| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 60th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1203 Mark Twain Rd, Charlotte, NC, 28213, US |
| Region / Metro | Charlotte |
| Year of Construction | 2013 |
| Units | 39 |
| Transaction Date | 2012-12-19 |
| Transaction Price | $4,620,000 |
| Buyer | CRESCENT UNIVERSITY CITY VENTURE LLC |
| Seller | CENTURY PARTNERS LLC |
1203 Mark Twain Rd Charlotte 2013 Multifamily Investment
2013-built, 39-unit asset positioned in an inner-suburb pocket with a high renter concentration that supports a durable tenant base, even as neighborhood occupancy trends below the metro median, according to WDSuite’s CRE market data.
Located in an Inner Suburb of Charlotte, the property benefits from a renter-oriented housing stock and newer construction relative to nearby inventory. The submarket’s average construction year is 1987 (ranked 275 of 709 Charlotte neighborhoods), positioning a 2013 vintage as comparatively competitive versus older stock and reducing near-term capital exposure while still allowing for selective modernization to drive rents and retention.
Renter-occupied housing accounts for a large share of neighborhood units (69.7%; rank 29 of 709), indicating depth in the tenant pool and potential demand stability for multifamily. By contrast, the neighborhood occupancy rate trends soft (rank 696 of 709), which points to leasing and pricing discipline as key asset-management priorities. Median asking rents in the neighborhood are toward the middle of national markets, and ownership costs are relatively accessible locally, suggesting investors should balance rent growth targets with affordability-aware renewal strategies.
Within a 3-mile radius, population and household growth have been solid and are projected to continue, with households expanding faster than population, which typically supports a larger renter pool and steady absorption. Income measures in this radius have trended upward, reinforcing the base for professionally managed workforce and market-rate product. These 3-mile dynamics help mitigate softer neighborhood occupancy by broadening the catchment of prospective tenants.
Local retail and daily-needs amenities inside the immediate neighborhood are limited, but major employment corridors are accessible within a short drive. From a national lens, neighborhood-level NOI per unit benchmarks in this area land in the top quartile, based on CRE market data from WDSuite, signaling operational potential when assets are positioned and managed effectively.
Neighborhood safety metrics sit below national medians, with crime levels placing the area closer to the middle of the pack within the Charlotte metro (rank 386 out of 709 neighborhoods). Nationally, the neighborhood compares weaker on safety measures, but recent trends have moved in a constructive direction.
Property offenses are lower year over year (approximately a mid-to-upper tier improvement nationally), and violent offense rates also show modest declines. In practical terms, investors should underwrite with attention to security, lighting, and resident engagement while noting the improving trajectory and the property’s Inner Suburb context relative to the broader region.
Proximity to major employers underpins renter demand, with a mix of pharmaceuticals, financial services, utilities, auto retail, and technology offices within commuting range that can support leasing velocity and retention.
- Merck — pharmaceuticals (2.9 miles)
- Bank of America Corp. — banking & financial services (8.0 miles) — HQ
- Duke Energy — utilities (8.4 miles) — HQ
- Sonic Automotive — auto retail (9.2 miles) — HQ
- Cisco Systems — networking & technology (9.4 miles)
Built in 2013, the asset offers a newer-vintage alternative to a neighborhood base that skews to the late 1980s. That positioning can lower near-term capital needs while providing room for targeted value-add to enhance rents and resident experience. The neighborhood shows a high share of renter-occupied units, supporting demand depth, while softer neighborhood occupancy suggests investors should emphasize leasing execution and renewal management. Within a 3-mile radius, population and households are expanding, indicating a larger tenant base that can support occupancy stability over a multi-year hold, based on CRE market data from WDSuite.
Ownership costs in the immediate area are relatively accessible, which may temper pricing power at the margins; however, the presence of nearby employment centers and improving safety trends provide a counterbalance. Underwriting should consider affordability pressure in select blocks, with asset differentiation (amenities, maintenance, and service) as key levers for retention.
- 2013 vintage competes well against older neighborhood stock, moderating near-term capex
- High renter-occupied share indicates depth of tenant demand for multifamily units
- 3-mile population and household growth expands the renter pool and supports occupancy
- Risks: softer neighborhood occupancy and affordability pressure require disciplined leasing and renewal strategies