| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 65th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1217 N Broad St, Fuquay Varina, NC, 27526, US |
| Region / Metro | Fuquay Varina |
| Year of Construction | 1997 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1217 N Broad St Fuquay-Varina Multifamily Opportunity
Suburban fundamentals point to steady renter demand and occupancy resilience, according to WDSuite’s CRE market data. Neighborhood rents trend below national medians while homeownership costs skew higher locally, supporting a stable tenant base for a 1997-vintage asset.
The property sits within the Raleigh-Cary, NC metro in a suburban neighborhood rated B+ (rank 97 of 331), indicating performance competitive among Raleigh-Cary neighborhoods. Amenity access is balanced rather than urban—grocery, parks, and pharmacies index around the 70th national percentile—supporting day-to-day livability without relying on a dense cafe/restaurant footprint.
Multifamily metrics at the neighborhood level show occupancy near the national middle but leaning favorable (national percentile 57), a signal of demand that has been reasonably durable. The share of housing units that are renter-occupied is in the mid-20% range, implying a moderate renter concentration that can support leasing while still competing with ownership options.
Within a 3-mile radius, population and household counts have expanded materially over the past five years, with projections through 2028 pointing to continued population growth and a sizable increase in households. Slightly smaller average household sizes suggest more households relative to residents, which typically broadens the renter pool and supports occupancy stability.
Home values in the neighborhood sit above national norms (around the 74th percentile) while rents benchmark below national medians. For investors, this high-cost ownership market relative to incomes and a rent-to-income ratio near the top national percentiles for manageability point to supportive dynamics for tenant retention and measured pricing power, absent macro shocks.
Safety indicators compare favorably at the national level. Violent offense measures track in the top quartile nationally, and property offense metrics land around the top quintile—both comparatively strong for suburban North Carolina. Recent trends show notable improvement in violent offense rates year over year, while property offenses have seen an uptick; investors should underwrite with current data and monitor trendlines rather than block-level assumptions.
Relative to the Raleigh-Cary metro, these patterns suggest conditions above broader averages, though safety can vary within short distances. On-site security practices, lighting, and resident screening remain prudent operational considerations to sustain leasing stability.
The employment base draws from insurance, advanced manufacturing support, healthcare distribution, and corporate services, which can underpin workforce renter demand and commute convenience for this suburban location. Nearby employers include Erie Insurance Group, MetLife (including a local office), John Deere training facilities, and AmerisourceBergen.
- Erie Insurance Group — insurance services (9.5 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (11.0 miles)
- MetLife — insurance/financial services (15.8 miles)
- John Deere Morrisville Training Center — manufacturing training (16.5 miles)
- Amerisource Bergen — healthcare distribution (17.2 miles)
1217 N Broad St is a 27-unit, 1997-vintage multifamily asset positioned in a competitive suburban neighborhood within the Raleigh-Cary metro. Neighborhood occupancy trends are slightly above national midpoints, renter concentration is moderate, and home values are relatively elevated versus national norms—factors that collectively support renter reliance on multifamily housing and stable lease performance. Based on CRE market data from WDSuite, local rents benchmarking below national medians and a favorable rent-to-income profile point to retention and measured pricing power, subject to market conditions.
The 1997 construction suggests systems and finishes may benefit from targeted capital planning and light-to-moderate upgrades to enhance competitiveness against newer deliveries. Strong 3-mile demographic growth—both historical and projected—expands the prospective tenant base, while proximity to a diversified employment base supports leasing continuity through cycles.
- Competitive suburban location with occupancy trends above national midpoints
- Elevated home values and below-median rents support renter retention and pricing discipline
- 1997 vintage offers value-add potential through targeted renovations and system updates
- Expanding 3-mile population and household counts bolster the tenant pipeline
- Risks: moderate renter concentration and recent property offense uptick warrant conservative underwriting and ongoing monitoring