| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 68th | Good |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 343 W Oak Ave, Wake Forest, NC, 27587, US |
| Region / Metro | Wake Forest |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
343 W Oak Ave, Wake Forest NC Multifamily Opportunity
Stabilized renter demand and metro-adjacent convenience support steady operations, according to WDSuite’s CRE market data, with neighborhood occupancy trends signaling durable income potential.
Located in Wake Forest within the Raleigh–Cary metro, the neighborhood carries a B- rating and functions as an Inner Suburb submarket alternative for workforce and move-up renters. Neighborhood occupancy sits in the top quartile nationally and is competitive among the 331 Raleigh–Cary neighborhoods, which can underpin cash flow consistency for a 24-unit asset.
Livability is serviceable rather than high-amenity: grocery access is moderate relative to local peers, while cafes, parks, and pharmacies are sparse in the immediate area. Public school quality averages 3.5 out of 5 and ranks within the stronger cohort (top quartile) among the 331 metro neighborhoods, supporting family-oriented demand and longer tenancy profiles.
Within a 3-mile radius, population and households have expanded meaningfully over the past five years and are projected to continue growing, pointing to a larger tenant base and sustained leasing velocity. Household incomes in this radius trend well above national norms, while median contract rents remain middle-of-the-road, suggesting rent-to-income conditions that can support retention and reduce turnover risk.
Home values in the neighborhood track above national medians, which, combined with a renter-occupied share around one-third of units locally, tends to reinforce reliance on multifamily housing and supports demand depth. This positioning, framed by balanced pricing and demographics, aligns with resilient fundamentals highlighted in commercial real estate analysis from WDSuite.
Safety indicators compare favorably at the national level, with the neighborhood sitting in the top quartile nationwide for lower crime incidence. Recent data also shows notable year-over-year declines in both violent and property offenses, which supports renter confidence and lease stability.
Within the Raleigh–Cary metro context, however, the neighborhood’s crime rank is closer to the higher-crime end (ranked 5 out of 331 metro neighborhoods), indicating safety performance that is less competitive than many nearby areas. Investors should weigh the national-strength profile against the metro-relative standing and monitor ongoing trends rather than focusing on block-level variation.
Regional employment anchors in the Research Triangle—spanning insurance, life sciences, and technology—bolster commuter demand from Wake Forest. The following employers provide diversified white-collar jobs that can support leasing and retention for nearby workforce housing.
- MetLife — insurance (19.7 miles)
- Quintiles Transnational Holdings — life sciences services (20.1 miles) — HQ
- Amerisource Bergen — pharma distribution (20.2 miles)
- John Deere Morrisville Training Center — industrial training (20.6 miles)
- Biogen Idec — biotechnology (22.1 miles)
Constructed in 1985, the property may benefit from targeted capital planning—systems modernization and selective interior upgrades—to enhance competitiveness versus newer stock while capturing steady demand. Neighborhood occupancy trends are strong (top quartile nationally and competitive in the metro), and rent levels remain balanced relative to incomes, supporting retention and predictable performance.
Population and household growth within a 3-mile radius—paired with elevated home values in the neighborhood—help sustain multifamily demand and leasing velocity. According to CRE market data from WDSuite, the area’s income profile and stable renter concentration underpin depth of the tenant base, while moderate amenity access and metro-relative safety positioning are considerations for underwriting and management.
- Strong neighborhood occupancy (top quartile nationally) supports income stability
- 1985 vintage offers value-add potential through system upgrades and interiors
- Household and population growth within 3 miles expands the renter pool
- Income profile outpaces rents, aiding retention and lease management
- Risks: limited walkable amenities and metro-relative safety ranking warrant active management