| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 84th | Best |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6219 Hunter St, Raleigh, NC, 27612, US |
| Region / Metro | Raleigh |
| Year of Construction | 2004 |
| Units | 39 |
| Transaction Date | 2002-11-05 |
| Transaction Price | $115,500 |
| Buyer | WINDSOR SPRING HOUSING ASSOCIATES LLC |
| Seller | EVERGREEN CONSTRUCTION CO |
6219 Hunter St Raleigh Multifamily Investment Snapshot
Positioned in an inner-suburban pocket of Raleigh with solid incomes and steady household growth, this 2004 vintage asset benefits from a broad renter base and grocery access, according to WDSuite s commercial real estate analysis.
Raleigh s inner-suburban neighborhood around 6219 Hunter St carries a B rating and ranks 153 out of 331 metro neighborhoods above the metro median per CRE market data from WDSuite. Local amenity density is uneven: grocery access ranks 56 of 331 (top half locally and 77th percentile nationally), while cafes, restaurants, parks, and pharmacies are sparse, reinforcing a more auto-oriented living pattern investors should factor into leasing and retention strategies.
Neighborhood rent levels trend above the metro median (contract rent rank 103 of 331; 74th percentile nationally). Combined with a rent-to-income ratio near the national midpoint and a median household income in the 81st percentile nationally, the area supports pricing power without overextending typical renter budgets, which can aid lease retention.
Demographics aggregated within a 3-mile radius indicate population growth over the last five years with additional gains forecast. Households expanded historically and are projected to rise further even as average household size trends lower, pointing to a larger tenant base and steady absorption potential for smaller units. Renter-occupied share within this 3-mile area is a meaningful portion of housing stock, providing depth for multifamily demand; however, forecasts suggest a gradual tilt toward ownership, which could introduce mild competitive pressure over time.
Neighborhood occupancy is below national benchmarks (41st percentile nationally), yet it has improved over the past five years locally. NOI per unit performance sits near the national midpoint, suggesting stable operations when assets are positioned correctly on finishes and rent levels.
Safety conditions compare less favorably than many areas in the region and nationwide. The neighborhood s crime rank is 219 out of 331 Raleigh Cary neighborhoods, placing it below the metro median. Nationally, property and violent offense measures sit in the lower percentiles (around the bottom quartile), indicating elevated incident rates relative to many U.S. neighborhoods.
Recent year-over-year trends in the WDSuite dataset show property offenses increasing and a sharp rise in violent offense rates. Investors typically address this with targeted security enhancements, lighting, and resident engagement, and should underwrite accordingly rather than assume immediate reversion to historical norms.
The surrounding employment base features insurance, pharma/biotech, clinical research, industrial training, and enterprise technology nodes that support commuting convenience and renter demand. Notable nearby employers include MetLife, AmerisourceBergen, John Deere s training center, Quintiles (IQVIA), and Biogen.
- MetLife insurance (7.2 miles)
- AmerisourceBergen pharmaceutical distribution (8.1 miles)
- John Deere Morrisville Training Center industrial training (8.3 miles)
- Quintiles Transnational Holdings clinical research (8.9 miles) HQ
- Biogen Idec biotech (10.4 miles)
Built in 2004, the property competes well against older Raleigh stock while still warranting selective modernization as systems age. The inner-suburban location shows above-median metro standing with strong grocery access and high household incomes, supporting rent levels that are above local medians without severe affordability pressure, based on CRE market data from WDSuite. Neighborhood occupancy trails national benchmarks but has improved, suggesting execution and positioning remain key levers.
Within a 3-mile radius, recent and forecast population and household growth expand the renter pool, even as average household size declines a setup that can support leasing velocity for efficient floor plans. Forecasts indicate a gradual shift toward ownership, so strategies that emphasize value, security, and commute convenience to major employers should help sustain demand and retention.
- 2004 vintage offers competitive positioning vs. older assets with targeted upgrade upside
- Above-median neighborhood standing in Raleigh with strong grocery access and high household incomes
- Expanding 3-mile household base and smaller household sizes support a broader tenant pool
- Pricing power supported by rents above metro medians and manageable rent-to-income dynamics
- Risks: safety metrics below metro median, amenity scarcity, and a forecast tilt toward ownership may add leasing friction