| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 53rd | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 403 W C St, Butner, NC, 27509, US |
| Region / Metro | Butner |
| Year of Construction | 1993 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
403 W C St Butner NC Multifamily Investment
Stabilizing renter demand in a rural Durham–Chapel Hill submarket, according to WDSuite’s CRE market data, with a tenant base supported by regional employment corridors. Neighborhood occupancy and tenure patterns point to steady leasing potential for well-managed assets.
Butner’s neighborhood profile skews rural with limited on-the-doorstep amenities, which can support quieter living while relying on nearby corridors for services. Amenity access ranks 71st among 211 Durham–Chapel Hill neighborhoods (above metro median for childcare and pharmacy presence by national percentile), signaling everyday needs are addressable even if not concentrated within immediate blocks.
The neighborhood’s occupancy is measured at the neighborhood level, not this property. With an 86.4% neighborhood occupancy rate and a 160th of 211 rank (below metro median), investors should underwrite to competitive marketing and retention practices. Renter-occupied housing makes up roughly the upper-third share locally (27.3% renter concentration; above the metro median by rank), suggesting a defined but not saturated tenant pool that supports multifamily demand without heavy renter churn.
Construction trends indicate a slightly newer local stock than earlier suburban cohorts (average neighborhood vintage 1984), while this asset’s 1993 vintage positions it as newer than the area average—providing relative competitiveness versus older product while leaving room for targeted system updates or value-add common-area refreshes to strengthen pricing power.
Within a 3-mile radius, demographics show population growth of roughly 9–10% over the last five years with forecasts pointing to a notable increase in households through the next cycle. Rising median and mean household incomes combined with projected rent growth support a larger tenant base and potential occupancy stability for well-positioned units. Median home values are moderate for the region ($223,600; neighborhood value-to-income ratio near 2.6), which means ownership is more accessible than in high-cost metros; investors should account for some competition from entry-level ownership while leveraging the property’s convenience and turn-key rental offering to support retention.
Safety signals are presented at the neighborhood level and should be interpreted comparatively. By national percentiles, recent violent offense rates sit in the top percentile for safety nationwide (99th percentile), and property offense rates are also strong relative to national peers (92nd percentile). This positions the area as favorable in a national context.
Trends are mixed: violent offenses show year-over-year improvement (declining by double digits), while property offenses have increased recently, placing the change metric in a weaker national percentile. Investors may wish to monitor recent property-incident trends and align site-level measures—lighting, access control, and resident communication—accordingly.
Regional employment is anchored by large life sciences, pharmaceutical distribution, and technology employers within commuting range, which can deepen the renter pool and support leasing durability for workforce-oriented units.
- Quintiles Transnational Holdings — life sciences HQ (17.9 miles) — HQ
- Biogen Idec — biopharma (19.6 miles)
- Amerisource Bergen — pharmaceutical distribution (19.7 miles)
- Cisco Systems — networking technology (19.8 miles)
This 49-unit, 1993-vintage asset in Butner benefits from a defined renter base and newer-than-area-average positioning versus local stock, offering competitive appeal with room for targeted value-add. Neighborhood-level occupancy runs below the metro median, but the renter concentration and regional employment access support a stable leasing funnel when paired with active management. According to CRE market data from WDSuite, the surrounding neighborhood trends show moderate ownership costs and projected rent growth—factors that can help sustain multifamily demand even as some households consider entry-level ownership.
Within a 3-mile radius, recent population growth and a forecasted increase in households point to renter pool expansion, while income gains outpacing prior periods may support pricing resilience for renovated or well-maintained units. Given the property’s vintage relative to the neighborhood average, investors can plan for selective system upgrades and common-area improvements to enhance retention and support rent steps.
- 1993 vintage is newer than local average, offering competitive positioning with focused modernization upside
- Defined renter base and regional employers support steady tenant demand and leasing continuity
- 3-mile radius shows population growth and forecasted household increases, supporting occupancy stability
- Moderate ownership costs imply some competition with entry-level buying; emphasize convenience and service to sustain retention
- Monitor property-incident trends and below-metro neighborhood occupancy; underwrite active leasing and resident experience initiatives