| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 75th | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Revere Crossing Ln, Cary, NC, 27519, US |
| Region / Metro | Cary |
| Year of Construction | 2000 |
| Units | 25 |
| Transaction Date | 2009-06-25 |
| Transaction Price | $28,100,000 |
| Buyer | WMCI RALEIGH V LLC |
| Seller | 2000 GEDDY HOUSE LANE APARTMENTS INVESTO |
100 Revere Crossing Ln, Cary NC Multifamily Near RTP
Neighborhood occupancy is high and incomes are strong, pointing to durable renter demand and steady leasing, according to WDSuite’s CRE market data. Pricing power is supported by an ownership-tilted area and elevated home values relative to the metro.
Set within suburban Cary in the Raleigh–Cary metro, the neighborhood rates B+ and trends “above metro median” for overall conditions (rank 107 of 331 neighborhoods). Neighborhood occupancy is 96.6%, indicating stable property-level leasing conditions are likely when assets are well-managed; this reflects neighborhood dynamics, not this specific property.
Livability supports family and professional renter profiles: average school ratings around 4.0 out of 5 place the area in the top quartile nationally, and childcare availability ranks competitively within the metro (rank 17 of 331). While on-block retail density is limited (few cafes, groceries, and restaurants within the immediate neighborhood), proximity to larger retail corridors and employment nodes in western Cary and Research Triangle Park typically offsets day-to-day convenience gaps for residents.
Income levels are elevated for the metro and compare well nationally, contributing to a low rent-to-income profile (about 12% at the neighborhood level). For multifamily investors, this combination supports retention and cushions against affordability pressure during renewal cycles. Home values in the neighborhood are also elevated versus national benchmarks, which tends to reinforce rental demand and sustain pricing power for quality units.
Tenure patterns point to depth for professionally managed rentals: the neighborhood shows roughly 29% of housing units as renter-occupied, implying limited direct competition from smaller, informal rentals. Within a 3-mile radius, demographics show population and household growth over the last five years, with additional expansion forecast—supporting a larger tenant base and helping maintain occupancy stability.
Safety signals are mixed but improving. Within the Raleigh–Cary metro, the neighborhood’s crime rank is 49 out of 331 (lower rank indicates higher crime), suggesting conditions are less favorable than many metro neighborhoods. Nationally, however, indicators trend closer to mid-to-better ranges, with violent offenses in a stronger position (about the 62nd percentile nationwide) and a notable year-over-year decline in violent incidents (top quintile improvement).
Property offenses track nearer the national middle and have eased modestly year over year. For investors, the key takeaway is that while the metro-relative standing warrants continued monitoring, the directional trend on violent crime is improving, and day-to-day risk management should focus on standard measures such as lighting, access control, and resident engagement.
The property sits near major Research Triangle employers that draw a skilled workforce and underpin renter demand, including advanced manufacturing, biopharma, networking, and financial services hubs listed below.
- John Deere Morrisville Training Center — advanced manufacturing training (2.3 miles)
- Biogen Idec — biopharma (2.6 miles)
- Cisco Systems — networking & enterprise technology (3.0 miles)
- MetLife — financial services (3.4 miles)
- Quintiles Transnational Holdings — clinical research (4.2 miles) — HQ
This 25-unit asset, built in 2000 (slightly older than the neighborhood’s early-2000s average), offers value-add and capital planning angles alongside durable demand drivers. Neighborhood occupancy around 96.6% and elevated household incomes support leasing stability and renewal capture, while high home values typically reinforce renter reliance on multifamily housing. Based on CRE market data from WDSuite, rent burdens are comparatively modest at the neighborhood level, suggesting manageable affordability pressure and potential for disciplined rent growth tied to upgrades.
Within a 3-mile radius, population and household counts have grown historically and are projected to expand further, indicating ongoing renter pool expansion near Research Triangle Park employment nodes. The area’s school quality and suburban positioning appeal to family and professional renters, though immediate walkable retail is limited—placing a premium on property amenities, curb appeal, and operational execution.
- High neighborhood occupancy and strong incomes support retention and pricing discipline
- Vintage 2000 creates clear value-add and modernization pathways versus newer stock
- Expanding 3-mile renter base tied to RTP employers underpins leasing demand
- Elevated home values bolster multifamily demand relative to ownership alternatives
- Risks: less favorable metro-relative crime ranking and limited immediate retail; mitigate via security, amenities, and operational focus