| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 48th | Fair |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8150 Town Dr, Raleigh, NC, 27616, US |
| Region / Metro | Raleigh |
| Year of Construction | 2013 |
| Units | 42 |
| Transaction Date | 2011-10-28 |
| Transaction Price | $365,000 |
| Buyer | POYNER SPRING HOUSING ASSOCIATES LLC |
| Seller | THALES ACADEMY INC |
8150 Town Dr, Raleigh NC Multifamily Investment
Newer 2013 construction in an inner-suburb location with steady neighborhood occupancy suggests durable renter demand, according to WDSuite's CRE market data. The asset's vintage should remain competitive versus older stock while leaving room for targeted updates as systems age.
This inner-suburb pocket of Raleigh posts a neighborhood rating of A- and is competitive among Raleigh-Cary neighborhoods (rank 53 of 331), with occupancy around 96.5% (top quartile nationally) per WDSuite. Renter-occupied units account for roughly half of neighborhood housing, indicating a broad tenant base that can support leasing stability.
Construction skews relatively new locally (average 2007; competitive among 331 neighborhoods), and a 2013-vintage asset benefits from this dynamic by offering more contemporary layouts and finishes than older alternatives, while investors should still plan for mid-life system refreshes over the hold.
Amenities are a local strength: restaurants and cafes rank in the upper national percentiles, with parks, groceries, and pharmacies also above average. School ratings trend below national medians, which may temper family-focused demand but does not preclude workforce housing performance. Median contract rents in the neighborhood sit near the metro middle, and rent-to-income around 0.22 supports retention and measured pricing power, based on CRE market data from WDSuite.
Within a 3-mile radius, households have grown modestly in recent years while population inched up, signaling smaller average household sizes and a gradual expansion of the renter pool. WDSuite's 3-mile forecasts point to substantial gains in households by the next five-year period alongside higher median incomes and rising asking rents, a combination that can underpin occupancy stability if lease management stays ahead of affordability pressure.
Safety indicators for this neighborhood track below both metro and national medians. The area ranks 242 out of 331 within the Raleigh-Cary metro, placing it below the metro median and in a lower national safety percentile, according to WDSuite. Recent year-over-year estimates show an uptick in both violent and property offenses, so investors should underwrite with conservative assumptions around security measures and operating protocols.
Contextually, submarkets across large Sun Belt metros can exhibit wide variation block to block. For underwriting, a practical approach is to compare this neighborhood's trend to similarly priced, inner-suburban Raleigh locations and assess how on-site lighting, access control, and staffing influence retention and loss-to-lease.
Proximity to major Triangle employment nodes supports demand from insurance, life sciences, and technology workforces that value commute convenience. Notable nearby employers include MetLife, AmerisourceBergen, John Deere, and Quintiles.
- MetLife - insurance (13.7 miles)
- MetLife Auto & Home Craig Conley LUTCF - insurance (14.7 miles)
- Amerisource Bergen - pharmaceutical distribution (14.8 miles)
- John Deere Morrisville Training Center - equipment manufacturing training (15.0 miles)
- Quintiles Transnational Holdings - life sciences CRO (15.7 miles) - HQ
The investment case centers on occupancy stability, depth of the renter pool, and a 2013 vintage that competes well against older neighborhood stock. Neighborhood occupancy trends near the top quartile nationally, rents benchmark close to the metro middle, and rent-to-income around 0.22 supports retention with room for disciplined increases, according to CRE market data from WDSuite.
Within a 3-mile radius, households are expanding and are projected to grow materially over the next five years, pointing to a larger tenant base and support for lease-up and renewal performance. Amenity access is strong for an inner suburb, though below-median school ratings and weaker safety readings warrant prudent underwriting and active asset management. As the property moves into its second decade, plan for targeted mechanical and common-area updates to sustain competitive positioning.
- Occupancy strength in a competitive A- neighborhood supports income durability.
- 2013 vintage offers relative appeal versus older stock with manageable mid-life capex.
- Expanding 3-mile household base points to a deeper renter pool and renewal potential.
- Rent-to-income near 0.22 allows measured pricing power with focus on retention.
- Risks: below-median safety and school metrics; rising rents require careful affordability management.