| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 74th | Good |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4500 Tournament Dr, Raleigh, NC, 27612, US |
| Region / Metro | Raleigh |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | 2014-11-21 |
| Transaction Price | $23,250,000 |
| Buyer | PRG FALLS AT DURALEIGH ASSOCIATES LLC |
| Seller | RRE FALLS AT DURALEIGH HOLDINGS LLC |
4500 Tournament Dr Raleigh Multifamily Investment
Neighborhood data indicate a deep renter pool and steady demand drivers, according to WDSuite’s CRE market data, with ownership costs that tend to sustain reliance on rentals. Focused operations and selective upgrades can help capture tenants drawn by major employment nodes and access to Raleigh-Cary amenities.
This Inner Suburb location in Raleigh balances residential stability with access to the broader Raleigh-Cary job market. Neighborhood rents sit around the national mid-range (63rd percentile nationally), while the neighborhood’s occupancy trend is softer than national norms, signaling the need for active leasing and competitive positioning. The neighborhood carries a B- rating and ranks 160 out of 331 Raleigh-Cary neighborhoods — roughly mid-pack within the metro — based on CRE market data from WDSuite.
Amenities are mixed: pharmacy access is a relative strength (95th percentile nationally; rank 6 of 331 within Raleigh-Cary), while cafes, groceries, restaurants, and parks are limited within the neighborhood footprint. For multifamily operations, this underscores the value of on-site conveniences and partnerships with nearby services to support resident retention.
Renter demand fundamentals are notable: 64.3% of housing units in the neighborhood are renter-occupied (rank 21 of 331), indicating a large tenant base for a 20-unit asset. Median home values are elevated for the area, which, paired with a moderate rent-to-income profile, can sustain rental demand and support lease retention for appropriately positioned units.
Within a 3-mile radius, demographics show population growth alongside an increase in households and higher-income segments, pointing to a larger tenant base over time. Forecasts indicate further gains in households with slightly smaller average household sizes by 2028, which typically supports multifamily absorption and occupancy stability when properties are maintained competitively.
Safety indicators for the neighborhood are weaker than national averages and below the Raleigh-Cary metro midpoint. The area’s crime ranking is 212 out of 331 metro neighborhoods, and national percentiles signal comparatively higher incident rates. Property and violent offense measures trend on the higher side versus nationwide benchmarks, so investors often plan for lighting, access control, and community engagement to support resident comfort and retention. Monitoring trend direction and coordinating with local resources is prudent.
Proximity to insurance, life sciences, and technology employers supports workforce housing demand and commute convenience for renters. The nearby base includes MetLife, AmerisourceBergen, Quintiles Transnational Holdings, Biogen Idec, and Cisco Systems.
- MetLife — insurance (5.1 miles)
- AmerisourceBergen — pharma distribution (6.1 miles)
- Quintiles Transnational Holdings — clinical research (7.2 miles) — HQ
- Biogen Idec — biotech (8.6 miles)
- Cisco Systems, Building 8 — networking/technology (9.0 miles)
1987 construction suggests near- to medium-term value-add potential through unit renovations, common-area refresh, and systems upgrades to sharpen competitiveness against newer product. Neighborhood-level occupancy runs below national norms, but a high share of renter-occupied housing and rising 3-mile household counts support demand depth and potential for steady leasing with disciplined operations. Elevated home values relative to incomes locally tend to reinforce renter reliance on multifamily housing, which can aid retention and reduce turnover when pricing is aligned with the market.
This 20-unit footprint can benefit from proximity to diversified employers in insurance, life sciences, and technology. According to commercial real estate analysis from WDSuite, neighborhood rents are moderate nationally, and rent-to-income levels indicate manageable affordability pressure — a setup that can support occupancy stability if execution focuses on curb appeal, security, and amenity-light efficiencies.
- Value-add potential from 1987 vintage via targeted interiors and building systems
- High renter-occupied share indicates a large tenant base for leasing velocity
- Employment proximity across insurance, life sciences, and technology supports demand
- Ownership costs relative to income reinforce rental demand and lease retention
- Risks: neighborhood occupancy and safety metrics require strong operations and resident experience