| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 51st | Fair |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2151 Glascock St, Raleigh, NC, 27610, US |
| Region / Metro | Raleigh |
| Year of Construction | 1996 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2151 Glascock St Raleigh NC Income Property Opportunity
Neighborhood occupancy sits near local norms and has improved over recent years, supporting stable leasing dynamics according to WDSuite s CRE market data. Elevated ownership costs in the metro reinforce sustained renter reliance, which can aid pricing power when managed with disciplined operations.
Raleigh Cary s east-side suburban setting offers daily-living convenience more than dining density: neighborhood access to groceries and pharmacies ranks above many peers in the metro, while restaurants and cafes are limited. For investors, this points to pragmatic livability for workforce renters, with fewer discretionary amenity draws inside the immediate neighborhood but solid access to necessities.
The local renter-occupied share is competitive among Raleigh Cary neighborhoods (331 total), indicating a meaningful tenant base without being saturated. Within a 3-mile radius, households have expanded in recent years and are projected to grow further, which supports a larger tenant pool and occupancy stability over time. Median incomes in this radius have risen, reinforcing the ability to support rent levels when paired with careful lease management.
Construction in the neighborhood skews to the mid-1990s on average, and the subject s 1996 vintage is slightly newer than the local norm. For investors, mid-90s product can be competitive versus older stock, while still benefiting from targeted value-add and systems modernization to extend useful life and improve rent positioning.
Home values in the neighborhood sit in a higher-cost ownership context compared with national norms, which tends to sustain rental demand and support retention. Rent-to-income metrics are closer to national medians, suggesting moderate affordability pressure and room for disciplined rent growth without overextending residents, subject to unit finishes and competitive set dynamics. These signals are based on CRE market data from WDSuite.
Safety indicators for the neighborhood trend below national medians, placing it in a weaker national safety percentile compared with many U.S. neighborhoods. Recent patterns are mixed: property offenses have eased year over year, while violent offenses increased over the same period. Investors should underwrite to security line items, lighting and access control, and consider resident experience programs to support retention.
Within the Raleigh Cary metro (331 neighborhoods total), conditions vary widely across subareas; this location performs below many metro peers but can be mitigated with on-site measures and partnership with local community resources. Use current, property-level incident data during diligence to calibrate operating expenses and leasing assumptions.
Proximity to regional employers supports workforce renter demand and commute convenience, particularly across insurance, life sciences, training, and distribution operations cited below.
- MetLife Auto & Home Craig Conley LUTCF — insurance services (10.1 miles)
- MetLife — insurance (11.0 miles)
- Erie Insurance Group — insurance (11.5 miles)
- John Deere Morrisville Training Center — training & development (12.5 miles)
- Amerisource Bergen — pharmaceutical distribution (12.6 miles)
- Quintiles Transnational Holdings — contract research organization (14.2 miles) — HQ
This 1996-vintage, approximately 40-unit asset sits in a suburban Raleigh location with day-to-day amenities and a renter base that s competitive among metro neighborhoods. Neighborhood occupancy trends have improved and sit near national norms, while a high-cost ownership environment in Raleigh Cary sustains reliance on rental housing and supports pricing power when paired with prudent lease management. Within a 3-mile radius, household counts have grown and are projected to expand further, indicating a larger tenant base and potential for steady absorption. These signals, anchored by commercial real estate analysis from WDSuite, point to consistent demand drivers rather than outsized volatility.
The mid-90s vintage provides a practical platform for targeted value-add: exterior upgrades, interior finish refreshes, and system-level modernization can enhance competitiveness versus older stock nearby. At the same time, investors should underwrite to neighborhood safety considerations and the relative scarcity of lifestyle amenities, emphasizing on-site security, partnership discounts with nearby services, and community programming to bolster retention.
- Occupancy near national norms with improving neighborhood trend supports leasing stability
- High-cost ownership market reinforces renter demand and potential pricing power
- 1996 construction offers value-add and systems modernization opportunities
- 3-mile household growth expands the tenant base and supports absorption
- Risks: below-median safety metrics and limited dining/park amenities may require higher OpEx and active management