| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 68th | Good |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6200 Daybrook Cir, Raleigh, NC, 27606, US |
| Region / Metro | Raleigh |
| Year of Construction | 2008 |
| Units | 30 |
| Transaction Date | 2006-10-18 |
| Transaction Price | $3,914,500 |
| Buyer | 1052 1 LC |
| Seller | 1-40 WESTERN BLVD LLC |
6200 Daybrook Cir, Raleigh NC Multifamily Investment
Positioned in an Inner Suburb of the Raleigh–Cary metro, this 2008 vintage asset competes well against older stock and benefits from a deep renter base in the surrounding neighborhood, according to WDSuite’s CRE market data. Neighborhood occupancy and renter demand trends suggest stable leasing fundamentals with room to optimize operations as the submarket evolves.
The property sits in an Inner Suburb of Raleigh–Cary with a neighborhood rating of B (ranked 154 out of 331 metro neighborhoods), indicating competitive livability and investment appeal compared with the metro at large. At the neighborhood level, the occupancy rate is measured at 86.4%, and renter-occupied housing is high (renter concentration at 76.8%), supporting depth of tenant demand for multifamily. These are neighborhood metrics, not property performance.
2008 construction is newer than the neighborhood’s average 1990 vintage, offering relative competitiveness versus older product. Investors should still plan for mid-life system updates and selective modernization to maintain positioning and support rent attainment.
Access to daily needs is solid for groceries (neighborhood grocery density ranks 41 of 331; top quartile nationally), and restaurants are reasonably accessible (72nd national percentile). However, neighborhood counts for parks, pharmacies, and cafes are limited, which can modestly affect lifestyle appeal and should be weighed against the property’s convenience to employment centers.
Within a 3-mile radius, demographics show a slight recent population dip but a modest increase in households, implying smaller household sizes and a steady renter pool. Forward-looking estimates point to population growth and a notable increase in households over the next five years, which would expand the tenant base and support occupancy stability. Median and mean household incomes in this 3-mile area have risen, reinforcing the capacity to support rent levels in line with neighborhood and metro trends.
Ownership remains a relatively high-cost option in context (value-to-income sits in a higher national percentile), which can sustain reliance on multifamily rentals. Neighborhood rent-to-income is measured at roughly a quarter of income, suggesting manageable affordability pressure that can aid lease retention while still allowing disciplined pricing actions.
Safety performance is mixed when viewed comparatively. The neighborhood s crime rank is 211 out of 331 within the Raleigh Cary metro, which is below the metro median. Nationally, safety sits in lower percentiles (overall around the 23rd percentile), indicating higher incident rates than many neighborhoods nationwide.
Trends vary by category: estimated property offenses have improved year over year (down modestly), while estimated violent offenses have increased over the same period. These figures are neighborhood-level indicators meant to contextualize risk and lease management considerations; on-site security, lighting, and resident engagement strategies can help mitigate exposure relative to the broader area.
Proximity to major employers underpins renter demand and commute convenience, led by MetLife, John Deere, AmerisourceBergen, Quintiles Transnational Holdings, and Cisco Systems. This concentration of corporate offices supports leasing durability for workforce and professional tenants.
- MetLife insurance (4.7 miles)
- John Deere Morrisville Training Center manufacturing/training (6.2 miles)
- AmerisourceBergen healthcare distribution (6.6 miles)
- Quintiles Transnational Holdings life sciences CRO (8.8 miles) HQ
- Cisco Systems, Building 8 technology (9.1 miles)
This 30-unit, 2008-built asset offers a newer-vintage alternative in an Inner Suburb where much of the competitive set dates to the 1990s, creating an edge on systems and finishes with targeted upgrades. Neighborhood renter-occupied share is high, and grocery and restaurant access are favorable, supporting day-to-day livability that helps sustain tenant retention. Based on CRE market data from WDSuite, the neighborhood s occupancy and rent-to-income positioning indicate steady demand with room for operational optimization rather than aggressive lease-up risk.
Forward views within a 3-mile radius point to growth in households and incomes, expanding the renter pool and supporting rent performance, while ownership remains comparatively costly in context, reinforcing rental reliance. Key risks include lower safety percentiles relative to national benchmarks and limited park/pharmacy amenity density; both can be addressed through common-area enhancements, security measures, and focused resident services.
- Newer 2008 vintage vs. neighborhood average, with value-add via selective modernization
- High neighborhood renter-occupied share supports a deep tenant base and leasing stability
- 3-mile outlook shows household and income growth, reinforcing demand and pricing power
- Accessible groceries and restaurants underpin daily convenience and retention
- Risk: lower safety percentiles and limited parks/pharmacies; plan for security and amenity upgrades