| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 92nd | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 Saint Marys St, Raleigh, NC, 27605, US |
| Region / Metro | Raleigh |
| Year of Construction | 1980 |
| Units | 101 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
114 Saint Marys St Raleigh Multifamily Investment Position
Positioned in Raleigh s inner-suburban core, the 101-unit, 1980-vintage asset targets stable renter demand and value-add potential, according to WDSuite s CRE market data.
Located in an Inner Suburb of Raleigh, the neighborhood earns an A- rating and ranks 57 out of 331 metro neighborhoods, placing it above the metro median. Restaurant density is a standout (ranked 2 of 331; top percentile nationally), while everyday retail like grocery, parks, and pharmacies are limited within the immediate neighborhood. This mix suggests strong dining and lifestyle options nearby but the need for short commutes to certain daily-use amenities.
Multifamily fundamentals show a sizable renter base. The neighborhood s share of renter-occupied housing units is in the upper tier locally (ranked 38 of 331; high national percentile), signaling depth in the tenant pool and supporting leasing velocity. Neighborhood occupancy trends sit below the metro median (ranked 301 of 331), so operators should plan for assertive leasing and retention strategies to sustain occupancy stability.
Construction year averages skew newer in the neighborhood (average 1993), while this property s 1980 vintage is older. That makes targeted capital planning important: common-area updates, unit renovations, and system upgrades can enhance competitiveness against nearby 1990s and 2000s stock and create value-add upside.
Demographics aggregated within a 3-mile radius point to a growing renter pool: households have increased over the last five years and are projected to climb further by 2028, even as average household size trends smaller. Median incomes are strong for the metro, and elevated home values relative to incomes in the neighborhood context support continued reliance on rental housing, which can aid lease retention and pricing discipline over a full cycle.
Safety indicators in this neighborhood trend weaker than many parts of the metro and nation. The neighborhood s overall crime rank is 197 out of 331 Raleigh-area neighborhoods (below metro average), and national comparisons place the area in lower percentiles for safety. Recent data show property offenses declining year over year, while estimated violent offenses moved higher, underscoring a mixed trend that investors should monitor as part of ongoing asset management and tenant relations planning.
Proximity to major employers supports workforce housing demand and commute convenience, notably in insurance, healthcare distribution, and industrial training. The list below reflects nearby corporate offices most relevant to the resident base: MetLife, Erie Insurance Group, John Deere training, and AmerisourceBergen.
- MetLife Auto & Home Craig Conley LUTCF corporate offices (7.7 miles)
- MetLife corporate offices (9.1 miles)
- Erie Insurance Group corporate offices (9.2 miles)
- John Deere Morrisville Training Center industrial training (10.7 miles)
- Amerisource Bergen healthcare distribution (10.8 miles)
This 101-unit property offers a balanced value-add case in a well-rated Inner Suburb of Raleigh. While neighborhood occupancy trends run below the metro median, the area s high share of renter-occupied housing units indicates depth of demand and a larger tenant base to support leasing. Elevated home values within the neighborhood context reinforce reliance on rental housing and can sustain pricing power with disciplined lease management. According to CRE market data from WDSuite, local amenities skew toward strong dining access with limited immediate grocery and park options, favoring operators who program on-site services and convenience.
The 1980 vintage trails the neighborhood s average construction year, creating clear renovation and systems-upgrade pathways to reposition against newer competitive stock. Within a 3-mile radius, households have grown and are projected to expand further as average household size declines, a pattern that typically supports demand for smaller units and steady absorption. Nearby corporate offices add commuting convenience that can aid retention during turnover cycles.
- High renter-occupied concentration supports a deep tenant base and leasing stability
- 1980 vintage presents value-add and modernization upside versus newer neighborhood stock
- 3-mile household growth and smaller household sizes underpin ongoing multifamily demand
- Strong restaurant access and nearby employers enhance livability and retention
- Risk: Neighborhood occupancy ranks below metro median; requires active leasing and retention strategy