| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Poor |
| Demographics | 26th | Poor |
| Amenities | 7th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 E B St, Butner, NC, 27509, US |
| Region / Metro | Butner |
| Year of Construction | 1984 |
| Units | 95 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
600 E B St Butner NC Multifamily Investment
Neighborhood occupancy of 95.5% points to steady leasing fundamentals for this 95-unit asset, according to WDSuite’s CRE market data.
Situated in Butner within the Durham–Chapel Hill metro, the neighborhood shows occupancy strength with a rank of 67 out of 211 metro neighborhoods, translating to competitive performance locally and a top quartile position nationally for occupancy. This backdrop supports income stability for multifamily operators, even as the immediate area offers a relatively modest amenity mix.
Renter demand signals are mixed. At the neighborhood level, renter-occupied housing represents a meaningful share of units (38.4%), indicating a viable tenant base; within a 3-mile radius, renter concentration is lower (about 26%), which can temper leasing velocity for larger communities. Median contract rents in the neighborhood remain on the lower side nationally, while the rent-to-income ratio sits at 0.11 (high national percentile), suggesting comparatively manageable rent burdens that can aid retention but may limit near-term pricing power.
Ownership costs are relatively accessible in this part of the metro, which can create competition from for-sale housing and moderate rent growth expectations; however, that same context can keep multifamily positioned as a practical option for households prioritizing flexibility. Average school ratings are below national norms, and amenity density is light (few cafes, restaurants, parks, and pharmacies), though grocery access is present and competitive among Durham–Chapel Hill neighborhoods.
Demographics aggregated within a 3-mile radius indicate population growth over the last five years with further expansion projected by 2028, alongside a notable increase in households. Rising median incomes and a growing share of higher-earning households point to a gradually deepening renter pool, which supports occupancy stability and long-run leasing fundamentals for well-positioned assets.
Comparable neighborhood crime rankings are not available in WDSuite for this location, so investors should contextualize safety using multiple sources and trends over time. A practical approach is to review municipal reports, speak with local stakeholders, and evaluate property-level measures and visibility along key corridors, focusing on how conditions may influence leasing, retention, and operating practices.
Regional employment anchors within commuting range include pharmaceuticals, biotechnology, healthcare distribution, networking technology, and insurance—industries that collectively support workforce housing demand and leasing consistency.
- Quintiles Transnational Holdings — pharmaceuticals (18.5 miles) — HQ
- Amerisource Bergen — healthcare distribution (20.3 miles)
- Biogen Idec — biotechnology (20.3 miles)
- Cisco Systems — networking technology (20.5 miles)
- MetLife — insurance (21.4 miles)
Built in 1984, this 95-unit community offers a classic vintage profile with potential value-add and systems modernization upside. The neighborhood’s occupancy performance is competitive among Durham–Chapel Hill submarkets and sits in the top quartile nationally, supporting cash flow durability; at the same time, a relatively accessible homeownership market and lighter amenity density call for disciplined revenue management and targeted capital improvements. According to CRE market data from WDSuite, rent burdens are comparatively manageable, which supports retention but can temper near-term pricing power.
Within a 3-mile radius, population and household growth—alongside rising incomes—signal a deepening tenant base over the next few years. Renter concentration is higher at the neighborhood level than in the broader 3-mile area, indicating a viable multifamily customer base, while the property’s older vintage may benefit from strategic renovations to enhance competitive positioning against newer stock.
- Occupancy strength competitive in the metro and top quartile nationally supports income stability.
- 1984 vintage creates value-add potential through unit upgrades and targeted system improvements.
- Manageable rent-to-income dynamics aid retention and lease management.
- 3-mile radius shows population and household growth, expanding the tenant base.
- Risks: accessible ownership options and lighter amenity density may limit pricing power without upgrades and active leasing strategy.