| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 70th | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1710 Vienna Woods Dr, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | 1999-09-17 |
| Transaction Price | $2,302,000 |
| Buyer | 332 EAST 11 LLC |
| Seller | FAIRFIELD DILLARD ROAD LP |
1710 Vienna Woods Dr Raleigh 24-Unit Multifamily
Renter demand is supported by a high neighborhood renter-occupied share and elevated ownership costs, according to WDSuite’s CRE market data, which can aid leasing durability with disciplined operations.
Competitive among Raleigh-Cary neighborhoods (ranked 85 of 331), this inner-suburb location balances everyday convenience with investment appeal. Restaurants are relatively dense for the area, groceries are accessible, while parks and cafes are limited. Average school ratings are mixed around the national middle, suggesting family appeal may hinge more on convenience and housing options than top-tier schools.
Neighborhood rents trend above national norms, and median home values place the area in a higher-cost ownership context nationally. For investors, that combination can sustain multifamily demand and pricing power, provided leasing is actively managed. The neighborhood’s occupancy is measured at the neighborhood level, not the property, and sits below national norms, which points to careful underwriting around lease-up velocity and concessions.
Renter concentration is high at the neighborhood level (renter-occupied share in the upper tail nationally), which indicates a deep tenant base for a 24-unit asset. At the same time, the property’s 2000 vintage is newer than the local average stock from the mid-1980s, supporting competitive positioning versus older buildings, while still warranting planning for modernization of major systems and common areas.
Demographic statistics are aggregated within a 3-mile radius: recent years show slight population softening but rising incomes, with projections indicating renewed population growth and a notable increase in households alongside smaller household sizes by 2028. For multifamily, that shift typically expands the renter pool and can support occupancy stability over the medium term, based on CRE market data from WDSuite.
Safety performance is mixed relative to peers. Within the Raleigh-Cary metro, the neighborhood’s crime position sits near the middle of the pack (around rank 165 of 331), indicating conditions that warrant standard risk controls and attentive property management. Nationally, comparative indicators suggest a less favorable standing today, though recent year-over-year data show meaningful improvement in property-related incidents, signaling a constructive trend to monitor.
Investors should incorporate prudent measures such as lighting, access controls, and community engagement, and track trajectory as part of ongoing asset management rather than relying on a single snapshot.
Nearby employers span insurance, technology, life sciences, and industrial training, supporting a diverse commuter base that can underpin renter demand and retention. The list below reflects proximate employers that align with this workforce profile.
- Erie Insurance Group — insurance (4.5 miles)
- MetLife — insurance (6.6 miles)
- John Deere Morrisville Training Center — industrial training (8.1 miles)
- Amerisource Bergen — pharmaceutical distribution (8.5 miles)
- Quintiles Transnational Holdings — contract research organization (10.7 miles) — HQ
1710 Vienna Woods Dr is a 24-unit asset built in 2000, newer than much of the surrounding 1980s-era stock, offering relative competitiveness with scope for targeted modernization. The neighborhood features a high renter-occupied share and ownership costs that skew above national norms, both supportive of a durable tenant base. However, neighborhood-level occupancy runs softer than national averages, so value will hinge on disciplined leasing, amenities that resonate with the local renter profile, and active expense control.
Based on CRE market data from WDSuite, the broader area shows rising incomes within a 3-mile radius and projections for household growth alongside smaller household sizes—trends that typically expand the renter pool and support absorption. Execution focus should include marketing to nearby employment corridors, safety-forward property operations, and calibrated rent setting to balance revenue goals with retention.
- Newer 2000 vintage versus local 1980s stock supports competitive positioning with selective upgrade upside.
- High neighborhood renter-occupied share and elevated ownership costs reinforce depth of the tenant base.
- 3-mile area shows rising incomes and projected household growth, aiding leasing and retention over time.
- Risk: neighborhood occupancy below national norms requires proactive leasing, concessions strategy, and expense discipline.
- Risk: safety metrics are mixed; maintain strong access control and community engagement to support stabilization.