| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 53rd | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 503 W C St, Butner, NC, 27509, US |
| Region / Metro | Butner |
| Year of Construction | 1991 |
| Units | 49 |
| Transaction Date | 2020-11-09 |
| Transaction Price | $4,125,000 |
| Buyer | LIP EDGEWOOD APARTMENTS LLC |
| Seller | EDGEWOOD BC OWNER LLC |
503 W C St, Butner NC Multifamily Opportunity
Neighborhood data points to a renter-occupied share above the metro median and steady working-household demand, based on CRE market data from WDSuite. For investors, that suggests a serviceable tenant base with room to improve operations as local fundamentals evolve.
Butner is part of the Durham-Chapel Hill, NC metro and carries a B- neighborhood rating (ranked 124 of 211 metro neighborhoods). Local occupancy trends run below metro norms, indicating some leasing softness; however, renter-occupied housing is above the metro median, supporting a workable tenant pipeline for value-focused units. Median home values are moderate for the region, which can temper rent growth but support retention when paired with competitive positioning and reliable service.
Livability is practical rather than amenity-rich. Cafes, groceries, and parks are limited nearby, while childcare and pharmacy access rank competitively within the metro (upper-third), helping day-to-day convenience for residents. In a national context, these dynamics align more with needs-based renting than lifestyle-oriented demand, emphasizing the importance of consistent operations over premium amenities.
Demographics aggregated within a 3-mile radius show recent population growth and a projected increase in households, which can expand the renter pool and support occupancy stability for well-managed assets. At the same time, relatively accessible ownership costs versus local incomes can increase competition from for-sale options, placing a premium on lease management, service quality, and price-to-value positioning informed by commercial real estate analysis.
Safety indicators are mixed and should be viewed in context. Within the Durham-Chapel Hill metro, the neighborhood s crime rank (24 of 211) places it among higher-incident areas locally. Nationally, however, the indicators point to strong relative safety, with violent and property offenses in the top decile compared with neighborhoods nationwide. Recent trends show violent incidents easing while property offenses have ticked up, so ongoing monitoring and standard property security measures remain prudent for underwriting.
Proximity to Research Triangle Park employers supports a commuter-friendly renter base and steady leasing from working households. The following nearby corporate offices are likely demand drivers for workforce housing at this address.
- Quintiles Transnational Holdings — clinical research (17.7 miles) — HQ
- Biogen Idec — biotech (19.5 miles)
- Amerisource Bergen — pharmaceutical distribution (19.6 miles)
- Cisco Systems — networking technology (19.6 miles)
- MetLife — insurance (20.7 miles)
Built in 1991, the property is newer than the neighborhood s average vintage and should compete well against older stock, while still warranting selective modernization of systems and finishes. Renter concentration is moderate but above the metro median, and 3-mile demographic trends point to population growth and a projected rise in households that can expand the tenant base and support occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy runs below metro norms, so execution will rely on operational discipline, value positioning, and targeted upgrades rather than amenity-led premiums.
Ownership remains relatively accessible in this area, which can create competition with for-sale housing. That context favors defensible pricing, efficient unit turns, and resident service that supports retention. With a practical amenity profile and commuter access to major RTP employers, the thesis centers on durable, workforce-oriented demand and operational improvements, with capex calibrated to the submarket s price-to-value expectations.
- 1991 vintage offers competitive positioning versus older stock, with targeted modernization potential
- Renter-occupied share above metro median supports a workable tenant base
- 3-mile population and household growth expand the renter pool and support occupancy stability
- Proximity to major RTP employers underpins steady workforce-driven leasing
- Risks: below-metro occupancy, limited nearby amenities, and competition from accessible homeownership