| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 64th | Good |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2111 Orange Grove Rd, Hillsborough, NC, 27278, US |
| Region / Metro | Hillsborough |
| Year of Construction | 1980 |
| Units | 48 |
| Transaction Date | 2016-06-10 |
| Transaction Price | $2,700,000 |
| Buyer | DORYLU LLC |
| Seller | REAMS ROAD SS LLC |
2111 Orange Grove Rd Hillsborough 48-Unit Multifamily
Neighborhood occupancy leads the Durham–Chapel Hill metro, supporting stable renter demand at this address, according to WDSuite’s CRE market data. With a 1980 vintage and proven renter concentration in the area (neighborhood metric), the asset’s positioning favors steady leasing with room for value-add execution.
Located in an Inner Suburb of Hillsborough, the neighborhood carries a B- rating and sits near the middle of the distribution among 211 Durham–Chapel Hill neighborhoods. For investors, the key signal is neighborhood-level occupancy, which is at the top of the metro and in the top quartile nationally, indicating strong absorption and supports for retention and rent collections at the submarket level (metric reflects the neighborhood, not the property).
Renter-occupied housing makes up a meaningful share of units locally and is competitive among Durham–Chapel Hill neighborhoods, suggesting a solid tenant base for multifamily. Median contract rents in the 3-mile radius remain consistent with household incomes, with a rent-to-income profile around one-fifth at the neighborhood level; this points to manageable affordability pressure and supports lease stability rather than volatility.
Within a 3-mile radius, WDSuite data show population and household growth over the past five years with further increases forecast through 2028, expanding the renter pool and reinforcing occupancy stability. Median home values in the neighborhood trend above national norms (around the 70th percentile nationally) and value-to-income is high relative to the nation, creating a high-cost ownership context that tends to sustain multifamily demand and bolster pricing power.
Amenity density nearby is relatively limited (cafes, parks, and childcare are sparse), while grocery options are present but not concentrated, so residents may rely more on regional shopping corridors. The average public school rating in the area is below the national midpoint, which is relevant primarily for family-oriented renter demand; investors may prioritize unit mix and finishes that appeal to working households and commuters.
The property’s 1980 construction year is slightly older than the neighborhood’s average vintage. That age profile typically implies modest capital planning for systems and common areas, alongside potential value-add and renovation upside to improve unit finishes and operational efficiency relative to newer stock.
Neighborhood safety benchmarks favorably on a national basis, with violent offense rates in the top decile for safety nationwide and property offenses in the top quintile, based on WDSuite’s data. Recent year-over-year trends point to declining estimated rates for both violent and property offenses, which supports leasing stability without relying on block-level assumptions.
Within the Durham–Chapel Hill metro (211 neighborhoods), conditions vary by subarea; this location compares well in national percentiles and has shown recent improvement. Investors should still underwrite typical regional practices (lighting, access control, and resident screening) rather than extrapolating block-specific conclusions.
Proximity to major life-science and technology employers supports commuter demand and lease retention for workforce and professional renters. Notable nearby employers include Labcorp, Cisco, Biogen, and IQVIA (Quintiles) within commutable distances.
- Laboratory Corp. of America — diagnostics & life sciences (18.1 miles) — HQ
- Cisco Systems — networking & enterprise technology (18.8 miles)
- Cisco Systems, Building 8 — networking & enterprise technology (19.3 miles)
- Biogen Idec — biotechnology (19.5 miles)
- Quintiles Transnational Holdings — clinical research (19.7 miles) — HQ
This 48-unit, 1980-vintage asset benefits from neighborhood fundamentals that favor stable operations: metro-leading neighborhood occupancy, a competitive renter-occupied share, and a high-cost ownership backdrop that sustains reliance on rentals. Within a 3-mile radius, population and households have grown and are projected to expand further by 2028, broadening the tenant base and supporting occupancy stability. According to CRE market data from WDSuite, neighborhood rent levels remain aligned with local incomes, indicating manageable affordability pressure that helps underpin collections and renewal rates.
The vintage suggests straightforward capital planning with potential value-add upside via interior upgrades and common-area enhancements to improve positioning versus newer supply in the region. Amenity density is thinner nearby and school ratings are below national averages, so demand should be framed around working households and commuters drawn to regional employment hubs rather than walkable retail.
- Metro-leading neighborhood occupancy and solid renter concentration support durable leasing
- Expanding 3-mile renter pool from population and household growth supports absorption
- High-cost ownership market reinforces multifamily demand and pricing power
- 1980 vintage offers value-add potential with targeted renovations and systems updates
- Risks: thinner nearby amenities and below-average school ratings may limit family-driven demand