| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 64th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1010 Topsail Common Dr, Knightdale, NC, 27545, US |
| Region / Metro | Knightdale |
| Year of Construction | 2006 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1010 Topsail Common Dr Knightdale NC Multifamily
Neighborhood occupancy is competitive versus the Raleigh-Cary metro, supporting stable leasing fundamentals, according to WDSuite’s CRE market data. Household growth within a 3-mile radius points to a deeper renter pool that can reinforce retention as new supply competes nearby.
Knightdale’s Inner Suburb setting offers practical access to daily needs with a concentration of grocery and pharmacy options that trends above national averages, while restaurant density is also comparatively strong. Park and cafe coverage are thinner, so resident appeal leans more toward convenient retail and services than lifestyle amenities.
The neighborhood posts a high occupancy rate (96.2%), ranking 106 out of 331 Raleigh-Cary neighborhoods — competitive among metro peers and in the top quartile nationally. This suggests steady in-place demand and supports underwriting for consistent collections. The renter-occupied share is roughly a third of housing units, indicating a meaningful but not dominant renter base that can sustain multifamily leasing without overreliance on transient demand.
Within a 3-mile radius, population and households have expanded over the last five years, with forecasts calling for further growth through 2028. A rising household count and a sizable working-age population signal a larger tenant base, which can support occupancy stability and absorption for well-positioned assets. Median contract rents in the neighborhood sit near regional mid-range levels, and a rent-to-income profile around the middle of national norms points to manageable affordability pressure for most renters — a positive for retention and renewal strategies.
Constructed in 2006, the property is newer than much of the local housing stock (neighborhood average vintage skews older). That positioning can be a competitive advantage versus legacy assets, while still warranting targeted modernization and systems planning over a hold to support rent trade-outs and leasing velocity.
Home values in the area are moderate relative to many U.S. metros. This context can create some competition from ownership for higher-income households, but it also supports durable rental demand among residents prioritizing flexibility, helping limit move-outs purely for cost reasons and aiding pricing power at renewal.
Safety metrics for the neighborhood trail national averages, with a crime rank of 183 among 331 Raleigh-Cary neighborhoods, indicating conditions below the metro median. Nationally benchmarked indicators place the area in lower safety percentiles; however, property offense rates have shown a notable year-over-year decline, suggesting recent improvement momentum. Investors should underwrite to these mixed signals and consider how on-site security, lighting, and resident engagement may support retention.
Proximity to insurance, life sciences, and logistics employers in Greater Raleigh-Durham underpins commuter convenience and supports workforce renter demand for assets in Knightdale. The following nearby employers anchor the area’s employment base:
- MetLife — insurance (16.9 miles)
- Erie Insurance Group — insurance (17.4 miles)
- Amerisource Bergen — pharmaceutical distribution (18.5 miles)
- John Deere Morrisville Training Center — industrial equipment training (18.5 miles)
- Quintiles Transnational Holdings — contract research (19.9 miles) — HQ
This 24-unit, 2006-vintage asset benefits from a neighborhood occupancy rate that sits above the Raleigh-Cary metro median and in strong national standing, supporting expectations for stable collections and limited downtime. Within a 3-mile radius, population and households have expanded and are projected to continue growing, indicating a larger tenant base that can sustain absorption. According to CRE market data from WDSuite, the area’s rent levels and rent-to-income dynamics are mid-range, which supports renewal strategies without overextending affordability for most renters.
The property’s comparatively newer vintage provides a competitive edge over older stock, while still allowing room for targeted value-add through interior updates and systems planning to drive rent trade-ups. Moderate ownership costs in the area may create some competition for higher-income households, but the neighborhood’s renter concentration, employment access, and ongoing household growth trends help support leasing depth and occupancy stability over a hold period.
- Competitive neighborhood occupancy versus metro and strong national standing supports stable leasing
- 3-mile population and household growth expands the renter pool and supports absorption
- 2006 vintage offers relative competitiveness with potential for targeted value-add
- Mid-range rent-to-income dynamics aid renewal efforts and pricing discipline
- Risks: below-average safety metrics and some competition from ownership options warrant conservative underwriting