| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 61st | Fair |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1650 Royal Pines Dr, Raleigh, NC, 27610, US |
| Region / Metro | Raleigh |
| Year of Construction | 2000 |
| Units | 48 |
| Transaction Date | 2018-04-16 |
| Transaction Price | $3,255,000 |
| Buyer | ROYAL PINES HOLDINGS LLC |
| Seller | PINE HILLS RESIDENTIAL LLC |
1650 Royal Pines Dr Raleigh Multifamily Investment
Neighborhood occupancy near 92% suggests stable tenant retention potential in an inner-suburb location, according to WDSuite’s CRE market data. Renter demand is supported by a sizable renter-occupied share at the neighborhood level; metrics cited here reflect neighborhood conditions, not the property.
The property sits in Raleigh’s Inner Suburb context and is competitive among Raleigh-Cary neighborhoods (ranked 104 of 331). Local livability signals are balanced rather than flashy: restaurants per square mile trend in the top quartile nationally, while parks access also scores in the top quartile, indicating day-to-day convenience and recreation that can help with leasing and renewals. Grocery density is a relative strength versus many U.S. neighborhoods, while cafes and pharmacies are thinner locally — a modest service gap investors should factor into resident-experience planning.
Schools in the surrounding area are a differentiator, with the neighborhood’s average school rating at the top of 331 metro neighborhoods and at the 100th percentile nationally. For family renters, stronger school options can aid length of stay and support occupancy stability relative to metro peers.
At the neighborhood level, the share of housing units that are renter-occupied is high (near half), indicating a deep tenant base for multifamily assets. Within a 3-mile radius, households have grown over the last five years and are projected to continue increasing, pointing to a larger tenant base and sustained demand for rental units. Median contract rents in the 3-mile radius have risen, yet neighborhood rent-to-income levels suggest manageable affordability, supporting lease retention.
Ownership costs in the neighborhood are elevated versus national norms, and the value-to-income ratio sits in the top decile nationally. In practice, a high-cost ownership market can reinforce renter reliance on multifamily housing, helping landlords maintain occupancy and pricing power, particularly when paired with strong school options and daily amenities. These dynamics, based on CRE market data from WDSuite, frame a demand backdrop favorable to stabilized operations.
Safety trends should be monitored. The neighborhood’s crime profile sits below the national median (lower national percentile), and its metro rank indicates it is not among Raleigh-Cary’s safer areas (rank 139 of 331). That said, year-over-year estimates point to improvement: property offenses and violent offenses both show declines, which, if sustained, can support resident retention and operating stability.
Investors should underwrite with prudent security, lighting, and community-management measures, and compare the asset’s visibility and site design with peer properties. Use neighborhood-level data for directional context only; block-level conditions can vary within short distances.
Nearby employers span insurance, industrial equipment training, and pharmaceutical distribution, supporting a diverse commuter base and consistent renter demand for workforce housing in the submarket. The list below reflects prominent employers within typical commuting distance.
- MetLife Auto & Home Craig Conley LUTCF — insurance services (9.8 miles)
- Erie Insurance Group — insurance (11.0 miles)
- MetLife — insurance (11.5 miles)
- John Deere Morrisville Training Center — industrial equipment training (13.0 miles)
- Amerisource Bergen — pharmaceutical distribution (13.2 miles)
Built in 2000, this 48-unit asset offers contemporary-era construction with potential to outperform older local stock while still allowing value-add through targeted common-area and in-unit upgrades. Neighborhood occupancy around 92% and a renter-occupied share near half indicate steady multifamily demand; elevated ownership costs locally further reinforce reliance on rentals. Within a 3-mile radius, households have increased over the past five years and are projected to rise further, pointing to a larger tenant base and support for occupancy stability.
Amenities that matter to renters — strong school options, abundant groceries, and solid restaurant access — compare favorably to national benchmarks. Rent-to-income levels at the neighborhood scale suggest manageable affordability, aiding retention and giving operators room for disciplined revenue management. These dynamics, according to CRE market data from WDSuite, position the property for stable operations with selective value-creation opportunities.
- Occupancy and renter concentration at the neighborhood level support demand depth and lease stability.
- 2000 vintage provides modernization potential via targeted renovations for rent and NOI lift.
- Elevated ownership costs locally reinforce renter reliance on multifamily, supporting pricing power.
- 3-mile household growth and projected increases expand the tenant base and support occupancy.
- Risks: below-median safety at the neighborhood level and thinner cafe/pharmacy presence warrant active management and underwriting buffers.