| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 62nd | Fair |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 539 Glen Rd, Garner, NC, 27529, US |
| Region / Metro | Garner |
| Year of Construction | 2012 |
| Units | 48 |
| Transaction Date | 2011-06-24 |
| Transaction Price | $617,000 |
| Buyer | GARNER MMR LIMITED PARTNERSHIP |
| Seller | JOHNSON DONALD L |
539 Glen Rd Garner NC 48-Unit Multifamily
Neighborhood occupancy trends sit in the mid-90s, pointing to steady renter demand and lease-up stability, according to WDSuite s CRE market data. With 2012 construction, the asset competes well against older local stock while offering room for targeted updates over time.
Garner s submarket fundamentals are competitive among Raleigh-Cary neighborhoods (ranked 105 of 331 overall), with occupancy above national norms and rent levels that place the area in the top quartile nationally. The 2012 vintage is newer than the neighborhood s average build year of 2006, which supports positioning versus older assets while still allowing for selective modernization to sharpen rents and retention.
Within a 3-mile radius, population and households have expanded meaningfully over the last five years and are projected to continue growing, signaling a larger tenant base and reinforcing occupancy stability. Renter-occupied share in this 3-mile area sits around one-fifth of housing units, which suggests a defined but not saturated renter pool; investors should expect steady demand with some competition from ownership options.
Local amenity access is mixed: grocery and pharmacy availability track above national averages, while parks and cafes are limited. For a suburban location, this pattern typically favors car-dependent living but can still support resident satisfaction when paired with larger floor plans and on-site features. Neighborhood contract rents benchmark in the top quartile nationally, a signal that pricing power is supported by incomes and occupancy rather than by walkable amenities.
Home values are elevated for the region, which, combined with a moderate rent-to-income profile, tends to sustain rental demand and support lease retention. For investors focused on multifamily property research, these dynamics indicate durable fundamentals with upside through thoughtful renovations and amenity enhancements rather than wholesale repositioning.
Safety metrics compare well at the national level. The neighborhood sits in a high national safety percentile overall, with violent-offense rates in the 97th percentile (safer than most neighborhoods nationwide) and an improving trend over the past year. Property crime also trends safer than average nationally and has declined year over year. These comparative indicators point to conditions that typically support resident retention and stable operations without implying block-level outcomes.
Proximity to established employers supports a commuter-friendly renter base and underpins leasing stability. The nearby employment mix spans insurance, manufacturing training, and life sciences, aligning with steady, diversified demand.
- Erie Insurance Group insurance (15.8 miles)
- MetLife Auto & Home Craig Conley LUTCF insurance services (15.8 miles)
- MetLife insurance (19.9 miles)
- John Deere Morrisville Training Center manufacturing training (21.4 miles)
- Amerisource Bergen pharmaceutical distribution (21.8 miles)
This 48-unit community s 2012 construction positions it competitively versus a neighborhood average vintage of 2006, reducing near-term obsolescence risk while leaving room for targeted value-add in finishes, amenities, and systems planning. Occupancy in the surrounding neighborhood runs above national averages and household growth within a 3-mile radius points to ongoing renter pool expansion, supporting lease-up consistency and retention. Home values are relatively high for the area and rent-to-income remains moderate, a combination that tends to reinforce reliance on multifamily housing without overextending residents.
Based on commercial real estate analysis from WDSuite, neighborhood rents benchmark in the top quartile nationally and safety indicators are strong with improving trends, both of which support durable operations. Key watch items include a smaller local renter-occupied share and limited park/cafe density, which place more emphasis on unit quality, parking, and on-site amenities to maintain pricing power.
- Newer 2012 vintage vs. local average supports competitive positioning with selective renovation upside.
- Strong neighborhood occupancy and growing 3-mile household counts support stable demand and retention.
- Top-quartile rent benchmarks and solid safety metrics back consistent operations and pricing power.
- Elevated home values with moderate rent-to-income profile reinforce reliance on rentals.
- Risks: smaller renter-occupied share and limited walkable amenities place importance on asset-level features.