| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 84th | Best |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7501 Lead Mine Rd, Raleigh, NC, 27615, US |
| Region / Metro | Raleigh |
| Year of Construction | 2013 |
| Units | 118 |
| Transaction Date | 2012-05-07 |
| Transaction Price | $956,000 |
| Buyer | RALEIGH RETIREMENT RESIDENCE LLC |
| Seller | HAWTHORN DEVELOPMENT LLC |
7501 Lead Mine Rd Raleigh Multifamily Investment
North Raleigh s suburban fundamentals point to steady renter demand, with neighborhood occupancy trending firm and a higher-income tenant base, according to WDSuite s CRE market data. Investors should view this as a stability-focused play supported by proximity to major employment corridors.
Located in a suburban pocket of North Raleigh, the neighborhood scores a B with a rank of 133 among 331 metro neighborhoods, placing it above the metro median for overall livability. Occupancy at the neighborhood level remains resilient and sits in the top quartile nationally, indicating a supportive backdrop for collections and retention (these occupancy metrics describe the neighborhood, not the property).
The area skews educated and higher income (neighborhood demographics rank places it in the upper tier regionally), which typically supports durable renter demand. Within a 3-mile radius, recent population growth and an increase in households—paired with a projected decline in average household size—suggest a larger tenant base over time, which can support occupancy stability and leasing velocity. Home values are elevated relative to many U.S. neighborhoods, reinforcing reliance on multifamily rentals for households that prefer more accessible monthly housing costs.
The 2013 construction year positions this asset as newer than much of the local housing stock (average vintage is 1972), giving it a competitive edge versus older properties while still warranting routine capital planning as systems age. Renter-occupied housing within 3 miles is materially below half of units, indicating a mixed-tenure environment; for multifamily owners, this implies a stable but discerning renter pool rather than a transient, rent-dominant micro-market.
Local amenity density is limited for walk-to options (few cafes, restaurants, groceries, parks, or pharmacies nearby), but childcare access benchmarks well (nationally high percentile), which can help with family retention. In the broader Raleigh-Cary context, these dynamics align with a car-oriented suburban pattern; under a commercial real estate analysis lens, investors may prioritize on-site conveniences and parking to enhance competitiveness.
Neighborhood safety indicators trend below the national median, with national percentiles pointing to comparatively higher reported incidents than many U.S. neighborhoods. Within the Raleigh-Cary metro, the area sits closer to the middle of the pack (crime rank benchmarked among 331 neighborhoods), signaling that while not a top safety performer, it is broadly consistent with several suburban peers.
Year-over-year estimates show a modest uptick in violent offenses alongside stable property offense levels. For investors, this warrants prudent operating measures—lighting, access control, and coordination with local patrols—without assuming block-level conclusions. Positioning and on-site management can help mitigate perception risks and support retention.
Proximity to Research Triangle employment anchors underpins renter demand, with a broad base in insurance, life sciences, and technology supporting commute convenience for residents. Nearby employers include MetLife, AmerisourceBergen, John Deere, Quintiles, Biogen, and Cisco offices.
- MetLife — insurance (8.5 miles)
- Amerisource Bergen — pharmaceuticals distribution (9.4 miles)
- John Deere Morrisville Training Center — industrial equipment training (9.6 miles)
- Quintiles Transnational Holdings — life sciences (10.0 miles) — HQ
- MetLife Auto & Home Craig Conley LUTCF — insurance services (10.9 miles)
- Biogen Idec — biotechnology (11.6 miles)
- Cisco Systems, Building 8 — technology offices (12.1 miles)
- Cisco Systems — technology (12.4 miles)
- Erie Insurance Group — insurance (12.7 miles)
This 118-unit, 2013-vintage community benefits from North Raleigh s steady neighborhood occupancy and a higher-income, highly educated renter base. Newer construction relative to the area s older housing stock supports competitive positioning versus legacy assets, while suburban dynamics reward properties that deliver on-site convenience and parking. According to CRE market data from WDSuite, neighborhood occupancy trends sit in the top quartile nationally, reinforcing the case for collections stability at the neighborhood level.
Demand fundamentals are reinforced by 3-mile demographics showing population growth, a growing number of households, and projections for smaller household sizes all of which point to renter pool expansion over time. Elevated ownership costs locally further sustain reliance on multifamily housing, supporting pricing power where operators maintain quality and service. Key risks include below-median national safety metrics and limited walkable amenities, which place a premium on active management and property-level services.
- 2013 vintage offers competitive positioning versus older neighborhood stock
- Neighborhood occupancy in top quartile nationally supports stability (neighborhood metric, not property)
- 3-mile population and household growth, with smaller household sizes, expand the tenant base
- Proximity to major employers in RTP underpins demand and retention
- Risks: below-national-median safety metrics and limited walkable amenities require active management