| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 50th | Fair |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 906 Malabys Church Dr, Knightdale, NC, 27545, US |
| Region / Metro | Knightdale |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2012-10-11 |
| Transaction Price | $828,500 |
| Buyer | LAUREL CROSSING APARTMENTS LP |
| Seller | HOBBY COLON W |
906 Malabys Church Dr, Knightdale NC Multifamily Investment
Neighborhood data point to a solid renter base and steady leasing conditions, according to WDSuite’s CRE market data, with renter concentration supporting demand depth while homeownership costs in the area sustain reliance on rentals.
Knightdale’s inner-suburban setting offers practical appeal for workforce renters and small households. The neighborhood ranks 158 out of 331 in the Raleigh–Cary metro (rating: B), placing it above the metro median in several housing indicators and competitive among Raleigh–Cary neighborhoods on amenities (rank 116 of 331). Parks and pharmacies track around the 70th national percentile, while restaurants are moderate; cafes and childcare options are comparatively sparse. These dynamics suggest convenience for daily needs without the premium pricing often seen in higher-amenity cores.
Renter-occupied housing accounts for roughly 47.5% of neighborhood units (top tier versus national norms), indicating a sizable tenant base that can support leasing continuity. Neighborhood occupancy is around the middle of national comparisons, suggesting generally stable operations with routine turnover management rather than chronic vacancy risk.
Within a 3-mile radius, population increased by about 11.8% over the past five years and households grew roughly 21%, with WDSuite data indicating further gains ahead. This expansion points to a larger tenant pool and supports occupancy stability for well-managed assets. Forecasts show continued renter pool expansion through 2028 alongside a rising share of higher-income households, a combination that can underpin rent growth and retention.
Median neighborhood contract rents sit in the low-$1,300s with multi-year growth, while median home values trend above national averages. In investor terms, the high-cost ownership market reinforces rental demand and can aid lease retention, particularly as the rent-to-income profile (near one-fifth of income at the neighborhood level) suggests manageable affordability pressure for many renters. Average school ratings trend low relative to national norms, which may matter for family-oriented segments, but proximity to employment corridors and services can offset with commuter convenience.
Safety indicators for the neighborhood trail both metro and national benchmarks, based on WDSuite’s data. The area ranks 239 out of 331 within the Raleigh–Cary metro for crime, and national percentiles indicate relatively elevated property and violent offense exposure compared with many U.S. neighborhoods.
Recent year-over-year trends show increases in estimated offense rates, reinforcing the need for prudent security planning, lighting and access controls, and tenant screening. Investors typically underwrite to higher operating attention for safety in similar contexts and may prioritize visibility, property design, and partnerships with local resources to support resident experience and retention.
Proximity to major employers across insurance, life sciences, and healthcare services supports commuter demand and leasing durability for workforce-oriented units. The employers below reflect the nearby base most relevant to renter traffic from the Raleigh–Cary and Research Triangle corridors.
- MetLife — insurance (17.6 miles)
- Erie Insurance Group — insurance (18.2 miles)
- Amerisource Bergen — healthcare distribution (19.1 miles)
- John Deere Morrisville Training Center — manufacturing training (19.1 miles)
- Quintiles Transnational Holdings — life sciences (20.5 miles) — HQ
Built in 2013 with 24 units, the property offers relatively modern construction that can compete well against older submarket inventory while keeping near-term capital needs more predictable; targeted updates may still enhance positioning. Demand fundamentals are supported by a high neighborhood renter concentration and household growth within a 3-mile radius, while median home values above national norms reinforce renter reliance on multifamily. Neighborhood occupancy trends sit near broader benchmarks, pointing to steady operations where leasing execution and asset quality drive outcomes, according to CRE market data from WDSuite.
Investor focus points include workforce demand linked to regional employment centers, rent levels that align with local incomes, and the potential to capture incremental rent through renovations or amenity upgrades. Key underwriting considerations are safety-related operating practices and amenity-light surroundings, which can be mitigated through property-level offerings and professional management.
- 2013 vintage provides competitive positioning versus older stock with manageable near-term capex
- Strong renter-occupied share and 3-mile household growth support a deeper tenant base and occupancy stability
- Elevated local home values sustain rental demand and can aid retention and pricing power
- Risks: below-average safety metrics and thinner neighborhood amenities; address via security, on-site services, and targeted upgrades