| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 77th | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2115 Sandy Porter Rd, Charlotte, NC, 28273, US |
| Region / Metro | Charlotte |
| Year of Construction | 2007 |
| Units | 26 |
| Transaction Date | 2006-01-18 |
| Transaction Price | $4,360,000 |
| Buyer | COLONIAL REALTY LP |
| Seller | CAMBRIDGE PARTNERS LLC |
2115 Sandy Porter Rd Charlotte Multifamily Investment
Neighborhood-level occupancy remains competitive and renter demand is diversified, according to WDSuite s CRE market data, positioning this asset for stable leasing in a growing south Charlotte corridor.
This Inner Suburb location ranks 65 out of 709 Charlotte-Concord-Gastonia neighborhoods (top quartile among 709 metro neighborhoods), signaling solid fundamentals for workforce and professional tenants based on CRE indicators from WDSuite. Neighborhood occupancy is 94.5% and, with a rank of 259 of 709 (Competitive among Charlotte-Concord-Gastonia, NC-SC neighborhoods), points to stable leasing conditions at the submarket level rather than a lease-up environment.
Local amenity access skews toward daily-needs retail: grocery availability ranks 48 of 709 (top quartile), restaurants rank 91 of 709 (competitive), and pharmacies rank 113 of 709 (competitive). Childcare density also ranks 78 of 709 (competitive). Park and cafe densities are limited, which can modestly reduce lifestyle appeal, but the practical retail mix supports day-to-day convenience for residents.
The neighborhood shows a renter-occupied share near 52%, placing it in a high national percentile for renter concentration. For investors, this indicates a meaningful tenant base and demand depth for multifamily units. Median rent levels are positioned above many peer areas in the metro, while the neighborhood rent-to-income ratio near the low 20% range suggests manageable affordability pressure that can aid lease retention.
Within a 3-mile radius, population and households have expanded over the last five years, with households growing faster than population, which points to smaller household sizes and a larger renter pool. Forward-looking estimates also point to continued household growth, which supports occupancy stability and ongoing demand for professionally managed rentals. These dynamics align with national trends in similar inner-suburban locations, according to WDSuite s commercial real estate analysis.
Safety metrics sit below metro averages and below the national median for comparable neighborhoods. The area s overall crime rank is 398 out of 709 Charlotte-Concord-Gastonia neighborhoods, indicating weaker relative safety locally. Nationally, safety percentiles are in the lower ranges; however, recent year-over-year trends show improvement, with estimated violent and property offense rates declining by double digits over the past year, placing the pace of improvement in roughly the top third nationally. Investors should underwrite with conservative assumptions and consider property-level security and lighting enhancements where appropriate.
Proximity to diversified employers supports commute convenience and a stable renter base, including industrial gases, healthcare distribution, steel, technology, and utilities. The employers below reflect the nearby demand drivers most relevant to multifamily leasing.
- Airgas corporate offices (3.8 miles)
- AmerisourceBergen Healthcare Consultants corporate offices (4.8 miles)
- Nucor steel manufacturing corporate offices (6.1 miles) HQ
- Cisco Systems technology offices (7.0 miles)
- Duke Energy utilities corporate offices (8.0 miles) HQ
Built in 2007, the property is newer than the neighborhood s average vintage and should compare well against older stock, while investors may still plan for selective modernization as systems age. Neighborhood-level occupancy of 94.5% ranks 259 of 709 (Competitive among Charlotte-Concord-Gastonia neighborhoods), and the renter concentration near 52% indicates a sizable tenant base. According to CRE market data from WDSuite, this location sits in the top quartile locally, with daily-needs amenities and strong grocery access supporting day-to-day livability and lease retention.
Within a 3-mile radius, recent population and household growth, plus projected gains in households, point to ongoing renter pool expansion and support for occupancy stability. Rent-to-income levels around the low 20% range suggest moderate affordability pressure, which can help sustain renewals even as rents trend with the market. Key underwriting considerations include below-median safety relative to metro benchmarks and limited parks/cafes, which can be addressed through on-site features and operations.
- 2007 construction offers competitive positioning versus older stock with targeted value-add potential
- Neighborhood occupancy competitive among 709 metro neighborhoods supports leasing stability
- 3-mile population and household growth underpin a larger tenant base and renewal potential
- Daily-needs retail and strong grocery access aid resident convenience and retention
- Risks: below-median safety locally and limited parks/cafes; underwrite for security and lifestyle enhancements