| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 64th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 107 Luxury Ln, Knightdale, NC, 27545, US |
| Region / Metro | Knightdale |
| Year of Construction | 1997 |
| Units | 100 |
| Transaction Date | 2018-07-23 |
| Transaction Price | $10,000,000 |
| Buyer | Hallmark Park Place LLC |
| Seller | --- |
107 Luxury Ln Knightdale Multifamily Investment
Neighborhood occupancy is competitive among Raleigh-Cary areas, supporting stable leasing conditions according to WDSuite’s CRE market data. Investors can screen this asset as a steady performer within an inner-suburb location that benefits from growing household counts.
Knightdale’s inner-suburb setting balances access to Raleigh-Cary employment with a residential feel. The neighborhood carries a B rating and ranks 134 out of 331 metro neighborhoods, placing it above the metro median. Restaurant and daily-needs access trend solidly (national percentiles in the upper 60s to low 70s for grocery, pharmacy, and restaurants), while cafes and formal park space are more limited. For investors, this mix points to practical renter appeal with fewer lifestyle amenities concentrated immediately nearby.
Neighborhood occupancy stands in a strong national position (78th percentile) and is competitive among Raleigh-Cary neighborhoods (rank 106 of 331), a positive indicator for rent roll durability. Median contract rents in the neighborhood sit in the upper half nationally, and the rent-to-income ratio remains moderate, which can help manage affordability pressure and support retention.
Tenure data indicates roughly one-third of housing units are renter-occupied, suggesting a defined but not saturated renter base. That balance typically supports steady multifamily demand without excessive competition from neighboring rentals. Compared with older local stock (average construction year measured for the neighborhood), 1990s-vintage communities can compete well on finishes and layouts while still benefiting from targeted upgrades.
Within a 3-mile radius, demographics show population and households have expanded over the past five years, with forecasts calling for continued growth through 2028. A larger household base and rising incomes point to a deeper tenant pool, which can support occupancy stability and thoughtful rent setting. Home values are elevated relative to incomes in a regional context, reinforcing sustained reliance on multifamily housing rather than accelerating move-outs to ownership. Based on multifamily property research from WDSuite, these dynamics align with resilient renter demand in growth corridors.
Safety indicators are mixed and should be evaluated in context. The neighborhood sits below the metro median on crime (ranked 183 of 331), and national safety percentiles are on the lower side. However, recent trends show estimated property offenses declining materially year over year, which is a constructive signal for investors monitoring operating risk and asset protection strategies.
Given the variability across Raleigh-Cary neighborhoods, prudent underwriting would benchmark security measures, lighting, and resident engagement against competitive assets. Directionally improving property crime trends, as reflected in WDSuite’s CRE market data, can support resident retention, though investors should still plan for standard safety protocols.
Proximity to diversified employment anchors across insurance, life sciences, distribution, and advanced manufacturing underpins commuter convenience and broadens the renter pool for workforce and professional households highlighted below.
- MetLife — insurance (17.68 miles)
- Erie Insurance Group — insurance (18.11 miles)
- John Deere Morrisville Training Center — ag equipment training (19.22 miles)
- Amerisource Bergen — pharma distribution (19.23 miles)
- Quintiles Transnational Holdings — clinical research (20.64 miles) — HQ
Built in 1997 with 100 units averaging 939 square feet, the property offers functional layouts and a competitive position against older neighborhood stock while retaining room for targeted value-add upgrades and systems modernization. Neighborhood occupancy sits in a nationally strong tier and is competitive among Raleigh-Cary neighborhoods, supporting stable cash flow prospects relative to peers.
Within a 3-mile radius, population and households have grown and are projected to continue expanding through 2028, pointing to a larger tenant base and support for occupancy stability. Ownership costs remain elevated relative to incomes in the area, which can sustain reliance on multifamily housing and provide measured pricing power where management execution is strong, according to commercial real estate analysis from WDSuite.
- 1997 vintage: competitive versus older stock with selective value-add and capital planning opportunities
- Competitive neighborhood occupancy (rank 106 of 331; strong national percentile) supports leasing durability
- 3-mile growth in population and households indicates a larger renter pool and support for rent roll stability
- Elevated ownership costs relative to incomes reinforce multifamily demand and potential pricing power
- Risks: below-metro-median safety ranking and limited nearby parks/cafes; mitigate with operations, amenities, and security focus