| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 15th | Poor |
| Amenities | 14th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 701 Bright Creek Way, Raleigh, NC, 27601, US |
| Region / Metro | Raleigh |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
701 Bright Creek Way Raleigh Multifamily Investment
Neighborhood data point to a durable renter base and an ownership market that skews high-cost for buyers, according to WDSuite’s CRE market data. This positioning can support stable leasing for a 2007-vintage, 24-unit asset in Raleigh’s inner-suburban fabric.
This inner-suburb location in Raleigh offers a primarily residential setting with limited immediate retail density, which tends to favor drive-to shopping and services rather than walkable amenities. The neighborhood carries a C- rating and ranks 284 out of 331 metro neighborhoods, placing it below the metro median overall, per WDSuite’s CRE market data.
Housing fundamentals compare above the national median (68th percentile nationally), while neighborhood occupancy is below metro median (rank 266 of 331) yet has trended up over the past five years, suggesting gradual stabilization rather than outperformance. Note that occupancy and housing metrics reference the neighborhood, not the property.
Renter concentration is elevated for the neighborhood (among the highest shares metro-wide), indicating deeper tenant depth for multifamily leasing. At the same time, the ownership market skews high-cost relative to local incomes (96th percentile nationally for value-to-income ratio), a backdrop that can reinforce reliance on rental housing and support lease retention.
Within a 3-mile radius, demographics show population growth over the last five years with a meaningful increase in households and a forecast for further household expansion alongside smaller average household size by 2028. That combination typically broadens the renter pool and supports occupancy stability and absorption for well-positioned assets.
Vintage context: the neighborhood’s average construction year is 1983, while the subject property was built in 2007. The newer vintage can be competitively positioned versus older local stock, though investors should still plan for system updates and selective upgrades as the asset matures.
Relative to the Raleigh-Cary metro, the neighborhood’s safety profile trends below average, and national comparisons place it in lower safety percentiles. Property and violent offense indicators are on the higher side versus many neighborhoods nationwide, according to WDSuite’s CRE market data.
Recent trends show a year-over-year increase in both violent and property offense estimates at the neighborhood level. Investors typically underwrite with conservative loss assumptions, emphasize on-site security protocols, and monitor citywide trendlines over multiple periods rather than relying on a single year. All safety figures reference the neighborhood, not the property or a specific block.
Proximity to major employers supports commuter convenience and renter retention for workforce and professional households. Notable nearby employment nodes include MetLife, John Deere’s training operations, AmerisourceBergen, Quintiles (IQVIA), and Cisco Systems.
- MetLife — insurance and financial services (10.46 miles)
- John Deere Morrisville Training Center — manufacturing training and support (12.05 miles)
- AmerisourceBergen — pharmaceutical distribution (12.22 miles)
- Quintiles Transnational Holdings — life sciences CRO (14.05 miles) — HQ
- Cisco Systems, Building 8 — networking and technology (15.10 miles)
701 Bright Creek Way offers 24 units built in 2007 with a practical, suburban location that taps into a deep renter base and a high-cost ownership landscape. Neighborhood occupancy has improved over five years, while renter concentration is among the stronger shares in the metro, indicating a broad tenant pool. According to CRE market data from WDSuite, local ownership costs relative to income are elevated, which can sustain demand for professionally managed rentals and support leasing stability.
The asset’s newer vintage versus much of the surrounding stock can be a competitive advantage, though investors should budget for mid-life building systems and targeted interior updates. Within a 3-mile radius, recent and projected household growth alongside smaller household sizes points to ongoing renter pool expansion, supporting absorption and retention for well-managed units.
- 2007 construction offers competitive positioning versus older neighborhood stock; plan for mid-life system upgrades
- Deep renter concentration and high-cost ownership market bolster multifamily demand and lease retention
- 3-mile household growth and shrinking household size support a larger renter base and occupancy stability
- Neighborhood occupancy trending upward over five years suggests gradual stabilization, not peak performance
- Risks: below-metro safety percentiles and limited immediate amenity density warrant conservative underwriting and active asset management