| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 68th | Good |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10711 Nickleby Way, Raleigh, NC, 27614, US |
| Region / Metro | Raleigh |
| Year of Construction | 2007 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10711 Nickleby Way, Raleigh — 30-Unit Multifamily
Neighborhood fundamentals signal steady renter demand with a high share of renter-occupied housing and occupancy that trends above many peers, according to WDSuite’s CRE market data. For investors, the focus is stable leasing in an inner-suburban location with room to optimize operations.
The property sits in Raleigh’s Inner Suburb fabric with an A-rated neighborhood profile (ranked 26 out of 331 metro neighborhoods), indicating competitive positioning among Raleigh-Cary submarkets. Amenity access is a relative strength: restaurants and groceries rank competitively in the metro (e.g., restaurant and grocery density above metro median and around the top quartile nationally), which supports day-to-day convenience and leasing appeal.
Neighborhood renter concentration is high, with 63.8% of housing units renter-occupied (ranked 24 of 331), pointing to a deep tenant base and durable multifamily demand. Reported neighborhood occupancy of 94.5% sits above many U.S. neighborhoods, supporting income stability and retention strategies. Median contract rent in the neighborhood trends in the upper tier locally (72nd national percentile), consistent with serviceable pricing power for well-managed assets.
Within a 3-mile radius, population and household growth have expanded in recent years and are projected to continue, with forecasts indicating further population growth and a notable increase in households by 2028. This suggests a larger tenant base over time and supports occupancy stability for professionally managed communities. Average school ratings trend around the top quartile nationally, adding to location fundamentals that attract and retain renters.
Ownership costs are elevated relative to incomes (value-to-income ratio in a high national percentile), which typically reinforces reliance on rental housing and can support lease-up and retention in the multifamily segment. Median rent-to-income at the neighborhood level indicates manageable affordability pressure for many renters, aiding collections and renewal strategies. While nearby parks are limited within the neighborhood boundary, the broader amenity grid of cafes, childcare, pharmacies, and retail helps balance livability for residents.
Safety indicators for the neighborhood are below both metro and national medians, with crime metrics ranking in the lower tiers among 331 Raleigh-Cary neighborhoods and low national percentiles. Recent year-over-year trends indicate increases in both property and violent offenses. For investors, this suggests a need for active asset management — such as lighting, access controls, and partnership with professional security vendors — to support resident satisfaction and retention.
As with any urban-suburban location, conditions can vary by block and over time. Investors typically underwrite additional operating measures accordingly and monitor local enforcement and community initiatives as part of ongoing risk management.
Proximity to major corporate offices across insurance, life sciences, and technology supports a strong commuter renter base and reduces turnover risk for workforce-oriented units. The employers below reflect the nearest concentration influencing leasing demand.
- MetLife — insurance (16.2 miles)
- AmerisourceBergen — pharmaceutical distribution (16.8 miles)
- Quintiles Transnational Holdings — contract research organization (17.0 miles) — HQ
- John Deere Morrisville Training Center — industrial equipment training (17.2 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (18.3 miles)
- Biogen Idec — biotechnology (18.9 miles)
- Cisco Systems, Building 8 — networking & technology (19.3 miles)
- Cisco Systems — networking & technology (19.6 miles)
- Erie Insurance Group — insurance (20.1 miles)
Built in 2007, the 30-unit asset offers relatively modern construction for the submarket, which can reduce near-term capital needs while still leaving room for targeted upgrades to interiors, common areas, and building systems to enhance rents and retention. Neighborhood metrics show a high share of renter-occupied housing, above-median occupancy, and competitive amenity access — a combination that supports steady leasing and income durability. According to CRE market data from WDSuite, local rent levels and occupancy sit favorably versus many U.S. neighborhoods, reinforcing a case for stable operations with potential for disciplined value-add.
Within a 3-mile radius, population growth in recent years and projected increases in households through 2028 point to a larger tenant base and sustained renter demand. Elevated ownership costs relative to incomes in the neighborhood context tend to sustain reliance on multifamily housing, aiding lease-up and renewal prospects. Key underwriting considerations include proactive safety measures and asset-level enhancements to capture demand while managing affordability and retention risk.
- 2007 vintage offers modern systems with selective value-add and repositioning potential
- High renter-occupied share and above-median neighborhood occupancy support income stability
- Amenity-rich inner-suburban location underpins leasing and renewal rates
- Expanding 3-mile renter pool and household growth support demand durability
- Risks: below-median safety metrics and limited parks call for active management and resident experience investments