| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 26th | Poor |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1601 Blue Ribbon Ln, Raleigh, NC, 27610, US |
| Region / Metro | Raleigh |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2000-12-12 |
| Transaction Price | $1,206,000 |
| Buyer | WALNUT RIDGE PARTNERS LTD PARTNERSHIP |
| Seller | RBAG/WALNUT CREEK LLC |
1601 Blue Ribbon Ln Raleigh Multifamily Investment
Neighborhood occupancy trends sit above the metro median and a high renter-occupied share supports depth of demand, according to WDSuite’s CRE market data.
Located in Raleigh’s inner-suburban east side, the area around 1601 Blue Ribbon Ln reflects working-household fundamentals that are relevant for multifamily investors. Neighborhood occupancy is 93.6% and ranks 161 out of 331 metro neighborhoods, placing it above the metro median and indicative of steady leasing capacity rather than peak tightness.
Renter-occupied housing accounts for a meaningful 48.4% of neighborhood units (87th percentile nationally), signaling a sizeable tenant base and supporting ongoing absorption and renewal potential. Median contract rents in the neighborhood track near the regional mid-range (61st national percentile) following multi-year growth, while the value-to-income ratio and median home values suggest a comparatively accessible ownership market for Raleigh, which can introduce some competition with for-sale options and moderate pricing power.
Livability is serviceable but light on immediate retail density. Amenity rank is 227 out of 331 in the metro, and counts for restaurants, groceries, parks, and pharmacies are limited within the neighborhood boundaries; however, childcare access rates better (around the 75th national percentile). For residents, this mix typically points to car-oriented living with daily needs met in adjacent corridors rather than within a short walk.
Within a 3-mile radius, demographics show a growing renter pool: population increased over the last five years with households up notably and further household growth projected, alongside a gradual shift toward smaller household sizes. These trends expand the local tenant base and should support occupancy stability and leasing velocity over a multi-year hold, based on CRE market data from WDSuite.
Safety indicators are mixed and should be considered in underwriting. The neighborhood’s overall crime rank sits near the metro middle (169 out of 331), while national comparisons indicate below-average safety. Violent and property offense rates benchmark in the lower national percentiles, though recent data show property offenses trending down year over year, an improving direction that investors may weigh alongside property-level security and management practices.
Employment access is anchored by insurance, healthcare distribution, and industrial/corporate training nodes to the west, supporting workforce housing demand and commute convenience for renters. The list below highlights nearby employers likely to contribute to leasing stability for this address.
- MetLife Auto & Home Craig Conley LUTCF — insurance offices (11.1 miles)
- Erie Insurance Group — insurance (12.2 miles)
- MetLife — insurance (13.0 miles)
- John Deere Morrisville Training Center — corporate training/industrial (14.6 miles)
- Amerisource Bergen — healthcare distribution (14.8 miles)
This 24-unit, 2001-vintage asset offers durable, workforce-oriented renter demand in an inner-suburban Raleigh location. Neighborhood occupancy is in the low-90s and above the metro median, with a high renter-occupied share that supports depth of tenant demand. Within a 3-mile radius, recent population and household growth, plus a projected increase in households and smaller household sizes, point to a larger renter base that can support retention and steady lease-up. According to CRE market data from WDSuite, neighborhood rents sit near the regional mid-range after multi-year growth, while median home values and value-to-income ratios indicate a relatively accessible ownership market—beneficial for broad housing liquidity but something to monitor for potential competition with rentals.
The 2001 construction vintage typically compares favorably to older 1980s stock in Raleigh, which can reduce near-term capital needs and provide light value-add or modernization levers to advance rents and resident experience. Investors should underwrite conservatively for safety perception and amenity-light micro-location, balancing these against stable occupancy, proximity to diversified employment, and demographic tailwinds in the surrounding radius.
- Above-median neighborhood occupancy supports leasing stability
- High renter-occupied share indicates depth of tenant demand
- 2001 vintage with potential for light value-add modernization
- 3-mile household growth and smaller household sizes expand renter pool
- Risks: below-average national safety benchmarks and amenity-light micro-location