| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 68th | Good |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Wolf Way, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | 2006-02-15 |
| Transaction Price | $1,375,000 |
| Buyer | 403 WOLF CREEK LLC |
| Seller | VIE RALEIGH LLC |
200 Wolf Way Raleigh 24-Unit Multifamily Investment
Renter concentration is a key demand driver in this inner-suburban location, with a 2007-vintage asset positioned to compete against older stock, according to WDSuite’s CRE market data. The area’s proximity to daily-needs retail and major employment nodes supports steady leasing potential.
Located in Raleigh’s inner suburbs, the neighborhood carries a B rating and sits above the metro median overall (rank 154 of 331), according to WDSuite’s CRE market data. The local renter concentration is notably high (renter-occupied share ranked 5th of 331 metro neighborhoods), indicating a deep tenant base that can support leasing velocity and renewal depth for multifamily assets.
Access to daily necessities is a relative strength: grocery density is competitive among Raleigh-Cary neighborhoods (rank 41 of 331) and in the top quartile nationally, and restaurant options also compare well locally (rank 75 of 331). By contrast, parks, cafes, childcare, and pharmacies are sparse within the neighborhood footprint, which means residents rely more on nearby corridors for certain lifestyle amenities.
The neighborhood occupancy rate trends below the metro average, so operators should plan for active leasing and retention strategies. However, 200 Wolf Way’s 2007 construction is newer than the neighborhood’s average 1990 vintage, providing competitive positioning versus older stock while still warranting mid-life system updates and select renovations to capture rent premiums.
Within a 3-mile radius, household counts have inched higher over the past five years and are projected to expand materially by 2028, even as population growth is roughly flat—signaling smaller household sizes and a broader pool of renters entering the market. Median incomes have risen, and forecast rent levels point to sustained pricing power for well-managed assets, based on commercial real estate analysis from WDSuite.
Home values in the neighborhood are moderate relative to many coastal markets, which can introduce some competition from ownership options. At the same time, rent-to-income levels suggest selective affordability pressure, making lease management and renewal strategies important for maintaining occupancy and cash flow stability.
Safety conditions trend below both metro and national benchmarks. The neighborhood’s crime rank is in the lower tier locally (rank 211 of 331 metro neighborhoods), and national comparisons place it in the bottom quartile for safety. Investors should underwrite to on-site security, lighting, access control, and partnership with local law enforcement where appropriate.
Recent trends are mixed: property offenses show modest year-over-year improvement, while violent offense estimates have risen. This suggests volatility rather than a clear trend, reinforcing the need for prudent operations, resident engagement, and design measures that can support leasing and retention.
Nearby corporate offices in insurance, healthcare distribution, advanced manufacturing, and training centers provide a broad employment base that supports renter demand and commute convenience for workforce and professional tenants. The following employers are within commuting distance:
- MetLife Auto & Home Craig Conley LUTCF — insurance services (3.3 miles)
- MetLife — insurance (5.0 miles)
- Erie Insurance Group — insurance (5.0 miles)
- John Deere Morrisville Training Center — manufacturing/training (6.5 miles)
- Amerisource Bergen — healthcare distribution (6.9 miles)
The investment case centers on depth of renter demand, relative asset competitiveness, and proximity to diversified employment. The immediate neighborhood is renter-heavy and sits above the metro median overall, while groceries and restaurants are competitive locally. Although neighborhood occupancy trails metro norms, a 2007-vintage, 24-unit asset can position well against older comparables with targeted upgrades and disciplined leasing. According to CRE market data from WDSuite, 3-mile household growth is projected to expand meaningfully through 2028 even as population remains roughly flat, implying smaller households and a larger tenant base that supports occupancy stability.
Underwriting should account for affordability management and safety conditions that lag national benchmarks. Moderate ownership costs may create some competition with for-sale options, but rising incomes and forecast rent growth indicate room for well-executed value capture. Operational focus on resident retention, security, and amenity positioning can mitigate risk and support durable NOI.
- Renter-heavy neighborhood supports demand depth and renewal stability
- 2007 construction offers competitive positioning versus older local stock
- Strong grocery/restaurant access and diversified nearby employers aid leasing
- Household growth within 3 miles expands the tenant base through 2028
- Risks: below-metro occupancy, safety volatility, and ownership competition require active management