| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 74th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 201 Westbrook Dr, Carrboro, NC, 27510, US |
| Region / Metro | Carrboro |
| Year of Construction | 1985 |
| Units | 102 |
| Transaction Date | 2010-09-16 |
| Transaction Price | $4,350,000 |
| Buyer | CSP CHAMBERS RIDGE LLC |
| Seller | MUSTARD SEED CHAMBERS RIDGE LLC |
201 Westbrook Dr Carrboro Multifamily Investment
Neighborhood occupancy around 92.8% and a high-cost ownership market suggest durable renter demand in Carrboro, according to WDSuite’s CRE market data; these are neighborhood-level indicators rather than property performance.
Carrboro sits within the Durham–Chapel Hill metro and this neighborhood carries a B rating, competitive among Durham–Chapel Hill neighborhoods (rank 96 of 211). Neighborhood occupancy is 92.8%, indicating steady demand for rental housing at the area level rather than at this specific property.
Renter-occupied share in the neighborhood ranks 66 of 211 — above the metro median — supporting a deeper tenant base for multifamily. Median contracted rents in the neighborhood sit in the 69th percentile nationally, while the rent-to-income ratio of 27% points to manageable affordability pressure that investors should still track in lease management.
Within a 3-mile radius, demographics show a large 18–34 renter cohort today and forecasts indicate growth in households by 2028, which can expand the local renter pool and support occupancy stability. Mean and median household incomes are projected to trend higher, which can sustain absorption for well-positioned units.
Median home values are elevated for the metro (78th percentile nationally) and the value-to-income ratio ranks in the top decile nationwide, signaling a high-cost ownership market that tends to reinforce reliance on multifamily rentals and support lease retention.
The property’s 1985 vintage is newer than the neighborhood’s average 1974 stock, which can be competitively positioned versus older buildings; however, investors should plan for ongoing system updates and targeted renovations to meet current renter expectations. The smaller average unit size (about 354 SF) indicates compact layouts that can serve cost-conscious renters and singles seeking attainable price points.
Safety signals are mixed and should be evaluated in context. At the metro level, the neighborhood’s overall crime rank is 37 out of 211 Durham–Chapel Hill neighborhoods, indicating comparatively higher crime concentration versus many nearby areas. Nationally, composite crime benchmarks around the middle of the pack (mid-50s percentile), so conditions are closer to average when compared with neighborhoods nationwide.
Property offenses benchmark more favorably nationally (low-70s percentile), while violent offense levels are nearer the national mid-range (low-50s percentile). Recent year-over-year violent offense trends show volatility (lower national percentiles for improvement), which warrants monitoring and ongoing engagement with local data. As always, safety varies block-to-block; investors should pair these neighborhood-level indicators with on-the-ground diligence.
Regional employment nodes tied to technology, life sciences, insurance, and healthcare underpin renter demand and commuting convenience for this neighborhood. Key nearby employers include Cisco Systems, Biogen Idec, Quintiles Transnational Holdings, Amerisource Bergen, and John Deere.
- Cisco Systems — technology offices (11.6 miles)
- Cisco Systems, Building 8 — technology offices (12.1 miles)
- Biogen Idec — biotechnology (12.5 miles)
- Quintiles Transnational Holdings — clinical research (13.7 miles) — HQ
- Amerisource Bergen — pharmaceuticals distribution (15.0 miles)
- John Deere Morrisville Training Center — industrial equipment training (15.1 miles)
- MetLife — insurance services (16.7 miles)
- Erie Insurance Group — insurance services (19.3 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (19.4 miles)
- Laboratory Corp. of America — diagnostics & lab services (23.8 miles) — HQ
This 102-unit property offers compact layouts and a 1985 vintage that is newer than much of the local housing stock, giving it competitive positioning versus older assets while still leaving room for targeted renovations. Neighborhood-level occupancy near 92.8% and a high-cost ownership environment support steady renter demand; based on CRE market data from WDSuite, household growth within a 3-mile radius is expected to expand the renter pool through 2028.
Elevated neighborhood rents by national comparison, a sizable 18–34 population share, and proximity to major tech, life sciences, and insurance employers suggest stable leasing fundamentals for workforce and entry-level renters. Key risks include crime readings that are less favorable than many Durham–Chapel Hill neighborhoods and affordability pressure that calls for disciplined lease and expense management.
- 1985 vintage newer than area average; potential to modernize systems and finishes for incremental rent lift
- Neighborhood occupancy near 92.8% supports leasing stability at the area level
- High-cost ownership market (strong value-to-income ratio) reinforces multifamily demand and retention
- Risks: less favorable metro crime ranking and affordability pressure; manage via security investments and revenue optimization