| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 64th | Good |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Timbers Dr, Hillsborough, NC, 27278, US |
| Region / Metro | Hillsborough |
| Year of Construction | 1982 |
| Units | 94 |
| Transaction Date | 2016-08-21 |
| Transaction Price | $1,525,000 |
| Buyer | Park Street Partners, LLC |
| Seller | The Timbers Limited Partnership |
1000 Timbers Dr, Hillsborough NC Multifamily Opportunity
Neighborhood occupancy has been exceptionally tight and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. The area’s renter concentration sits above national norms, reinforcing depth of the tenant base while offering investors stable operations with measured growth potential.
Hillsborough’s inner-suburban setting offers quiet residential character with limited café, restaurant, park, and pharmacy density, while basic retail needs are met by average grocery access. For investors, that translates to a resident profile that values convenience to larger job nodes over walkable amenity clusters.
The neighborhood’s renter-occupied share is in the top quartile nationally, signaling a deeper tenant base and potential leasing resilience relative to many U.S. areas. At the same time, the rent-to-income profile indicates manageable affordability pressure, which can support retention and reduce turnover risk.
Within a 3-mile radius, demographics point to a larger tenant base ahead: recent population growth and a notable increase in households suggest more renters entering the market, with additional gains projected over the next five years. Incomes are trending higher locally, which supports steady effective demand for quality rental housing.
Ownership costs are elevated versus national norms (home values and value-to-income metrics rank high nationally), which sustains reliance on multifamily rentals and can underpin pricing power. School ratings trail the national median, and amenities are thinner than urban cores—factors to consider when targeting family renters—but neighborhood-level occupancy has remained strong by metro standards, based on commercial real estate analysis from WDSuite.
Safety indicators compare favorably at the national level. Violent-offense metrics sit in the top decile nationally, and property-offense measures are also stronger than most U.S. neighborhoods, according to WDSuite. Recent year-over-year estimates show declining offense rates, reinforcing a constructive trend. As always, investors should evaluate submarket and corridor variations as part of site-specific due diligence.
Proximity to regional life sciences, technology, and healthcare distribution employers supports workforce housing demand and commute convenience for renters. Nearby anchors include Laboratory Corp. of America, Cisco Systems, Biogen Idec, Quintiles Transnational Holdings, and AmerisourceBergen.
- Laboratory Corp. of America — diagnostics (17.9 miles) — HQ
- Cisco Systems — networking technology (19.0 miles)
- Biogen Idec — biotech (19.6 miles)
- Quintiles Transnational Holdings — clinical research (19.9 miles) — HQ
- Amerisource Bergen — pharmaceutical distribution (21.9 miles)
This 94-unit asset benefits from a renter-heavy neighborhood profile, tight neighborhood occupancy, and proximity to Research Triangle employment nodes. Elevated ownership costs in the area reinforce renter reliance on multifamily housing, while manageable rent-to-income levels point to steadier retention. According to CRE market data from WDSuite, the surrounding neighborhood’s occupancy performance is notably strong versus national norms, supporting an income-focused thesis.
Within a 3-mile radius, population and household counts have been rising and are projected to continue growing, expanding the tenant base. While local amenities and school ratings are more modest than urban cores, the employment reach and stable demand dynamics position the asset for consistent leasing and measured rent growth with disciplined operations.
- Renter concentration in the top quartile nationally supports depth of demand and occupancy stability
- Elevated ownership costs sustain multifamily demand and can bolster pricing power
- Expanding 3-mile population and households indicate a growing renter pool
- Regional employers in life sciences and technology enhance leasing durability
- Risks: thinner neighborhood amenities and below-median school ratings may temper appeal for some family renters