| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 82nd | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1801 Summit Hills Way, Raleigh, NC, 27607, US |
| Region / Metro | Raleigh |
| Year of Construction | 1992 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1801 Summit Hills Way Raleigh Multifamily Investment
Inner-suburban location with a deep renter base and high-cost ownership market supports durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy has eased, but renter concentration and steady incomes point to stable leasing with disciplined operations.
This Inner Suburb pocket of Raleigh-Cary carries an A neighborhood rating and ranks 45 of 331 metro neighborhoods, placing it in the top quartile locally based on WDSuite’s CRE market data. Within the neighborhood, occupancy is softer than the national median, yet the share of housing units that are renter-occupied is high (neighborhood indicator shows a strong renter concentration), which supports a deeper tenant base for multifamily assets.
Amenity access is mixed: cafes and groceries are competitive among Raleigh-Cary neighborhoods (ranks roughly in the more competitive third of the metro), while park and pharmacy counts are limited. These dynamics suggest everyday convenience for residents, even if green space and on-foot pharmacy access are less prominent within the immediate area.
Ownership costs are elevated in the neighborhood relative to incomes (top-quartile value-to-income positioning in the metro and high national percentiles for home values), which tends to reinforce reliance on multifamily rentals and can aid lease retention and pricing power when managed prudently. At the same time, the rent-to-income indicator points to manageable renter affordability, which can help moderate turnover risk.
Demographics aggregated within a 3-mile radius show a modest population dip alongside growth in the number of households, indicating smaller household sizes and continued support for rental demand. Looking ahead, forecasts call for a sizable increase in households and higher median incomes over the next five years, expanding the local renter pool and supporting occupancy stability for well-positioned properties.
The property’s 1992 vintage is slightly newer than the neighborhood average year built, offering competitive positioning versus older stock. Investors should still plan for selective modernization and system upgrades to capture value-add upside and align with current resident expectations.
Safety indicators in this neighborhood are weaker than both metro and national benchmarks. The neighborhood ranks in the lower half of the 331 Raleigh-Cary neighborhoods for crime, and national percentiles indicate comparatively higher incident rates versus many U.S. neighborhoods. Recent trends are mixed: estimated property offenses have edged down year over year, while estimated violent offenses increased. Investors commonly respond with targeted security measures, lighting, and access controls, and should reflect these considerations in insurance and operating plans.
Proximity to diversified employers supports renter demand and commute convenience, with concentrations in insurance, life sciences, and corporate services reflected below.
- MetLife — insurance (4.2 miles)
- John Deere Morrisville Training Center — industrial training (5.8 miles)
- Amerisource Bergen — pharmaceutical distribution (6.0 miles)
- Erie Insurance Group — insurance (6.1 miles)
- Quintiles Transnational Holdings — clinical research (7.9 miles) — HQ
1801 Summit Hills Way offers exposure to an A-rated inner-suburban Raleigh location with high renter concentration and elevated ownership costs that support sustained multifamily demand. While the neighborhood’s occupancy level trails national medians, the depth of the renter base, competitive amenity access, and rising household incomes provide a foundation for steady leasing and prudent rent growth. Based on CRE market data from WDSuite, the area’s home-value positioning relative to income reinforces renter reliance on apartments.
The 1992 vintage is slightly newer than the local average year built, presenting competitive positioning versus older inventory and an avenue for targeted upgrades to enhance durability and rents. Demographics within a 3-mile radius point to growth in households and income over the next five years, expanding the tenant pool and supporting long-term performance for well-operated assets.
- A-rated, top-quartile neighborhood within Raleigh-Cary with strong renter concentration
- Elevated ownership costs and solid incomes reinforce multifamily demand and lease retention
- 1992 vintage offers value-add potential through targeted modernization
- 3-mile forecasts indicate rising households and incomes, supporting occupancy stability
- Risks: softer neighborhood occupancy and below-average safety metrics warrant conservative underwriting