| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 89th | Best |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 911 N Blount St, Raleigh, NC, 27604, US |
| Region / Metro | Raleigh |
| Year of Construction | 2002 |
| Units | 90 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
911 N Blount St, Raleigh NC Multifamily Investment
Occupancy in the surrounding neighborhood is solid and renter demand is reinforced by a high-cost ownership landscape, according to WDSuite’s CRE market data. Investors should view this asset as exposure to a stable Raleigh-Cary submarket with demographic tailwinds.
Location and neighborhood position: The property sits in a Raleigh-Cary submarket that is competitive among Raleigh-Cary neighborhoods (ranked 55 out of 331; neighborhood rating A-). Neighborhood occupancy is 95.4%, placing it above the national median for similar areas and supportive of leasing stability.
Amenities and daily needs: Dining access is comparatively strong (restaurant density ranks well within the metro), and grocery options are present at levels that exceed many neighborhoods. Childcare access also scores well in the region. Park and pharmacy density are limited within the immediate neighborhood, which may slightly reduce convenience for some residents but can be mitigated by broader city access.
Demographics within a 3-mile radius: The area shows modest population growth over the last five years alongside a larger increase in households and smaller average household sizes—signals that typically expand the renter pool and support occupancy stability. The renter-occupied share is about 56% of housing units, indicating a deep tenant base for multifamily. Income levels have risen meaningfully, improving the capacity to absorb rent growth without materially elevating affordability pressure.
Housing and pricing context: Elevated home values relative to national norms support continued reliance on multifamily housing, while neighborhood rent-to-income ratios are manageable. For investors, this combination suggests durable demand, healthy renewal prospects, and the potential to maintain pricing power with prudent lease management.
Safety indicators suggest the neighborhood experiences more reported incidents than many parts of the Raleigh-Cary metro (crime rank 107 out of 331). Compared with neighborhoods nationwide, safety percentiles indicate higher relative incident rates; investors should underwrite with conservative assumptions and active property management practices.
Trend signals are mixed but include positives: property-related incidents show a meaningful year-over-year decline (top quartile improvement nationally), while violent incident levels were relatively unchanged over the past year. In practice, consistent on-site operations and lighting, access control, and resident engagement can help sustain leasing and retention performance.
Proximity to established employers supports renter demand from professionals seeking commute convenience. The nearby base spans insurance, pharmaceuticals, and technology—industries reflected below.
- MetLife — insurance (9.6 miles)
- Erie Insurance Group — insurance (10.1 miles)
- AmerisourceBergen — pharmaceuticals distribution (11.3 miles)
- Quintiles Transnational Holdings — life sciences (12.9 miles) — HQ
- Cisco Systems — technology (14.6 miles)
Built in 2002, the asset is materially newer than the average neighborhood vintage, offering a competitive edge versus older stock while leaving room for selective modernization as systems age. Neighborhood occupancy sits in a healthy range and the 3-mile radius shows renter pool expansion via rising household counts and smaller household sizes—factors that typically support lease-up, retention, and steady cash flow, based on CRE market data from WDSuite.
Pricing context is favorable for multifamily: elevated ownership costs bolster reliance on rentals, while rent-to-income levels indicate manageable affordability pressure for many households. The average unit size skews efficient, positioning the property for demand from singles and couples, particularly professionals employed by nearby employers, though it may limit appeal to larger households.
- Newer 2002 vintage versus neighborhood stock supports competitive positioning; targeted upgrades can drive value-add upside.
- Healthy neighborhood occupancy and a growing, renter-leaning 3-mile radius underpin demand and leasing stability.
- Elevated ownership costs sustain multifamily reliance, supporting renewal prospects and pricing power with disciplined management.
- Proximity to diversified employers (insurance, life sciences, tech) broadens the tenant base and supports retention.
- Risks: below-metro-average safety indicators and limited neighborhood park/pharmacy density warrant conservative underwriting and active operations.