| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 86th | Best |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4801 Five Leaf Ln, Raleigh, NC, 27613, US |
| Region / Metro | Raleigh |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2015-03-11 |
| Transaction Price | $31,000,000 |
| Buyer | THORNHILL APARTMENTS OWNER LLC |
| Seller | AB MERION II THORNHILL LLC |
4801 Five Leaf Ln Raleigh Suburban Multifamily near RTP
Positioned in a high-income North Raleigh pocket where elevated home values sustain renter reliance on multifamily housing, according to WDSuite’s CRE market data. Neighborhood occupancy sits below the metro median but stable demand from nearby employers and schools supports steady leasing fundamentals.
This suburban neighborhood carries an A- rating and competes well within the Raleigh-Cary metro, ranked 86 out of 331 neighborhoods. Rents skew higher than many areas (national 74th percentile for median contract rent), while the rent-to-income ratio sits at 0.13, suggesting manageable affordability that can support retention and selective pricing power for professionally managed assets.
Local livability leans family-friendly: average school ratings are above many peers (75th percentile nationally), parks access is strong (79th percentile), and childcare density is competitive across the metro (ranked 33 of 331). Dining and cafe density are limited inside the neighborhood core, so residents typically rely on nearby corridors for retail and restaurants—an operating consideration when marketing amenities and convenience.
For investors, occupancy at the neighborhood level is below the metro median (ranked 251 of 331), yet it has improved over the past five years, indicating resilient baseline demand. Within a 3-mile radius, approximately 39% of housing units are renter-occupied, creating a meaningful tenant base for small and mid-size multifamily. Elevated home values (84th percentile nationally) point to a high-cost ownership market that can reinforce multifamily demand and support lease stability.
The property’s 1999 vintage is newer than the neighborhood’s average construction year of 1981. This positioning can be competitive versus older stock, while still allowing for targeted value-add and systems modernization to meet current renter expectations without the heavier capex often associated with 1970s–1980s buildings.
Safety indicators here trend below national benchmarks, with overall crime performance in the lower tiers (28th percentile nationally) and a metro rank of 176 out of 331 neighborhoods. Recent estimates also show an uptick in violent offense rates over the last year. Investors should underwrite with prudent security and operations planning, and compare insurer requirements and property-level loss histories to neighborhood trends rather than to block-level anecdotes.
Against regional peers, the area is below the metro average on safety but not uniquely so for growth corridors near major employment nodes. Monitoring multi-year trends and reinforcing lighting, access control, and resident engagement can help maintain leasing traction as the submarket continues to mature.
Proximity to Research Triangle employers supports weekday traffic and a stable renter pool, particularly among life sciences, insurance, and advanced services. Key nearby employers include MetLife, AmerisourceBergen, John Deere’s training operations, Quintiles Transnational Holdings, and Biogen.
- MetLife — insurance services (5.6 miles)
- AmerisourceBergen — pharmaceutical distribution (6.2 miles)
- John Deere Morrisville Training Center — industrial training (6.6 miles)
- Quintiles Transnational Holdings — clinical research (6.9 miles) — HQ
- Biogen Idec — biotechnology (8.5 miles)
This 24-unit, 1999-built asset sits in a North Raleigh neighborhood with above-average incomes and high home values, factors that underpin durable renter demand. Neighborhood occupancy is below the metro median but has improved in recent years, while a sizeable renter-occupied share within a 3-mile radius provides depth to the tenant base. According to CRE market data from WDSuite, local rents benchmark above many U.S. neighborhoods, yet rent-to-income levels indicate room for disciplined revenue management.
The vintage offers a balanced profile: competitive versus older 1980s stock with potential for targeted value-add (interiors, efficiency upgrades, curb appeal) to enhance positioning. Access to major RTP employers further supports leasing velocity and renewal potential, though operators should plan for measured security investments and market around limited walkable retail by emphasizing access to nearby corridors.
- Newer 1999 construction relative to area average, with value-add and modernization upside
- High-cost ownership market (84th percentile home values) supports sustained multifamily demand
- Renter base within 3 miles and proximity to RTP employers bolster occupancy stability
- Neighborhood occupancy below metro median presents both risk and potential for operational outperformance
- Safety metrics lag regional and national benchmarks—underwrite security and insurance accordingly