| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 71st | Good |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2000 Kentworth Dr, Holly Springs, NC, 27540, US |
| Region / Metro | Holly Springs |
| Year of Construction | 2009 |
| Units | 48 |
| Transaction Date | 2009-02-02 |
| Transaction Price | $4,640,000 |
| Buyer | MSS APARTMENTS LLC |
| Seller | MSS DEVELOPMENT LLC |
2000 Kentworth Dr, Holly Springs Multifamily Investment
Owner-leaning neighborhood dynamics point to a smaller but higher-income renter base and steady leasing potential, according to WDSuite’s CRE market data. Focus centers on demand durability rather than rapid lease-up, with pricing power supported by elevated ownership costs in Wake County.
Holly Springs offers suburban fundamentals within the Raleigh–Cary metro, with grocery, park, and restaurant access testing in the 80th-percentile range nationally while café density is limited. The neighborhood ranks 42 out of 331 metro neighborhoods (Competitive among Raleigh–Cary neighborhoods), reflecting balanced livability and demand drivers without urban intensity.
Neighborhood occupancy is 87.6% and below the national median, signaling room for operational execution to support stability. Rents have trended upward over the past five years, and the neighborhood’s renter-occupied share is modest (around one-quarter), which implies a thinner but potentially more stable tenant pool for professionally managed multifamily assets.
Within a 3-mile radius, population and households expanded strongly over the last five years and are projected to continue growing, indicating a larger tenant base over time. Household incomes are high for the region, and the local rent-to-income profile remains manageable, which can aid retention and reduce turnover risk for quality units.
Home values in the neighborhood are elevated relative to many U.S. areas and have appreciated meaningfully over five years. In investor terms, higher ownership costs tend to reinforce reliance on rental housing, supporting occupancy and renewal prospects when paired with good schools and family-oriented amenities typical of this suburban submarket.
Safety indicators for the area compare favorably at the national level, with violent and property offense measures scoring in the top quartile nationally based on WDSuite’s datasets. Recent readings show a year-over-year uptick in property offenses that investors should monitor, but the broader pattern remains comparatively strong versus many U.S. neighborhoods.
As always, safety can vary by block and over time; investors should underwrite using trend data and corroborate with local sources to gauge on-the-ground conditions and their implications for leasing and retention.
The local employment base is anchored by insurance, life-science distribution, and advanced manufacturing/training nodes that support commute convenience and renter demand. Nearby employers include Erie Insurance Group, MetLife (two sites), John Deere’s training center, and AmerisourceBergen.
- Erie Insurance Group — insurance (7.1 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance (8.8 miles)
- MetLife — insurance (13.4 miles)
- John Deere Morrisville Training Center — industrial equipment training (13.9 miles)
- Amerisource Bergen — pharmaceutical distribution (14.6 miles)
Built in 2009, the 48-unit asset at 2000 Kentworth Dr competes well against older suburban stock while leaving room for selective modernization to enhance renter appeal and NOI. Demand is underpinned by a high-income, family-oriented area with sustained household growth within a 3-mile radius, while elevated ownership costs in Wake County tend to support continued reliance on quality rentals. According to CRE market data from WDSuite, neighborhood occupancy sits below the national median, making operational focus on renewals, amenities, and unit finishes important for stabilizing performance.
Investor takeaways center on steady renter demand, balanced amenity access, and a diversified employment base across insurance, distribution, and advanced manufacturing/training. The renter pool is smaller due to strong homeownership, but projected population and household expansion indicate a broader leasing funnel over time—supporting cash flow durability for well-managed properties.
- 2009 vintage offers competitive positioning versus older stock, with value-add potential via targeted interior and common-area upgrades.
- High-income households and projected growth within 3 miles expand the tenant base and support retention.
- Elevated ownership costs reinforce rental demand, aiding pricing power for well-amenitized units.
- Employment access to insurance, life-science distribution, and advanced manufacturing/training supports leasing stability.
- Risks: neighborhood occupancy trails national medians; modest renter concentration and recent property offense uptick warrant conservative underwriting and active asset management.