| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 76th | Best |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Holly Field Dr, Morrisville, NC, 27560, US |
| Region / Metro | Morrisville |
| Year of Construction | 2000 |
| Units | 20 |
| Transaction Date | 2011-10-06 |
| Transaction Price | $28,500,000 |
| Buyer | MCREF WATERFORD LLC |
| Seller | AMFP IV WATERFORD LLC |
1000 Holly Field Dr Morrisville 20-Unit Multifamily Opportunity
Renter concentration in the neighborhood sits in the top quartile locally, supporting a deeper tenant base and steadier leasing, according to WDSuite’s CRE market data. Strong nearby school ratings add a family-friendly draw that can aid retention even through cycles.
Situated in Morrisville within the Raleigh–Cary metro, the neighborhood carries a B rating (ranked 128 of 331 metro neighborhoods), indicating broadly solid fundamentals for workforce and professional renters. Restaurants are a relative strength—ranked in the top quartile among 331 metro neighborhoods and in a high national percentile—while park access is also a standout with a top-quartile metro rank. Immediate retail convenience is more mixed based on sparse café, grocery, and pharmacy counts within the neighborhood footprint, so residents may rely on nearby corridors for daily needs.
School quality is a core advantage: the neighborhood’s average school rating ranks 1st among 331 metro neighborhoods and sits in the top national percentile, a differentiator for family-oriented demand and lease stability. Home values trend elevated (high national percentile), which typically reinforces renter reliance on multifamily housing and can strengthen pricing power relative to more ownership-accessible submarkets.
The share of renter-occupied housing units is high (top quartile among 331 metro neighborhoods and strong nationally), signaling depth in the tenant pool for multifamily operators. Neighborhood occupancy trends sit around the national midpoint and below the metro median, which suggests leasing conditions are competitive; disciplined asset management and amenity positioning remain important for maintaining occupancy.
Within a 3-mile radius, population and household counts have expanded meaningfully over the last five years, with additional growth forecast over the next five years. This points to continued renter pool expansion and supports demand for professionally managed units. Median household incomes are high both in the neighborhood dataset and in the 3-mile view, while rent-to-income ratios near the national midpoint indicate manageable affordability pressure—supportive for renewal rates and lease management.
Vintage also helps competitive positioning: with a 2000 construction year against a neighborhood average vintage in the late 1970s, the property is newer than much of the local stock. Investors should still plan for modernization of aging systems and common areas to meet current renter expectations, but the relative age advantage can aid leasing versus older comparables.
Neighborhood safety indicators track close to the metro midpoint and below the national median overall, based on WDSuite’s crime benchmarks. Property-related incidents benchmark better nationally than violent categories, which read closer to the national midpoint. Recent year-over-year readings indicate volatility, so investors should monitor trend direction rather than any single data point.
In practical terms, this places the area as competitive among Raleigh–Cary neighborhoods rather than a top-tier safety outlier. Standard measures—good lighting, access control, and visible management presence—can help maintain resident confidence and support retention.
Proximity to major employers in and around Research Triangle Park underpins weekday demand and commute convenience for residents. The employers below reflect a mix of life sciences, technology, and insurance services that broaden the local renter base.
- John Deere Morrisville Training Center — industrial equipment training (0.6 miles)
- AmerisourceBergen — pharmaceutical distribution (1.2 miles)
- MetLife — insurance (1.9 miles)
- Biogen Idec — biotechnology (2.6 miles)
- Quintiles Transnational Holdings — clinical research (3.2 miles) — HQ
This 20-unit asset at 1000 Holly Field Dr benefits from strong local demand drivers: a top-ranked school cluster, a renter-occupied share in the top quartile locally, and proximity to major RTP employers that support weekday occupancy and renewal stability. Neighborhood occupancy trends sit around the national midpoint and below the metro median, so disciplined leasing and amenity execution are important. The 2000 construction year provides a relative edge versus older neighborhood stock, while still leaving room for targeted value-add and systems updates.
Elevated home values in the neighborhood and high incomes within a 3-mile radius reinforce reliance on quality rental housing, supporting pricing power without pushing rent-to-income ratios excessively; according to CRE market data from WDSuite, rent levels and income benchmarks indicate manageable affordability pressure that can aid retention. Ongoing population and household growth within 3 miles suggests a larger tenant base over the next cycle.
- Renter concentration in the top quartile locally supports a deeper tenant base and steadier leasing.
- Top-ranked neighborhood schools and proximity to RTP employers bolster demand and renewal prospects.
- 2000 vintage offers a competitive edge over older stock, with clear value-add and modernization pathways.
- Elevated ownership costs sustain reliance on multifamily rentals, supporting pricing power and occupancy stability.
- Risk: Neighborhood occupancy trends are below the metro median; execution on amenities and leasing strategy is key.