| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 35th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 311 Stoney Moss Dr, Raleigh, NC, 27610, US |
| Region / Metro | Raleigh |
| Year of Construction | 2006 |
| Units | 64 |
| Transaction Date | 2005-12-29 |
| Transaction Price | $330,000 |
| Buyer | WATERBROOK APARTMENTS LLC |
| Seller | COMMUNITY ALTERNATIVES SUPPORTIVE ABODES |
311 Stoney Moss Dr Raleigh 64-Unit Multifamily
Neighborhood occupancy sits in the mid-90s with a renter concentration above the metro median, supporting demand resilience according to WDSuite’s CRE market data. Positioning caters to steady leasing in an inner-suburban Raleigh location with balanced rent levels and a broad tenant base.
Located in Raleigh’s inner suburbs, the neighborhood rates B- overall and is competitive among Raleigh-Cary, NC neighborhoods on amenities (ranked 49 out of 331 in the metro). Grocery, park, and pharmacy access score above national midpoints, while cafés are limited—suggesting daily conveniences are close, but lifestyle retail is thinner.
Multifamily fundamentals at the neighborhood level point to stable usage: occupancy is around the mid-90% range and has edged higher over five years, and the share of renter-occupied housing units is elevated. For investors, that indicates depth in the tenant pool and supports day-to-day leasing stability rather than sharp swings.
Construction year averages lean older locally (late 1980s), so a 2006-built asset should compete well versus legacy stock while still approaching mid-life system updates. Neighborhood median asking rents have advanced over the last five years, yet rent-to-income levels sit around the low-20% range, offering some pricing flexibility with standard lease management practices.
Demographics within a 3-mile radius show modest recent population growth with an expected increase in both population and households ahead. Forecasts also point to smaller average household sizes, which can expand the renter pool and support occupancy stability for well-located, professionally managed properties.
Safety metrics are mixed and should be underwritten with care. The neighborhood’s crime rank sits below the metro median (202 out of 331 Raleigh-Cary neighborhoods), placing it weaker than many peer areas and below national percentiles for safety. Recent trends show property offenses declining year over year, while violent offense estimates rose over the same period. Investors often mitigate these conditions through property-level security, lighting, and resident screening, and by monitoring submarket police and community initiatives over time.
Proximity to major employers across insurance, life sciences, and technology supports a steady commuter renter base and can aid retention. Notable nearby employers include MetLife, Erie Insurance, John Deere training, AmerisourceBergen, and Quintiles (IQVIA).
- MetLife Auto & Home Craig Conley LUTCF — insurance services (11.5 miles)
- Erie Insurance Group — insurance (12.8 miles)
- MetLife — insurance (12.9 miles)
- John Deere Morrisville Training Center — equipment training (14.5 miles)
- Amerisource Bergen — pharmaceutical distribution (14.6 miles)
- Quintiles Transnational Holdings — clinical research (16.3 miles) — HQ
311 Stoney Moss Dr offers a 64-unit, 2006-vintage property in an inner-suburban Raleigh location where neighborhood occupancy sits near the mid-90% range and renter-occupied housing share is elevated. The asset should compete favorably against older local stock while investors plan for mid-life building systems and select common-area refreshes. According to CRE market data from WDSuite, the area shows solid everyday amenities and stable renter demand, with rent-to-income dynamics that support disciplined pricing and retention strategies.
Within a 3-mile radius, modest recent population gains and a projected increase in households—alongside smaller average household sizes—point to a larger renter pool over time. Neighborhood home values and ownership costs remain moderate by national standards, which can sustain multifamily demand while leaving room for operators to balance occupancy and rent growth without overextending affordability.
- 2006 vintage competes well versus older neighborhood stock; plan for mid-life system updates and targeted value-add.
- Neighborhood occupancy near mid-90% with elevated renter-occupied share supports stable leasing and renewal potential.
- 3-mile demographics indicate growing households and smaller sizes, expanding the tenant base over time.
- Everyday amenities (grocery, parks, pharmacy) are solid; café/lifestyle retail is thinner but improving nearby could add appeal.
- Risk: Safety ranks below metro averages; underwrite security measures and monitor trends and local initiatives.