| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 40th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3900 Durham Dr, Raleigh, NC, 27603, US |
| Region / Metro | Raleigh |
| Year of Construction | 2010 |
| Units | 40 |
| Transaction Date | 2008-02-15 |
| Transaction Price | $475,000 |
| Buyer | BROOKRIDGE HOUSING LLC |
| Seller | MASON DONALD RAY |
3900 Durham Dr, Raleigh NC Multifamily Investment
Neighborhood fundamentals point to durable renter demand, with neighborhood occupancy trending high and a sizable share of units renter-occupied, according to CRE market data from WDSuite. For investors, this suggests a broad tenant base and potential for steady leasing performance at this address.
Located in Raleigh’s Inner Suburb, the surrounding neighborhood carries a B+ rating and shows strengths that matter to multifamily investors: neighborhood occupancy is high (ranked 59 out of 331 metro neighborhoods, placing it in the top quartile among 331), while renter-occupied housing comprises a majority of units, signaling depth in the tenant pool for a 40-unit asset.
Daily-needs access is a relative bright spot. Grocery availability, parks, childcare, pharmacies, and restaurants all rank in the top quartile among 331 Raleigh-Cary neighborhoods, supporting day-to-day livability and retention. One tradeoff: cafes are limited in this immediate area, which may modestly affect lifestyle appeal for some renter cohorts.
Schools in the area average 4.0 out of 5 (ranked 29 of 331, top quartile among 331), which can aid family renter retention. Home values trend elevated versus national norms (upper national percentiles), which often sustains reliance on rental housing and can support pricing power when managed with attention to value and renewals.
The property’s 2010 vintage is newer than the neighborhood’s older housing stock (average construction year 1957). For investors, this generally enhances competitive positioning versus older comparables, though prudent capital planning for mid-life systems and targeted modernization can further improve leasing velocity and rents.
Within a 3-mile radius, demographic patterns show a slight population contraction alongside an increase in households and smaller average household sizes today and in forward-looking forecasts. For multifamily, that shift typically points to a larger number of households competing for rental units, supporting occupancy stability despite modest population softening.
Safety indicators for the neighborhood trail metro and national benchmarks. The area’s crime rank sits at 246 out of 331 Raleigh-Cary neighborhoods, and national percentiles are low, indicating comparatively higher crime than many neighborhoods nationwide. Investors should underwrite with appropriate operating practices, security measures, and tenant screening, and weigh these factors against the location’s strong renter demand signals.
Year-over-year changes in both property and violent offense estimates indicate recent volatility. While block-level conditions can vary, framing expectations around comparative performance rather than isolated incidents is prudent when assessing risk and management needs.
Regional employers in insurance, life sciences, healthcare distribution, and technology within commuting range help support renter demand and lease retention for workforce and professional tenants. The following corporate offices illustrate the nearby employment base and commute convenience referenced.
- MetLife Auto & Home Craig Conley LUTCF — insurance (8.1 miles)
- Erie Insurance Group — insurance (8.9 miles)
- MetLife — insurance (11.2 miles)
- John Deere Morrisville Training Center — training facility (12.8 miles)
- Amerisource Bergen — healthcare distribution (13.1 miles)
- Quintiles Transnational Holdings — life sciences (15.2 miles) — HQ
- Biogen Idec — biotechnology offices (15.5 miles)
- Cisco Systems, Building 8 — technology offices (15.8 miles)
- Cisco Systems — technology offices (16.2 miles)
3900 Durham Dr offers investors a 2010-vintage, 40-unit asset positioned against older neighborhood stock, supporting competitive appeal with fewer near-term age-related deficiencies than many comparables. The surrounding neighborhood posts high neighborhood occupancy and a majority share of renter-occupied units, indicating a broad tenant base and potential for steady leasing. According to CRE market data from WDSuite, daily-needs amenities (grocery, parks, pharmacies, childcare, restaurants) rank favorably within the Raleigh-Cary metro, reinforcing livability and retention drivers.
Within a 3-mile radius, households have increased and are projected to expand further even as population trends level, implying smaller household sizes and ongoing renter pool expansion. Elevated ownership costs in the area bolster reliance on multifamily options, though lease management should account for rent-to-income pressure and neighborhood safety risks. Targeted value-add, unit modernization, and professional operations can capture demand while mitigating these exposures.
- 2010 vintage versus older local stock supports competitive positioning and moderated near-term capex
- High neighborhood occupancy and strong renter concentration point to depth of tenant demand
- Daily-needs amenities test well within the metro, aiding retention and leasing stability
- 3-mile household growth and smaller household sizes support ongoing renter pool expansion
- Risks: elevated rent-to-income pressure and below-average safety require active lease and property management