| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 60th | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2440 Big Cypress Ct, Raleigh, NC, 27603, US |
| Region / Metro | Raleigh |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | 2011-05-31 |
| Transaction Price | $1,200,000 |
| Buyer | UV NC STUDENT HOUSING DST |
| Seller | UV 2505 LL LLC |
2440 Big Cypress Ct Raleigh Multifamily Investment
2012-vintage, 24-unit asset positioned in an inner-suburban pocket where renter concentration and grocery access support leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy trends are softer than the metro, so underwriting should prioritize operational execution and tenant retention.
Located in an Inner Suburb of Raleigh, the property benefits from proximity to daily-needs retail; neighborhood grocery access ranks competitive among 331 Raleigh-Cary neighborhoods and sits in the top quartile nationally. In contrast, cafe, park, childcare, and pharmacy densities are limited locally, so on-site conveniences and short drives to adjacent corridors matter for resident satisfaction.
Rents in the neighborhood trend above many peers (nationally around the 80th percentile), while rent-to-income indicates manageable affordability pressure for typical tenants. For investors, that combination supports pricing power without overextending lease risk, per commercial real estate analysis grounded in WDSuite data.
The neighborhood’s renter-occupied share of housing units is high (near the top decile nationally), signaling a deep tenant base for multifamily. At the same time, neighborhood occupancy levels are below the metro median, so stabilization depends more on property-level management and appeal than on purely market momentum.
Within a 3-mile radius, population has edged down recently while the number of households has increased, indicating smaller household sizes and a broadened renter pool. Forward-looking projections in the same 3-mile radius point to continued household growth and rising incomes, which typically support lease-up velocity and retention even as renters seek more accessible options than ownership.
Construction trends in this area skew newer than many parts of the U.S., and the asset’s 2012 delivery is newer than the local average (2002). That positioning can reduce near-term capital exposure and enhance competitiveness versus older stock, though standard mid-life system updates and selective renovations should be considered in capital planning.
Safety metrics for the neighborhood track below both national and metro benchmarks, placing it in a lower tier among the 331 Raleigh-Cary neighborhoods. National percentiles indicate comparatively higher crime exposure than many U.S. neighborhoods, and recent estimates show year-over-year increases in violent and property offenses.
Investors should focus on property-level measures—lighting, access control, and resident engagement—and highlight commute convenience and on-site amenities in marketing to offset neighborhood perceptions. Monitor trends over time rather than single-year snapshots, using WDSuite as a consistent reference point for comparative evaluation.
The location draws on a diverse employment base spanning insurance, life sciences services, and industrial training—supporting workforce housing demand and short commutes for renters. Nearby anchors include the following organizations.
- Erie Insurance Group — insurance (7.2 miles)
- MetLife — insurance (9.0 miles)
- John Deere Morrisville Training Center — industrial training (10.5 miles)
- Amerisource Bergen — pharmaceutical distribution (10.9 miles)
- Quintiles Transnational Holdings — life sciences services (13.0 miles) — HQ
This 24-unit, 2012-built asset is positioned to capture renter demand from a neighborhood with a high share of renter-occupied housing and solid access to daily-needs retail, while offering a newer vintage than the local average. Based on CRE market data from WDSuite, neighborhood occupancy trends are softer than the metro and national medians, so outcomes will lean on property-level execution—curb appeal, unit finishes, and responsive management—to drive leasing and retention. Household growth and income gains within a 3-mile radius expand the tenant base, and the area’s elevated home values relative to incomes help sustain reliance on multifamily options.
The vintage provides a competitive edge against older stock and may reduce near-term capital intensity, though mid-life system updates and targeted renovations should be incorporated into the business plan. Proximity to insurance, life sciences, and industrial employers adds breadth to the renter pool and supports occupancy stability through cycles.
- Newer 2012 construction versus local average, aiding competitiveness and moderating immediate capex
- High renter concentration and growing household counts within 3 miles support a larger tenant base
- Daily-needs retail access and proximity to insurance, pharma services, and industrial employers bolster leasing
- Manageable rent-to-income dynamics provide room for disciplined rent growth and retention strategy
- Risk: Neighborhood occupancy and safety metrics trail metro and national benchmarks—plan for active asset management