| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 74th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9210 Bruckhaus St, Raleigh, NC, 27617, US |
| Region / Metro | Raleigh |
| Year of Construction | 2007 |
| Units | 116 |
| Transaction Date | 2010-07-20 |
| Transaction Price | $28,300,000 |
| Buyer | FUND X EBC RALEIGH L L C |
| Seller | BRIER CREEK FC LLC |
9210 Bruckhaus St, Raleigh Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a deeper tenant base even as occupancy trends sit closer to the metro middle, according to CRE market data from WDSuite. Proximity to major RTP employers further reinforces day-one leasing fundamentals without relying on outsized rent growth assumptions.
This Inner Suburb location is competitive among Raleigh-Cary neighborhoods (ranked 92 of 331; B+ rating), with everyday conveniences nearby and strong links to the Research Triangle employment base. Café and pharmacy density score well versus national peers, while grocery and park options are thinner within the immediate neighborhood, suggesting some reliance on short drives for errands.
At the neighborhood level, approximately 61% of housing units are renter-occupied, a high renter concentration that supports multifamily demand depth and renewal visibility. Neighborhood occupancy is below the metro median, so underwriting should favor realistic lease-up and renewal assumptions rather than stretch targets.
The property’s 2007 vintage is slightly newer than the neighborhood’s average construction year (2004). That positioning helps competitiveness versus older stock, while still allowing room for targeted value-add through common-area refreshes and system modernization over the hold.
Within a 3-mile radius, population and household counts have expanded, with households up meaningfully and average household size edging lower. This combination points to a larger tenant base and steady unit absorption potential. Median household incomes are solid for the metro and rising, and the neighborhood’s rent-to-income ratio near 0.18 indicates manageable affordability pressure that can support retention. Elevated home values and a higher value-to-income ratio create a high-cost ownership market, which tends to reinforce reliance on multifamily housing and supports pricing power for well-operated assets. Average school ratings trail national benchmarks, which may temper appeal for family-oriented renters but is less consequential for studio/one-bedroom demand typical of workforce and young professional segments.
Safety metrics for the neighborhood track below both national and metro averages. The area’s overall crime rank sits in the less favorable half of Raleigh-Cary neighborhoods (235 out of 331), and national percentiles for violent and property crime indicate elevated incident rates compared to many U.S. neighborhoods.
Year-over-year estimates show a modest uptick in property offenses and a larger increase in violent incidents. Investors often respond with practical measures—lighting, access controls, and coordinated property management—to support resident experience and retention while underwriting conservatively for loss-to-lease and turnover.
Nearby corporate nodes in and around Research Triangle Park provide a broad white-collar employment base, supporting renter demand and commute convenience for residents. Key employers include life sciences, insurance/financial services, and diversified corporate offices listed below.
- Quintiles Transnational Holdings — life sciences CRO (2.6 miles) — HQ
- Amerisource Bergen — pharmaceutical distribution offices (3.8 miles)
- John Deere Morrisville Training Center — industrial/corporate training (4.4 miles)
- Biogen Idec — biotechnology offices (4.7 miles)
- MetLife — insurance/financial services (4.9 miles)
9210 Bruckhaus St is a 116-unit, 2007-vintage asset positioned near major Triangle employers, with a neighborhood tenant base that skews renter-occupied. According to CRE market data from WDSuite, the area’s renter concentration and steady 3-mile household growth support demand depth, while neighborhood occupancy trends closer to the metro middle argue for disciplined leasing assumptions and asset-specific execution to drive performance.
The vintage offers relative competitiveness versus older stock and leaves room for targeted renovations to lift rent positioning without overcapitalizing. Income levels in the 3-mile radius are strong and rising, the rent-to-income profile suggests manageable retention risk, and elevated ownership costs in the area tend to sustain multifamily reliance. Principal watch items include below-average school ratings, thinner grocery/park access in the immediate neighborhood, and safety metrics that trail metro and national norms—factors best addressed through operational focus and conservative underwriting.
- Renter-heavy neighborhood supports depth of tenant demand and renewal visibility
- 2007 vintage offers competitive positioning with value-add potential in interiors and systems
- 3-mile income growth and expanding household base support occupancy stability and pricing power
- Proximity to RTP employers underpins day-one leasing fundamentals and retention
- Risks: safety metrics below metro averages, limited immediate groceries/parks, and weaker school ratings