| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 68th | Good |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10810 Heather Meadow Ln, Raleigh, NC, 27614, US |
| Region / Metro | Raleigh |
| Year of Construction | 2002 |
| Units | 21 |
| Transaction Date | 2014-06-18 |
| Transaction Price | $40,046,500 |
| Buyer | COLUMNS AT WAKEFIELD PROPERTY LP |
| Seller | PASSCO COLUMNS DST |
10810 Heather Meadow Ln, Raleigh Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy, according to WDSuite’s CRE market data, with a renter-occupied housing share that supports leasing depth at this scale.
Located in Raleigh’s inner suburbs, the neighborhood rates competitive among Raleigh-Cary’s 331 neighborhoods (overall grade A; neighborhood rank 26 of 331), indicating solid location fundamentals for a 21-unit asset. Neighborhood occupancy is above the national median, and the renter-occupied share is high for the metro, both supportive of tenant demand and leasing stability at the property level.
Amenities are a relative strength: amenity rank 29 of 331 is competitive among Raleigh neighborhoods, with dining and cafes also competitive (restaurant rank 53 of 331; cafe rank 28 of 331). Grocery and pharmacy access track above national medians. Park access is limited (park rank 331 of 331), so investors should not underwrite a parks-driven lifestyle appeal; instead, positioning can emphasize nearby retail and services.
Schools are a positive signal for family-oriented renters: the neighborhood’s average school rating is in the top quartile nationally and competitive within the metro (rank 61 of 331). Median contract rents in the neighborhood sit above national medians, while rent-to-income ratios are below national averages, suggesting manageable affordability pressure that can aid retention and reduce turnover risk.
Within a 3-mile radius, demographics show a larger tenant base over time: population and households have grown and are projected to expand further by 2028, with households outpacing population growth—pointing to smaller household sizes and more renters entering the market. Higher local home values relative to incomes (top quintile nationally by value-to-income) create a high-cost ownership market, which tends to reinforce reliance on multifamily rentals and supports occupancy resilience.
The 2002 construction date offers a competitive position versus older stock in nearby submarkets; investors should plan for targeted systems modernization and common-area updates to sustain rent competitiveness and support value-add premiums.
Safety indicators trail both metro and national benchmarks. The neighborhood’s crime rank sits in the lower half of Raleigh-Cary’s 331 neighborhoods (rank 237 of 331), and national percentiles indicate it performs below most neighborhoods nationwide. For investors, this argues for prudent operating practices, enhanced property lighting/access control, and realistic underwriting for security-related expenses.
Recent trend data shows property and violent offense rates increased year over year at the neighborhood level. While individual property experiences can differ, a conservative approach to tenant screening, site design, and community engagement can help mitigate volatility and support retention.
Proximity to major corporate employers across RTP supports a broad commuter tenant base and leasing durability. Notable nearby employers include MetLife, AmerisourceBergen, IQVIA (Quintiles), John Deere training facilities, and Cisco.
- MetLife — insurance (16.0 miles)
- AmerisourceBergen — pharma distribution (16.7 miles)
- Quintiles Transnational Holdings — life sciences CRO (16.8 miles) — HQ
- John Deere Morrisville Training Center — industrial training (17.0 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance (18.3 miles)
- Biogen Idec — biotechnology (18.7 miles)
- Cisco Systems, Building 8 — networking equipment (19.2 miles)
- Cisco Systems — networking equipment (19.4 miles)
- Erie Insurance Group — insurance (20.0 miles)
This 21-unit asset at 10810 Heather Meadow Ln benefits from a competitive inner-suburban location where neighborhood occupancy trends remain above the national median and the share of renter-occupied housing is high for the metro—signals of durable leasing depth. The 2002 vintage should compare favorably to older Raleigh stock; targeted interior and systems updates can enhance positioning against newer deliveries while supporting rent growth. According to CRE market data from WDSuite, local home values relative to incomes trend high, reinforcing rental reliance and supporting pricing power without overextending rent-to-income levels seen in many coastal markets.
Within a 3-mile radius, population and household counts have grown and are projected to expand further by 2028, indicating a larger tenant base and potential for occupancy stability. Limited park access suggests marketing and amenity strategy should emphasize convenience to retail, services, and major employment nodes in RTP, while underwriting should account for security best practices given neighborhood-level safety signals.
- Competitive inner-suburban location with above-median neighborhood occupancy supporting lease-up and retention
- 2002 vintage offers value-add potential through targeted renovations and systems modernization
- High-cost ownership market sustains multifamily renter demand and pricing power
- Expanding 3-mile household base supports a larger tenant pool and occupancy stability over the medium term
- Risks: below-average safety signals and limited park access warrant prudent operating practices and realistic underwriting