| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 79th | Best |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 Duncan Vale Way, Cary, NC, 27511, US |
| Region / Metro | Cary |
| Year of Construction | 2010 |
| Units | 80 |
| Transaction Date | 2009-12-30 |
| Transaction Price | $900,000 |
| Buyer | HIGHLAND TERRACE LLC |
| Seller | DMC INC |
900 Duncan Vale Way Cary Multifamily Investment
2010-vintage, 80-unit asset in an inner-suburb pocket of Cary with neighborhood occupancy around 95% suggests steady renter demand, according to WDSuite’s CRE market data. Newer construction relative to nearby stock supports competitive positioning and predictable operations.
Situated in Cary’s Inner Suburb, the property benefits from a neighborhood rated A and ranked 19th among 331 Raleigh–Cary neighborhoods, indicating competitive fundamentals within the metro. Neighborhood occupancy is in the top quartile nationally, supporting lease stability and reducing downtime risk for operators.
Everyday convenience is a strength: restaurant and grocery density both sit in the upper national percentiles, and parks and cafes are similarly well represented. Average school ratings are also in the top quartile nationally, a factor that can aid resident retention for family households. The trade-off is limited pharmacy presence in the immediate area; operators may wish to highlight delivery options and proximate alternatives during leasing.
Vintage matters: with a 2010 construction year against an area average closer to mid-century, this asset should compare favorably to older stock on curb appeal and systems, while investors should still plan for mid-life replacements over the next hold.
Demographic statistics within a 3-mile radius show modest population growth, a larger increase in household count, and gradually smaller household sizes—factors that expand the tenant base while favoring efficient floor plans. Higher-income profiles in the radius support pricing power, while a lower rent-to-income ratio relative to national norms can aid lease retention. Elevated ownership costs in the surrounding market reinforce reliance on multifamily rentals, which supports occupancy and renewal performance.
Safety metrics trend near the national middle overall, with property crime somewhat higher than the national midpoint but improving year over year. Recent declines in both property and violent offense rates place the neighborhood above national medians for improvement momentum, which supports a more stable operating outlook.
Within the Raleigh–Cary metro, the neighborhood sits below the metro average for safety, so prudent on-site measures (lighting, access control, and resident engagement) remain important for asset management and marketing.
Proximity to established corporate offices underpins a deep white-collar renter base and commute convenience for residents, including MetLife, John Deere, AmerisourceBergen, Biogen, and Quintiles Transnational Holdings.
- MetLife — insurance (3.2 miles)
- John Deere Morrisville Training Center — industrial training (4.2 miles)
- AmerisourceBergen — healthcare distribution (4.8 miles)
- Biogen Idec — biotechnology (6.6 miles)
- Quintiles Transnational Holdings — life sciences R&D (7.1 miles) — HQ
The investment case centers on durable demand drivers and relative product strength. A 2010 construction year positions the asset competitively versus older neighborhood stock, while neighborhood occupancy in the top quartile nationally supports income stability. Amenity access (restaurants, groceries, parks, cafes) and strong school ratings bolster retention. Within a 3-mile radius, steady population growth and a faster rise in households indicate a larger tenant base, and higher incomes support achievable rent levels without outsized affordability pressure. Elevated ownership costs in the area reinforce reliance on rentals, sustaining depth of demand.
According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is high for the metro, signaling a deep pool of prospective tenants. While safety trends are improving, property crime sits near the national middle, so ongoing security and resident-experience investments remain prudent. Mid-life capital planning should be considered over the next cycle to maintain competitive positioning.
- 2010 vintage offers competitive positioning versus older local stock with manageable mid-life capital needs
- Neighborhood occupancy in the top quartile nationally supports income durability
- Amenity-rich location and strong school ratings enhance leasing velocity and retention
- 3-mile radius shows growing households and higher incomes, expanding the tenant base and supporting rent levels
- Risk: near-median safety profile—continue prudent security and resident-experience investments