| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 83rd | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Weather Ridge Ln, Cary, NC, 27513, US |
| Region / Metro | Cary |
| Year of Construction | 2004 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
200 Weather Ridge Ln, Cary NC Multifamily Opportunity
A 2004-vintage, 72-unit asset in an inner-suburb neighborhood with steady renter demand and mid-to-high occupancy for the area, according to WDSuite’s CRE market data. This positioning supports durable cash flow potential while allowing room for targeted upgrades.
The property is located in an Inner Suburb of Cary with an overall neighborhood rating of A and a rank of 27 among 331 Raleigh–Cary neighborhoods, signaling competitive positioning within the metro. Neighborhood occupancy is 94.7% (neighborhood metric), a level that supports leasing stability and renewal potential for multifamily operators.
Amenity access is a local strength: dining density ranks 44 of 331 and cafes rank 5 of 331, making the area competitive among Raleigh–Cary neighborhoods and in high national percentiles for these categories. Grocery options trend above national norms. While parks and pharmacies are limited within the immediate neighborhood boundary, broader Cary amenities are reachable by short drives, sustaining renter appeal.
The neighborhood’s renter concentration is measured at 34.1% of housing units (neighborhood metric), indicating a balanced tenure mix; paired with an average household size near two, this points to a steady but discerning renter base. Median contract rents in the neighborhood are above national medians and have grown over the past five years, yet the rent-to-income ratio of 0.19 (neighborhood metric) suggests manageable affordability pressure that can support retention and disciplined pricing.
Within a 3-mile radius, demographics show modest population growth over the past five years and a larger increase in households, with projections indicating continued household expansion alongside smaller average household sizes. For multifamily operators, this implies a gradually expanding tenant base and demand for smaller-format units, supporting occupancy stability. High educational attainment in the neighborhood (top national percentiles) and rising incomes within 3 miles reinforce depth of demand for quality rentals.
Safety indicators track near national midrange levels, per WDSuite’s data, with property and violent offense rates around national averages. Estimated property offense rates have improved over the past year, while violent offense trends show some recent uptick; underwriting should incorporate standard operating precautions and lighting/security best practices.
Relative to Raleigh–Cary peers, the area reflects an average-to-moderate risk profile rather than an outlier. Monitoring directionality over time is recommended as part of routine asset management, using neighborhood and submarket benchmarks instead of block-level assumptions.
Proximity to a diversified employment base supports renter demand and commute convenience, including MetLife, John Deere, Biogen, Cisco Systems, and Quintiles. These anchors span insurance, advanced manufacturing, biotech, and technology services, reinforcing leasing depth and retention.
- MetLife — insurance (2.7 miles)
- John Deere Morrisville Training Center — manufacturing training (3.5 miles)
- Biogen Idec — biotech (5.7 miles)
- Cisco Systems — networking & technology (6.3 miles)
- Quintiles Transnational Holdings — life sciences services (6.4 miles) — HQ
Constructed in 2004, the property is newer than the neighborhood’s average vintage (1998), offering competitive positioning versus older local stock while still allowing targeted modernization as systems age. Neighborhood occupancy is 94.7% (neighborhood metric), and rent growth has trended positively; the rent-to-income ratio of 0.19 suggests capacity for disciplined rent strategies without overextending affordability. Strong food-and-beverage density nearby aids lease-up and renewal performance.
Within a 3-mile radius, household counts have risen and are projected to expand further even as average household size declines, indicating a larger renter pool for smaller-format units. Rising incomes and an ownership market with elevated home values support multifamily demand and lease stability. According to CRE market data from WDSuite, the neighborhood ranks competitively within the metro and sits above national averages on several livability measures, while safety metrics track near national midrange—supporting stable underwriting with prudent reserves.
- 2004 vintage offers competitive positioning vs. older stock with targeted value-add potential
- Neighborhood occupancy of 94.7% supports leasing stability and renewal potential
- Household growth within 3 miles indicates a growing renter base for smaller units
- Amenity-rich dining and cafe access supports retention and pricing power
- Risks: limited parks/pharmacy access in-neighborhood and mixed recent safety trends warrant prudent reserves