| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 70th | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1200 Silver Sage Dr, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 2008 |
| Units | 26 |
| Transaction Date | 2006-12-08 |
| Transaction Price | $4,914,000 |
| Buyer | CENTERVIEW ACQUISITION LP |
| Seller | DPR CENTERVIEW LLC |
1200 Silver Sage Dr Raleigh Multifamily Opportunity
Newer 2008 asset in a renter-heavy Raleigh inner suburb where elevated ownership costs support consistent apartment demand, according to WDSuite’s CRE market data. One clear takeaway for investors: neighborhood-level renter concentration and income growth underpin leasing stability even as local occupancy trends warrant close monitoring.
This Inner Suburb neighborhood of Raleigh (measured at the neighborhood level, not the property) rates A- and is competitive among Raleigh-Cary neighborhoods (rank 85 of 331), with a tenant base reinforced by a high share of renter-occupied housing units (about the mid-90s national percentile). Median contract rents in the neighborhood sit in the low-70s national percentile, suggesting durable pricing power relative to many U.S. locations while still maintaining a rent-to-income profile around the one-third national range, per commercial real estate analysis from WDSuite.
Amenity access skews pragmatic: restaurants score in the 84th percentile nationally, grocery and pharmacies land around the 60th–83rd percentiles, and childcare density is strong (low-80s percentile). Parks and cafes are comparatively limited, so on-site or nearby private amenities may matter for retention. Average school ratings in the neighborhood are near the national middle, which can moderate demand from family renters but doesn’t typically deter young professionals.
The neighborhood’s average construction year is 1984, while the subject property was built in 2008. The newer vintage positions the asset favorably versus older local stock, with potential competitiveness on layouts and building systems; investors should still underwrite periodic modernization to keep pace with newer deliveries.
Within a 3-mile radius, demographics indicate a sizable renter pool today (roughly six in ten units renter-occupied) and a projected increase in households through 2028, alongside slightly smaller average household sizes. This combination points to a larger tenant base and steady absorption potential that can support occupancy stability and lease-up efficiency at comparable properties.
Home values in the neighborhood sit in the mid-70s national percentile and value-to-income ratios are elevated versus many U.S. areas. This high-cost ownership market tends to sustain rental demand and can aid lease retention, especially when paired with incomes that track above national medians at the neighborhood level.
Neighborhood safety indicators should be evaluated carefully. Relative to the Raleigh-Cary metro, the area’s overall crime rank sits around the metro median (165 of 331 neighborhoods). Nationally, the neighborhood’s safety positioning is weaker: violent offense metrics are in a low national percentile and property offenses are also low on a national percentile basis, indicating higher incidence than many U.S. neighborhoods.
Trend-wise, neighborhood data show a year-over-year decline in property offense rates, which is a constructive signal, while recent violent offense trends moved higher. Investors typically address this by emphasizing lighting, access control, and security partnerships, and by pricing risk appropriately in operations.
Proximity to major employers supports workforce housing demand and commuting convenience. Key nearby employers include MetLife, John Deere, AmerisourceBergen, Quintiles Transnational Holdings, and Cisco Systems, which together help deepen the local renter base.
- MetLife — insurance (6.2 miles)
- John Deere Morrisville Training Center — equipment manufacturing/training (7.6 miles)
- Amerisource Bergen — pharmaceutical distribution (8.1 miles)
- Quintiles Transnational Holdings — life sciences/clinical research (10.3 miles) — HQ
- Cisco Systems — networking/technology (11.0 miles)
Built in 2008 with 26 units, the property offers a newer-vintage position against a neighborhood average of 1984, which can translate to relative competitiveness on finishes and systems versus older stock. Renter concentration at the neighborhood level is high, and elevated ownership costs reinforce reliance on multifamily housing, supporting demand and lease retention. According to CRE market data from WDSuite, neighborhood rents track in the low-70s national percentile while rent-to-income remains manageable, indicating room for disciplined revenue management.
Within a 3-mile radius, projections to 2028 point to an increase in households and a modest population uptick, alongside smaller household sizes—signals that generally expand the renter pool and can support occupancy stability. Key risks to underwrite include neighborhood safety metrics that lag national benchmarks, limited park/cafe amenities, and school ratings near the national middle, any of which may influence tenant mix and marketing spend.
- 2008 vintage vs. 1980s neighborhood average supports competitive positioning with moderate capex needs
- Renter-heavy neighborhood and elevated ownership costs sustain multifamily demand and lease retention
- Neighborhood rents and incomes support disciplined pricing power without overextending affordability
- 3-mile household growth and smaller household sizes expand the renter pool and aid absorption
- Risks: below-average national safety metrics, limited parks/cafes, and middling school ratings may affect tenant mix