| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 93rd | Best |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 Sweeny Dr, Raleigh, NC, 27609, US |
| Region / Metro | Raleigh |
| Year of Construction | 2013 |
| Units | 67 |
| Transaction Date | 2007-01-10 |
| Transaction Price | $1,856,000 |
| Buyer | RAMBLEWOOD VENTURE LLC |
| Seller | RAMBLEWOOD LANTERN LLC |
310 Sweeny Dr Raleigh Multifamily Investment Opportunity
High-cost ownership in the neighborhood and an above-metro-median renter concentration support a durable tenant base, according to CRE market data from WDSuite. Neighborhood occupancy has improved over the past five years, though current levels track closer to national mid-range benchmarks.
Located in suburban Raleigh, the property sits in a neighborhood rated A- among 331 metro neighborhoods, with demographics scoring near the top nationally. Median home values are elevated relative to both metro and national norms, which tends to sustain reliance on rental housing and support pricing power for well-positioned assets.
The 2013 vintage is materially newer than the neighborhood’s average 1970s-era stock. This positioning can enhance competitiveness versus older comparables and may reduce near-term capital needs, while investors should still budget for modernization of systems and finishes over the next hold period as the asset ages.
Livability is characterized by strong park access (top-quartile nationally) and moderate restaurant density, while retail categories like grocery, pharmacy, and cafes are sparse within neighborhood boundaries. For residents, that typically means driving for daily needs; for owners, this dynamic puts more weight on on-site amenities and management to support retention.
Renter-occupied housing accounts for a substantial share of neighborhood units, ranking above the metro median, which points to depth in multifamily demand. Within a 3-mile radius, population and households have grown over the last five years, and forecasts point to further household expansion through 2028. This broadens the local renter pool and supports occupancy stability, even as neighborhood occupancy levels currently align closer to national mid-range readings.
Safety indicators are mixed in this part of Raleigh. Within the metro, the neighborhood’s overall crime rank places it competitive among Raleigh-Cary neighborhoods (123 out of 331), but nationally it aligns below the median for safety. For investors, this suggests closer attention to security features and resident experience as part of lease management.
Trend signals diverge: property offenses are trending down year over year (a favorable move compared with many areas), while violent offense rates increased versus the prior year. Owners can mitigate perception and retention risks with visible security measures, lighting, and community engagement, and should underwrite to conservative assumptions where appropriate.
Proximity to major corporate offices in the Raleigh–Durham corridor supports commuter convenience and renter demand, notably from MetLife, Amerisource Bergen, John Deere, and Erie Insurance.
- MetLife — insurance (9.0 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (9.6 miles)
- Amerisource Bergen — pharmaceuticals distribution (10.4 miles)
- John Deere Morrisville Training Center — industrial & training offices (10.5 miles)
- Erie Insurance Group — insurance (11.3 miles)
This 67-unit, 2013-vintage asset benefits from a high-cost homeownership environment and a renter share that ranks above the metro median—factors that support tenant depth and lease retention. Neighborhood occupancy has improved over the past five years, though current levels are closer to national mid-range, suggesting prudent underwriting on lease-up and renewal assumptions. According to CRE market data from WDSuite, elevated neighborhood rents relative to many areas are balanced by solid incomes, which helps sustain demand for quality rentals.
The asset’s newer construction compared with the neighborhood’s older housing stock positions it competitively against legacy properties, with potential to capture residents seeking modern finishes and systems. Within a 3-mile radius, continued growth in population and households—along with forecasts for further household expansion through 2028—indicates a larger tenant base over the next cycle. Investors should weigh this demand tailwind against local amenity dispersion, mixed safety trends, and occupancy that sits nearer the national midpoint.
- 2013 construction offers competitive positioning versus older neighborhood stock and may temper near-term capex
- High-cost ownership market reinforces rental demand and supports pricing power for well-managed assets
- Above-metro-median renter concentration and 3-mile household growth expand the tenant base
- Underwrite conservatively: neighborhood occupancy sits near national mid-range and safety trends are mixed
- Limited neighborhood retail density places added importance on on-site amenities and management for retention