercial infrastructure supports long-term occupancy for traditional apartment or multi-unit configurations.

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NOI
$80,000
Cap Rate
2.29%
DSCR
0.38
Underwater
Cash-on-Cash
-12.17%
Monthly Payment
$17,316.09
Annual Cash Flow
$-127,793.084

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