| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 46th | Fair |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2400 Brentwood Rd, Raleigh, NC, 27604, US |
| Region / Metro | Raleigh |
| Year of Construction | 1997 |
| Units | 24 |
| Transaction Date | 2020-11-12 |
| Transaction Price | $713,000 |
| Buyer | MARSH CREEK ESSENTIAL HOUSING LLC |
| Seller | MARSH CREEK HARMONY HOUSING LLC |
2400 Brentwood Rd Raleigh 24-Unit Multifamily Investment
Renter-occupied concentration in the surrounding neighborhood sits in the top quartile nationally, supporting a deeper tenant base, according to WDSuite’s CRE market data. Occupancy has trended modestly positive over the past five years, suggesting demand stability even as operators manage pricing and renewal risk.
Located in an Inner Suburb of Raleigh, the neighborhood rates C+ and is competitive for everyday needs, with restaurant density in the top quartile among 331 metro neighborhoods and grocery access also competitive. Cafe, park, and pharmacy options are thinner locally, so residents rely more on nearby corridors for those amenities.
Neighborhood rents and incomes track near national mid-range levels, and the rent-to-income ratio points to manageable affordability pressure, which can aid retention and reduce turnover volatility for professionally managed assets. Median home values are moderate for the metro, meaning rental communities may face some competition from ownership options; however, this typically supports selective pricing power for well-located, well-managed units.
Tenure data indicates a high share of renter-occupied housing units (top quartile nationally), reinforcing the depth of local multifamily demand and supporting leasing velocity for similar product. Neighborhood occupancy sits around the national mid-range and has inched up in recent years, pointing to steady absorption rather than rapid swings.
Demographics aggregated within a 3-mile radius show a slight population dip alongside an increase in total households and smaller average household sizes. Forward-looking projections indicate additional household growth and income gains, which typically translate to a larger tenant base and support for occupancy stability and rent trade-up across the submarket.
Safety indicators are weaker than both metro and national norms. The neighborhood’s crime ranking sits in the lower tier compared with Raleigh–Cary, placing it below the metro median (ranked 234 out of 331 neighborhoods). Nationally, violent and property offense rates benchmark in low percentiles, indicating elevated incident rates relative to many U.S. neighborhoods.
On trend, property offenses have eased year over year, which is a constructive signal for operators focused on risk management and resident experience. Investors typically underwrite enhanced security, lighting, and partnership with local authorities when evaluating assets in areas with below-average safety metrics.
Regional employment anchors within commuting range include insurance, life sciences, pharmaceutical distribution, and technology offices, which broaden the renter base and support leasing durability for workforce and mid-market units.
- MetLife Auto & Home Craig Conley LUTCF — insurance services (11.3 miles)
- MetLife — insurance (11.7 miles)
- Erie Insurance Group — insurance (12.8 miles)
- John Deere Morrisville Training Center — industrial equipment training (13.2 miles)
- Amerisource Bergen — pharmaceutical distribution (13.2 miles)
- Quintiles Transnational Holdings — clinical research (14.7 miles) — HQ
- Biogen Idec — biotechnology (15.8 miles)
- Cisco Systems, Building 8 — technology offices (16.2 miles)
- Cisco Systems — technology (16.6 miles)
This 24-unit asset in Raleigh’s Inner Suburb benefits from a renter-heavy housing mix and steady neighborhood occupancy, supporting consistent leasing and renewal prospects. Amenities skew toward restaurants and groceries (both competitive within the metro), while limited parks, cafes, and pharmacies suggest value in amenity upgrades that elevate on-site convenience. Based on CRE market data from WDSuite, household counts within a 3-mile radius are rising even as household sizes trend smaller, expanding the renter pool for well-managed, mid-size communities.
Ownership costs in the area are moderate relative to incomes, which can create some competition from entry-level ownership but also sustains multifamily as a flexible option for a broadening workforce. The investment case centers on durable tenant demand, prudent expense control, and targeted enhancements to differentiate from older stock nearby, balanced against below-average neighborhood safety metrics and the need for active property management.
- Renter-occupied concentration (top quartile nationally) supports depth of demand and leasing stability.
- Competitive restaurant and grocery access among 331 metro neighborhoods underpins resident convenience.
- 3-mile demographics show household growth and smaller household sizes, expanding the local renter base.
- Moderate ownership costs may temper pricing power but can still support retention with thoughtful lease management.
- Risk: Safety metrics rank below metro and national norms; active security and operations planning are important.