| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 79th | Best |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 103 Melville Loop, Chapel Hill, NC, 27514, US |
| Region / Metro | Chapel Hill |
| Year of Construction | 1985 |
| Units | 26 |
| Transaction Date | 1995-07-10 |
| Transaction Price | $201,000 |
| Buyer | WALDEN GREENFIELDS |
| Seller | --- |
103 Melville Loop Chapel Hill Multifamily Opportunity
Neighborhood data points to a deep renter pool and steady occupancy, according to WDSuite s CRE market data, with fundamentals that favor tenant retention over the cycle. These signals reflect neighborhood metrics rather than property performance and suggest demand durability for a 26-unit asset in Chapel Hill.
Positioned in Chapel Hill s inner-suburban fabric, the neighborhood scores an A rating and ranks 30th out of 211 metro neighborhoods, indicating competitive positioning within Durham Chapel Hill. Neighborhood occupancy is above the national median, supporting stability for lease-up and renewals, while renter-occupied housing represents a higher share of units than typical nationally, reinforcing depth in the tenant base for multifamily investors.
Schools rate well for the area (average rating around 4 of 5 and in the top quartile nationally), a factor that can support long-term renter retention among family households. Everyday retail is not dense within the immediate neighborhood (limited cafes, groceries, and parks), but pharmacy and childcare availability rank above many peers, which helps cover essential services without overextending commutes.
Within a 3-mile radius, demographics show high household incomes and a renter pool that is expected to expand as household counts rise and average household size trends smaller over the next five years. This combination typically supports stabilized occupancy and absorption for well-managed properties as more, smaller households seek professionally managed rental options.
Ownership costs in the neighborhood are elevated compared with national norms (home values rank in a high national percentile), which tends to sustain reliance on rental housing and can aid pricing power and lease retention for quality product. Median contract rents at the neighborhood level sit above many U.S. areas, yet rent-to-income ratios remain near national mid-range, suggesting manageable affordability pressure from an investor standpoint.
The property s 1985 vintage is older than the neighborhood s average construction year. Investors should anticipate capital planning for building systems and look for targeted value-add or modernization to compete with younger stock, particularly in unit finishes and energy efficiency.
Neighborhood safety indicators sit below the national median, placing the area outside top-performing percentiles nationwide. Recent year data shows a modest uptick in both property and violent offense rates, so investors should underwrite prudent security measures and monitor local trendlines alongside municipal initiatives rather than relying on block-level assumptions.
Compared with other U.S. neighborhoods, this location does not rank among the top quartile for safety; however, it remains competitive within many inner-suburban contexts where mixed safety readings are common. For operations, practical steps such as lighting, access control, and resident engagement can help support leasing and retention while aligning insurance and operating budgets to current conditions.
Proximity to major employers in and around Research Triangle Park supports steady renter demand through strong professional job bases in technology, biotech, clinical research, and pharmaceuticals. The following nearby employers provide commute convenience that can aid leasing and retention for workforce and professional tenants.
- Cisco Systems technology (9.6 miles)
- Cisco Systems, Building 8 technology (10.0 miles)
- Biogen Idec biotechnology (10.3 miles)
- Quintiles Transnational Holdings clinical research (10.9 miles) HQ
- AmerisourceBergen pharmaceuticals distribution (12.8 miles)
103 Melville Loop brings 26 units built in 1985 with average unit sizes around 900 square feet a scale that fits well for professional and family renters in Chapel Hill. Neighborhood indicators point to above-median occupancy, a high share of renter-occupied housing, and strong school performance, all supportive of durable leasing. Elevated home values in the area reinforce sustained renter demand and potential pricing power for well-maintained product. Based on CRE market data from WDSuite, the local rent context sits above many U.S. areas while rent-to-income levels remain near national mid-range, a mix that can support revenue while containing retention risk with disciplined lease management.
The asset s vintage is older than the neighborhood s average, creating a clear value-add path through system upgrades and interior modernization to compete with newer stock. Looking ahead, 3-mile demographics indicate an increasing number of households and smaller household sizes, which typically expands the renter pool and supports occupancy stability over the next several years. Investors should balance these strengths against a safety profile below national medians and lighter immediate retail amenities by underwriting proactive operations and resident services.
- Above-median neighborhood occupancy and deep renter-occupied share support demand stability
- Elevated local home values sustain reliance on rentals and potential pricing power
- 1985 vintage offers value-add potential via modernization and efficiency upgrades
- 3-mile outlook shows more households and smaller sizes, expanding the renter base
- Risks: below-median safety and limited immediate retail density warrant proactive operations and budgeting