| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 91st | Best |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7801 Mayfaire Crest Ln, Raleigh, NC, 27615, US |
| Region / Metro | Raleigh |
| Year of Construction | 1995 |
| Units | 24 |
| Transaction Date | 2002-09-25 |
| Transaction Price | $10,800,000 |
| Buyer | ROGERS REALTY & INSURANCE COMPANY |
| Seller | SUMMIT PROPERTIES PARTNERSHIP LP |
7801 Mayfaire Crest Ln Raleigh Multifamily Opportunity
Inner-suburb fundamentals point to steady renter demand, with neighborhood occupancy running strong and supported by higher-income households and a high-cost ownership market, according to CRE market data from WDSuite. Expect durable leasing driven by proximity to employment hubs and retail conveniences.
Located in Raleigh’s inner suburbs, the property benefits from an A-rated neighborhood that ranks 30 out of 331 within the Raleigh–Cary metro—competitive among local options. Neighborhood occupancy is in the top quartile nationally, signaling stable leasing conditions at the neighborhood level (not the property). Contract rents in this area sit in the upper national tier, yet rent-to-income levels remain manageable, supporting retention and measured pricing power.
Livability is anchored by everyday conveniences: grocery and pharmacy access both score well versus metro peers and fall in high national percentiles, while restaurant density is also competitive. Park and café availability is thinner, which may modestly reduce lifestyle appeal for some cohorts, but core retail and services coverage remains favorable for workforce renters.
Demographics aggregated within a 3-mile radius show population growth over the past five years with household counts also rising, pointing to a larger tenant base. Forward-looking estimates indicate households continuing to increase even as average household size trends lower, which can support multifamily demand through more renters entering the market and sustained occupancy stability.
Vintage context: the asset’s 1995 construction is newer than the neighborhood’s average 1985 vintage, offering relative competitiveness versus older stock. Investors should still plan for selective modernization and system updates to meet current renter expectations and to capture potential value-add upside.
Tenure signals are balanced: neighborhood renter-occupied share is moderate, and within the 3-mile radius renters account for roughly one-third of housing units. This mix suggests a sufficiently deep tenant pool without excessive turnover pressure, aided by elevated home values that reinforce reliance on multifamily options and can support lease stability.
Relative to other Raleigh–Cary neighborhoods, this area’s safety ranking indicates higher crime exposure than many metro peers (crime rank 96 of 331). Nationally, the neighborhood sits below the median for safety, though recent data shows year-over-year declines in both property and violent offense rates, an encouraging directional trend. Interpreting these signals at the neighborhood—not property—level supports prudent underwriting and active safety communications.
For investors, the takeaway is comparative and trend-based: while the area is not among the metro’s safest clusters, recent improvements and strong occupancy suggest demand persists. Ongoing monitoring and standard property-level measures (lighting, access control, partnerships with local public safety) can help sustain leasing and resident retention.
Nearby corporate offices in insurance, life sciences, and technology underpin a diverse employment base that supports renter demand and commute convenience. The following employers reflect the primary drivers within a typical leasing radius for workforce renters.
- MetLife — insurance (8.8 miles)
- AmerisourceBergen — pharmaceuticals distribution (9.5 miles)
- John Deere Morrisville Training Center — industrial training (9.8 miles)
- Quintiles Transnational Holdings — life sciences services (10.1 miles) — HQ
- MetLife Auto & Home Craig Conley LUTCF — insurance services (11.3 miles)
This 24-unit 1995-vintage asset sits in an A-rated inner-suburban neighborhood with strong neighborhood-level occupancy and upper-tier rent positioning, according to CRE market data from WDSuite. Elevated home values and a manageable rent-to-income backdrop support retention while still allowing for disciplined rent growth. The property’s vintage is newer than the neighborhood average, offering competitive positioning versus older stock and potential value-add through selective interior and systems updates.
Demand is supported by a diverse employment base within a practical commute range and 3-mile demographic trends that indicate a growing renter pool and continued household growth even as household sizes gradually decline. Amenity access is strongest for groceries, pharmacies, and restaurants, which supports daily convenience; thinner park and café density is a consideration for lifestyle marketing but not a core constraint for workforce leasing.
- Strong neighborhood-level occupancy and retention fundamentals with upper-tier rent positioning
- 1995 construction provides relative competitiveness; targeted renovations can unlock value-add upside
- Diverse nearby employment in insurance, life sciences, and tech supports steady leasing
- 3-mile demographics point to a larger tenant base and continued household growth aiding occupancy stability
- Risks: neighborhood safety ranks below metro leaders; limited parks/cafés may modestly affect lifestyle appeal