| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 93rd | Best |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 108 Poindexter Dr, Charlotte, NC, 28203, US |
| Region / Metro | Charlotte |
| Year of Construction | 2013 |
| Units | 44 |
| Transaction Date | 2011-09-30 |
| Transaction Price | $3,700,000 |
| Buyer | SIMPSON WOODFIELD SILOS LLC |
| Seller | WF SILOS LLC |
108 Poindexter Dr Charlotte 2013 Multifamily Investment
Strong renter concentration and stable neighborhood occupancy support durable cash flow potential, according to WDSuite’s CRE market data. Positioned in an Inner Suburb pocket of Charlotte with deep tenant demand, the asset benefits from proximity to major employment centers.
This Charlotte Inner Suburb neighborhood is competitive among Charlotte-Concord-Gastonia metro neighborhoods (ranked 38 out of 709) with an A neighborhood rating, reflecting solid livability and investment appeal based on WDSuite’s CRE market data. Local fundamentals indicate steady renter demand, with neighborhood occupancy measured at 94.5% — supportive of leasing stability at the neighborhood level rather than a guarantee for any single property.
Daily needs are well covered: grocery options are strong (94th percentile nationally) and park access is robust (89th percentile), while restaurants are also well represented (82nd percentile). Immediate cafe and pharmacy density is limited, which may slightly temper walk-to conveniences but does not diminish broader access to services within the wider trade area.
Tenure patterns point to depth in the renter pool: the share of housing units that are renter-occupied is very high for the neighborhood (84.8%, 99th percentile nationally). For multifamily investors, this typically supports a wider prospect base and can aid lease-up and retention management. Neighborhood rent-to-income sits at 0.23, indicating relatively moderate affordability pressure that can help reduce turnover risk, while elevated ownership costs (median home values rank in the 77th percentile nationally and value-to-income is comparatively high) tend to reinforce reliance on rental housing.
The asset’s 2013 vintage is newer than the neighborhood’s average construction year of 1963. That positioning can be competitively advantageous versus older local stock, though investors should still plan for routine system updates and potential modernization to sustain performance.
Within a 3-mile radius, demographics show population growth over the last five years with notable household expansion (+27%); forward-looking projections point to further renter pool expansion as households are expected to increase substantially in the next five years. The concurrent decline in average household size suggests more, smaller households entering the market, which generally supports multifamily demand, lease absorption, and occupancy stability.
Safety metrics should be considered in underwriting. The neighborhood’s crime rank (571 out of 709 in the Charlotte-Concord-Gastonia metro) indicates higher reported crime levels than many Charlotte neighborhoods, and the national positioning is below the middle of U.S. neighborhoods (approximately the 23rd percentile). Recent year-over-year estimates show some increase in both property and violent offenses, so prudent operating plans may include enhanced on-site protocols and resident communication.
Investors commonly address these dynamics through security design, lighting, and partnerships with local resources. Compare these figures against submarket and asset-level measures where available, and monitor trajectory rather than relying on a single snapshot.
Proximity to a diversified employment base underpins renter demand and commute convenience, led by Cisco Systems, Duke Energy, Bank of America, Airgas, and AmerisourceBergen — all within roughly three miles.
- Cisco Systems — technology offices (0.8 miles)
- Duke Energy — utilities (1.9 miles) — HQ
- Bank of America Corp. — financial services (2.3 miles) — HQ
- Airgas — industrial gases offices (2.5 miles)
- AmerisourceBergen Healthcare Consultants — healthcare services (2.8 miles)
Built in 2013 with 44 units, the property is relatively new versus the neighborhood’s older housing stock, providing competitive positioning on finishes and systems while leaving room for targeted upgrades over the hold period. Neighborhood-level occupancy is solid and the share of renter-occupied units is among the highest nationally, supporting a sizable tenant base and potential leasing stability. According to CRE market data from WDSuite, grocery and park access are strong by national comparison, and ownership remains a high-cost path locally, which tends to sustain multifamily demand.
Within a 3-mile radius, recent population growth, strong household gains, and forecasts for further increases point to ongoing renter pool expansion. Coupled with proximity to major employers, these dynamics support a durable demand thesis; investors should still plan for prudent operations given neighborhood safety metrics and the natural aging of a 2013 asset over time.
- Newer 2013 vintage versus local average, with potential to outperform older stock
- High renter-occupied share and steady neighborhood occupancy support leasing stability
- Strong 3-mile household growth and proximity to major employers bolster demand
- Ownership remains comparatively high-cost, reinforcing reliance on multifamily rentals
- Risks: below-average safety metrics locally and routine capex as systems age