| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 82nd | Best |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 501 E Whitaker Mill Rd, Raleigh, NC, 27608, US |
| Region / Metro | Raleigh |
| Year of Construction | 1984 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
501 E Whitaker Mill Rd Raleigh Value‑Add Multifamily
Inner-suburb location with solid renter demand and high-income households supports steady leasing, according to WDSuite’s CRE market data from recent commercial real estate analysis.
Situated in an Inner Suburb of Raleigh, this asset benefits from neighborhood fundamentals that are competitive in the metro and generally above national midpoints for renter appeal. Neighborhood occupancy is above the national midpoint and has trended upward in recent years, supporting stability for multifamily operators (neighborhood metric, not property-specific; source: WDSuite).
Access to daily needs is a practical strength: restaurants are comparatively dense (competitive among Raleigh neighborhoods) and grocery and pharmacy access score above national midpoints, while park access sits in a high national percentile, enhancing livability for residents. Café and childcare density are lighter relative to peers, which may modestly temper walkable convenience.
Within a 3-mile radius, households have grown in recent years and are projected to expand further by 2028, pointing to renter pool expansion and support for occupancy and renewal rates. The share of housing units that are renter-occupied is a slight majority in this radius, indicating depth in the tenant base rather than reliance on a narrow segment.
The local ownership market is high cost by national standards, with home values in a high national percentile. In practice, elevated ownership costs tend to sustain multifamily reliance and can reinforce pricing power and retention for well-run properties. Neighborhood-level NOI per unit benchmarks sit in the upper national quartile, underscoring income durability in comparable assets (per WDSuite).
The property’s 1984 vintage is newer than much of the surrounding housing stock (neighborhood average construction year skews older), which can be competitively advantageous versus pre‑war inventory. Investors should still plan for mid-life system upgrades and targeted renovations to capture value-add upside and support rent positioning.
Safety signals are mixed and should be considered at the neighborhood level rather than the property. Compared with 331 Raleigh‑Cary neighborhoods, the area ranks in the lower half for safety, indicating higher crime exposure than the metro median. Nationally, violent and property offense rates place the neighborhood below national midpoints for safety; however, property offenses have declined year over year, suggesting some improvement in trend (WDSuite).
Investors should incorporate these dynamics into underwriting via security planning, lighting and access controls, and partnership with professional management to support resident experience and retention.
Renter demand is supported by proximity to regional employers in insurance, life sciences, healthcare distribution, and advanced manufacturing training, offering diverse white‑collar and skilled roles within commutable distance.
- MetLife Auto & Home Craig Conley LUTCF — insurance services (9.2 miles)
- MetLife — insurance (9.5 miles)
- Erie Insurance Group — insurance (10.8 miles)
- John Deere Morrisville Training Center — equipment manufacturing training (11.1 miles)
- Amerisource Bergen — healthcare distribution (11.1 miles)
This 32‑unit, 1984‑vintage asset pairs inner‑suburb fundamentals with a tenant base supported by high household incomes and expanding household counts within a 3‑mile radius. Neighborhood occupancy is above the national midpoint and restaurant, grocery, pharmacy, and park access outpace national averages, supporting leasing velocity and renewal performance. According to CRE market data from WDSuite, neighborhood NOI per unit sits in the upper national quartile, aligning with income resilience for comparable multifamily.
1984 construction is newer than much of the surrounding housing stock, offering a competitive edge versus older inventory while leaving room for targeted upgrades to drive value‑add returns. Elevated ownership costs locally reinforce reliance on rentals, and a majority renter-occupied share within the 3‑mile radius suggests depth in the tenant pool. Underwriting should account for neighborhood safety being below the metro median, offset by recent improvement in property offense trends and the potential impact of professional management and security measures.
- Inner‑suburb location with above‑midpoint neighborhood occupancy supports leasing stability
- High-cost ownership market sustains renter reliance and pricing power
- 1984 vintage allows value‑add through system upgrades and modernization
- Neighborhood NOI per unit trends in the upper national quartile (WDSuite)
- Risk: neighborhood safety ranks below metro median; mitigate via security and active management