| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 71st | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1521 E Franklin St, Chapel Hill, NC, 27514, US |
| Region / Metro | Chapel Hill |
| Year of Construction | 1985 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1521 E Franklin St Chapel Hill Multifamily Investment
Neighborhood fundamentals point to stable renter demand, with occupancy strong at the neighborhood level and a sizable renter-occupied housing share, according to WDSuite s CRE market data. Elevated ownership costs in Chapel Hill support retention and pricing power for well-positioned assets.
Positioned in Chapel Hill s Inner Suburb, the property benefits from neighborhood performance that is competitive among Durham Chapel Hill s 211 neighborhoods (overall A rating; neighborhood rank 25 of 211). At the neighborhood level, occupancy trends are competitive within the metro and in the top quartile nationally, reinforcing near-term leasing stability for multifamily investors.
Renter concentration is meaningful: approximately half of housing units in the neighborhood are renter-occupied (rank 37 of 211; high national percentile), indicating depth in the tenant base and steady demand for smaller formats. Median contract rents in the neighborhood sit above national norms, while the rent-to-income ratio remains moderate, which can support lease retention for well-managed assets.
Daily-needs access is a relative strength. Grocery, parks, and pharmacy density rank in the stronger tiers locally (ranks 23, 30, and 29 out of 211; all around the top quartile nationally). Dining density is mid-pack, while cafes and childcare are comparatively limited within the neighborhood footprint. Average school ratings are competitive (about 4.0 out of 5; top quartile nationally), a factor that can support tenant longevity in family-oriented units.
Within a 3-mile radius, demographics point to a resilient renter pool: recent population and household counts have increased, and households are projected to expand materially by 2028, supporting a larger tenant base and occupancy stability. Income distribution skews toward higher-earning cohorts alongside a sizable student/young professional segment, which can underpin demand for efficient floor plans like the property s average unit size.
Vintage context: the asset s 1985 construction is slightly newer than the neighborhood s average vintage (1981). This positioning can enhance competitiveness versus older stock, while investors should still plan for targeted modernization and system updates to maintain rent-achieving power.
Safety indicators are mixed when viewed against broader benchmarks. The neighborhood s crime rank sits 71 out of 211 within the Durham Chapel Hill metro, and national positioning is below the median. Property offenses track closer to the national middle, while violent-offense metrics are weaker nationally but have improved year over year.
Trend-wise, recent estimates indicate a meaningful decline in violent-offense rates over the last year (improvement ranking in the stronger tiers nationally), which is a constructive signal for long-term stability. As always, investors should underwrite submarket-level trends and property-specific security and lighting, rather than relying on block-level assumptions.
Proximity to major Research Triangle employers supports leasing depth and commute convenience for a workforce renter base, including technology, life sciences, and healthcare services that appear in the list below.
- Cisco Systems technology (9.8 miles)
- Cisco Systems, Building 8 technology (10.2 miles)
- Biogen Idec biotechnology (10.5 miles)
- Quintiles Transnational Holdings life sciences (11.4 miles) HQ
- Amerisource Bergen healthcare distribution (13.0 miles)
This 100-unit asset offers exposure to an Inner Suburb location with competitive neighborhood occupancy and a renter-occupied housing share that supports steady tenant demand. Elevated for-sale home values in the neighborhood signal a high-cost ownership market, which can reinforce reliance on multifamily housing and bolster lease retention. According to CRE market data from WDSuite, neighborhood occupancy trends sit in the stronger tiers locally and in the top quartile nationally, supporting a durable baseline for operations.
Built in 1985, the property is slightly newer than the neighborhood s average vintage, providing an edge versus older stock while leaving room for targeted renovations and system updates to sustain pricing power. Within a 3-mile radius, household counts have grown and are projected to expand further through 2028, pointing to a larger renter pool and healthy leasing pipelines. Investors should account for mixed-but-improving safety metrics and selective amenity gaps when calibrating marketing and capex plans.
- Competitive neighborhood occupancy and renter depth support leasing stability
- High-cost ownership market reinforces multifamily demand and retention
- 1985 vintage offers relative competitiveness with value-add modernization potential
- 3-mile household growth and projected expansion increase the tenant base
- Risks: mixed safety indicators and limited cafe/childcare density require targeted ops and capex