| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 69th | Good |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2310 Crescent Creek Dr, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2002-04-11 |
| Transaction Price | $865,000 |
| Buyer | HRA WOLFPACK VILLAGE LLC |
| Seller | CENTENNIAL VILLAGE LLC |
2310 Crescent Creek Dr Raleigh Multifamily Opportunity
Renter-occupied concentration in the surrounding neighborhood underpins demand, while the asset’s 2003 vintage offers competitive positioning versus older stock, according to WDSuite’s CRE market data. Monitor leasing given neighborhood occupancy trending below the national median.
Located in Raleigh’s inner suburbs, the property benefits from a neighborhood that ranks 68th out of 331 metro neighborhoods — competitive among Raleigh-Cary neighborhoods. Daily-needs access is a relative strength, with groceries, pharmacies, parks, and dining options comparing favorably to many local peers, supporting resident convenience and retention.
The area shows a high share of renter-occupied housing (71.3%; top decile nationally), signaling depth in the tenant base for multifamily operators. Neighborhood occupancy is below the national median, so underwriting should prioritize leasing velocity, renewal strategies, and loss-to-lease management.
Within a 3-mile radius, households have grown modestly and are projected to expand substantially through 2028, even as population trends flatten — indicating smaller household sizes and a larger renter pool. Rising median incomes and a forecast increase in households point to steady demand formation, which can support occupancy stability over time.
Ownership remains a high-cost proposition locally relative to incomes (high national percentile for value-to-income), which tends to sustain reliance on rental housing and can aid pricing power when managed carefully. Median asking rents sit above many U.S. neighborhoods, and a rent-to-income ratio near one-third suggests some affordability pressure — an operational consideration for renewal strategies and amenity/value-add calibration.
The asset’s 2003 construction year is newer than the neighborhood’s average vintage (1995). That positioning generally supports competitiveness versus older inventory, while still warranting capital planning for mid-life building systems and selective modernization to maintain absorption and renewal rates.
Safety indicators for the neighborhood trend below national medians, with crime metrics placing the area in lower national percentiles. Within the Raleigh-Cary metro, the neighborhood’s crime rank is in the less favorable half (rank 228 out of 331), indicating safety performance that trails many metro peers.
Investors should underwrite with prudent assumptions around security, lighting, and property management presence. Track recent trendlines — property and violent offense estimates have shown year-over-year increases — and emphasize measures that support resident confidence and retention without relying on block-level assumptions.
Nearby employers provide a diverse white-collar employment base — including insurance, life sciences, distribution, industrial training, and technology — supporting commuter convenience and multifamily renter demand in this inner-suburban location.
- MetLife Auto & Home Craig Conley LUTCF — insurance services (5.2 miles)
- Erie Insurance Group — insurance (6.5 miles)
- MetLife — insurance (7.4 miles)
- John Deere Morrisville Training Center — industrial training (9.0 miles)
- Amerisource Bergen — pharmaceutical distribution (9.3 miles)
- Quintiles Transnational Holdings — contract research organization (11.3 miles) — HQ
- Biogen Idec — biotechnology (11.7 miles)
- Cisco Systems, Building 8 — networking technology offices (12.0 miles)
- Cisco Systems — networking technology offices (12.4 miles)
2310 Crescent Creek Dr presents a renter-driven submarket with strong daily-needs access and a tenant base skewed toward multifamily living. The neighborhood shows a high renter-occupied share and above-median rents, while homeownership remains relatively costly versus local incomes — conditions that typically reinforce reliance on rental housing. Based on CRE market data from WDSuite, neighborhood occupancy trends sit below national medians, so performance will hinge on disciplined leasing, renewals, and targeted concessions.
Built in 2003, the asset is newer than the area’s average vintage, offering competitive positioning against older stock. Thoughtful capital planning for mid-life systems and selective interior/common-area upgrades can enhance tenant retention and capture demand from a growing household base within 3 miles, where households are projected to rise meaningfully through 2028, supporting long-run leasing stability.
- Renter-centric neighborhood supports depth of demand and renewal potential
- Newer 2003 vintage versus local average, with modernization optionality
- Daily-needs access (grocery, parks, pharmacies, dining) aids resident convenience
- High-cost ownership landscape can sustain reliance on rental housing
- Risk: Neighborhood occupancy below national median and safety metrics lag metro peers — underwrite leasing, security, and retention strategy accordingly