| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 39th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 316 W Rosemary St, Chapel Hill, NC, 27516, US |
| Region / Metro | Chapel Hill |
| Year of Construction | 1999 |
| Units | 55 |
| Transaction Date | 2019-10-01 |
| Transaction Price | $25,271,000 |
| Buyer | The Preiss Company |
| Seller | Regency Warehouse, LLC |
316 W Rosemary St, Chapel Hill — 55-Unit Multifamily
Renter concentration in the neighborhood is high while homeownership remains costly relative to incomes, supporting a durable tenant base even as neighborhood occupancy trends are softer, according to WDSuite’s CRE market data.
Located in Chapel Hill’s inner-suburban fabric, the property sits in a neighborhood with a renter-occupied share near the top of metro peers (ranked 29 out of 211), and in the top decile nationally. For investors, that depth of renter households points to a broad tenant pool and supports leasing velocity for multifamily product.
Neighborhood occupancy is below the metro median (ranked 203 of 211), signaling the need for proactive leasing and asset management to sustain stability. At the same time, median contract rents in the neighborhood benchmark above many areas nationally, indicating demonstrated willingness to pay for well-positioned units and locations.
Ownership costs are elevated relative to incomes (value-to-income ratio in the high national percentiles), which historically reinforces renter reliance on multifamily housing and can aid retention. Conversely, the neighborhood’s rent-to-income levels imply affordability pressure, so operators should emphasize renewal strategies and amenity-value alignment to support pricing power over time.
Within a 3-mile radius, demographics show a sizeable renter pool today and modest recent growth in households, with forecasts calling for a notable increase in households and smaller average household sizes by 2028. This combination typically expands the addressable tenant base and can support occupancy stability for well-managed assets, based on CRE market data from WDSuite.
Vintage context matters: the property’s 1999 construction is newer than the neighborhood’s average 1980 stock. That relative youth can be a competitive advantage versus older buildings, while still warranting targeted modernization and systems updates in capital plans to capture value-add upside.
Safety indicators are mixed. Compared with the Durham–Chapel Hill metro, the neighborhood’s overall crime rank sits at 79 out of 211, which is competitive among metro neighborhoods but below the national average for safety (around the 38th percentile nationwide). Violent offense rates trend better year over year, while property offenses show a recent uptick. Investors should underwrite routine security and lighting, and consider tenant-experience measures that support retention.
Proximity to key Triangle employers supports workforce demand and commute convenience for renters, notably across technology and life sciences. Nearby anchors include Cisco Systems, Biogen Idec, Quintiles Transnational Holdings, and AmerisourceBergen.
- Cisco Systems — technology/networking (10.6 miles)
- Cisco Systems, Building 8 — technology/networking (11.03 miles)
- Biogen Idec — biotechnology (11.42 miles)
- Quintiles Transnational Holdings — life sciences CRO (12.54 miles) — HQ
- Amerisource Bergen — pharmaceuticals distribution (13.95 miles)
316 W Rosemary St is a 55‑unit asset built in 1999, positioning it newer than much of the surrounding neighborhood stock. This relative vintage advantage can translate into competitive leasing versus older properties, with selective renovations and systems updates offering value‑add potential. The neighborhood’s high share of renter-occupied housing units and a high-cost ownership landscape point to a durable tenant base; however, softer neighborhood occupancy requires disciplined operations and targeted marketing to sustain stability.
Employment access to major Triangle technology and life science employers underpins demand, while household counts within a 3‑mile radius have edged higher and are projected to rise further with smaller average household sizes, expanding the renter pool. According to CRE market data from WDSuite, neighborhood rents benchmark above many areas nationally, but elevated rent-to-income ratios suggest careful lease management and resident retention strategies are prudent.
- 1999 vintage offers competitive positioning versus older neighborhood stock with targeted modernization upside
- High renter-occupied share indicates depth of tenant base and supports leasing
- Access to regional tech and life science employers supports workforce housing demand
- Neighborhood rents benchmark well nationally, supporting revenue potential for well-managed assets
- Risks: below-metro neighborhood occupancy and affordability pressure call for proactive leasing and retention management