| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 40th | Poor |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 809 E Main St, Clayton, NC, 27520, US |
| Region / Metro | Clayton |
| Year of Construction | 1980 |
| Units | 36 |
| Transaction Date | 2023-11-09 |
| Transaction Price | $1,655,000 |
| Buyer | HERITAGE COURT NC PRESERVATION LLC |
| Seller | HERITAGE COURT APARTMENTS |
809 E Main St Clayton NC Multifamily Investment
Neighborhood occupancy around 92.7% with a steady five-year trend points to leasing stability and balanced renter demand, according to WDSuite’s CRE market data.
Located in suburban Clayton within the Raleigh–Cary metro, the property benefits from a renter base supported by local services and commutes into regional job centers. Neighborhood occupancy is reported at 92.7% and has held flat over five years, suggesting stable absorption and manageable turnover risk at the neighborhood level. Renter-occupied housing accounts for roughly 29.7% of units locally, indicating a moderate renter concentration and a reasonably deep tenant pool for a 36-unit asset.
Amenity access trends are mixed: restaurant density sits above the national median, and cafes and childcare are also above median nationally, while parks and pharmacies are comparatively limited. For family-oriented tenants, average school ratings in this neighborhood trail national medians, which may shape unit mix positioning and marketing but does not preclude demand given commute accessibility and service coverage.
Within a 3-mile radius, population and households have grown strongly in recent years, and projections indicate continued population growth and a sizable increase in households by 2028. This trajectory points to a larger tenant base over time, which can support occupancy stability and leasing velocity as new renters enter the market.
Home values are mid-range for the region, and the rent-to-income ratio near 0.11 indicates manageable affordability pressure, which can aid retention. The property s 1980 construction is older than the neighborhood s average vintage (1988), creating a straightforward value-add path via targeted renovations and systems updates to remain competitive against newer stock.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors commonly benchmark conditions against Clayton and Johnston County reports and incorporate property-level measures (lighting, access control, and resident engagement) into underwriting and asset plans.
Proximity to regional employers in insurance, life sciences, tech, and advanced equipment supports renter demand via commute convenience and diversified household incomes. The following nearby employers anchor the area s employment base.
- MetLife corporate offices (23.4 miles)
- John Deere Morrisville Training Center industrial equipment training (25.0 miles)
- AmerisourceBergen healthcare distribution offices (25.3 miles)
- Quintiles Transnational Holdings contract research organization (27.2 miles) HQ
- Cisco Systems technology offices (28.4 miles)
809 E Main St offers a 36-unit, 1980-vintage value-add opportunity in a suburban Clayton location where neighborhood occupancy has remained stable. According to CRE market data from WDSuite, the neighborhood s occupancy rate has been steady over the past five years, and a moderate renter concentration provides depth to the tenant base. With mid-range ownership costs and a rent-to-income ratio indicative of manageable affordability pressure, the asset can compete on livability while using targeted upgrades to unlock rent and retention upside.
Demographic momentum within a 3-mile radius including notable population growth historically and a projected rise in households supports long-run demand for rental housing. The property s older vintage versus neighborhood norms (1988 average) suggests clear renovation and systems-improvement levers, while proximity to diversified employment across insurance, life sciences, and technology can help sustain leasing.
- Stable neighborhood occupancy trend supports underwriting for steady leasing
- 1980 vintage offers value-add potential through interior and systems upgrades
- Growing 3-mile population and households expand the renter pool over time
- Proximity to regional employers (insurance, life sciences, tech) supports demand
- Risks: below-median school ratings and limited park/pharmacy access may affect family-oriented appeal