| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 64th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 Greystone Common Dr, Knightdale, NC, 27545, US |
| Region / Metro | Knightdale |
| Year of Construction | 2006 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1001 Greystone Common Dr Knightdale Multifamily Investment
Neighborhood occupancy is strong and stable, with the surrounding area posting high utilization of existing units, according to WDSuite s CRE market data. This points to consistent renter demand in the Knightdale submarket rather than outsized lease-up risk at the property level.
Situated in Knightdale within the Raleigh Cary metro, the property benefits from an Inner Suburb location where neighborhood occupancy is 96.2% (neighborhood measure, not the property), indicating tight supply and steady renewal potential. Median contract rent in the neighborhood sits in the upper half of U.S. peers, and the rent-to-income profile is moderate, which can support pricing power without outsized retention risk.
Within a 3-mile radius, population and households have expanded materially in recent years, and projections call for further population growth and a meaningful increase in households by 2028. This points to a larger tenant base and continued renter pool expansion, supporting occupancy stability and absorption for well-positioned assets.
Neighborhood amenities skew toward daily needs over lifestyle offerings: grocery and pharmacy access rank above the metro median (84th and 64th out of 331, respectively), while parks and cafes are limited. Restaurant density is competitive among Raleigh Cary neighborhoods (70th of 331), aiding convenience for residents. School rating data are not available at this time.
The submarket s housing stock is older on average (neighborhood average construction year 1930), while this asset s 2006 vintage is newer than much of the competitive set. That positioning supports leasing versus older product, though investors should still plan for mid-life systems upgrades and selective modernization to sustain rent premiums.
Tenure patterns show a renter-occupied share near one-third at the neighborhood level, suggesting demand is present but balanced alongside ownership options. Median home values sit around national mid-range levels; in practice, this creates some competition from ownership while still reinforcing steady multifamily demand as households prioritize more accessible rental options and flexibility.
Safety indicators in the neighborhood are mixed when viewed against broader benchmarks. Compared with U.S. neighborhoods, safety sits below national averages (lower national percentiles indicate more reported crime), and the neighborhood ranks below the metro median on crime (183 out of 331 Raleigh Cary neighborhoods). Investors should underwrite prudent security measures and tenant screening consistent with submarket norms.
Recent trend data are directionally constructive: estimated property offenses have declined year over year, placing the neighborhood s improvement rate in a stronger national bracket. While this does not eliminate risk, it suggests near-term momentum that can complement on-site management practices.
Proximity to regional employers supports a commuter-friendly renter base and helps leasing stability for workforce and professional households. Notable employers within commuting distance include MetLife, Erie Insurance Group, John Deere s training center, AmerisourceBergen, and Quintiles Transnational Holdings.
- MetLife D insurance (16.8 miles)
- Erie Insurance Group D insurance (17.3 miles)
- John Deere Morrisville Training Center D manufacturing training (18.4 miles)
- Amerisource Bergen D pharmaceutical distribution (18.4 miles)
- Quintiles Transnational Holdings D clinical research (19.8 miles) D HQ
This 2006, 28-unit asset offers a newer-vintage alternative to much of the local stock, which is materially older at the neighborhood level. Neighborhood occupancy is elevated and has held firm, supporting renewal and lease-up performance relative to metro peers; based on commercial real estate analysis from WDSuite, local rents and rent-to-income dynamics are consistent with sustained demand rather than short-term volatility.
Within a 3-mile radius, population and households have grown and are projected to expand further, expanding the tenant base and helping support stabilized occupancy. Tenure is balanced, with roughly one-third renter-occupied units at the neighborhood level, suggesting steady but not oversaturated multifamily demand. Investors should plan for mid-life capital items typical for a 2006 build while leveraging competitive positioning versus older properties.
- Tight neighborhood occupancy supports leasing stability and renewal potential.
- Newer 2006 vintage versus older neighborhood stock enhances competitive positioning.
- 3-mile population and household growth expand the renter pool and demand depth.
- Balanced renter concentration implies steady demand without overreliance on one segment.
- Risks: below-metro-average safety metrics and limited parks/cafes warrant conservative underwriting and active asset management.