| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 73rd | Good |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Benttree Forest Dr, Cary, NC, 27519, US |
| Region / Metro | Cary |
| Year of Construction | 2006 |
| Units | 28 |
| Transaction Date | 2020-12-10 |
| Transaction Price | $49,440,000 |
| Buyer | RESERVE XII LLC |
| Seller | DPR CARY LLC |
100 Benttree Forest Dr, Cary NC Multifamily Investment
Suburban Cary benefits from a deep professional renter base and high neighborhood occupancy, according to WDSuite’s CRE market data, supporting durable leasing and pricing discipline. Newer competitive stock nearby raises positioning stakes, but proximity to major employers underpins demand.
Located in Cary within the Raleigh–Cary metro, the neighborhood posts a B+ rating (ranked 112 of 331 metro neighborhoods), signaling solid fundamentals for workforce and professional renters. Neighborhood occupancy is strong and above many peers (96.5% and in the 81st percentile nationally), which supports lease-up and retention strategies in stable conditions.
Schools are a notable strength: the average school rating is 5.0 (ranked 1 of 331 in the metro and in the 100th percentile nationally), which can enhance long-term renter stickiness for family households. Amenity density within the immediate neighborhood is lighter (amenities around the 21st percentile nationally), though grocery and pharmacy access track closer to mid-metro norms, so daily needs are serviceable even if dining and café options are limited nearby.
Home ownership costs are elevated relative to both the metro and nation (home values near the 94th national percentile). For multifamily investors, a high-cost ownership market typically sustains renter reliance on apartments and can reinforce pricing power and lease retention, particularly when paired with a favorable rent-to-income backdrop (around the 79th percentile nationally).
Within a 3-mile radius, demographics indicate a larger tenant base and continued renter pool expansion. Population grew roughly 30% over the last five years, households expanded about 32%, and forecasts point to further population and household growth through 2028. The renter-occupied share is approximately 35% of housing units, providing meaningful depth for multifamily demand. Median household incomes are high locally, which can support stabilized collections while requiring thoughtful rent setting to manage affordability pressure.
Vintage context: the property was built in 2006, while the neighborhood’s average construction year skews newer (2018). Compared with nearby product, this suggests potential value-add or modernization upside alongside routine capital planning to remain competitive versus newer stock.
Safety indicators are mixed and generally around national averages. Overall crime sits near the national midpoint (crime safety around the 48th percentile nationally). Property offenses have improved materially year over year (one of the stronger improvements metro-wide), while recent violent offense trends ticked up, warranting routine monitoring and resident engagement practices.
Within the Raleigh–Cary metro context, neighborhood rankings indicate mid-pack performance among 331 neighborhoods, with notable progress on property crime in the past year. Investors should underwrite standard security measures and community management consistent with suburban assets in similar metro standing.
Proximity to Research Triangle Park anchors a strong employment base that supports commuter convenience and leasing stability. Key nearby employers include Cisco, Biogen, John Deere, and IQVIA, all within a short drive.
- Cisco Systems, Building 8 — technology offices (2.8 miles)
- Cisco Systems — technology offices (2.9 miles)
- Biogen Idec — biotechnology (3.2 miles)
- John Deere Morrisville Training Center — industrial equipment training (4.3 miles)
- Quintiles Transnational Holdings — life sciences services (5.2 miles) — HQ
This 28-unit, 2006-vintage asset sits in a high-income Cary submarket where elevated ownership costs and strong neighborhood occupancy support resilient multifamily demand. According to CRE market data from WDSuite, occupancy in the neighborhood is above many metro peers and schools are top-tier, aiding retention for family renters. The surrounding 3-mile area shows robust past and projected growth in population and households, expanding the tenant base and supporting leasing stability.
Relative to a neighborhood average vintage of 2018, the asset’s 2006 construction suggests value-add potential and the need for ongoing capital planning to stay competitive with newer supply. Lighter immediate amenity density and mixed-but-improving safety signals warrant prudent operations, but proximity to major RTP employers and a sizable professional renter pool provide durable demand drivers.
- High neighborhood occupancy and strong school ratings support retention and lease stability.
- High-cost ownership market reinforces renter reliance, with incomes supportive of collections and measured rent growth.
- 3-mile radius shows significant past and projected growth, enlarging the tenant base for multifamily.
- 2006 vintage versus newer neighborhood stock points to value-add and modernization opportunities.
- Risks: lighter amenity density, competition from newer builds, and mixed safety trends require active asset management.