| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 86th | Best |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2901 Springsweet Ln, Raleigh, NC, 27612, US |
| Region / Metro | Raleigh |
| Year of Construction | 1997 |
| Units | 20 |
| Transaction Date | 2015-01-15 |
| Transaction Price | $28,433,500 |
| Buyer | SEASONS AT UMSTEAD LLC |
| Seller | UMSTEAD RALEIGH INVESTORS LLC |
2901 Springsweet Ln Raleigh 20-Unit Multifamily Opportunity
Neighborhood occupancy is steady and renter demand is supported by a moderate renter-occupied share and high household incomes, according to WDSuite s CRE market data. Position within an inner-suburban area provides leasing stability with room for value-add execution.
Located in Raleigh s Inner Suburb, the neighborhood carries a B+ rating and ranks 108 out of 331 within the Raleigh Cary metro competitive among metro neighborhoods. The area s reported occupancy of 95.6% suggests stable leasing fundamentals at the neighborhood level, while median contract rents sit in the upper range for the region without appearing outsized relative to incomes.
Renter-occupied units comprise roughly two-fifths of housing in the neighborhood (39.8%), indicating a meaningful but not saturated renter concentration that supports depth of the tenant base. The rent-to-income ratio is measured at 0.14, which points to manageable affordability pressure and potential for steady retention when lease management is disciplined. Elevated median home values signal a high-cost ownership market locally, which can sustain reliance on rental housing and help support pricing power in professionally managed assets.
Livability skew is suburban: grocery availability is adequate for the area, while cafes, parks, and pharmacies register lower local density a common profile for inner-suburban pockets where daily needs are met within short drives rather than on block corners. For investors, this typically translates to car-oriented convenience rather than walkable retail, with limited near-term competitive pressure from high-amenity micro-districts.
Demographics aggregated within a 3-mile radius show a mixed backdrop: recent counts indicate a modest pullback over the last cycle, yet forward-looking figures point to population growth and a sizable increase in households by the forecast horizon. Rising incomes in the radius, alongside projected renter pool expansion, underpin multifamily demand and support occupancy stability.
Safety indicators place the neighborhood roughly mid-pack within the Raleigh Cary metro (154 out of 331 neighborhoods), with national percentiles that are below the U.S. median for safety. This suggests investors should underwrite with conservative assumptions and emphasize property-level controls and resident experience.
Recent trends are mixed: estimated property offenses show a year-over-year decline (approximately 3%), while estimated violent offenses increased over the same period. In practice, owners often mitigate these dynamics with lighting, access control, and partnerships with local resources; investors should calibrate operating plans accordingly.
Proximity to established employment nodes supports workforce housing demand, with convenient commutes to insurance, life sciences, tech, and corporate services employers including MetLife, AmerisourceBergen, John Deere, Quintiles, and Biogen.
- MetLife insurance (4.8 miles)
- Amerisource Bergen pharmaceutical distribution (5.1 miles)
- John Deere Morrisville Training Center manufacturing training (5.5 miles)
- Quintiles Transnational Holdings clinical research organization (5.6 miles) HQ
- Biogen Idec biotechnology (7.3 miles)
Built in 1997 with 20 units, the asset sits in a neighborhood showing solid occupancy, a balanced renter-occupied share, and incomes that support rent levels. According to CRE market data from WDSuite, neighborhood occupancy is healthy and median contract rents align with a rent-to-income profile that supports retention, while high local home values reinforce renter reliance on multifamily housing.
The property s vintage implies mid-life building systems a practical window for targeted capital planning and interior upgrades to capture value-add upside. Inner-suburban fundamentals, car-oriented convenience, and proximity to diverse employment nodes provide a durable tenant base, though underwriting should account for amenity-light blocks and measured safety positioning relative to national norms.
- Stable neighborhood occupancy and rent levels relative to incomes support steady leasing
- High-cost ownership market reinforces demand for rentals and pricing power
- 1997 vintage offers clear value-add and systems modernization pathways
- Proximity to insurance, life sciences, and tech employers supports tenant base
- Risks: amenity-light micro-location and safety metrics below national median warrant conservative operations