| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 40th | Poor |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 Commodore St, Clayton, NC, 27520, US |
| Region / Metro | Clayton |
| Year of Construction | 2001 |
| Units | 72 |
| Transaction Date | 2017-06-09 |
| Transaction Price | $4,000,000 |
| Buyer | --- |
| Seller | --- |
301 Commodore St, Clayton NC Multifamily Investment
Renter affordability and steady neighborhood occupancy point to durable leasing fundamentals, according to WDSuite’s CRE market data. Growth in the surrounding tenant base supports demand resilience without relying on aggressive assumptions.
Clayton sits within the Raleigh–Cary metro and this suburban neighborhood carries a C+ rating (ranked 200 out of 331 metro neighborhoods), placing it around the metro middle. Restaurant, cafe, and childcare access trend above national medians, while parks and pharmacies are limited locally, so on-site amenities and nearby retail become more important to tenant convenience.
Neighborhood occupancy stands at 92.7% and has been steady over the past five years, suggesting stable demand at the submarket level. Median rent levels in the neighborhood sit in the upper range for the metro (82nd percentile nationally), while rent-to-income is relatively manageable (77th percentile nationally for affordability), which can aid retention and reduce turnover risk for multifamily operators.
The property’s 2001 vintage is newer than the neighborhood’s average construction year (1988). That positioning can be competitively favorable versus older stock, while investors should still plan for system updates and common-area refreshes typical of early-2000s assets.
Within a 3-mile radius, population and households have expanded meaningfully in the last five years, with forecasts indicating continued population growth and an even faster increase in households by 2028. A smaller projected household size implies more households per resident, which typically enlarges the renter pool and supports occupancy stability. Renter-occupied housing represents roughly 30% of units locally, indicating a meaningful—though not dominant—renter base that aligns with workforce demand patterns.
Median home values in the neighborhood reflect a high-cost ownership market relative to local incomes, which tends to sustain reliance on rental housing. Neighborhood NOI per unit trails national norms (16th percentile), so underwriting should focus on operational efficiency and measured rent growth rather than outsized yield expectations.
Neighborhood-level crime data is not available in this dataset for precise benchmarking. For investor diligence, it is prudent to evaluate recent municipal reports and property-level incident history, and to consider standard measures such as lighting, access controls, and resident engagement to support leasing stability typical of suburban Raleigh–Cary locations.
Proximity to major Triangle employers supports a broad white-collar and advanced manufacturing workforce, reinforcing renter demand through commute convenience to MetLife, John Deere, AmerisourceBergen, Quintiles Transnational Holdings, and Biogen Idec.
- MetLife — insurance operations (23.9 miles)
- John Deere Morrisville Training Center — industrial & equipment training (25.4 miles)
- Amerisource Bergen — pharmaceuticals distribution (25.7 miles)
- Quintiles Transnational Holdings — life sciences/clinical research (27.7 miles) — HQ
- Biogen Idec — biotechnology (28.1 miles)
Built in 2001 with 72 units averaging about 910 sq. ft., this asset competes favorably against older neighborhood stock while leaving room for targeted value-add. Neighborhood occupancy has held steady and rent-to-income levels signal manageable affordability, supporting tenant retention and measured pricing power. According to CRE market data from WDSuite, the area’s rent positioning is above metro medians while still within an affordability range that can underpin leasing stability.
Within 3 miles, robust historical population and household growth—with further gains forecast—translate to a larger tenant base and potential for consistent lease-up. Ownership costs in the area remain elevated relative to incomes, which typically sustains rental demand for well-run multifamily communities. Key risks include below-average school ratings and limited park/pharmacy density, suggesting emphasis on on-site features and resident services to support retention.
- 2001 vintage newer than area average, offering competitive positioning with manageable modernization scope
- Stable neighborhood occupancy and favorable rent-to-income dynamics support retention
- 3-mile growth in population and households expands the renter pool and supports leasing
- Proximity to major Triangle employers reinforces demand from diversified workforce
- Risks: below-average school ratings and limited parks/pharmacies; NOI per unit trails national norms, warranting disciplined operations