| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 71st | Good |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1200 Alemany St, Morrisville, NC, 27560, US |
| Region / Metro | Morrisville |
| Year of Construction | 2009 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1200 Alemany St Morrisville Multifamily Investment
Positioned in an A+ inner suburb of Raleigh-Cary, the neighborhood shows strong occupancy and durable renter demand, according to WDSuite’s CRE market data. For investors, the combination of a 2009 vintage and stable neighborhood-level fundamentals supports income consistency with potential to enhance competitiveness over time.
The property sits in an amenity-rich Morrisville location that ranks 1st among 331 Raleigh-Cary neighborhoods for overall amenity access and falls in the top decile nationally. Dense nearby options for groceries, parks, cafes, and daily needs reduce commute friction and support leasing velocity and renewal potential.
Neighborhood-level occupancy trends are top quartile nationally, signaling steady renter demand and limited downtime between turns. Median contract rents in the neighborhood are competitive among Raleigh-Cary neighborhoods, which aligns with the area’s higher-income resident profile and suggests room for disciplined revenue management rather than reliance on aggressive concessions.
Within a 3-mile radius, demographics indicate recent population and household growth with further gains projected through 2028. This points to a larger tenant base and continued renter pool expansion, which can support occupancy stability and absorption of renovated units.
Home values in the neighborhood are elevated by local standards, reinforcing reliance on multifamily housing for many households and supporting pricing power. Renter-occupied share at the neighborhood level is moderate, indicating a balanced pool of prospective tenants without overconcentration; for investors, this typically translates to steady demand supported by strong area incomes and employment access.
Neighborhood safety indicators are around the metro median when compared with 331 Raleigh-Cary neighborhoods, and below the national median overall. Recent estimates show some year-over-year volatility in violent-offense metrics; investors should underwrite to current trends and consider standard security, lighting, and access controls as appropriate for similar inner-suburban assets.
Proximity to major corporate offices underpins weekday traffic and supports a stable renter base seeking short commutes. Key nearby employers include John Deere, AmerisourceBergen, MetLife, Biogen, and Quintiles.
- John Deere Morrisville Training Center — corporate training (1.7 miles)
- Amerisource Bergen — pharmaceutical distribution offices (2.3 miles)
- MetLife — financial services offices (2.6 miles)
- Biogen Idec — biotech offices (2.9 miles)
- Quintiles Transnational Holdings — life sciences services (4.1 miles) — HQ
1200 Alemany St is a 24-unit asset built in 2009, giving it a competitive edge versus older neighborhood stock while leaving room for targeted modernization to drive rent premiums. Neighborhood fundamentals are strong: amenity access ranks at the top of the Raleigh-Cary metro, occupancy is robust, and elevated home values support sustained reliance on rentals. Based on commercial real estate analysis from WDSuite, the area’s high-income profile and competitive neighborhood rents point to stable collections and measured pricing power rather than outsized concessions.
Within a 3-mile radius, recent and projected gains in population and households expand the tenant base and support occupancy stability. A moderate neighborhood renter concentration indicates durable multifamily demand without oversaturation, while the ownership cost backdrop favors retention and renewal. Investors should still plan for mid-life systems and common-area updates typical for a 2009 vintage, and monitor safety metrics that are closer to metro averages.
- Amenity-rich A+ location with top-ranked neighborhood access to daily needs, supporting leasing velocity and renewals
- Strong neighborhood occupancy and competitive rents support income durability and disciplined revenue management
- 2009 vintage offers competitive positioning versus older stock with value-add potential through targeted upgrades
- Growing 3-mile population and household counts expand the renter pool and support absorption
- Risks: safety metrics near metro median and mid-life capex needs warrant prudent underwriting and contingency planning