| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 48th | Fair |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6350 Bergot St, Raleigh, NC, 27616, US |
| Region / Metro | Raleigh |
| Year of Construction | 2012 |
| Units | 36 |
| Transaction Date | 2018-08-28 |
| Transaction Price | $52,976,000 |
| Buyer | STERLING TOWN CENTER OWNER LLC |
| Seller | STERLING POE LP |
6350 Bergot St Raleigh NC Multifamily Investment
Neighborhood occupancy has held in the mid-90s with upward momentum over the past five years, supporting income stability for well-positioned assets, according to WDSuite’s CRE market data. This inner-suburban location combines strong renter demand with a high share of renter-occupied units at the neighborhood level.
The property sits in an Inner Suburb of Raleigh-Cary rated A- at the neighborhood level, where occupancy is competitive among metro peers (ranked 96 out of 331) and in the top quintile nationally for occupancy. A renter-occupied share above half of housing units (ranked 46 of 331; 89th percentile nationally) indicates a deep tenant base that can support leasing velocity and retention for multifamily operators.
Amenity access is a relative strength: the neighborhood’s overall amenity rank is 17 of 331, competitive among Raleigh-Cary neighborhoods and in the top quartile nationally. Dining and parks also score well (restaurants ranked 51 of 331, parks 44 of 331; both near the top quartile nationally), while day-to-day needs like groceries and pharmacies track above the metro median and solidly ahead of national midpoints. These patterns typically reduce friction for residents and can bolster lease renewals.
Within a 3-mile radius, population and households have grown modestly in recent years, with households rising faster than population, pointing to smaller average household sizes and a broader pool of renters. Looking ahead to 2028, forecasts indicate notable increases in both households and incomes within this radius, expanding the potential renter pool and supporting occupancy stability for professionally managed communities.
At the neighborhood level, median contract rents have trended higher over five years and are projected to continue rising, while the rent-to-income ratio sits at a level that suggests manageable affordability pressure for many tenants. Median home values track moderately above national midpoints, which can sustain reliance on rental housing and support pricing power for well-amenitized, efficiently managed assets.
Safety outcomes are a consideration here. Compared with 331 Raleigh-Cary neighborhoods, this area ranks in the lower half for crime (crime rank 242 of 331). Nationally, its safety standing sits well below the median, with violent and property offense measures positioned in low national percentiles, indicating higher incident rates than many U.S. neighborhoods.
Recent year-over-year trends indicate increases in both violent and property offenses at the neighborhood level. Investors typically account for this by underwriting for security measures, insurance, and operational oversight, and by emphasizing resident screening and property-level design that can support safety outcomes relative to local context.
Proximity to major employers in the broader Raleigh-Durham corridor supports workforce housing demand and commute convenience, notably from MetLife, AmerisourceBergen, John Deere, and Quintiles. These employment centers help sustain leasing depth for properties serving a range of income bands.
- MetLife — insurance/services (13.6 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance (14.7 miles)
- Amerisource Bergen — pharmaceuticals distribution (14.8 miles)
- John Deere Morrisville Training Center — manufacturing training (14.9 miles)
- Quintiles Transnational Holdings — clinical research (15.6 miles) — HQ
Constructed in 2012, the asset is newer than the neighborhood’s average vintage and should compete well against older stock while allowing owners to prioritize targeted upgrades over heavy near-term capital expenditure. At 36 units with efficient average floor plans, the property aligns with a renter base seeking functionality and attainable pricing, a segment supported by a high neighborhood renter-occupied share and occupancy levels that, according to CRE market data from WDSuite, outperform national medians.
Within 3 miles, forecasts point to meaningful growth in households and incomes through 2028, implying a larger tenant base and potential for steady absorption. Neighborhood rents have risen over the past five years and are projected to continue advancing, while ownership costs sit moderately above national midpoints—factors that tend to reinforce reliance on multifamily housing and support rent collections and renewal capture for well-managed communities.
- 2012 construction offers competitive positioning versus older submarket stock with targeted value-add potential
- Neighborhood occupancy is strong and renter concentration is high, supporting depth of tenant demand
- 3-mile forecasts show household and income growth, expanding the renter pool and aiding leasing stability
- Rent growth momentum and moderately high ownership costs support pricing power for well-managed assets
- Risk: below-median safety metrics require prudent security, insurance, and operating practices