| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 76th | Best |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 190 Fieldspring Ln, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 1998 |
| Units | 33 |
| Transaction Date | 1982-04-28 |
| Transaction Price | $85,500 |
| Buyer | MEADOW SPRING HOUSING ASSOCIATES LLC |
| Seller | STRUBLE VINCENT I |
190 Fieldspring Ln Raleigh Multifamily — 33 Units
Positioned in an inner-suburb pocket with a high renter-occupied share and steady leasing drivers, this 1998 asset competes well against older local stock, according to WDSuite’s CRE market data.
This Inner Suburb neighborhood carries a B+ rating and is competitive among Raleigh-Cary neighborhoods (ranked 88 of 331), signaling balanced fundamentals for workforce-oriented rentals. The submarket’s renter-occupied share is elevated, indicating depth in the tenant base and supporting multifamily demand even as leasing conditions vary by asset quality.
Local conveniences are mixed: park access and childcare density benchmark above national norms, while grocery options are adequate and cafes and pharmacies are sparse. For investors, this points to stable day-to-day livability with room for amenity-driven differentiation at the property level to enhance lease retention.
Neighborhood occupancy is softer than national averages, so property-level execution will matter; however, rents in the area sit near mid-range nationally and the rent-to-income ratio trends near 0.18, which supports renewal probability and measured pricing power. Elevated home values and a higher value-to-income ratio relative to national norms suggest a high-cost ownership market, reinforcing renter reliance on multifamily housing over time.
Within a 3-mile radius, demographics show a modest population contraction but a slight increase in households historically and a projected rise in household counts with smaller average household sizes. This shift typically increases demand for smaller units and supports occupancy stability for compact floor plans, aligning with the asset’s average unit size. These observations reflect neighborhood metrics and 3-mile aggregates and are based on commercial real estate analysis from WDSuite.
Safety indicators for this neighborhood trend weaker than both national and Raleigh-Cary benchmarks, with ranks that place it below the metro median among 331 neighborhoods and in lower national percentiles. This suggests investors should underwrite conservative security and operating measures and monitor municipal crime trends rather than assuming block-level conditions.
From a portfolio perspective, comparative risk can be managed through lighting, access controls, and tenant engagement, while weighing the area’s renter demand and location fundamentals. Use ongoing local reporting and property-level data to track directionally whether conditions are improving or deteriorating year over year.
Proximity to major employers across insurance, life sciences, distribution, and technology supports commuter convenience and a diversified renter pool. Notable nearby employers include MetLife, John Deere a0Morrisville Training Center, AmerisourceBergen, Quintiles Transnational Holdings, and Cisco Systems.
- MetLife — insurance (5.5 miles)
- John Deere Morrisville Training Center — manufacturing training (7.0 miles)
- AmerisourceBergen — pharmaceutical distribution (7.4 miles)
- Quintiles Transnational Holdings — clinical research organization (9.5 miles) — HQ
- Cisco Systems, Building 8 — technology (10.1 miles)
Built in 1998, the property is newer than much of the surrounding housing stock, providing a competitive edge versus older assets while still warranting targeted capital planning for aging systems or modernization. A high renter-occupied share in the neighborhood, mid-range area rents, and a rent-to-income profile that supports renewals point to demand depth; meanwhile, elevated home values relative to incomes indicate a high-cost ownership market that can sustain renter reliance. According to CRE market data from WDSuite, the neighborhood is competitive at the metro level, with livability supported by parks and childcare access, though occupancy at the neighborhood level is softer and will reward strong leasing execution.
Within a 3-mile radius, household counts are projected to grow even as average household size declines, which can expand the renter pool for smaller formats and support occupancy stability. Forward-looking rent benchmarks trend higher, reinforcing potential for revenue growth if paired with prudent unit upgrades and disciplined operations.
- 1998 vintage offers competitive positioning versus older neighborhood stock with targeted value-add potential.
- Elevated renter-occupied share and mid-range rents support demand depth and renewal prospects.
- High-cost ownership landscape reinforces multifamily reliance and pricing power over time.
- 3-mile household growth and smaller household sizes favor absorption of compact units.
- Risks: softer neighborhood occupancy and below-average safety metrics require disciplined leasing and security planning.