| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 71st | Good |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2000 Werrington Dr, Holly Springs, NC, 27540, US |
| Region / Metro | Holly Springs |
| Year of Construction | 2009 |
| Units | 32 |
| Transaction Date | 2009-02-02 |
| Transaction Price | $4,640,000 |
| Buyer | MSS APARTMENTS LLC |
| Seller | MSS DEVELOPMENT LLC |
2000 Werrington Dr, Holly Springs Multifamily Investment
Household and income growth within a 3-mile radius point to durable renter demand, according to WDSuite’s CRE market data, while a 2009 vintage supports competitive positioning versus older stock.
Holly Springs sits within the Raleigh–Cary metro and this neighborhood ranks 42 out of 331 metro neighborhoods, placing it in the top quartile locally for overall livability. Neighborhood-level occupancy is below the national median, so underwriting should lean on demand drivers rather than assuming outsized lease-up velocity; importantly, this rank-based strength reflects a balanced suburban profile rather than core urban intensity.
Within a 3-mile radius, population and households have expanded meaningfully over the past five years and are projected to continue growing, indicating a larger tenant base and supporting occupancy stability. Median household incomes in the same 3-mile area are high by regional standards and rising, which tends to support rent levels and renewal retention for quality multifamily properties.
Daily-needs access is a relative strength: grocery, parks, and pharmacy density are competitive among Raleigh–Cary neighborhoods, while cafe options are thinner. Childcare availability scores well, which aligns with the area’s family-oriented suburban mix. School rating averages were not available in the dataset and should be verified separately during diligence.
On pricing context, neighborhood home values are elevated for the region and rents have trended upward over five years. In investor terms, a high-cost ownership market can reinforce reliance on multifamily housing, supporting tenant retention and pricing power, though operators should still manage toward rent-to-income thresholds to mitigate affordability pressure.
Safety metrics compare favorably at both the metro and national levels. Based on CRE market data from WDSuite, the neighborhood’s safety ranks above the metro median among 331 Raleigh–Cary neighborhoods, and nationally the area sits in the upper half for overall crime safety.
Violent offense measures are strong, landing in the top quartile nationally relative to neighborhoods nationwide. Property offense measures also compare well nationally, though WDSuite’s time-series indicates a recent year-over-year uptick in property incidents; investors should account for standard security measures and monitor local trends during hold.
Proximity to insurance, advanced manufacturing, and life science/corporate services supports a diversified employment base that can deepen the renter pool and aid retention. Nearby employers include Erie Insurance, MetLife, John Deere’s training operations, 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 — manufacturing training (14.0 miles)
- Amerisource Bergen — pharmaceutical distribution (14.6 miles)
Built in 2009 with 32 units, 2000 Werrington Dr offers a relatively modern vintage for the submarket, supporting competitive appeal versus older product while leaving room for targeted modernization to drive rent premiums. Neighborhood-level ranks place the area in the top quartile among 331 Raleigh–Cary neighborhoods, and 3-mile demographics point to ongoing renter pool expansion and strong incomes that can sustain rent levels and support occupancy stability. According to CRE market data from WDSuite, neighborhood rents have moved upward over five years while ownership costs remain elevated, which can reinforce long-term reliance on multifamily housing.
Underwriting should acknowledge that neighborhood occupancy trends are below the national median and that renter concentration is modest in the immediate area; asset performance will rely on capturing demand from growing, higher-income households and delivering a quality, well-managed product.
- 2009 construction supports competitive positioning with potential value-add through selective modernization.
- Top-quartile neighborhood rank in the Raleigh–Cary metro signals strong local fundamentals.
- 3-mile population and household growth expand the tenant base and support leasing stability.
- High regional ownership costs can sustain renter reliance, aiding pricing power and renewals.
- Risk: Neighborhood occupancy sits below national norms; prudent leasing assumptions and active management are important.