| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5072 N New Hope Rd, Raleigh, NC, 27604, US |
| Region / Metro | Raleigh |
| Year of Construction | 1979 |
| Units | 108 |
| Transaction Date | 2017-06-15 |
| Transaction Price | $8,075,000 |
| Buyer | JEM Holdings, LLC |
| Seller | Drucker & Falk, LLC Properties |
Raleigh Value-Add at 5072 N New Hope Rd
High renter concentration in the surrounding neighborhood suggests a deep tenant base, while occupancy has been softer than metro norms, according to CRE market data from WDSuite.
Situated in an inner-suburb pocket of Raleigh, the area offers everyday convenience with a primarily residential feel. Grocery access is a relative strength, ranking 12th of 331 metro neighborhoods and performing well above national norms, while restaurants are competitive among Raleigh-Cary neighborhoods (35th of 331). By contrast, parks, cafes, childcare, and pharmacies are sparse within the immediate neighborhood, a trade-off investors should weigh against proximity to core arterials.
The neighborhood skews renter-heavy: renter-occupied housing accounts for a large share of units and benchmarks in the top quartile nationally, supporting a deeper tenant pipeline for multifamily. Neighborhood occupancy is measured for the neighborhood, not the property, and it has trended below the metro average, indicating that renovation scope, amenity programming, and leasing execution can be meaningful differentiators. With a 1979 vintage, the asset presents value-add and systems modernization potential to compete with newer stock and upgraded 1980s peers.
Within a 3-mile radius, recent patterns show a small population dip alongside growth in households and smaller average household sizes, a mix that can expand the renter pool and support steady leasing. Looking ahead to 2028, forecasts point to meaningful population growth and a larger household base, which should broaden the tenant pipeline and support occupancy stability. This commercial real estate analysis is grounded in WDSuite data on neighborhood and metro dynamics.
Home values are elevated relative to local incomes, which can reinforce reliance on rental housing and aid retention. With rent-to-income metrics near manageable levels for the area, operators may have room for disciplined pricing while monitoring affordability pressure to maintain renewal rates.
Safety indicators are mixed. Relative to Raleigh-Cary peers, the neighborhood s overall crime rank sits in the lower half (191 out of 331), indicating conditions below the metro average. Nationally, the area benchmarks in a lower safety tier (around the 25th percentile), so investors should underwrite prudent lighting, access control, and site security.
Property-related incidents have improved year over year, placing the neighborhood above the national median for momentum. Violent offense indicators, however, benchmark in a low national percentile, warranting conservative assumptions around security and potential operating costs. These figures reflect neighborhood-level conditions rather than site-specific performance, and patterns can vary within short distances.
A cluster of nearby employers across insurance, life sciences, and corporate services supports workforce housing demand and commute convenience for residents. Notable names include MetLife, AmerisourceBergen, John Deere s training center, and Quintiles (IQVIA).
- MetLife — insurance (12.6 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (13.3 miles)
- Amerisource Bergen — pharmaceuticals distribution (13.9 miles)
- John Deere Morrisville Training Center — industrial training (14.0 miles)
- Quintiles Transnational Holdings — life sciences CRO (14.9 miles) — HQ
This 108-unit, 1979-vintage asset offers a straightforward value-add path in a renter-heavy Raleigh submarket. The neighborhood s renter concentration supports a deeper tenant base, while neighborhood occupancy (measured at the neighborhood level, not the property) tracks below the metro average, putting a premium on targeted renovations and disciplined leasing. Based on CRE market data from WDSuite, grocery and dining proximity outperform many Raleigh peers, while limited park and cafe density underscores the importance of on-site community features.
Within a 3-mile radius, households have grown even as population edged down, and forecasts point to meaningful population growth and a larger household base by 2028. That combination typically expands the renter pool and supports occupancy stability. Given average unit sizes around 890 square feet, investors may find upside through interior updates, energy-efficiency improvements, and selective amenity enhancements, balanced against prudent capital planning and sensitivity to affordability and safety considerations.
- Renter-heavy neighborhood supports depth of demand and leasing durability
- 1979 vintage presents clear value-add and systems modernization potential
- Strong grocery and dining access; use on-site amenities to offset limited parks/cafes
- 3-mile outlook indicates a larger household base, supporting occupancy stability
- Risks: below-metro neighborhood occupancy and safety benchmarks require conservative underwriting