| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 93rd | Best |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 109 Poindexter Dr, Charlotte, NC, 28203, US |
| Region / Metro | Charlotte |
| Year of Construction | 2012 |
| Units | 64 |
| Transaction Date | 2018-11-29 |
| Transaction Price | $93,933,000 |
| Buyer | TREA SH SILOS SOUTH END LLC |
| Seller | SHLP SILOS SOUTH END LLC |
109 Poindexter Dr Charlotte Multifamily Opportunity
Neighborhood data points to durable renter demand and competitive occupancy trends in this inner-suburban pocket of Charlotte, according to WDSuite’s CRE market data.
Located in an Inner Suburb setting of Charlotte, the property sits in a neighborhood rated A and ranked 38 out of 709 metro neighborhoods — competitive among Charlotte–Concord–Gastonia sub-areas. The housing stock nearby skews older (average vintage 1963), which positions a 2012-built asset as relatively newer and potentially more competitive versus legacy product.
Livability drivers are balanced: grocery and park access score well within the metro, with grocery density near the top of the region and parks also strong. Restaurant options are comparatively plentiful, while cafes and pharmacies are less dense locally, signaling some amenity gaps investors should factor into resident experience planning.
For renters, neighborhood dynamics are favorable. Renter-occupied share is high within the neighborhood, indicating a deep tenant base for multifamily demand. Neighborhood occupancy is competitive among Charlotte neighborhoods (rank 257 of 709), supporting expectations for leasing stability rather than outsized vacancy risk. Median contract rents benchmark above many areas nationally (upper quartile), while the rent-to-income ratio remains lower than the national median — a combination that can aid retention and reduce near-term affordability pressure.
Within a 3-mile radius, the population has expanded and is projected to continue growing, with households increasing at a faster pace than population, indicating smaller household sizes and a larger renter pool entering the market. These trends point to a broader tenant base that can support occupancy and steady absorption for well-positioned units. Elevated neighborhood home values relative to incomes suggest a high-cost ownership market locally, which typically sustains reliance on multifamily rentals and can bolster pricing power for competitively finished product.
Safety indicators here trend below national comparables. The neighborhood’s crime rank is 571 out of 709 metro neighborhoods, and national percentiles place both violent and property offenses in lower safety percentiles nationwide. Investors should approach underwriting with prudent assumptions around security measures and lease management, and benchmark performance to similar urban-adjacent Charlotte locations rather than suburban low-crime comparables.
Framing this comparatively helps: results signal conditions below metro average and well below national safety percentiles, not block-level risk. Operators commonly mitigate with targeted security, lighting, and resident engagement, which can support retention and protect common areas without materially altering operating strategy.
Proximity to large employers supports commuter convenience and multifamily leasing depth, with nearby roles concentrated in technology, utilities, banking, and industrial headquarters reflected below.
- Cisco Systems — technology offices (0.8 miles)
- Duke Energy — utilities (1.9 miles) — HQ
- Bank of America Corp. — banking (2.3 miles) — HQ
- Nucor — steel manufacturing (3.6 miles) — HQ
- Sonic Automotive — automotive retail (4.4 miles) — HQ
This 2012-built, 64-unit asset is newer than much of the surrounding housing stock, offering competitive positioning versus older properties while keeping an eye on mid-life system updates over the hold. Neighborhood signals indicate a deep renter base and occupancy levels that are competitive among Charlotte sub-areas; according to CRE market data from WDSuite, neighborhood rents benchmark in the upper national quartiles while rent-to-income levels remain comparatively manageable — a setup that can support retention and steady leasing.
Demand catalysts extend beyond the block. Within a 3-mile radius, population growth and faster household formation point to renter pool expansion, reinforcing depth of demand. Elevated ownership costs in the area help sustain reliance on multifamily housing, which can support pricing power for well-maintained, well-located units. Key risks to underwrite include below-average safety metrics relative to national peers and a few amenity gaps (notably cafes and pharmacies), which may warrant operational strategies to enhance resident experience.
- Newer 2012 vintage versus older neighborhood stock, enhancing competitive positioning
- Deep renter-occupied base and competitive neighborhood occupancy support leasing stability
- Within 3 miles, population and household growth expand the tenant base over the medium term
- Elevated ownership costs locally can sustain multifamily demand and pricing power
- Risks: below-national safety percentiles and selective amenity gaps require thoughtful operations