| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 81st | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6400 Lake Creek Rd, Raleigh, NC, 27609, US |
| Region / Metro | Raleigh |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6400 Lake Creek Rd Raleigh Multifamily Investment Opportunity
Inner-suburban location with a meaningful renter base and steady neighborhood occupancy, according to WDSuite’s CRE market data, supports durable leasing for investors evaluating Raleigh apartments.
This Inner Suburb neighborhood rates A- (ranked 56 of 331 metro neighborhoods), placing it in the top quartile locally for overall livability and investment fundamentals. Amenities are service-oriented rather than lifestyle-driven: grocery and pharmacy access test above national medians, while parks and cafés are sparse. For investors, this mix favors daily convenience over destination retail when marketing to residents.
Neighborhood rent levels sit around the metro mid-range and have risen over the past five years, while occupancy is in the high‑80s and has improved versus five years ago, based on WDSuite’s CRE market data. Renter-occupied housing accounts for about 42% of units, indicating a sizable tenant base that can support leasing velocity and renewal retention through cycles. Note these metrics are measured for the neighborhood, not the property.
Within a 3‑mile radius, population and households have grown in recent years, with households expanding faster than population—pointing to smaller average household sizes and a broader renter pool. Forward-looking projections indicate continued gains in households through 2028, which supports demand for professionally managed apartments and occupancy stability.
Educational attainment trends are strong (roughly 45% of adults hold a bachelor’s degree, top quartile nationally), and incomes have advanced meaningfully. Median home values are elevated for the metro context, which, alongside a moderate rent‑to‑income profile, suggests ownership remains a higher-cost alternative and helps sustain multifamily demand and lease retention.
Safety indicators are mixed and should be underwritten conservatively. The neighborhood ranks 177 out of 331 metro neighborhoods, placing it below the metro median for crime. Compared with neighborhoods nationwide, it falls below the national median for safety, though recent data show property incidents trending lower year over year while violent incidents have been more variable. Investors typically account for this with security measures, lighting, and resident screening rather than assuming rapid trend shifts.
Proximity to a wide base of corporate offices in insurance, pharma services, biotech, and technology underpins renter demand through commute convenience and diversified employment. Notable nearby employers include MetLife, AmerisourceBergen, John Deere’s training operations, IQVIA (Quintiles), and Biogen.
- MetLife — insurance (10.2 miles)
- AmerisourceBergen — pharma distribution (11.2 miles)
- John Deere Morrisville Training Center — industrial equipment training (11.4 miles)
- Quintiles Transnational Holdings — clinical research (12.1 miles) — HQ
- Biogen Idec — biotech (13.6 miles)
Raleigh’s inner‑suburban fundamentals at 6400 Lake Creek Rd favor stable multifamily performance: neighborhood occupancy has strengthened over the last five years, renter concentration is substantial, and 3‑mile household growth expands the tenant base. Elevated ownership costs relative to incomes support continued reliance on rentals, while moderate rent‑to‑income levels point to manageable affordability pressures that can aid renewal rates. These dynamics are supported by diversified employment nodes within 10–15 miles, offering a broad commuter pool.
According to CRE market data from WDSuite, the neighborhood scores in the top quartile locally for overall quality and posts above‑median access to daily‑needs retail, though lifestyle amenities are thinner. Underwriting that emphasizes retention, targeted common‑area enhancements, and prudent security spend can align with the area’s demand profile while accounting for safety variability.
- Strengthening neighborhood occupancy and sizable renter concentration support leasing stability
- 3‑mile household growth and educated workforce expand the renter pool
- Elevated ownership costs reinforce rental demand; moderate rent‑to‑income aids retention
- Proximity to diversified employers (insurance, life sciences, tech) supports steady demand
- Risk: safety metrics sit below metro median; plan for security, lighting, and screening