| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 69th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10008 Madison Square Pl, Charlotte, NC, 28216, US |
| Region / Metro | Charlotte |
| Year of Construction | 2012 |
| Units | 34 |
| Transaction Date | 2018-12-11 |
| Transaction Price | $46,500,000 |
| Buyer | REX HOLDINGS I LLC |
| Seller | DISTRICT AL LP |
10008 Madison Square Pl Charlotte Investment Outlook
Neighborhood fundamentals point to durable renter demand and above-median occupancy for the area around 10008 Madison Square Pl, according to WDSuite’s CRE market data. The key investor takeaway is stable tenant depth supported by a high share of renter-occupied housing at the neighborhood level.
This inner-suburb Charlotte neighborhood is rated A and ranks 61 out of 709 metro neighborhoods, placing it in the top quartile locally. Neighborhood-level occupancy is above the metro median, and renter-occupied housing accounts for a large share of units, signaling a deep tenant base for multifamily owners in the immediate area (these figures reflect the neighborhood, not the property).
Daily-life amenities are a relative strength: restaurant and café densities are in the 97th percentile nationally, while grocery and pharmacy access are competitive among Charlotte neighborhoods. Limited park density is a known gap. Taken together, the convenience profile supports leasing and retention for working households.
Within a 3-mile radius, demographics show population growth over the past five years, with households expanding at a faster pace and projected to continue increasing through 2028. Household sizes are trending smaller, which typically supports ongoing renter pool expansion and helps sustain occupancy for professionally managed assets.
The property’s 2012 construction is newer than the neighborhood’s average vintage (2005), positioning it competitively versus older stock. Investors should still plan for mid-life systems updates and selective modernization to maintain positioning against recent deliveries.
Home values in the neighborhood sit below national midpoints, which can introduce some competition from attainable ownership. Neighborhood rent-to-income levels indicate pockets of affordability pressure, suggesting prudent lease management and renewal strategies to balance occupancy stability with pricing objectives.
Relative to the Charlotte metro, this neighborhood’s crime rank (559 out of 709) indicates higher reported crime than many peer areas. Nationally, its safety profile sits below mid-range percentiles, so investors should incorporate security posture and lighting/site design into operating plans and underwriting.
Recent trends are mixed: estimated property offenses declined year over year, while estimated violent offenses increased. These are neighborhood-level indicators and can vary by block and over time; monitoring updated data and coordinating with property management on preventative measures remains prudent.
Proximity to diversified employers supports commute convenience and broad renter demand, with nearby roles spanning pharmaceuticals, banking, energy utilities, and technology — the same employers listed below.
- Merck — pharmaceuticals (5.4 miles)
- Bank of America Corp. — banking (8.7 miles) — HQ
- Duke Energy — energy utilities (8.9 miles) — HQ
- Cisco Systems — technology (9.7 miles)
- AmerisourceBergen Healthcare Consultants — healthcare services (10.9 miles)
The investment case centers on durable renter demand and competitive positioning. Neighborhood-level occupancy trends run above the metro median and the renter concentration is high, supporting depth of the tenant base and lease-up/retention prospects. According to CRE market data from WDSuite, amenities are a relative strength, with dining and café access in top national percentiles, which can enhance renter appeal.
Built in 2012, the asset is newer than the area’s average vintage, providing a competitive edge versus older stock while leaving room for targeted modernization to sustain rents. Within a 3-mile radius, recent and forecast increases in households point to a growing renter pool, reinforcing longer-term occupancy stability. Key watch items include neighborhood safety trends, attainable ownership options that can compete for some households, and managing rent-to-income exposure to protect renewal rates.
- Above-median neighborhood occupancy and high renter concentration support stable demand
- 2012 vintage offers competitive positioning versus older stock with targeted value-add potential
- Amenity-rich location (restaurants/cafés) aids leasing and retention
- 3-mile household growth and forecasts point to a larger tenant base over time
- Risks: below-average neighborhood safety, attainable ownership competition, and affordability pressures requiring careful lease management