| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 60th | Good |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1719 Eastcrest Dr, Charlotte, NC, 28205, US |
| Region / Metro | Charlotte |
| Year of Construction | 1972 |
| Units | 107 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1719 Eastcrest Dr Charlotte Multifamily Opportunity
Renter concentration in the surrounding neighborhood is high and occupancy has held competitive among Charlotte submarkets, supporting durable demand and cash flow, according to CRE market data from WDSuite. Strong nearby employment and steady household growth add depth to the tenant base.
The property sits in an Inner Suburb neighborhood rated A- and ranked 138 out of 709 within the Charlotte metro—placing it in the top quartile among 709 metro neighborhoods. This positioning reflects balanced fundamentals and demand drivers that tend to support multifamily performance.
Livability is anchored by plentiful daily needs: neighborhood grocery access ranks near the top of the metro and compares favorably nationwide, while restaurant density is also a relative strength. By contrast, parks, pharmacies, and cafes are limited within the immediate neighborhood, suggesting residents rely on nearby districts for some amenities.
For investors, the tenure mix is notable: an estimated 75%+ share of housing units are renter-occupied in the neighborhood, indicating a deep renter pool and reinforcing leasing velocity and renewal prospects. Neighborhood occupancy has trended upward over the last five years and sits above the metro median, a positive signal for stability.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with forecasts pointing to continued expansion and smaller average household sizes. This pattern typically broadens the renter base and supports absorption, particularly for well-managed, mid-market communities.
Home values in the neighborhood are elevated for the region, which tends to sustain reliance on rental options and can support pricing power when managed carefully. Median contract rents have increased meaningfully in recent years, suggesting healthy renter demand, though lease management should balance retention with measured rent growth.
Constructed in 1972, the asset is slightly newer than the neighborhood’s average vintage. Investors should anticipate ongoing capital planning for building systems and common areas, while also considering value-add or modernization to remain competitive against both renovated peers and newer stock.
Safety trends should be considered in context. The neighborhood ranks in the lower half of Charlotte’s 709 neighborhoods for crime, and its national safety standing is below the median. At the same time, property offenses have declined over the past year, indicating some recent improvement. As always, investors should assess submarket trends, property-level security measures, and operational practices as part of underwriting.
Proximity to major employers broadens the prospective tenant base and supports retention for workforce and professional renters. Nearby anchors include headquarters and corporate offices in banking, energy, automotive retail, and technology.
- Sonic Automotive — automotive retail HQ (2.8 miles) — HQ
- Bank of America Corp. — banking & financial services (2.8 miles) — HQ
- Duke Energy — utilities & energy (3.1 miles) — HQ
- Cisco Systems — technology offices (3.8 miles)
- Nucor — steel manufacturing (4.6 miles) — HQ
1719 Eastcrest Dr benefits from a deep renter base and solid neighborhood positioning. The submarket ranks in the top quartile within the Charlotte metro and shows above-median occupancy, while elevated for-sale home values help sustain reliance on multifamily housing. Within a 3-mile radius, population and households have grown and are projected to continue expanding, which typically supports absorption and occupancy stability. Based on CRE market data from WDSuite, rent levels have risen meaningfully in recent years—underscoring demand—yet the rent-to-income profile indicates room for disciplined growth with an eye on retention.
Built in 1972, the community should be evaluated for targeted renovations and building-system upgrades to strengthen competitive positioning against newer product. Amenity depth in the immediate neighborhood is mixed—strong for groceries and restaurants, limited for parks, pharmacies, and cafes—so on-site features and management can be important differentiators. Safety performance trails metro and national medians, which warrants prudent operating practices and underwriting assumptions.
- Competitive neighborhood rank within Charlotte and above-median occupancy support stability
- High renter concentration and growing 3-mile households deepen the tenant base
- Elevated ownership costs reinforce multifamily demand and measured pricing power
- 1972 vintage offers value-add potential through targeted renovations and system upgrades
- Risks: below-median safety metrics and uneven amenity mix require thoughtful operations and underwriting