| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 56th | Fair |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 110 S Hollybrook Rd, Wendell, NC, 27591, US |
| Region / Metro | Wendell |
| Year of Construction | 2006 |
| Units | 20 |
| Transaction Date | 2005-02-15 |
| Transaction Price | $100,000 |
| Buyer | CEDAR SPRINGS HOUSING ASSOCIATES LLC |
| Seller | JONES LUCIUS S |
110 S Hollybrook Rd Wendell 20-Unit Multifamily
Population and household growth in suburban Wendell point to a deeper tenant base and steady leasing prospects, according to WDSuite’s CRE market data. With ownership costs elevated relative to many U.S. areas, renter reliance should continue to support demand.
Wendell sits within the Raleigh-Cary metro and this neighborhood is rated B+ and competitive among Raleigh-Cary neighborhoods (117 of 331). The area trends suburban with a growing amenity mix: cafes are competitive among metro peers (ranked 60 of 331; 75th percentile nationally), parks score above many U.S. neighborhoods (68th percentile), and restaurants are around metro norms. Grocery options are present but not dense, and pharmacies are limited, which may slightly affect convenience for residents.
For schools, the neighborhood’s average rating is below national midpoints, which could influence unit mix strategy for family-oriented leasing. At the same time, the neighborhood’s rent-to-income ratio sits around the 66th percentile nationally, suggesting manageable affordability pressure that can support lease retention and measured pricing power.
The local occupancy rate is below the metro median (ranked 223 of 331), so operators may need to focus on targeted leasing and renewals. However, within a 3-mile radius, demographics show momentum: population grew in recent years with further population growth projected by 2028, and households are set to increase meaningfully. This points to a larger tenant base and supports occupancy stability over the medium term, based on multifamily property research from WDSuite.
Home values in the neighborhood sit above many U.S. areas (around the 69th percentile nationally). In practical terms, a higher-cost ownership market can sustain rental demand and lengthen renter tenures, while household incomes are also above national averages (74th percentile), reinforcing the depth of demand for quality multifamily units.
Vintage context: the property was built in 2006, while nearby stock skews newer on average (2015, ranked 19 of 331). That age gap suggests potential value-add and capital planning opportunities—select interior updates or modernization can help the asset compete with newer deliveries while maintaining cost discipline.
Safety performance in this neighborhood is below both metro and national averages. The area ranks 201 out of 331 Raleigh-Cary neighborhoods on crime and sits in the lower national percentiles, indicating comparatively higher reported offense levels than many U.S. neighborhoods.
Recent year-over-year data show increases across property and violent offense categories, according to WDSuite’s datasets. Investors should underwrite with prudent security line items and resident engagement, and compare trends against nearby Raleigh-Cary submarkets to calibrate risk and operating strategy.
Regional employment nodes in and around Raleigh-Durham support commuter demand from Wendell. Notable concentrations include insurance services, pharmaceutical distribution, and a major contract research organization headquarters—employers that can underpin renter demand and renewals.
- MetLife Auto & Home Craig Conley LUTCF — insurance services (23.5 miles)
- MetLife — insurance (24.6 miles)
- Erie Insurance Group — insurance (24.7 miles)
- Amerisource Bergen — pharmaceutical distribution (26.1 miles)
- Quintiles Transnational Holdings — contract research organization (27.5 miles) — HQ
110 S Hollybrook Rd is a 20-unit, 2006-vintage asset in a suburban Raleigh-Cary neighborhood that is competitive versus metro peers but shows occupancy below the metro median. The combination of a moderate renter concentration locally and a growing 3-mile demographic profile—more households and continued population growth—supports a larger tenant base and the potential for improved stabilization. According to CRE market data from WDSuite, home values rank above many U.S. areas while rent-to-income levels indicate manageable affordability pressure, a mix that can sustain rental demand and aid retention.
Relative to the area’s newer average vintage (2015), the property’s age points to practical value-add opportunities. Select interior upgrades and minor systems modernization can position the asset competitively against newer supply without overcapitalizing. Investors should also account for uneven school ratings, limited pharmacy access, and crime metrics that trail metro averages, balancing these with the strength of the regional job base and ongoing household growth.
- Suburban Raleigh-Cary location with household and population growth expanding the tenant base (3-mile radius)
- Above-average home values and solid incomes reinforce rental demand and potential retention
- 2006 vintage versus newer local stock suggests targeted value-add and modernization upside
- Below-metro-median occupancy and lower school ratings warrant conservative leasing and underwriting
- Regional employers within commuting range support demand but safety trends call for active management