| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 76th | Best |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 Crimson Cross Ct, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 2008 |
| Units | 48 |
| Transaction Date | 2017-09-21 |
| Transaction Price | $6,500,000 |
| Buyer | Blue Ridge Apts, LLC |
| Seller | Blue Ridge Apartments, LLC |
601 Crimson Cross Ct Raleigh Multifamily Investment
2008-vintage, 48-unit asset in an inner-suburb location with a sizable renter base and workforce depth, according to WDSuite’s CRE market data.
This inner-suburb pocket of Raleigh-Cary (neighborhood rating: B+) is competitive among Raleigh-Cary neighborhoods for overall livability (rank 88 of 331), offering above-median access to parks and grocery options. Cafe and pharmacy density are limited, pointing to a quieter residential setting rather than a high-amenity corridor.
Multifamily demand is supported by a high share of renter-occupied housing within a 3-mile radius (roughly two-thirds of units are renter-occupied), indicating meaningful depth for leasing and renewal strategies. Neighborhood rents track near the national middle and a moderate rent-to-income profile can support retention, which is a constructive read-through for operators focused on pricing power and lease management in commercial real estate analysis.
The property’s 2008 construction is newer than the neighborhood’s average vintage (1971). That relative youth can improve competitive positioning versus older stock and help moderate near-term capital expenditures, while still leaving room for targeted value-add and modernization to support rent growth and tenancy duration.
Demographics aggregated within a 3-mile radius show an educated renter pool and a trend toward smaller household sizes. While population has edged lower, household counts have risen and are projected to continue increasing, which typically expands the renter pool and supports occupancy stability. Rising area incomes further underpin leasing fundamentals and renewal capture.
At the metro level, neighborhood occupancy is below the Raleigh-Cary median and has softened over five years, suggesting operators should emphasize leasing velocity, renewals, and resident experience to outperform local averages. Even with this softness, above-median parks and childcare access broaden appeal to working households.
Safety indicators rank below the Raleigh-Cary metro average (crime rank 230 out of 331), and national percentiles place the area on the lower end of safety compared with U.S. neighborhoods. Recent readings indicate increases in both property and violent offenses. These patterns warrant a practical risk-management approach, including lighting, access controls, and resident engagement.
Investors should frame safety comparatively and monitor trends rather than focusing on block-level claims. Incorporating security measures and community partnerships into underwriting can help support resident retention and asset performance over the hold period.
Proximity to diversified employers in insurance, life sciences, logistics, and manufacturing training supports commuter convenience and helps stabilize renter demand, including MetLife, Erie Insurance Group, John Deere Morrisville Training Center, AmerisourceBergen, and Quintiles.
- MetLife — insurance (6.16 miles)
- Erie Insurance Group — insurance (6.55 miles)
- John Deere Morrisville Training Center — manufacturing training (7.75 miles)
- Amerisource Bergen — pharmaceutical distribution (7.99 miles)
- Quintiles Transnational Holdings — clinical research (9.97 miles) — HQ
601 Crimson Cross Ct combines a 2008 vintage and mid-size scale with a deep renter base and educated workforce in Raleigh’s inner suburbs. While neighborhood occupancy trends sit below the metro median, amenity access is competitive at the metro level (notably parks and childcare), which helps with broad appeal and lease retention. According to CRE market data from WDSuite, this positioning supports steady demand even as operators focus on execution.
Relative to older local stock, the asset’s vintage can reduce immediate capital intensity and create room for targeted value-add to drive rent and renewal lift. Demographics within a 3-mile radius show rising household counts and smaller household sizes despite population fluctuations, typically expanding the renter pool and aiding occupancy stability. Underwriting should balance measured rent positioning with income growth, and include pragmatic security investments given below-average safety readings.
- 2008 construction offers competitive edge versus older neighborhood stock with selective upgrade potential
- Deep 3-mile renter base and educated workforce support demand and retention
- Amenity access (parks, childcare) competitive among Raleigh-Cary neighborhoods
- Risk: below-metro occupancy and lower safety percentiles require focused leasing and security planning