| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 65th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 815 US Highway 70A E, Hillsborough, NC, 27278, US |
| Region / Metro | Hillsborough |
| Year of Construction | 2010 |
| Units | 76 |
| Transaction Date | 2009-09-16 |
| Transaction Price | $1,000,000 |
| Buyer | TBLF ENO HAVEN LLC |
| Seller | OWLS WOOD DEVELOPMENT LLC |
815 US Highway 70A E, Hillsborough NC Multifamily Investment
2010 vintage, 76 units with larger floor plans position this asset for durable renter demand near Durham–Chapel Hill, according to WDSuite’s CRE market data. Neighborhood fundamentals point to steady leasing with room for value-add and operational optimization.
The property sits in an Inner Suburb of Hillsborough with an A- neighborhood rating and a neighborhood rank of 42 among 211 Durham–Chapel Hill neighborhoods, which is competitive within the metro. Local amenity access is balanced: groceries, pharmacies, parks, and restaurants track above metro medians, while cafes are thinner. Average school ratings in the immediate neighborhood trail regional leaders, which may influence family-oriented leasing strategies.
Market context favors rentals. Neighborhood home values are elevated versus many U.S. areas, and the value-to-income ratio sits in a higher national percentile, which tends to sustain reliance on multifamily housing rather than ownership. Neighborhood rent-to-income is measured at a moderate level, supporting lease retention and measured pricing power. Per WDSuite’s commercial real estate analysis, neighborhood occupancy is below national medians, but renter concentration in the neighborhood is higher than many peers in the metro, indicating a meaningful tenant base for multifamily.
Within a 3-mile radius, demographics show population growth over the last five years and a notable increase in households, with forecasts through 2028 pointing to continued expansion in both households and incomes. This translates into a larger tenant base and supports occupancy stability and renewal performance for well-managed properties.
Vintage matters: the submarket’s average construction year skews early-1980s, while this asset’s 2010 delivery offers a relative edge versus older stock. Investors can underwrite fewer near-term system overhauls than 1970s–1980s product, while selectively targeting renovations or common-area upgrades to enhance competitiveness against newly built alternatives.
Safety indicators are mixed and should be framed comparatively. Nationally, the neighborhood sits above average for overall safety (around the 61st percentile compared with neighborhoods nationwide). Within the Durham–Chapel Hill metro, however, available rankings indicate the area falls closer to the higher-incident end when compared against 211 neighborhoods, so investors should calibrate underwriting and security plans accordingly.
Property offenses are a relative bright spot, landing in the top quartile nationally and showing a recent year-over-year decline, according to WDSuite’s data. Violent offense trends, by contrast, increased over the latest year, warranting continued monitoring and proactive site-level measures. Overall, the pattern supports prudent operating practices rather than alarm, with emphasis on lighting, access control, and community engagement to support retention.
Proximity to major Triangle employers supports commuter convenience and broad renter demand, notably in technology, life sciences, and healthcare services. Key nearby employers include Cisco Systems, Biogen, IQVIA, and Labcorp.
- Cisco Systems — technology (17.9 miles)
- Cisco Systems, Building 8 — technology (18.3 miles)
- Biogen Idec — biotechnology (18.5 miles)
- Quintiles Transnational Holdings — life sciences CRO (18.6 miles) — HQ
- Laboratory Corp. of America — diagnostics & lab services (20.0 miles) — HQ
This 2010-built, 76-unit asset offers a favorable position versus older metro stock, pairing larger average unit sizes with proximity to Research Triangle employment. Neighborhood fundamentals are competitive among 211 Durham–Chapel Hill neighborhoods, while 3-mile demographic trends point to ongoing population and household growth that can translate to a deeper tenant base and steadier renewals. According to CRE market data from WDSuite, ownership costs in the area are elevated relative to incomes, reinforcing multifamily demand even as neighborhood rent-to-income remains manageable.
Operationally, investors can emphasize value-add where it matters—common areas, finishes, and amenities—to widen the gap over 1980s-vintage comparables, while underwriting conservatively around neighborhood-level occupancy and school-quality perceptions. Nearby blue-chip employers in tech and life sciences provide a broad renter pool and support leasing durability through cycles.
- 2010 vintage vs. early-1980s neighborhood average supports competitive positioning with fewer near-term system overhauls
- 3-mile population and household growth expands the renter pool and supports occupancy stability
- Elevated ownership costs relative to incomes underpin sustained reliance on rentals, aiding lease retention
- RTP-adjacent employment base (tech, life sciences, healthcare) broadens demand and reduces turnover risk
- Risks: neighborhood-level occupancy below national medians, mixed school ratings, and safety trends that merit active management