| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 64th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 Cluskey Way, Raleigh, NC, 27615, US |
| Region / Metro | Raleigh |
| Year of Construction | 1997 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2700 Cluskey Way Raleigh Multifamily Investment
Neighborhood occupancy is stable and sits above the metro median, supporting lease-up and retention, according to WDSuite’s CRE market data. Elevated ownership costs in North Raleigh further sustain renter demand for well-located rental housing.
Located in a Suburban pocket of North Raleigh with an A- neighborhood rating, the area ranks 72 out of 331 Raleigh-Cary neighborhoods, placing it in the top quartile locally. Investors can expect demand supported by steady household incomes and a renter base deep enough to sustain leasing while still leaving room for thoughtful repositioning.
Access to daily needs is solid: grocery and pharmacy density are competitive among Raleigh-Cary neighborhoods, while parks access trends above the metro median. Café density is limited, and average school ratings trend below national midpoints, which may temper appeal for some family renters. However, restaurant options are reasonably accessible within the neighborhood context, offering convenience for residents.
Rent and occupancy signals are constructive at the neighborhood level. Occupancy is above the metro median and has improved over the last five years, and contract rents sit above national midpoints with healthy multi‑year growth, based on CRE market data from WDSuite. For investors, this suggests a base of demand that can support consistent collections and measured pricing power.
Tenure and demographics reinforce the multifamily narrative. About a third of housing units are renter-occupied in the neighborhood, indicating a meaningful renter concentration and a viable tenant pool. Within a 3‑mile radius, recent years show flat-to-modest population movement and a slight increase in households, signaling smaller household sizes; forward-looking projections indicate growth in both population and household counts, expanding the renter pool and supporting occupancy stability over the medium term.
Ownership costs are elevated relative to many U.S. neighborhoods. Higher home values in this area tend to reinforce reliance on rental housing, which can aid lease retention and underpin steady absorption for well-managed properties.
Safety trends are mixed in this part of Raleigh. The neighborhood’s crime rank sits in the lower half of the 331 Raleigh-Cary neighborhoods, indicating conditions that are weaker than the metro median. Nationally, the area falls below mid-percentiles for both violent and property offenses, so investors should underwrite conservative security and loss assumptions.
Notably, property offense estimates show year-over-year improvement, with declines over the last year that place the neighborhood above average for improvement compared with peers nationwide. Owners can mitigate risk through standard measures (lighting, access control, resident screening) while leveraging the downward trend as a supportive factor for retention and marketing.
Proximity to major employers in the Triangle underpins renter demand by shortening commutes for residents working in financial services, life sciences, and technology. Nearby nodes include MetLife, Amerisource Bergen, John Deere Morrisville Training Center, MetLife Auto & Home, and Quintiles Transnational Holdings.
- MetLife — financial services (12.4 miles)
- Amerisource Bergen — pharmaceuticals distribution (13.4 miles)
- John Deere Morrisville Training Center — industrial equipment training (13.6 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (14.0 miles)
- Quintiles Transnational Holdings — clinical research (14.1 miles) — HQ
Built in 1997, the asset is newer than the neighborhood’s average vintage, providing a competitive edge versus older stock while still leaving room for targeted modernization to meet today’s renter expectations. Neighborhood occupancy trends above the metro median with multi‑year improvement, and home values in North Raleigh create a high-cost ownership market that sustains multifamily demand and supports lease retention. According to CRE market data from WDSuite, area contract rents benchmark above national midpoints, reflecting durable renter depth.
Within a 3‑mile radius, recent household growth alongside relatively flat population indicates smaller household sizes, which can increase demand for rental units; forward projections point to growth in both households and population, expanding the tenant base and supporting occupancy stability. Key risks to underwrite include safety metrics that trail national norms and below-average school ratings, which may require focused marketing, amenity programming, and prudent security planning.
- 1997 construction offers competitive positioning versus older stock, with value‑add potential through modernization
- Neighborhood occupancy above metro median supports collections and pricing discipline
- High-cost ownership environment reinforces renter reliance on multifamily housing
- 3‑mile household growth and projected population gains expand the tenant base
- Risks: safety below national percentiles and lower school ratings warrant conservative assumptions and active management