| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 70th | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1201 Ridge Trace Dr, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 2008 |
| Units | 22 |
| Transaction Date | 2012-03-15 |
| Transaction Price | $42,050,000 |
| Buyer | DPR CENTERVIEW LLC |
| Seller | CENTENNIAL CENTERVIEW LP |
1201 Ridge Trace Dr Raleigh — 22-Unit 2008 Multifamily
Newer 2008 construction in a renter-heavy inner suburb supports a durable tenant base, according to WDSuite’s CRE market data, though neighborhood occupancy trends warrant active leasing management.
Competitive among Raleigh-Cary, NC neighborhoods (rank 85 of 331), this inner-suburb location combines everyday convenience with investor-oriented fundamentals. Restaurant density is strong relative to national norms, and grocery and pharmacy access score above average, while parks and cafés are limited—factors that shape resident lifestyle and can influence tenant retention strategies.
The property’s 2008 vintage is newer than the neighborhood’s average construction year (1984), which can offer a competitive edge versus older stock; investors should still underwrite for systems upkeep and potential modernization to sustain positioning.
Renter concentration is high at the neighborhood level (about 63% of housing units are renter-occupied), indicating depth in the tenant pool and potential demand stability for multifamily. Median contract rents in the neighborhood sit above national norms, while a moderate rent-to-income profile suggests manageable affordability pressure that can support pricing without overextending residents.
Within a 3-mile radius, recent data show flat-to-soft population trends alongside a modest uptick in households, pointing to smaller household sizes and continued reliance on rental housing. Forward-looking projections indicate increases in households and incomes by 2028, which would expand the renter pool and support occupancy and rent growth over time based on CRE market data from WDSuite.
School ratings in the vicinity are around the national midpoint, which may be less of a driver for rent premiums but is consistent with a mixed workforce tenant base common to inner-suburban locations.
Neighborhood safety indicators trend below national averages, with violent and property offense measures positioned on the weaker end of national percentiles. Metro comparisons are mixed, and conditions can vary by block, so investors typically consider lighting, access control, and security line items as part of underwriting and insurance planning.
Recent trends are mixed: estimated property offenses have declined year over year, while violent incidents show an uptick. These directional shifts underscore the importance of monitoring trajectory as part of asset management rather than relying on a single snapshot.
Proximity to insurance, industrial, and healthcare distribution employers supports commute convenience and reinforces workforce housing demand for this submarket. The list below highlights nearby offices that contribute to the renter base.
- MetLife Auto & Home Craig Conley LUTCF — insurance services (3.1 miles)
- Erie Insurance Group — insurance (4.5 miles)
- MetLife — insurance (6.0 miles)
- John Deere Morrisville Training Center — equipment training/industrial (7.5 miles)
- Amerisource Bergen — healthcare distribution (7.9 miles)
1201 Ridge Trace Dr offers a 22-unit multifamily asset with 2008 construction, positioning it competitively against older neighborhood stock while keeping an eye on normal capital planning for mid-life systems. The surrounding neighborhood shows a high share of renter-occupied housing units, above-average restaurant and daily-needs access, and home values that are elevated for the region—factors that reinforce reliance on multifamily rentals and can support lease retention. At the same time, softer neighborhood occupancy readings suggest the need for proactive leasing and asset management to maintain stability.
Within a 3-mile radius, households have edged higher and are projected to grow further alongside rising incomes, implying a broader tenant base and support for rent growth over the medium term, according to CRE market data from WDSuite. This combination of renter depth, commute access to diversified employers, and relatively newer vintage underpins the long-term thesis, with operational discipline around marketing and security as key levers.
- 2008 vintage provides competitive positioning versus older local stock with manageable modernization needs.
- High renter-occupied share indicates depth of tenant demand and supports leasing velocity.
- Elevated ownership costs in the area reinforce multifamily demand and potential pricing power.
- 3-mile household and income growth expand the renter pool, aiding occupancy stability over time.
- Risk: neighborhood occupancy is softer and safety metrics are below national averages—active leasing, security, and insurance planning are important.